Sunak 1) UK inflation falls to 3.4 per cent and Bank of England mulls interest rate cut in ‘boost’ to the Prime Minister
“Inflation slid to its lowest level in two and a half years last month, strengthening hopes that the Bank of England will cut interest rates in the coming months. The rate of price growth in the UK economy fell to 3.4 per cent in February from 4 per cent in the previous month, according to the Office for National Statistics. Inflation is now running at its slowest pace since September 2021. City analysts had anticipated the rate to decline to 3.6 per cent, and the Bank of England thought it would slip to 3.5 per cent. The downward move comes before the Bank of England’s latest interest rate decision, due at midday on Thursday. The central bank is expected to keep the UK base rate unchanged at a 16-year high of 5.25 per cent for the fifth meeting in a row.” – The Times
- Average disposable income grows as bills fall 4.5 per cent – The Times
- Central banks face a horrible choice, warns the prophet of the Great Recession – Ambrose Evans-Pritchard, The Daily Telegraph
- Hold on to your toast – there’s more monetary tightening coming – David Smith, The Times
- Britain is about to suffer a massive collision with reality – Jeremy Warner, The Daily Telegraph
- Budget tax cuts are just the start – Rishi Sunak, The Daily Mail
>Today:
- Patrick English’s Column: Sunak and Hunt should realise that voters want increased public spending, not tax cuts
Sunak 2) He is to force European leaders to confront ‘the scourge of people smuggling and illegal migration’ at alt-EU summer gathering at Blenheim Palace
“Rishi Sunak will attempt to get European leaders to join his fight against people smuggling in July when the UK hosts a gathering of continental leaders. The Prime Minister today confirmed that the European Political Community summit will take place on July 18 at the historic Blenheim Palace in Oxfordshire. He said that the grouping, including EPC founder Emmanuel Macron, would have the chance to discuss issues including support for Ukraine and ‘stopping the scourge of people smuggling’. It comes after Mr Sunak struggled to get a previous meeting of 47 leaders in Spain to discuss Channel boats, with October’s meeting focusing on AI instead. Britain has played an active part in the EPC since its formation in 2022.” – The Daily Mail
Hunt ‘hints at October date’ for UK general election…
“Jeremy Hunt has hinted that the UK government may hold the next general election in October, which would give the ruling Conservative party less than seven months to turn around its dire position in the opinion polls. The UK chancellor, speaking to the House of Lords’ economic affairs committee on Tuesday, was asked about the chances of the Treasury carrying out a spending review after the election but before next spring. He replied: “Of course, if the general election is in October, that will mean it’s very very tight,” he said. “And that is why we’re thinking in advance.” The Conservatives are about 21 points behind Labour in the polls, which if repeated on polling day would mean a landslide for Sir Keir Starmer’s opposition party after 14 years out of government.” – The Financial Times
- He says the month is the last possible time that would allow for a review of Whitehall budgets before next April – The Guardian
- Holding the vote after the summer could give the Government time to cut taxes, the Chancellor said – The Times
- Tories ‘narrowly back Sunak’ to lead party into next election – The Daily Telegraph
…as he says the future of the triple lock depends on public sector spending cuts
“Britain’s pension triple lock can only be sustained with cuts to public sector spending and better economic growth, Jeremy Hunt has warned. The Chancellor said the promise to keep the state pension rising by the highest of inflation, average earnings or 2.5pc every year, depends on the success of plans to make public services run more efficiently. Asked about the sustainability of the triple lock and the pension age, he said “both those things are kept under review.”… The state pension is due to rise by 8.5pc in April to £221.20 per week, as the payout increases in line with annual pay growth recorded in the three months to July last year. That follows the 10.1pc increase last year which reflected the blistering pace of inflation a year earlier.” – The Daily Telegraph
- He tells Dyson to ‘stand for election’ after ‘fiery’ meeting – The Financial Times
