7 h. ago Trump administration may exclude government spending from GDP, obscuring effect of Doge cuts

Howard Lutnick’s remarks echo Elon Musk, who says government spending doesn’t create value for US economyUS politics live – latest updatesHoward Lutnick, the US commerce secretary, said on Sunday that government spending could be separated from gross domestic product reports, in response to questions about whether the spending cuts pushed by billionaire businessman Elon Musk’s so-called “department of government efficiency” (Doge) could possibly cause an economic downturn.“You know that governments historically have messed with GDP,” Lutnick said on Fox News Channel’s Sunday Morning Futures. “They count government spending as part of GDP. So I’m going to separate those two and make it transparent.” Continue reading...

Politics

7 h. ago US may exclude government spending from GDP, obscuring effect of Doge cuts

Howard Lutnick’s remarks echo Elon Musk, who says government spending doesn’t create value for US economyUS politics live – latest updatesHoward Lutnick, the US commerce secretary, said on Sunday that government spending could be separated from gross domestic product reports, in response to questions about whether the spending cuts pushed by the billionaire businessman Elon Musk’s so-called “department of government efficiency” (Doge) could possibly cause an economic downturn.“You know that governments historically have messed with GDP,” Lutnick said on Fox News Channel’s Sunday Morning Futures. “They count government spending as part of GDP. So I’m going to separate those two and make it transparent.” Continue reading...

Politics

27 h. ago The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts

Commerce Secretary Howard Lutnick says he could take government spending out of his agency's reports on gross domestic product

Politics

3 d. ago Fact check: Government plans will see defence spending hit 2.5% of GDP

It is unclear what the Prime Minister is using to claim that the increase would be £13.4 billion per year.

Politics

5 d. ago Vladimir Putin mouthpiece says UK 'perfect' target for nuclear weapons in rant

Vladimir Putin's propagandists have threatened to test nuclear weapons on Britain in response to Keir Starmer's announcement yesterday that the Government will spend 2.5% of GDP on defence by 2027

Events

6 d. ago Starmer announces big cut to UK aid budget to boost defence spending

PM confirms rise in military spending to 2.5% of GDP by 2027 – three years earlier than plannedUK politics live – latest updatesKeir Starmer has announced drastic cuts to Britain’s international aid budget to help pay for a major increase in defence spending, amid fears over Donald Trump’s commitment to European security.The prime minister said the UK government would increase defence spending to 2.5% of GDP by 2027 – three years earlier than planned – as he prepared for what is likely to be a diplomatically fraught visit to Washington DC this week. Continue reading...

Economics

1 week ago South Korea calls on Trump administration to exclude their country from trade tariffs

The state-run Korea Development Institute has downgraded its growth forecast for the national economy to 1.6% in 2025

Politics

1 week ago ‘Like a cruel auction’: what Ukrainians think of Trump’s peace talks with Putin

Ukrainians inside the country and abroad express their hopelessness, anger and defiance at negotiations between Washington and MoscowEurope live – latest updates“I don’t think that this ‘peace process’ is for Ukrainians’ sake. It is laughable that they pretend it is,” said Iryna, 26, a lawyer from Kyiv.Iryna was among thousands of Ukrainians who got in touch with the Guardian to share how they felt about the Trump administration-led peace talks with Russia, which exclude Ukraine. Continue reading...

Politics

1 week ago South Korea seeks exemption from Trump’s proposed tariff hikes

South Korean officials have asked the Trump administration to exclude their country from U.S. plans to impose aggressive tariffs on trade partners

Politics