Labour will spend £8bn on UK sovereign wealth fund if it forms government September 25, 2022 Labour will tomorrow pledge to spend £8bn to start a UK sovereign wealth fund if it wins the next election in a bid to boost domestic manufacturing. The National Wealth Fund will invest in British green energy production, with the British state taking ownership of assets held under the fund, shadow chancellor Rachel Reeves will [...]
Italians to the polls: Far right eyes victory September 25, 2022 Over 50m of Italians were called to vote yesterday in an election that is set to upset the country’s allies in Nato and Brussels. Opinion polls saw the right-wing alliance led by Giorgia Meloni’s post-fascist Brothers of Italy party set to win. If she becomes prime minister, Meloni plans to link arms with far-right populist [...]
Burnham calls on Starmer to show more ‘fight’ against Truss’ tax cuts September 25, 2022 Greater Manchester mayor Andy Burnham has called on Sir Keir Starmer to show more “fight” against the government, after a day of fuelling speculation that he wants to be the next Labour leader. Burnham told an event at the Labour conference today that he supported Starmer, but that “we need to get a bit more [...]
George Osborne calls on government to fix ‘schizophrenic’ levels of borrowing September 25, 2022 Liz Truss must end the “schizophrenic” economic policy of slashing taxes and increasing government borrowing, according to former chancellor George Osborne. Osborne said he was pleased to see Truss acting like a “conviction politician”, but said the government must make spending cuts if it wants to also lower taxes. Chancellor Kwasi Kwarteng unveiled the largest [...]
Truss considers increasing migration to UK to boost economic growth September 25, 2022 Liz Truss is considering plans to increase the number of migrants coming to the UK in a bid to boost economic growth. The Prime Minister wants to bring forward drastic changes to the UK’s visa laws to tackle labour shortages in a move that will likely spark anger within sections of the Conservative party. The [...]
Truss’ migrant plan a welcome triumph for pragmatism over ideology September 25, 2022 On the face of it, you can see why those sitting in European capitals might scoff at Liz Truss’ plan to open up the door to higher migration in order to assist Britain’s growth push. After all, the vote for Brexit – perhaps not for its architects but unquestionably for many of those who put [...]
‘There is more to come’: Kwarteng hints at more tax cuts September 25, 2022 Kwasi Kwarteng has strongly hinted he will bring in more tax cuts, after today vowing “there is more to come”. The chancellor said Prime Minister Liz Truss had only been in Number 10 for “19 days” and that the pair wanted to continue on a radical economic path. Kwarteng announced the UK’s largest package of [...]
Starmer commits to reversing Truss’ cut to 45p rate of Income Tax September 25, 2022 Sir Keir Starmer has vowed to reverse the government’s decision to cut the 45p top rate of Income Tax for the UK’s biggest earners if Labour wins the next election. The Labour leader also said he would keep Liz Truss’ 1p cut to the 20p basic rate of Income Tax. Chancellor Kwasi Kwarteng announced the [...]
Attention turns to Starmer as Labour conference kicks off tomorrow September 24, 2022 Attention has turned to Labour leader Sir Keir Starmer as the party’s annual conference kicks off tomorrow. Taking place in Liverpool from Sunday until Wednesday, the conference will provide an opportunity for Starmer to assert himself as the next prime minister. Supporters hope Starmer will use the meeting to mark the stark divide between his [...]
Treasury denies allegations of gambling with economy as pound falls below $1.10 September 24, 2022 The Treasury has denied allegations of gambling with the UK’s economy as the pound fell below $1.10 for the first time in almost 40 years following yesterday’s mini-budget. Paul Johnson, director of the Institute for Fiscal Studies, said Britain will go on an “unsustainable path” of borrowing following the reforms – the most radical in [...]