>Today:
- John Redwood’s Column: If the OBR is demanding spending cuts, here are some ideas
Badenoch: Britain’s diversity drive has backfired
“Britain’s diversity drive has been “counterproductive” and done little to reduce prejudice despite millions being spent on inclusivity initiatives, Kemi Badenoch has said. The Business Secretary commissioned a report which found that the majority of spending on equality, diversity and inclusion (EDI) was a waste of money. The report calls on bosses to take into account disadvantages faced by the white working classes when shaping diversity schemes, rather than focusing on “visible” quotas. It comes amid a wider government crackdown on wasteful diversity schemes, with Jeremy Hunt, the Chancellor, using his Budget earlier this month to urge councils to cut spending on such policies… Mrs Badenoch commissioned the independent Inclusion at Work Panel last year…” – The Daily Telegraph
- Report reveals inclusivity training has been ineffective despite millions spent – The Daily Mail
- Compulsory pronouns and rainbow lanyards are not the way to foster inclusion – Kemi Badenoch, The Daily Telegraph
- Another first for multicultural Britain – Philip Collins, The Times
Rwanda flights could be delayed until June
“Rwanda flights could be delayed as the Lords seeks to inflict a series of fresh defeats on Rishi Sunak’s flagship legislation on Wednesday night. Peers will attempt for a second time to amend the Rwanda Bill in a confrontation with the Commons that could push back the first deportation flights by a month. Labour and crossbench Lords have tabled half a dozen amendments that seek to reinstate changes to the Bill rejected by MPs on Monday night. If they are voted through on Wednesday, it could delay the passage of the Bill until after Parliament returns from its Easter break on April 15 – a move that could push back the flights from May to June. On Monday night, James Cleverly, the Home Secretary, accused Labour of trying to “delay, disrupt or sabotage” the scheme…” – The Daily Telegraph
- The House of Lords must pass the Rwanda scheme or put lives at risk, says Cleverly – The Daily Mail
- Rebel peers ‘trying to ensure Rwanda migrant scheme won’t work’ – The Times
- Asylum seekers say government ‘mind games’ over Rwanda Bill are ‘destroying us’ – The I
- The Rwanda Bill is not just about immigration any more. It’s about the sovereignty of Parliament – or whether we’re now rules by liberal judges – Daniel Hannan, The Daily Mail
Frazer ‘blasts’ the V&A for listing Thatcher as ‘contemporary villain’ alongside Hitler and Bin Laden
“The Culture Secretary yesterday criticised the Victoria and Albert Museum for naming Margaret Thatcher in a list of ‘unpopular public figures’ alongside Hitler and Osama bin Laden. Earlier this week it emerged that Britain’s first female prime minister is described as a ‘contemporary villain’ in a display on British humour through the ages. Under a set of Victorian Punch and Judy puppets, a caption headed ‘That’s the way to do it’ states: ‘Over the years, the evil character in this seaside puppet show has shifted from the Devil to unpopular public figures including Adolf Hitler, Margaret Thatcher and Osama bin Laden, to offer contemporary villains.’… The London museum was widely criticised as ‘disgraceful’ and ‘moronic’ for making the comparison…” – The Daily Mail
‘Inconceivable’ that Mordaunt will oust Sunak, says Rees-Mogg
“Penny Mordaunt will not become the leader of the Conservative Party with a coronation, Sir Jacob Rees-Mogg has said. Rishi Sunak has faced speculation about a possible Tory revolt against his leadership, with plotters reported to be lining up the Leader of the Commons as a potential replacement. But Sir Jacob told Times Radio: “Penny Mordaunt is not going to become the leader of the Conservative Party with a coronation. That idea is inconceivable.” He also said he did not hold the Prime Minister “personally responsible” for the fall of the Conservative party in the polls… Labour has an average poll lead of around 20 points, fuelling Tory unease… Ms Mordaunt told reporters she was “getting on with my job” when asked on Tuesday morning…” – The Daily Telegraph
Labour 1) Reeves: New Labour left Britain ‘exposed’ to financial crash
