6 d. ago UK politics live: Gordon Brown calls for extra defence spending to be exempt from fiscal rules

Former PM says ‘exceptional’ aim to spend 5% of GDP should be a joint Nato and European initiative financed via bonds or a defence fundGood morning. In every era in politics there are claims that the current generation of politicians aren’t as impressive as the ones that came before. A lot of this is just false memory warped by nostalgia, but in the UK at the moment there are eight former prime ministers and they provide a sub-set that does, sort of, stand up the theory.Five of them were in office after 2010 – David Cameron, Theresa May, Boris Johnson, Liz Truss and Rishi Sunak – and their contribution to public life at the moment is, frankly, minimal, or negative. But the three who were in office before 2010 – John Major, Tony Blair, and Gordon Brown – remain serious voices. Major is 82, he does not speak out much, but when he does, he is always worth hearing. Blair is running a thinktank actively trying to shape policy in the UK and around the world. And Brown is perpetually engag...

Politics

7 d. ago Keir Starmer REFUSES to rule out tax hikes in the Budget after economists warn Labour is facing a huge £50bn black hole in public finances

The Prime Minister said he didn't recognise 'some of the figures that are being put out' amid suggestions that Rachel Reeves is on track to miss one of her fiscal rules.

Economics

7 d. ago Keir Starmer pushes back at economists' claims Labour is facing a £50bn black hole

The Prime Minister said he didn't recognise 'some of the figures that are being put out' amid suggestions that Rachel Reeves is on track to miss one of her fiscal rules.

Economics

7 d. ago Reeves urged to consider replacing council tax as thinktank warns of ‘impossible trilemma’ for chancellor – UK politics live

The National Institute of Economic and Social Research says government’s spending gap is on course to reach more than £40bnThis is from Chris Giles, economics commentator at the Financial Times, on Bluesky on today’s NIESR report.I see NIESR is talking today about a £41.2bn hole in the UK public financesTwo things are newsworthy: Continue reading...

Events

7 d. ago Rachel Reeves faces ‘impossible trilemma’ and must raise taxes or cut spending to plug £50bn black hole

Leading economists say the chancellor may have to raise taxes, cut public spending or tear up her fiscal rules

Economics

7 d. ago Rachel Reeves faces ‘impossible trilemma’ and must raise taxes or cut spending to plug £41bn black hole

Leading economists say the chancellor may have to raise taxes, cut public spending or tear up her fiscal rules

Economics

7 d. ago Reeves warned of ‘impossible trilemma’ on tax, spending and fiscal rules

Think-tank Niesr urges chancellor to increase income tax rates at her next Budget

Events

7 d. ago Reeves warned she must raise taxes or cut spending to plug £41bn black hole

Leading economists say the chancellor may have to raise taxes, cut public spending or tear up her fiscal rules

Economics

4 w. ago Thousands offered UK asylum in secret scheme after personal data of Afghans who helped British forces leaked by mistake – live

Dataset containing details of thousands of Afghans who applied for relocation to UK released ‘in error’ in 2022Helen Miller is taking over as director of the Insitute for Fiscal Studies thinktank this week, taking over from Paul Johnson, who established himself as the nation’s leading budget commentator.Budget commentary tends to focus on the Treasury’s fiscal rules, on how much “headroom” is available to Rachel Reeves (spare cash in the budget – based on spending plans and anticipated tax revenue, based on the OBR’s growth assumptions), and whether tax or spending plans need to change because the OBR’s forecasts have shifted.Labour came to office with the promise of a ‘mission-driven’ government – a commitment to long-term thinking and systemic reform. The ambition that we should be ‘raising our sights as a nation’ and finding ways to tackle the big challenges we face is the right one.Despite this, we continue to limp from fiscal event to fiscal event, obsessed with whether run of ...

Society