Tulip mania was only ever going to end one way January 15, 2025 Yesterday, I asked whether Tulip Siddiq would still be the City minister by the end of the day, and just as the sun went down we got an answer: nope. Here in the City AM newsroom we shall miss the standing agenda item in our editorial meetings, checking the latest twist of an international corruption [...]
Tulip Siddiq resigns as City minister January 14, 2025 Tulip Siddiq has resigned as City minister, Downing Street has confirmed, amid allegations over her links to the former government in Bangladesh. The Labour MP for Hampstead and Highgate wrote to the Prime Minister Sir Keir Starmer to say that while she had “not breached the ministerial code” continuing in her role as a Treasury [...]
‘Budget hasn’t worked’: Reeves defends China trip as Stride says Brits ‘deserve better’ January 14, 2025 Rachel Reeves has defended her trip to China amid economic turmoil in the UK as MPs argued her Budget “hasn’t worked” and insisted: “The British people deserve better.” The Chancellor appeared in the House of Commons for the first time since last week’s bond market shock threw her public spending plans and fiscal rules into [...]
‘Nothing off the table’: Public spending cuts to be ‘ruthless’, cabinet warned January 13, 2025 Public spending cuts are set to be “ruthless”, the Treasury has reportedly warned cabinet ministers. Departments will have to make “difficult” decisions on their budget priorities, according to an internal letter from No11 about the spending review, the Telegraph reported. While the Prime Minister’s official spokesman confirmed “there’s nothing off the table when it comes [...]
Starmer declines to confirm Reeves will be Chancellor at next election January 13, 2025 Sir Keir Starmer has declined to confirm that Rachel Reeves will be Chancellor at the next general election. The Prime Minister was asked about Reeves’ role following a speech in London on artificial intelligence (AI) and insisted he was “completely confident” in her. However, he declined to guarantee she would still be in post at [...]
Starmer positions the UK as a trailblazer in AI innovation January 13, 2025 Keir Starmer has thrown the weight of Whitehall behind AI in a bid to boost growth and position the UK as a world leader in the sector. On Monday morning, Keir Starmer revealed the UK’s ‘AI Opportunities Action Plan’, a transformative strategy to establish the UK as a global leader in AI. He said: “The [...]
Rachel Reeves to raise Ukraine and Hong Kong human rights on China trip January 11, 2025 Rachel Reeves is expected to raise Russia’s war in Ukraine and issues of human rights in Hong Kong during her trip to China. The Chancellor is visiting Beijing for the first UK-China economic and financial dialogue since 2019, with Bank of England Governor Andrew Bailey and top financial services figures. Ministers are insisting the trip [...]
Rachel Reeves eyeing spending cuts in spring January 10, 2025 Rachel Reeves is considering cutting departmental spending as UK borrowing costs soar, despite risks it could “dampen” activity and “further dent anaemic” growth. The Chancellor is said to be eyeing further reductions to unprotected government departments’ budgets after she ruled out additional tax rises or more borrowing to avoid breaking her fiscal rules following the [...]
The runners and riders to replace under-fire City minister Tulip Siddiq January 10, 2025 Downing Street is reportedly weighing up a number of potential candidates to replace Tulip Siddiq as her position as City minister comes under increasing pressure. Siddiq, the niece of ousted Bangladeshi leader Sheikh Hasina, has been in the headlines since last month when she was named in an investigation into whether her Bangladeshi family embezzled [...]
Liz Truss sends cease and desist letter to Starmer over economy crash claims January 9, 2025 Liz Truss has sent a cease and desist letter to Keir Starmer demanding he stops claiming she crashed the economy. Lawyers acting on behalf of the former Prime Minister wrote that the statement is “false and defamatory”, in a letter to Starmer in which they threatened to pursue legal action if he keeps making the [...]