8 h. ago Is Trump’s America still an ally to the UK? – Politics Weekly UK

The news that the US had suspended military aid to Ukraine stunned world leaders and led to a rapid reassessment of how much we can really rely on our American ally. Is this the end of the western alliance? John Harris asks our diplomatic editor, Patrick Wintour. Plus, as the UK pledges to boost defence spending by slashing our foreign aid budget, ActionAid’s CEO, Taahra Ghazi, tells John about the fallout for organisations working on the ground.Send your questions and feedback to politicsweeklyuk@theguardian.com Continue reading...

Politics

18 h. ago European markets soar as Germany moves to lift ‘debt brake’ and raise defence spending

Berlin’s ‘big bazooka’ proposal sends industrial stocks surging but fiscal sea change also hikes borrowing costsBusiness live – German debt ‘bazooka’ rallies stocks and euroEuropean financial markets have rallied sharply and German borrowing costs have soared after the country’s prospective leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defence.The yield – in effect the interest rate – on 30-year German government bonds rose by about 25 basis points to 3.08% in its biggest daily increase since October 1998. Continue reading...

Economics

19 h. ago ‘A risky bet’: Friedrich Merz criticised over plan to lift Germany’s debt rules

Chancellor-in-waiting accused of taking part in ‘debt orgy’ after proposing loosening rules to boost defenceGermany’s chancellor-in-waiting, Friedrich Merz, is facing a barrage of criticism from opposition politicians over his radical proposals to loosen rules on running up debt to allow for higher defence spending and boost the economy.The CDU/CSU leader’s proposals for a multibillion-euro package, agreed with his potential coalition partners the Social Democrats, have been described as everything from a “bazooka” to “an extremely risky bet” by economists. He himself has called them vital “in light of the threats to our freedom and peace on our continent”. Continue reading...

Events

20 h. ago Labour MP says Starmer ‘taking the axe’ to UK’s aid budget to fund defence

Labour MP for Rotherham Sarah Champion also said a ‘scandalously large amount of ODA’ had been spent ‘on domestic refugee costs’.

Economics

24 h. ago European markets soar as Germany lifts ‘debt brake’ to raise defence spending

Berlin’s ‘big bazooka’ move sends industrial stocks surging but fiscal sea change also hikes borrowing costsBusiness live – German debt ‘bazooka’ rallies stocks and euroEuropean financial markets have rallied sharply and German borrowing costs have soared after the country’s prospective leaders announced a historic deal to loosen its “debt brake” rule to boost spending on defence.The yield – in effect the interest rate – on 30-year German government bonds rose by 16 basis points, after having earlier jumped by as much as 25 basis points to 3.07% in its biggest increase since October 1998. Continue reading...

Economics

27 h. ago German borrowing costs soar after Merz deal to boost military and infrastructure spending

Proposal to relax borrowing rules described as ‘sea change’ for debt issuance

Economics

28 h. ago China targets 5% growth and increases defence budget to assert territorial dominance

Chinese premier Li Qiang announces optimistic target and delivers government's annual work report to national parliament

Events

30 h. ago German borrowing costs soar as Merz moves to ease debt brake

Proposal to relax borrowing rules described as ‘sea change’ for debt issuance

Economics

37 h. ago Starmer faces growing concerns from MPs over ‘brutal’ cuts to foreign aid budget

Sir Keir Starmer is facing increasing pressure from MPs over his decision to cut the overseas aid budget to fund an increase in defence spending

Politics

41 h. ago Germany’s Merz strikes debt deal to fund defence and infrastructure

Chancellor-to-be moves to relax debt brake in ‘sea change’ from country’s conservative approach to borrowing

Economics

41 h. ago Germany’s future coalition partners to relax debt rules to boost defence budget

Conservative alliance and Social Democrats to propose exempting spending of more than 1% of GDP on defenceThe prospective partners in Germany’s next government have said they will seek to loosen rules on running up debt to allow for higher defence spending.They said they will also seek to set up a huge €500bn ($533bn ) fund to finance spending on Germany’s infrastructure over the next 10 years. Continue reading...

Economics

62 h. ago Keir Starmer faces growing pressure from senior Labour MPs over his decision to cut the overseas aid budget to fund increase in defence spending to 2.5 per cent of GDP

Labour MPs lined up to criticise the move in the Commons on Monday, with Barry Gardiner warning it would lead to more 'more people being slain by famine, drought, disaster and war'.

Economics

3 d. ago State Pension inheritance rule helps more than two million people boost payments by over £5,000

More than half a million pensioners were receiving over £5,000 a year in inherited Serps payments in 2023/24.

Economics

5 d. ago Downing Street announces Anneliese Dodds' replacement hours after she quit over Keir Starmer's decision to slash the UK's aid budget to boost defence spending

Baroness Chapman of Darlington has been appointed the new minister for international development, just hours after Anneliese Dodds dramatically quit today

Economics

5 d. ago Cabinet minister Anneliese Dodds QUITS over Keir Starmer slashing billions from aid budget because she says 'it looks like UK is following in Trump's footsteps'

Development minister Anneliese Dodds has resigned warning that the reduction will only increase the influence of Russia and China.

Politics

6 d. ago Anneliese Dodds quits as international development minister over aid budget cut

Scottish Labour MP quits ‘with sadness’ following move to raid aid budget to increase defence spending

Politics

6 d. ago Anneliese Dodds resigns from Government over Keir Starmer's cuts to foreign aid budget

Anneliese Dodds has quit as international development minister over Keir Starmer’s decision to slash the international aid budget to increase defence spending.

Politics

6 d. ago Cabinet minister QUITS over Keir Starmer slashing billions of pounds from aid budget to boost defence spending

Development minister Anneliese Dodds has resigned warning that the reduction will only increase the influence of Russia and China.

Politics

6 d. ago Anneliese Dodds quits cabinet over aid cut in blow to Keir Starmer

Anneliese Dodds walked out as international development minister following the decision to slash the aid budget in order to fund an increase in defence spending

Politics

6 d. ago Anneliese Dodds resigns over Keir Starmer’s decision to cut aid budget

Exclusive: International development minister warns it will be ‘impossible’ to retain funding in Gaza, Sudan and UkraineAnneliese Dodds: soft left intellectual pushed to resign over Starmer’s slide rightUK politics live – latest updatesAnneliese Dodds, the international development minister, has quit her post over Keir Starmer’s decision to slash the international aid budget by almost half to pay for a generational increase in defence spending.The senior Labour MP, who attended cabinet, warned that the UK pulling back from development would bolster Russia, which has already been aggressively increasing its presence worldwide, as well as encouraging China’s attempts to rewrite global rules. Continue reading...

Politics