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☆ UK PM Sunak promises tax cuts after meeting his inflation pledge
▼ + stars: | 2023-11-20 | by ( Alistair Smout | ) www.reuters.com time to read: +3 min

Under pressure from within his traditionally low-tax Conservative Party, Sunak said his government needed to prioritise lowering the tax burden but stressed he would not repeat the unfunded tax cut plan that his predecessor Liz Truss announced last year, triggering turmoil in bond markets. Sunak said the government would cut taxes over time and would not do anything that added to inflation. "You can trust me when I say we can responsibly start to cut taxes," he said. Conservative lawmakers have long called on Sunak to cut taxes to help reduce the gap in the opinion polls with the opposition Labour Party before an election expected next year. Blowing tens of billions of pounds on unfunded spending is just as dangerous as blowing tens of billions of pounds on unfunded tax cuts," he said.

Persons: Rishi Sunak, Jeremy Hunt, Sunak, Liz Truss, Hunt, Sarah Young, Alistair Smout, William Schomberg, Kylie MacLellan, Kate Holton, Christina Fincher Organizations: British, Conservative Party, Data, Conservative, Labour Party, Thomson Locations: Rwanda

LONDON (AP) — U.K. Treasury chief Jeremy Hunt says the government can afford to lower some taxes now that inflation is falling, but that any cuts will come along with a squeeze on welfare benefits. British media have reported that there will be relief for businesses and wealthy property-owners in Hunt’s autumn budget statement on Wednesday. But he cautioned to broadcasters on Saturday that “there’s no easy way to reduce the tax burden. The most likely tax cuts are a reduction in corporation tax and slashing inheritance tax, a move that would help the wealthy. Only about 4% of estates have to pay inheritance tax.

Persons: Jeremy Hunt, Hunt, “, ” Hunt, Rishi Sunak’s, Liz Truss, Ken Clarke, “ I’m, ” Organizations: Treasury, Saturday's Daily Telegraph, Conservative, Rishi Sunak’s Conservative, Bank of England’s, Labour Party, Conservative Treasury Locations: Ukraine

☆ Top U.K. Court to Rule on Deporting Asylum Seekers to Rwanda
▼ + stars: | 2023-11-15 | by ( Megan Specia | More About Megan Specia | ) www.nytimes.com time to read: +1 min

Britain’s Supreme Court will rule on Wednesday whether the government’s contentious policy to deport asylum seekers to Rwanda is lawful, in a pivotal moment for the ruling Conservative Party during an already turbulent week. The Rwanda policy was first announced in April 2022 by Prime Minister Boris Johnson, as he attempted to make good on a Brexit campaign promise to “take back control” of the country’s borders. The hard-line policy has since been pursued by Mr. Johnson’s successors, Liz Truss and Rishi Sunak, with each repeating his original untested argument that the threat of being deported to Rwanda would deter the tens of thousands of people who try to cross the English Channel in small boats each year. But it has been widely criticized by rights groups and opposition politicians from the start, with many pointing to Rwanda’s troubled record on human rights. And to date no one has been sent to the small East African nation, because of a series of legal challenges.

Persons: Boris Johnson, “, Johnson’s, Liz Truss, Rishi Sunak Organizations: Conservative Party Locations: Britain’s, Rwanda

☆ UK Interior Minister Suella Braverman fired after she accused London police of political bias
▼ + stars: | 2023-11-13 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

UK Home Secretary Suella Braverman attends the weekly government cabinet meeting at 10 Downing Street on May 23, 2023 in London, England. LONDON — U.K. Prime Minister Rishi Sunak on Monday fired controversial Interior Minister Suella Braverman, as he begins a reshuffle of his top cabinet. In a shock move, former Prime Minister David Cameron was announced as the new foreign minister. "While I have been out of front-line politics for the last seven years, I hope that my experience – as Conservative Leader for eleven years and Prime Minister for six – will assist me in helping the Prime Minister to meet these vital challenges." Braverman drew widespread criticism last week after printing an op-ed in The Times newspaper that ignored guidance from Downing Street and accused London police of political bias in policing protests.

