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

UK economy is ‘strong’ and heading for ‘radical change’

She is also expected to say that the UK-US trading relationship must act as a counter to protectionism and authoritarian regimes. “The UK-US economic partnership is the clearest possible example of why free trade and free markets are not just integral to our growth but to the freedoms we share,” she is expected to say. … Read more

White House seeks to tackle food insecurity at first hunger conference since 1969

CNN  —  Groceries cost 13.5% more than they did a year ago. Nearly 25 million adults live in households where there isn’t always enough to eat. Some 40% of food banks saw increased demand this summer. At a time when the affordability of food is in the spotlight, the Biden administration is hosting a White … Read more

Yvette Cooper vows to scrap the Tories’ Rwanda migrant plan

Wes Streeting, the shadow health secretary, has been given the critical job of teeing up Sir Keir Starmer’s big speech this afternoon.  Mr Streeting is on the morning media round for Labour and he has been arguing that the party is ready for power, claiming it will fix “broken” Britain.  Asked how Sir Keir intends to … Read more

Vladimir Putin grants former NSA contractor Edward Snowden Russian citizenship

CNN  —  Russian President Vladimir Putin has granted former NSA contractor Edward Snowden Russian citizenship, according to an official decree published on the Russian government portal Monday. Snowden is accused of espionage and theft of government property in the US for leaking troves of information on American intelligence and mass surveillance programs to the media. … Read more

Keir Starmer accused of lacking the ‘fight’ to reverse Tory tax plans

Sir Keir also faces a backlash from MPs on the Labour Left at this year’s party conference, which began on Sunday in Liverpool. Richard Burgon, who sat in Jeremy Corbyn’s shadow cabinet, said: “We must never take any voters for granted. When people are standing up to the policies of this government, we must stand … 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

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