Boris Johnson has lashed out at ‘gloomy’ predictions of coronavirus woe, telling MPs they were too negative because they were made before last week’s vaccine breakthroughs. The Prime Minister made the comment as he addressed anxious backbenchers last night in the wake of Rishi Sunak’s spending review, which revealed the scale of the problem facing … Read more
Downing Street today urged Michel Barnier to come to London to resume face-to-face Brexit trade talks amid reports the EU’s chief negotiator had threatened to walk away from discussions. Top-level talks between Mr Barnier and UK counterpart Lord Frost were suspended last week after a member of the EU team tested positive for coronavirus. Negotiations … Read more
Rishi Sunak will need to find £40BILLION a year in tax rises and spending cuts by the middle of the decade if he wants to balance the books in the wake of the coronavirus crisis, says IFS as it warns UK is in ‘uncharted territory’ Institute for Fiscal Studies said the UK economy is in … Read more
Furlough numbers SURGE in second lockdown with 15 per cent of workers now paid off – the highest level since JUNE – and it is set to go even HIGHER Firms said 15% on average were on furlough between November 2 and 15 Figure up fom 9% in previous survey which covered the second half … Read more
Rishi Sunak defends public sector wage freeze saying state workers had a ‘7 per cent pay premium’ even BEFORE coronavirus hit and the gap is widening Rishi Sunak has defended public sector pay freeze next year in spending review Chancellor said there was a 7% ‘premium’ for state workers before the pandemic Mr Sunak insisted … Read more
‘It’s clear what the shape of the deal looks like’: Rishi Sunak hints UK and EU are on the brink of Brexit trade pact after watchdog warns failure would wipe another 2 per cent off GDP Rishi Sunak said this morning ‘it is clear what the shape of the deal looks like’ The Chancellor said … Read more
Rishi Sunak was today accused of being ‘too optimistic’ and may need to find more cash to tackle Covid-19 despite spending ‘truly astonishing’ amounts trying to keep the British economy afloat. The Chancellor announced yesterday that borrowing would hit almost £400 billion this year, with government spending topping £1 trillion for the first time as the damage … Read more
With Britain in the throes of its greatest peacetime economic emergency, it’s hard to find reasons to be cheerful. Yet, in the midst of the catastrophic figures published yesterday, let’s not forget barely three days have passed since a great British university (Oxford) and a British pharmaceutical giant (AstraZeneca) delivered on the promise of a … Read more
Public sector pay will be frozen next year – but nurses, doctors and the lowest-paid will still get a rise, Rishi Sunak said yesterday. The Chancellor said he could not justify a ‘significant, across-the-board’ hike for the public sector given the difficulties faced by private firms. Many businesses, particularly in retail and hospitality, have been devastated … Read more
Rishi Sunak delivered a formidable speech in the Commons yesterday. The Chancellor’s calm manner and mastery of detail filled me with confidence. His message was that, although Britain is in an ‘economic emergency’, the Government is prepared to spend lots of money we don’t have in order to get us out of it. Better times … Read more