Persons: Suella Braverman, Rishi Sunak, James Cleverley, David Cameron, Cameron, Braverman, Liz Truss, Israel's, Sunak, Conservative frontbencher Paul Bristow Organizations: Downing, LONDON, Monday, Braverman, Home, Conservative, The Times, London, Palestine, CNBC, Palestinian, Hamas, Department for Science, Innovation, Technology, Conservative Party, Labour Party Locations: London, England, Ukraine, Northern Ireland, Gaza

☆ David Cameron: Why Rishi Sunak has brought the former UK PM back to frontline politics
▼ + stars: | 2023-11-13 | by ( Peter Wilkinson | Luke Mcgee | ) edition.cnn.com time to read: +8 min

London CNN —Ever since he became British prime minister a little over a year ago, Rishi Sunak has tried to bring calm to the chaotic government he inherited. That might all have changed on Monday when Sunak surprised the Westminster establishment by appointing former Prime Minister David Cameron as his new foreign secretary. He was very much from the center of the Conservative Party and led the campaign to remain in the European Union. David Cameron leaves 10 Downing Street after being appointed foreign secretary by Prime Minister Rishi Sunak on November 13, 2023. British Prime Minister David Cameron resigns on the steps of 10 Downing Street in 2016.

Persons: London CNN —, Rishi Sunak, Liz Truss, Boris Johnson’s, Sunak, David Cameron, Suella Braverman, Cameron, Cameron’s, Carl Court, Braverman, Johnson, Toby Melville Toby Melville, Braverman’s, Matt Cardy, shouldn’t, it’s, don’t Organizations: London CNN, Conservative Party, European Union, Conservatives, Conservative, Britian's, REUTERS, Downing, European Liberal Democrats, Liberal Democrats, CNN Locations: British, Westminster, Brexit, London, Britain, Rwanda

☆ A Look at Suella Braverman’s Turbulent Time as Home Secretary.
▼ + stars: | 2023-11-13 | by ( Megan Specia | More About Megan Specia | ) www.nytimes.com time to read: +5 min

Here’s a look at some of Ms. Braverman’s most prominent disputes. Despite her dismissal, Ms. Braverman was again appointed home secretary six days later, on Mr. Sunak’s first day in office. While the plan was first announced by Ms. Braverman’s predecessor, Priti Patel, Ms. Braverman has been an ardent supporter and put the policy front and center. Ms. Braverman had for weeks characterized these protests as “hate marches,” despite the fact that the demonstrations have been mostly peaceful. But then Ms. Braverman, who as home secretary oversees policing in Britain, went a step further later in the week.

Persons: Braverman, Rishi Sunak, Liz Truss, Braverman’s, Truss, Sunak’s, Priti Patel, Sunak, ” Organizations: Conservative, Appeal, London’s Metropolitan Police Service, Islamists, Hamas Locations: Britain, Rwanda, Israel, Gaza, London

☆ Factbox-Seven Turbulent Years: British Ministerial Churn Since the Brexit Vote
▼ + stars: | 2023-11-13 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +4 min

PRIME MINISTERCameron served as prime minister until July 13, 2016, three weeks after the Brexit vote on June 23. She holds the record for Britain's shortest-serving prime minister after she quit after 49 days, having triggered a financial market meltdown. Philip Hammond was foreign secretary from July 2014 until three weeks after the Brexit vote in 2016. INTERIOR MINISTERBritain's interior ministry has changed leadership eight times since the Brexit vote, including Cleverly who stepped into the role on Monday. There have been 13 housing ministers since the Brexit vote, including six since Feb. 8, 2022.

Persons: Sarah Young, Rishi Sunak, David Cameron, Cameron, Theresa May, Boris Johnson, Liz Truss, Sunak, James, Dominic Raab, Jeremy Hunt, Johnson, Philip Hammond, Suella Braverman, Grant Shapps, Truss, Hunt, Kwarteng, Victoria Atkins, Monday, Steve Barclay, Gillian Keegan, Kate Holton, Alex Richardson Organizations: Sarah Young LONDON, British, European Union, Conservative Party, FINANCE, National Health Service Locations: Westminster, Britain, European, Truss, Crete, Kabul, Cameron

☆ Suella Braverman fired as David Cameron returns to UK government
▼ + stars: | 2023-11-13 | by ( Rob Picheta | ) edition.cnn.com time to read: +10 min

The hardline Home Secretary Suella Braverman was fired early on Monday morning, after making inflammatory comments about the policing of pro-Palestinian protests in central London over the weekend. Cameron served as prime minister from 2010 to 2016, resigning after Britain voted to leave the European Union in a referendum that he had called. Unlike Braverman, neither Cleverly nor Cameron are likely to go off script and lash out at the police or protesters. Monday marks the second time in just over a year that Braverman has been sacked as home secretary. Under Sunak, Braverman spearheaded a heavily publicised push to clamp down on small boat crossings made by asylum-seekers.

