Our national debt is a crisis but at least we got a good dance track out of it Economics Monday 24 November 2008, and MPs are gripped by one of the most consequential parliamentary debates of the past 30 years. As Chancellor, the late Alistair Darling had just told the House that his pre-Budget statement was being “made against a background of economic uncertainty not seen for generations” and that they had gathered in [...]
Our debt addiction can only end in tears Economics In December 2009, ratings agency Fitch downgraded Greek sovereign debt from A- to BBB+ following a dramatic few weeks in which the state of the country’s public finances were laid bare. By February, riot police in Athens were firing stun grenades and tear gas as they struggled to maintain public order. What followed was years [...]
Bank regulation, not austerity, explains why Britain is poorer than America Opinion When it comes to Britain’s stagnant growth, we must first diagnose the root cause. That starts in the City, writes Daniel Freeman Britain has never really recovered from the Great Financial Crisis, and we will soon be entering our third lost decade of economic growth. Before 2008, the UK and US economies grew at an almost identical rate. Per [...]
Burnham must walk a tightrope on his ascent to Downing Street June 19, 2026 After Andy Burnham cleared the path for a run at the Labour leadership with an emphatic win in the Makerfield by-election. Maurício Alencar sketches out what an Andy Burnham government could look like – and the balancing act he faces on the way there Despite romping home to victory in the Makerfield by-election on Friday, [...]
Kemi Badenoch welcomes Javier Milei on Falkland Islands ‘competition’ November 13, 2025 Tory leader Kemi Badenoch has said she found it “fascinating” that Argentinian president Javier Milei wanted to make his country so great that Falkland Islanders would want to change nationalities. In a 15-minute speech to Latin American investors and academics, Badenoch praised the anarcho-capitalist leader for his austerity programme in Argentina that has lowered inflation [...]
Brace for impact – the sorry state of the UK public finances September 23, 2025 Let’s be clear, staggering borrowing figures despite substantial tax rises are a direct result of excess spending, says Ewen Stewart When numbers become big they start to lose meaning. The latest public sector borrowing numbers published by the ONS are big. But let’s make no mistake, borrowing £18bn in one month has very great meaning. [...]
Spending review: Labour’s economy is austerity for the taxpayer June 11, 2025 'Austerity' isn’t just about reducing public expenditure – it also applies to tax hikes, writes John O'Connell following the Spending Review.
Week in Business: Will Starmer Slash the State? March 13, 2025 Javier Milei, Elon Musk, and now Keir Starmer? The PM says he wants to reform the state - just don't call it austerity.
Labour conference: Reeves challenged over consumer ‘fear and foreboding’ September 23, 2024 Rachel Reeves has been challenged over claims the government has “generated a fear and foreboding” among consumers – but insisted she was “optimistic” about the economy. Ahead of her keynote speech to the Labour Party conference in Liverpool today, the Chancellor was challenged on Sky News over last week’s fall in consumer confidence to the [...]