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

31 h. ago Kemi Badenoch says UK must 'prepare for the worst' by hiking defence spending to 3% of GDP by 2029

Kemi Badenoch urged Keir Starmer to seek 'peace through strength', saying that was the only thing Russia respected.

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

4 d. ago Boost for Starmer ahead of crunch Trump talks: US officials praise UK hiking defence spending to 2.5% of GDP and PM's offer of troops for any Ukraine peace deal

US officials praised the UK's commitment to hike spending on defence to 2.5 per cent of GDP, and the PM's offer of troops for any Ukraine peace deal.

Politics

5 d. ago Keir Starmer FAILS to rule out Labour's defence spending boost being used to fund £9billion deal to hand Chagos Islands to Mauritius

The Prime Minister has announced that Britain's defence spending will rise from its current 2.3 per cent of GDP to 2.5 per cent in 2027.

Economics

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

5 d. ago Rachel Reeves warns European allies that global trade is at risk unless they follow UK's new ambition to spend 3% of GDP on defence as she attends G20 in South Africa

Chancellor Rachel Reeves will insist Western powers must 'step up and do more' or face huge penalties from disruption to trade.

Events

5 d. ago A Bangladesh 'shrimp health' study, a Porsche deal for Albanian prisons and 'inclusion' in the DRC: How foreign aid is spent amid Labour row over using cash for defence instead

Sir Keir said defence spending would rise to 2.5 per cent of GDP by 2027 in the wake of the Trump administration's decision to leave Europe to fend for itself and move closer to Russia .

Economics

6 d. ago UK foreign aid: How much is spent and who receives it as Starmer slashes budget

UK foreign aid will be slashed from 0.5 to 0.3 per cent of GDP to fund an increase in defence spending

Economics

6 d. ago Watch: Starmer defends cutting foreign aid budget to boost defence spending

Watch as Sir Keir Starmer holds a press conference on Tuesday, 25 February, after announcing he will slash the foreign aid budget to hike defence spending to 2.5 per cent of GDP to counter “tyrants” like Vladimir Putin.

Economics

6 d. ago Starmer slams accusation he is ‘Farage in disguise’ over defence spending increase

Sir Keir Starmer dismissed an accusation he is "Nigel Farage in disguise" over his plans to slash the foreign aid budget to hike defence spending to 2.5 per cent of GDP to counter “tyrants” like Vladimir Putin.

Politics

6 d. ago We must stop Putin in Ukraine to protect Europe: Keir Starmer puts UK on a war footing by increasing defence spending to 2.5% of GDP

The Prime Minister pledged to accelerate an increase in the UK's defence spending in the face of Russia's belligerence and growing US indifference to European security.

Politics

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

6 d. ago Watch live: Starmer defends cutting foreign aid budget to boost defence spending

Watch live as Sir Keir Starmer holds a press conference on Tuesday, 25 February, after announcing he will slash the foreign aid budget to hike defence spending to 2.5 per cent of GDP to counter “tyrants” like Vladimir Putin.

Economics

6 d. ago Keir Starmer vows to slash aid spending to pump 2.5% of GDP into defence by 2027 in dramatic statement to MPs ahead of 'mission impossible' trip to meet Trump in White House

In a dramatic Commons statement, Keir Starmer finally laid out a trajectory for boosting the military amid rising alarm about America withdrawing support.

Events

6 d. ago UK defence spending to rise to 2.5% of GDP by 2027 with aid budget slashed to help fund move

Keir Starmer says now is the time to deepen European security, as he announces move in the CommonsThe rightwing historian Niall Ferguson is in the audience for Badenoch’s speech, according to James Heale from the Spectator.Niall Ferguson spotted at Kemi Badenoch’s big speech on foreign affairs hearing we might get some policy tooTractors’ horns interrupt Badenoch’s speech shortly after she begins speaking. Attendant spinner heard swearing furiously Continue reading...

Economics

6 d. ago Kremlin disputes Trump claim Russia would accept Nato peacekeeping troops in Ukraine – live

Kremlin says it has nothing to add to the foreign ministry’s position on the unacceptability of Nato peacekeepers in UkraineUkraine’s presidential press service has issued a photograph showing president Volodymyr Zelenskyy introducing the world leaders visiting Kyiv some new developments in Ukraine’s defence industry.British prime minister Keir Starmer is set to announce a cut to the country’s aid budget to immediately hike defence spending to 2.5% of GDP, ahead of his visit to the White House on Thursday, according to The Sun. Continue reading...

Politics

6 d. ago Boris Johnson urges Keir Starmer to boost UK defence spending to 3% of GDP

Speaking from Kyiv on the third anniversary of the start of the conflict, he demanded a rise to at least three per cent of GDP to help guarantee European security against Russian aggression.

Politics