Persons: London CNN — Britain’s, Rishi Sunak, David Cameron, Suella Braverman, Sunak, Cameron, Downing, James, Braverman, London’s, Braverman’s, ” Neil Basu, we’ve, King Charles, Alec Douglas, –, Edward Heath’s, “, ”, —, ” Cameron, Tories ’, Carl Court, Boris Johnson, Liz Truss, Jeremy Hunt, they’d, Liz Truss’s shambolic, lambasting “, Keir Starmer, ” Starmer Organizations: London CNN, Britain, European Union, Downing Street, Times, London, Sunak, BBC, Downing, Conservative Party, Liberal Democrats, Tories, EU, Braverman, Human, Rwanda –, Conservatives, Labour Party Locations: London, Braverman, Downing, Westminster, Cameron, Rwanda, Britain, United Kingdom

☆ British environment minister Coffey resigns in reshuffle
▼ + stars: | 2023-11-13 | by ( ) www.reuters.com time to read: +1 min

Britain's Environment Secretary Therese Coffey walks outside 10 Downing Street next to Larry the cat, in London, Britain November 13, 2023. REUTERS/Suzanne Plunkett Acquire Licensing RightsLONDON, Nov 13 (Reuters) - British environment secretary Therese Coffey resigned on Monday as Prime Minister Rishi Sunak reshuffled his top team of ministers. "I consider it is now the right time to step back from government," Coffey said in a letter to Sunak which was published by his office. Coffey has held several ministerial jobs including health minister and work and pensions minister, and also served as deputy prime minister under Sunak's predecessor Liz Truss. In a letter responding to Coffey, Sunak thanked her for "dedicated service".

Persons: Therese Coffey, Larry, Suzanne Plunkett, Rishi Sunak, Coffey, Liz Truss, Sunak, Kylie MacLellan, Sarah Young, William James Our Organizations: REUTERS, Thomson Locations: London, Britain, British

Out of the 29 cabinet roles, at least 16 backed remaining in the EU, compared with 10 who supported leaving. Sunak's party still languishes around 20 points behind the opposition Labour Party before an election that must happen by January 2025. But as he was talking, he asked a former cabinet minister to the right of the party for her thoughts. With few Conservatives believing they can win the next election, others might follow her in preparing for a new job. For the Conservatives to stand a chance, they need to change that perception, and it's hard to imagine how bringing David Cameron back does that," he said.

Persons: David Cameron's, Rishi Sunak, Suella Braverman, Sunak, Liz Truss's, Braverman, Cameron, Boris Johnson, Johnson, Dehenna Davison, Keiran, David Cameron, Kylie MacLellan, Elizabeth Piper, Kate Holton, Alex Richardson Organizations: British, European Union, EU, Conservative, Labour Party, Liberal Democrats, Labour, Conservatives, Thomson Locations: England

☆ Turmoil in UK government after key minister slams police ahead of pro-Palestinian march on Armistice Day
▼ + stars: | 2023-11-10 | by ( Luke Mcgee | ) edition.cnn.com time to read: +6 min

On Saturday, the UK will mark Armistice Day – the date commemorating the de-facto end of World War I. Also on Saturday, pro-Palestinian protesters will march through central London demanding a ceasefire in the Israel-Hamas conflict. Every living UK Prime Minister lays a wreath at the monument, along with other senior politicians, visiting dignitaries and members of the royal family. Banning such a protest in the name of those who died for precisely these sorts of freedoms is not the best look on Armistice Day. The Conservative Party’s poll ratings are poor and Sunak is already barely holding together a fragile coalition of parliamentarians.

