5 articles
• via Sky News
The recent turmoil in the UK bond market is a stark reminder that the Bank of England's independence is a thing of the past. As the government grapples with rising borrowing costs and a faltering economy, the central bank's ability to act as a credible counterweight has been severely undermined.
• via The Guardian
The Bank of England's latest survey reveals UK businesses are cutting jobs at the fastest rate in four years, a direct consequence of Chancellor Rachel Reeves' £25bn employer National Insurance raid. Despite promises of economic growth, the government's policies are systematically destroying the productive capacity they claim to champion.
• via BBC News
As the UK grapples with soaring borrowing costs and fiscal pressures, the gap between political promises and economic realities has never been more pronounced. Rachel Reeves is now faced with the challenge of reconciling these conflicting demands. This analysis delves into the implications for Labour's agenda and the broader political landscape.
• via The Guardian
Britain operates in permanent crisis management mode. Consider the timeline of compounding failures: 2008 financial crisis debt never properly addressed, Brexit economic damage papered over, COVID spending adding unsustainable obligations, Truss's 2022 mini-budget reminding everyone how fragile the whole edifice really is. When treasury officials brief ministers on placating markets before serving citizens, when chancellors design budgets for bond traders rather than voters, you don't need the IMF—you've already surrendered sovereignty, you're just negotiating the terms.
• via The Guardian
Britain's fiscal theatrics have reached a predictable crescendo. Rachel Reeves, having spent months insisting Labour would not raise taxes after their election victory, now finds herself eyeing the most regressive stealth tax available: freezing income tax thresholds to drag more workers into higher tax brackets.