£62bn of spending cuts needed to balance books, IFS forecasts October 11, 2022 Liz Truss and Kwasi Kwarteng will need to slim the size of the state by £62bn to put the UK’s public finances on a stable footing, a top economic think tank said today. The prime minister and chancellor could be forced to reduce education and transport spending, which suffered deep cuts during the David Cameron [...]
Sturgeon wants to inspire? Her campaign is based on finger-pointing, not potential October 10, 2022 Nicola Sturgeon, yesterday, at SNP conference: “Let us inspire with hope in our hearts.” It would take a heart of stone not to laugh. This is, after all, the same Sturgeon who spent much of her speech bemoaning Westminster, the Labour party, and “aggressive unionism” for holding Scotland back – which sounds to us a [...]
Sturgeon says she’ll ‘never give up’ on independence as referendum court hearing to start October 10, 2022 Nicola Sturgeon has said she will “never, ever give up” on Scottish independence, just a day before a Supreme Court hearing will begin over the legality of a new referendum. The Scottish First Minister claimed at the SNP’s annual conference that “the nations of these islands will work together better with independence than we do [...]
Truss U-turns on her choice of new top Treasury official October 10, 2022 Liz Truss has reportedly U-turned on her choice for the new top Treasury official and will install the former top Number 10 civil servant under David Cameron. Truss and chancellor Kwasi Kwarteng were set to appoint Antonia Romeo – permanent secretary at the Ministry of Justice and someone considered an outsider to the “Treasury orthodoxy”. [...]
OBR financial report and government fiscal plan to be delivered on 31 October October 10, 2022 The UK’s spending and borrowing watchdog’s assessment of the government’s tax cutting splurge will be released on 31 October, chancellor Kwasi Kwarteng announced today. In a letter to Tory MP and chair of the treasury select committee, Mel Stride, Kwarteng said he has decided to bring the Office for Budget Responsibility’s (OBR) forecasts forward from [...]
More than 100 arrests after environmental activists block central London October 10, 2022 The Met Police made more than 100 arrests after environmental activists blocked parts of central London this weekend. Campaigners from Just Stop Oil and Animal Rebellion were detained by authorities after protesting at landmarks including Westminster Bridge and Piccadilly Circus. Police arrested activists in Berwick Street who were intending to cause criminal damage, seizing items [...]
Kyiv rocked by series of explosions in reported retaliation for Crimea bridge blast October 10, 2022 Ukraine’s capital Kyiv was hit by a number of explosions on Monday morning, as the Kremlin hit back in wake of the alleged sabotage of a bridge in Crimea. The blasts just after 8am in Kyiv hit near its old town and government offices, days after Russia blamed Ukraine for a huge explosion on a [...]
Truss to reset premiership as parliament returns from conference recess October 10, 2022 Liz Truss will hope to reset her premiership as parliament returns today, after warning her MPs that the Tories face electoral wipeout unless they row in behind her. The Prime Minister is reportedly planning to bring forward more supply-side reforms this week in a bid to grasp the agenda and provide more clarity around her [...]
Kwarteng to meet with IMF after it cautioned chancellor over mini-Budget October 9, 2022 Kwasi Kwarteng will travel to Washington, DC this week to meet with the International Monetary Fund (IMF) for the first time as chancellor. Kwarteng is travelling to the US for the IMF’s annual meeting, the first of its kind in-person since Covid, where he is expected to meet with its managing director Kristalina Georgieva. He [...]
City groups rally Kwarteng on post-Brexit financial services reforms October 9, 2022 City groups are calling for more speed and clarity from the government over proposed changes to the financial services rulebook post-Brexit as the Chancellor comes closer to outlining his plans to unleash the City. TheCityUK tonight urged the Treasury to bring forward changes to “ensure continued high-quality proportionate regulation”, while UK Finance called for “a sustained [...]