Persons: Rishi Sunak, Sunak, Suella Braverman, Leon Neal, Banning, Sunak’s, Braverman, ” Braverman, Keir Starmer, Downing, Mark Kerrison, ” Sunak, Brexit, Boris Johnson, Liz Truss, – Organizations: London CNN, Getty, London’s Metropolitan Police Service, Conservative, National Conservatism Conference, Emmanuel Centre, Conservative Party Locations: London, Israel, Downing, Times, England, Gaza, Northern Irish, Charing, Westminster

☆ High bond yields challenge “Pax Americana”
▼ + stars: | 2023-11-06 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

There are also many reasons why “Pax Americana” – the period of U.S. dominance since World War Two - is under stress. The combination of high bond yields with a large fiscal deficit and rising sovereign debt is making it harder for politicians to govern the country. If anything, they may have a tougher job to make their fiscal maths add up than the United States because their growth prospects are not as rosy. What’s more, the near-record yield gap with the United States is bringing its own headaches by putting downward pressure on the yuan. These are consolations for the United States as it grapples with the geopolitical consequences of high interest rates.

Persons: Joe Biden, Kevin Lamarque, Joe Biden’s, doesn’t, Liz Truss, haven’t, Paul Tucker, “, Fitch, Peter Thal Larsen, Thomas Shum Organizations: Air Force, Joint Base Andrews, REUTERS, Reuters, Federal Reserve, International Monetary Fund, Bank of England, AAA, AA, United, Bank for International, Initiative, Thomson Locations: Lewiston , Maine, Joint Base Andrews , Maryland, U.S, Israel, Ukraine, China, United States, Europe, Asia, Russia, Britain, Washington, Republic

☆ Elon Musk Discusses Perils and Benefits of A.I. With Rishi Sunak
▼ + stars: | 2023-11-02 | by ( Adam Satariano | More About Adam Satariano | ) www.nytimes.com time to read: +2 min

Mr. Sunak said he believed A.I. While he encounters many voters worried about automation and job losses, Mr. Sunak said he believed A.I. By contrast, Mr. Musk, known for predawn social media posts and deliberately provocative statements, appears to thrive more in a state of improvisation and chaos. Mr. Musk has faced criticism for, among other things, allowing racist, antisemitic and hateful speech to thrive on X since he bought the platform last year. Mr. Musk, whose companies include Tesla and SpaceX, in addition to X, was perhaps the biggest name in attendance.

Persons: Sunak, Goldman Sachs, Boris Johnson, Liz Truss, Musk, Sunak’s Organizations: Conservative Party, Stanford University, Bletchley, A.I, SpaceX Locations: Silicon Valley, Britain

☆ King Charles to attend COP28 climate talks in Dubai and deliver address
▼ + stars: | 2023-11-01 | by ( Lauren Said-Moorhouse | ) edition.cnn.com time to read: +3 min

London CNN —King Charles III will attend the UN’s COP28 climate summit in Dubai this year and deliver an address at the opening ceremony, Buckingham Palace said Wednesday. CNN understood at the time that, following consultations with the government, it was jointly agreed that the climate summit wasn’t the right occasion for the King’s first trip overseas as sovereign. Few world leaders have confirmed their attendance at the talks. The 74-year-old King will give his address on December 1, and also meet with regional leaders, the palace said. King Charles III has been a passionate advocate of environmental and climate causes for at least five decades.

Persons: London CNN — King Charles III, Buckingham, Liz Truss, Joe Biden, Sheikh Mohamed bin Zayed Al Nahyan, Charles, Charles ’, Prince, Wales, King Charles III, Prince of Wales, King, Donald Trump Organizations: CNN’s Royal, London CNN, CNN, United Arab Emirates, COP28 UAE, Government, Business, UN, Charles ’ Sustainable Markets Initiative, Buckingham, Accord Locations: London, Dubai, British, Egypt, Israel, Gaza, UAE, Glasgow, Scotland, Germany, France, Paris

☆ Spiking Treasury yields are triggering pain in stocks. 3 experts discuss the renewed threat of bond vigilantes and what else could move markets.
▼ + stars: | 2023-10-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Investors are now tasked with trying to understand where bond yields go next, and what the drivers of those yields would be. Forget about the technical charts, he says — they are not driving the bond market right now. While Fed policy has consequences for the bond market, investors drive the yield, Johnson said. That means trying to predict where bond yields will settle will be very hard. But fear in the stock market could translate to greed in the bond market as investors flee to safety.

