The British government on Wednesday said it would cap wholesale electricity and gas costs for businesses at less than half the market rate from next month, helping relieve the pressure of soaring energy costs but adding to the government’s fast-rising spending.
One accusation levelled at the government is that after 12 years of Tory rule, Britain is broken. Inflation is soaring, growth is stagnant, and the NHS is on its knees. Of course, it should come as little surprise that we are experiencing massive disruption. After a global pandemic and two years of on-off lockdowns, we are not alone in
Rarely, outside of rallycross and supermarket car parks frequented by joy riders, can a U-turn have been executed so rapidly. The plan to ditch the 45p top rate of tax has been scrapped. The emblem of the drive to make the British abandon their obsession with “fairness” is no more. So much for the “plan for growth”, then. So much for Kwasi
This week I gave my inaugural lecture to my first-year medical students. My message was simple: everything affects our health. Who we are, what we do, where we work, who we love, where we come from — all of it. Which is why, as we doomscroll through the bin fire that is our current government and their dogged
For the past few years, the US and the UK have followed strikingly similar political trajectories. Against all odds, populist uprisings captured both countries’ conservative parties, secured power and embarked on projects of national transformation. These efforts went badly (to put it generously), and in due course
Union bashing: it’s the same tired old song, deployed whenever the Tories are feeling the pinch. And sometimes even when they aren’t. In that respect, Liz Truss raging against “militant unions” and their alleged part in her comical “anti-growth coalition” was just so much scratched vinyl. My, how that party needs a new stylus.
“This is reassurance week,” one ally of Liz Truss told me. There’s one problem: the financial markets, Conservative MPs and in turn, the public are far from reassured, despite the government’s more conciliatory tone. Last month’s mini-Budget already seems like a long time ago but it continues to haunt Liz Truss and Kwasi Kwarteng.
Usually, the market in political commentary overshoots. Every other week for Tony Blair was his “worst week ever”, as Alastair Campbell used to say. Gordon Brown was written off and then managed to claw back enough ground to deny the Conservatives a majority. Theresa May could do no wrong, and then she could do no right, but
His removal comes after media reported he was being sacked before a news conference by Truss when she is expected to scrap parts of their economic package in a bid to survive the market and political turmoil gripping the country.