Liz Truss must hold her nerve as the world tips into a calamitous recession

For the past 25 years, and especially since the financial crisis, the global economy has taken a disastrous wrong turn for which we are about to pay a hideous price. In one of the gravest intellectual errors since communism, many of the world’s cleverest people thought they had discovered the secret to perpetual prosperity. Forget … Read more

Government deal with France over migrant crisis cancelled over Emmanuel Macron ‘friend or foe’ row 

French sink migrant deal in a fit of pique: Joint beach patrols on northern coast are cancelled at the 11th hour amid anger over Emmanuel Macron ‘friend or foe’ row Boris Johnson’s government was set to make deal with France on migrant boats Liz Truss’s remarks over Emmanuel Macron being ‘friend or foe’ led it … Read more

Immigration must fall even as Britain pushes for growth, Liz Truss told

Ms Truss’s immigration review will consider whether changes need to be made to the shortage occupations list, which will allow key sectors to recruit more overseas staff. It could also endorse a loosening of the requirement to speak English in some sectors to enable more foreign workers into the country. Downing Street sources said the … Read more

Scottish fund managers and US bankers to flock to London as Kwarteng fires up the City

Meanwhile the tax disparity has sparked consternation in Scotland about the effect on Edinburgh, the major financial centre north of the border. Benny Higgins, a Scottish banker and former business adviser to Nicola Sturgeon, said: “A 1p gap may be seen by me and my peers as tolerable and understandable, but a 6p gap would … Read more

Tories to rebel against Liz Truss if pound falls below the dollar

“This Budget will live or die not on what the electorate think, not on what Opposition politicians think, not even what Conservative politicians think,” they said. “It is the global markets’ response to what looks like very risky behaviour from our Government.” They added: “The Bank of England is being backed into a corner. “If … Read more

Armed Forces to grow thanks to £52bn spending boost

Mr Wallace continued: “Without the change, we were heading to below 2 per cent. But on current forecast, that’s roughly a defence budget of £100 billion in 2029-30. We’re currently on £48 billion. So that’s the difference. In eight years, that’s a huge amount. “What we have to work through is how we get there. … Read more

Liz Truss plans to cut taxes further in the new year

Those familiar with discussions say the Treasury believes lifting the lifetime allowance on pension pots could encourage doctors, police officers and highly paid nurses to remain in work. Under the current system, savers are forced into paying 55 per cent tax on pension pots valued at more than £1 million, prompting many to retire instead in … Read more

Kwasi Kwarteng announces tax cuts worth £45bn

Simon Clarke, the Levelling Up Secretary, is on the morning media round for the Government as he sets the scene ahead of Kwasi Kwarteng’s “mini-Budget”.  Mr Clarke was told during an interview on Sky News that the Institute for Fiscal Studies think tank had described Liz Truss’s strategy for achieving economic growth as “a gamble … Read more

PayPal’s censorship marks a vicious new phase in the war on free speech

The Labour Party conference opens in Liverpool this weekend and the main attraction will, as always, be the stalls run by volunteers. The passionate, committed and usually humorous activists are always there, selling “never kissed a Tory” T-shirts and Corbyn memorabilia. There will be communist sympathisers, Venezuela apologists and backers of all kinds of lost … Read more

Jacob Rees-Mogg claims fracking opponents are funded by the Kremlin

But in a written statement to MPs on Thursday, Mr Rees-Mogg suggested that the risk of further earthquakes was worth taking, and that more data could be collected when drilling resumes. “While HM Government will always try to limit disturbance to those living and working near to sites, tolerating a higher degree of risk and … Read more