Persons: Paul Ciana, Gordon Johnson, —, Johnson, Ed Yardeni, Kevin Zhao, Liz Truss, Ray Dalio, Fitch, Eric Leve, Michael Gayed, there's, Russell, Leve, hasn't Organizations: Federal Reserve, Investors, Bank of America, GLJ Research, UBS Asset Management, CNBC, Greenwich Economic, Tidal Financial, P Bank ETF, BlackRock Locations: Bridgewater, Greenwich

☆ The case for a career in bond investing
▼ + stars: | 2023-10-27 | by ( Felix Martin | ) www.reuters.com time to read: +7 min

I sensed familiarity with the recent fate of fixed income benchmarks such as Austria’s hundred-year government bond. For this reason, when bond yields are low, the sensitivity of capital prices to inflation and interest rate shocks is high, and vice versa. The appreciating greenback has been a drag on much of the global fixed income universe for the past decade. The real reason to go into fixed income investing, I explained, is that you get to tell governments what to do. Now that the end of monetary anaesthesia has awoken fixed income from its 15-year coma, I told the MBA students, you’ve got your chance.

Persons: Bonds, That’s, Torsten Slok, GMO’s, Liz Truss, ”, Bill Clinton’s, James Carville, you’ve, Peter Thal Larsen, Streisand Neto, Thomas Shum Organizations: Reuters, Treasury, Reuters Graphics Reuters, Apollo Global Management, U.S ., JPMorgan, Economist, UK, Thomson Locations: U.S, Venezuela

☆ Rishi Sunak, Britain’s Prime Minister, Is Probably Doomed - The New York Times
▼ + stars: | 2023-10-25 | by ( Katy Balls | ) www.nytimes.com time to read: +2 min

When Rishi Sunak became prime minister of Britain a year ago, there was little sense of celebration. Mr. Sunak, who had been rejected by Conservative Party members earlier in the year, was inserted by lawmakers in the desperate hope he could calm the crisis. But that’s where the good news stops for the prime minister. While Mr. Sunak has moved his party out of crisis mode, he is yet to win over voters. Mr. Sunak may be doing his best, in trying circumstances.

Persons: Rishi Sunak, Liz Truss, Sunak, Keir Starmer, — Organizations: Conservative Party, European Union, Conservatives, Labour Party Locations: Britain, It’s

☆ 'The bond vigilante is coming back,' UBS strategist says
▼ + stars: | 2023-10-23 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Andrew Kelly | ReutersThe bond vigilantes are coming back as investors continue to sell amid the prospect of higher for longer interest rates and a growing fiscal deficit, according to Kevin Zhao, head of global sovereign and currency at UBS Asset Management. "The bond vigilante is coming back, so this is very important for asset prices in equity, house prices, fiscal policy, monetary policy, so no longer is this a free ride on bond markets anymore — so the government has to be very careful in terms of the future. "A few months ago, most people expected the U.S. government deficit would keep going down with growth slowing — it was 3.9% last year and it's actually going up with growth slowing — that is quite alarming for bond investors." The term "bond vigilantes" refers to bond market investors who protest against monetary or fiscal policy they fear is inflationary by selling bonds, thereby increasing yields. Fed fund futures pricing reflects a 98% probability that the central bank keeps its main interest rate unchanged at the current target range of 5.25-5.5% at its next monetary policy meeting.

Persons: Andrew Kelly, Kevin Zhao, Jerome Powell, Zhao, Liz Truss, it's Organizations: UBS Asset Management, Treasury, Federal, U.S, Treasury Department, U.S . Federal Reserve Locations: British, Treasurys

☆ UK 30-year borrowing costs rise to highest since 1998
▼ + stars: | 2023-10-20 | by ( David Milliken | ) www.reuters.com time to read: +2 min

