PMQs: Starmer insists Reeves will be Chancellor for ‘many years to come’ January 15, 2025 Sir Keir Starmer has insisted Rachel Reeves will be Chancellor for “many years to come” as Kemi Badenoch lambasted her for losing the confidence of the markets. During Prime Minister’s Questions in the House of Commons, the Conservative leader hit out at Reeves, arguing: “The Prime Minister claims he has full confidence in the Chancellor, [...]
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 [...]
Reeves is in a fiscal trap and spending cuts are the only way out January 14, 2025 Rachel Reeves’ Budget created a vicious circle whereby higher taxes increased borrowing costs, squeezing the public purse and further and tempting the Chancellor into further tax rises to meet fiscal targets. There is another way, says Darwin Friend Rachel Reeves is trapped in a vicious fiscal circle of her own making. Her high-tax budget, billed [...]
It’s hard to see how City Minister survives the week January 14, 2025 Will Tulip Siddiq still be the City minister by the end of this week? It’s an important question, for a number of reasons. Siddiq’s fate matters a great deal to Keir Starmer and the government, because nobody wants to lose an anti-corruption minister to a corruption scandal. It matters to the wider Labour party because [...]
Labour is squandering Britain’s lead on the AI revolution January 14, 2025 The UK is well positioned to lead the coming AI revolution, but the Labour government is doing everything it can to undermine this country’s strength in tech, says Alan Mak The UK is on the cusp of a technological revolution. AI offers a wealth of growth opportunities and Britain can be a world leader in [...]
‘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 [...]
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 [...]