Watch: Labour’s ‘total clusterf**k’ July 3, 2025 It wasn’t supposed to be like this. Exactly a year ago the Labour government swept into office promising stability, competence and economic growth. So why, on the one year anniversary of their victory, does it feel like their dying days? This has been a pretty extraordinary week in British politics and it’s a week that [...]
Consumer spending drives ‘healthy pickup’ for UK businesses July 3, 2025 Consumer and business spending has led to a “healthy pickup” in business activity, fresh research has suggested, despite concerns income had been squeezed by higher taxes and energy bills. The Labour government was recently dealt a blow as the Office for National Statistics (ONS) revealed the UK economy contracted by 0.3 per cent in April, [...]
Gilts back to where they were before Rachel Reeves’ tears July 3, 2025 UK government bonds have settled back to prices seen before Rachel Reeves was seen crying at PMQs as bond markets were soothed by Keir Starmer’s warm words about the chancellor. The prime minister said Rachel Reeves was a “great colleague” and re-affirmed she would be the chancellor for “a very long time to come”. Bond [...]
Keir Starmer rocked by full-blown crisis as PM marks first year in office July 3, 2025 Keir Starmer is facing a full-blown political crisis as he marks his first year in office under pressure from disgruntled MPs, frustrated businesses and jittery financial markets. Speculation grew yesterday that Chancellor Rachel Reeves could be ousted from Number 11 after the PM failed to back her during questions in the House of Commons, with [...]
A year of hard Labour: UK plc’s verdict on Starmer and Reeves July 3, 2025 Just a year ago, Keir Starmer’s Labour party won an historic general election victory having promised to be “the most pro-business government this country has seen’. Ali Lyon sees whether industry and business leaders feel the party has met that vow 12 months on. As some of the great and good of Britain’s storied business [...]
Labour versus the bond markets, businesses and ballots July 3, 2025 Birthdays aren’t best celebrated on a hangover but Labour’s senior leaders will be waking up with a painful headache this morning after haemorrhaging support from both bond markets and backbenchers. As dozens of Labour MPs discovered the level of influence they held over whips in parliament, unsympathetic bond traders flexed their own powers as medium-term [...]
Business confidence hit by tax fears as Rachel Reeves’ headroom crumbles July 2, 2025 British business confidence has been hammered by Labour’s tax blows but fears remain heightened the government will return for more. A survey by the British Chambers of Commerce (BCC) revealed 56 per cent of firms were particularly concerned about their tax burden, which comes as Prime Minister Sir Keir Starmer failed to rule out further [...]
Sacking Reeves would make a bad situation even worse July 2, 2025 This government has made plenty of mistakes but ditching Rachel Reeves would be by far the biggest. While my advice to ministers remains “I wouldn’t have started from here” I have to recognise that a misstep now could make a bad situation worse. And the situation is bad. As Labour marks its first full year [...]
Gilt yields spike as doubt grows over future of Rachel Reeves July 2, 2025 Gilt yields spiked shortly after Keir Starmer refused to confirm whether Rachel Reeves would remain as Chancellor in an eventful PMQs during which she appeared visibly upset. The prime minister defended the government’s U-turn on the welfare bill, which could now prevent Labour from making £4.8bn savings baked into the Office for Budget Responsibility (OBR)’s [...]
Reeves on growth ‘hell slide’ after welfare U-turn as rebels call for wealth tax July 2, 2025 Rachel Reeves faces a “hell slide” in her ambition to balance economic growth with her “iron clad” fiscal rules following Labour’s U-turn on welfare. The Chancellor had hoped government plans for welfare reform would shed £5bn in spending as they targeted restrictions on personal independence payments (PIP) and limited the sickness-related element of universal credit. The [...]