A bus passes the Bank of England in the City of London, Britain, February 14, 2017. Ten-year gilt yields were 2 basis point higher on the day at 4.69%, not far off a 15-year high of 4.755% set on Aug. 17. The BoE has raised its interest rate 14 times since December 2021 to 5.25%, but investors think it is now on pause, with only a 13% chance of a rate rise on Nov. 2 after its next meeting. The chances of a further quarter-point rate to 5.5% by March next year stand at around 55%. Reporting by David Milliken; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Hannah McKay, Liz Truss, Jerome Powell, Richard Hunter, Jeremy Hunt, BoE, David Milliken, William James Our Organizations: Bank of England, City of, REUTERS, Treasury, Federal, Interactive Investor, Bank of, Thomson Locations: City, City of London, Britain

☆ Moody's lifts UK's outlook to 'stable' on restoration of policy predictability
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Hollie Adams/File Photo Acquire Licensing RightsOct 20 (Reuters) - Ratings agency Moody's revised Britain's outlook to "stable" from "negative" on Friday, saying policy predictability has been restored after heightened volatility last year around the so-called "mini-budget" under then-Prime Minister Liz Truss. Moody's last changed its outlook on Britain one year ago, when Truss had spooked markets with unfunded tax pledges, culminating in her resignation. "Policy predictability has been restored after heightened volatility last year around the mini-budget," the ratings agency said, affirming the country's rating at "Aa3". The government borrowed 81.7 billion pounds ($99.35 billion) in the first half of the 2023/24 financial year, 15.3 billion pounds more than between April and September 2022, but about 20 billion pounds less than the government forecast in March. On Friday S&P affirmed its AA rating and stable outlook for Britain.

Persons: Hollie Adams, Moody's, Liz Truss, Truss, Rishi Sunak, Jeremy Hunt, Hunt, Poor's, Aatrayee Chatterjee, David Milliken, Alistair Smout, Shailesh Kuber, Daniel Wallis Organizations: REUTERS, Monetary Fund, Britain's, Conservative Party, Britain, Thomson Locations: City, London, Britain, Bengaluru

☆ The UK Labour Party has a Biden-esque economic plan — but it's very different to Bidenomics
▼ + stars: | 2023-10-16 | by ( Elliot Smith | ) www.cnbc.com time to read: +6 min

LIVERPOOL, U.K. - Oct. 11, 2023: Britain's main opposition Labour Party leader Keir Starmer applauds a speaker the final day of the annual Labour Party conference in Liverpool, northwest England, on October 11, 2023. Paul Ellis | Afp | Getty ImagesLONDON — The U.K.'s main opposition Labour Party last week set out the economic platform it hopes will propel it to power at next year's general election, and the transatlantic parallels were clear. Reeves promised last week to "rebuild Britain" as the party seeks to de-risk business investment in emerging technologies with a new national wealth fund, maintaining an active state while harnessing private investment to drive economic growth. Labour's desired parallels to "Bidenomics" were discussed at a host of fringe events throughout the conference in Liverpool, particularly with regards to the "crowding in" of private investment — a Keynesian economic theory that suggests increased government spending can spur increased private investment. Just because the policies may be oriented towards boosting infrastructure and investment, unless they have that debt finance component, it's not Bidenomics."

Persons: Keir Starmer applauds, Paul Ellis, Keir Starmer, Starmer, they're, Rachel Reeves, Joe Biden's, Reeves, Britain —, Biden, Kallum Pickering, Liz Truss, Truss, Rishi Sunak, Pickering, it's Organizations: LIVERPOOL, Labour Party, Afp, Getty, Labour, U.S, Biden administration's, U.S . Treasury, CNBC, Bank of England, Conservative Party, U.S ., University of Pennsylvania Locations: Liverpool, England, America, Britain, Germany, France

☆ London's financial heart is sizing up a win for center-left Labour party at next year's UK election
▼ + stars: | 2023-10-10 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Bloomberg | Bloomberg | Getty ImagesLIVERPOOL, England — The U.K.'s main opposition Labour party is seeking to woo London's powerful financial center as it sets its sights on winning power at next year's General Election. At the party's conference this week, lawmakers were unanimous in emphasizing Labour's renewed focus under leader Keir Starmer on spurring economic growth as its number one priority. Speaking at a fringe event on Sunday, Shadow Financial Secretary to the Treasury James Murray reiterated the party's mission of achieving the highest growth in the G7 and engaging the private sector. It really is crucial to underpin the encouragement of businesses to invest, to underpin everyone working together for economic growth," Murray added. Shadow Chancellor Rachel Reeves announced a host of new economic pledges aimed at stimulating growth, vowing to "rebuild Britain" if Labour wins the 2024 General Election.

