‘Economically reckless’ – Streeting calls for wealth tax ‘that works’ in pitch for leadership May 21, 2026 Wes Streeting has called for a “wealth tax that works” as the former health secretary sets out his stall ahead of an expected Labour leadership contest later this year. Streeting resigned from the cabinet earlier this month and has confirmed that he would stand in a contest to oust Sir Keir Starmer, though he has [...]
You don’t have to be a chav to lead the Labour Party, but it helps! May 21, 2026 Rather than a grand battle of big ideas or a serious debate about why this government has blundered so much, Labour’s looming leadership contest looks set to be a depressing competition to see who had the grimmest childhood, laments James Ford Did your dad have a blue-collar job? Did you live in social housing? Did [...]
Burnham’s ‘neoliberalism’ critique is just Thatcher karaoke May 21, 2026 The British economy today is a million miles away from “neoliberalism”, even if we lack a catchy name to describe what has replaced it, says Kristian Niemietz For some countries, we have well-developed national stereotypes and associations. Everyone has an idea in their mind of what counts as “typically French”, “typically Italian” or “typically German”. [...]
Wes Streeting urges Labour to help youth ‘as an emergency’ May 20, 2026 Wes Streeting has called on the government to support young people “as an emergency” in a resignation speech that accused Sir Keir Starmer of leading a losing battle against Reform UK. Streeting said he supported Chancellor Rachel Reeves’ economic agenda before the Iran war broke out and upended policy-making, though he suggested the Labour leadership [...]
Starmer scrambles to limit fuel shortage hit May 20, 2026 Sir Keir Starmer has spelt out a number of policies to address fuel shortages, signalling the government’s fears that the Iran war could hit motorists and households. During Prime Minister’s Questions, Starmer defended an announcement last year to “phase” new sanctions on Russia, while also trailing a policy to freeze a 5p fuel duty cut [...]
My generation has only known political chaos May 20, 2026 Not since Tony Blair has Britain had a political leader who was able to win a general election and actually enact major policy change. Which means that for people of my generation and younger, our entire adult lives have been lived under governments who couldn’t actually govern, says Emma Revell Here we go again. After a [...]
The Square Mile gets its fourth City Minister – could it soon get its fifth? May 20, 2026 Four City minsters later, in this week’s column Samuel Norman takes a look at the blow to the Square Mile from the latest reshuffle. Also on the agenda: Revolut’s plans for the high net worth faces off with ambitions of incumbents. “Look for the girl with the sun in her eyes…” So goes the lyrics [...]
‘Lost for words’ – Treasury sparks uproar with push to cap supermarket food prices May 19, 2026 The Treasury is putting pressure on supermarkets to cap prices on staple groceries as a quid pro quo for axing taxes and red tape amid fears the Iran war is set to unleash a painful bout of food inflation. According to leaked negotiations between major retailers and the government, the Chancellor’s officials have been pushing [...]
OBR chiefs warn jostling Labour MPs against fiscal rules change May 19, 2026 Office for Budget Responsibility chiefs have warned Labour activists against changing the fiscal rules and overall framework to account for longer term impacts of government investment. The OBR’s David Miles and Tom Josephs said a ten-year forecast horizon would make for a “less credible” economic report and may not have any impact on bond investors. [...]
Unemployment back up as UK job vacancies fall May 19, 2026 Unemployment crept back up despite a fall in last month’s data as it was shown that the UK jobs market weakened in the last quarter. The Office for National Statistics said the UK unemployment rate was five per cent in the three months to March 2026. The unemployment rate had dropped to 4.9 per cent [...]