“Rachel Reeves has suggested that New Labour left Britain “exposed” to the global financial crisis by failing to tackle “key weaknesses” in the economy and not doing enough to protect the rights of workers. In a significant departure from the legacies of Tony Blair and Gordon Brown, the shadow chancellor said that the last Labour government had allowed a “festering gap” to develop between politicians in Westminster and voters…She warned that Britain needed a “fundamental course correction” to raise living standards and stop the rise of populists threatening the “health of our democracy”… Addressing the record of the last Labour government, she said that while there had been a “decade of sustained economic growth”, fundamental structural issues remained.” – The Times
- The Shadow Chancellor distances herself from New Labour economic track record – The Daily Telegraph
- She pledges to borrow only to invest under Labour fiscal rules – The Financial Times
- Six questions Reeves must answer on Labour’s economy plan – The Times
- Reeves says 2024 is the new 1979 – and these charts show she may have a point – The Daily Telegraph
- Reeves is no Thatcher – Editorial, The Daily Telegraph
- Her speech on the economy was plausible…almost – Alex Brummer, The Daily Mail
- Reeves has won over business, now she needs to speak to voters – Hugo Gye, The I
- A speech so dreary, Reeves issues a trigger warning – Tom Peck, The Times
- Is 2024 the new 1979? Or is the Honourable Lady talking parsnips? – Quentin Letts, The Daily Mail
Labour 2) I will bring back the ‘boiler tax’, pledges Miliband
“The “boiler tax” will be revived if Labour wins the general election, Ed Miliband has said. The Government has shelved the plans, which will fine boiler makers if they do not meet binding targets for heat pump installations, until the next parliament. On Tuesday, the shadow energy secretary said he was supportive of the controversial policy, known as the Clean Heat Market Mechanism, and pledged to see it through next year if Sir Keir Starmer is made prime minister. Taking questions at an event hosted by the Green Alliance think tank, Mr Miliband said Labour would go ahead with the proposals – which have been postponed by a year, until April 2025 – if it won the general election… Dozens of Conservative MPs had threatened to rebel against the legislation.” – The Daily Telegraph
- The untenable costs of Net Zero – Editorial, The Daily Telegraph
Labour 3) Streeting: Under Labour, technology could transform the NHS
“Patients will be sent NHS phone alerts urging them to join clinical trials under Labour plans to massively expand the use of health data. Wes Streeting, the shadow health secretary, said that patients must be put “in charge of their own healthcare” through a revamped NHS app, which would store all their records in one place and send people notifications for tests if they were at a high risk of cancer. He said that it was ridiculous that people run all “important aspects of life” including banking via apps, yet still have to ring up or queue in person to see a GP, leading to delays in care. In a speech on Tuesday, he set out how a Labour government would revolutionise the use of technology in the NHS, unveiling a series of new policies…” – The Times
- Labour vows to save the NHS by sharing data from GP records – The Daily Telegraph
Actors face prosecution for ‘abusive’ speech in SNP hate crime crackdown
“New fears have been raised that actors could be targeted by the SNP’s hate crime crackdown after police officers were told that a “public performance of a play” could be used to broadcast “abusive material”. Leaked training materials for front-line officers, ahead of a new hate crime law coming into force…state that an artistic production would fall within the scope of the legislation, despite previous assurances that freedom of speech would be protected. The revelations caused a backlash from high-profile artists, who said they feared delivering lines as a fictional character could risk prosecution if an offended audience member complained…This relates to “offences of stirring up hatred” against protected groups, which carry a maximum penalty of seven years…” – The Daily Telegraph
- A quarter of Scots believe devolution was a mistake – The Daily Mail
News in Brief:
- How big will Reeves’s state be? – Kate Andrews, The Spectator
- The allure of a Labour dystopia – Alwyn Turner, UnHerd
- Why we don’t police anti-Christian hate – Hardeep Singh, The Critic
- Rural NIMBYs are reaping what they sowed – John Oxley, CapX
- Truman and the atomic bomb – Eliot Wilson, The Ideas Lab
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