Persons: Keir Starmer, James Murray, Murray, Rishi, Liz Truss's, Kwasi Kwarteng, Rachel Reeves, Reeves, Jeremy Corbyn, Starmer, Emma Reynolds Organizations: Bloomberg, Getty, Labour, Shadow, Conservative Party, Treasury Locations: Canary, London, LIVERPOOL, England, Britain, Liverpool

☆ Labour Party Conference: Meet Keir Starmer, Britain's likely next Prime Minister
▼ + stars: | 2023-10-10 | by ( Luke Mcgee | ) edition.cnn.com time to read: +10 min

At least that’s how it felt in Liverpool, where the opposition Labour Party held its annual conference this week. In front of a packed hall, Labour leader Keir Starmer gave an upbeat speech painting the ruling Conservatives as the party of national decline and Labour as the party of stability. A protestor throws glitter over Labour party leader, Keir Starmer during the leader's speech at the Labour Party conference on October 10, 2023 in Liverpool, England. Shadow chancellor Rachel Reeves makes her keynote speech during the Labour Party Conference in Liverpool on October 9, 2023. The story Labour is telling right now isn’t just the story of Keir Starmer, leader in waiting, but Keir Starmer and his political allies, who are the government in waiting.

Persons: Keir Starmer, “, Ian Forsyth, wilder, Jeremy Corbyn, –, Corbyn’s, Starmer, Corbyn, Boris Johnson’s “, Liz, ”, Queen Elizabeth II, David Lammy, Lammy, he’d, Johnson, Rachel Reeves, Peter Byrne, Jeremy Hunt’s, won’t, Trump, Labour – Organizations: Liverpool CNN, Labour Party, Labour, Conservative, Conservative Party’s, CNN, Conservative Party, Northern, Conservatives ’, Government, University of Leeds, Oxford, Cambridge, Public Prosecutions, Labour Party Conference, Corbyn, Biden, Conservatives Locations: Liverpool, Manchester, England, Corbyn, Israel, Britain, America, Germany, Labour’s

☆ UK opposition Labour announces sweeping economic reforms in promise to 'rebuild Britain'
▼ + stars: | 2023-10-09 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

LIVERPOOL, England — Britain's main opposition Labour party on Monday vowed to "rebuild Britain" if it wins the 2024 General Election, as Shadow Finance Minister Rachel Reeves announced a host of new economic pledges aimed at stimulating growth. The lifeblood of a growing economy is business investment," Reeves said, further cementing the party's recalibration in recent years as a centrist, pro-business alternative to the ruling Conservatives. Truss and then-Chancellor Kwasi Kwarteng opted not to seek an independent appraisal from the OBR, breaking with traditional norms of economic policy. Labour holds around a 20-point lead over the Conservatives across most major polling, with the ruling party damaged by a string of scandals and the fallout from Sunak's predecessor Liz Truss's "mini-budget." In order to catalyze and de-risk business investment, Labour would create a new national wealth fund, Reeves also announced.

Persons: Rachel Reeves, Jeremy Hunt, Reeves, Liz Truss, Kwasi Kwarteng, Rishi Sunak, Liz Truss's Organizations: Labour, Shadow, Conservative Party Locations: LIVERPOOL, England, Britain, Liverpool, France, Germany, America

☆ HS2: Britain's high-speed rail fiasco reflects grim economic reality
▼ + stars: | 2023-10-05 | by ( Mark Thompson | ) edition.cnn.com time to read: +6 min

“Our plan will drive far more growth and opportunity here in the north than a faster train to London ever would,” he said Wednesday. Some of the alternatives Sunak highlighted were predicated on the delivery of HS2, said Henrietta Bailey, CEO of Greater Birmingham Chambers of Commerce. “This is the biggest and most damaging U-turn in the history of UK infrastructure,” the High Speed Rail Group, which represents companies such as Siemens, Hitachi and Bombardier, said in a statement. “The decision … sends a hugely disappointing message about our commitment to completing major infrastructure projects in the UK,” said Stephen Phipson, chief executive of Make UK, which represents manufacturing firms. The country must hope that his latest policy reversal doesn’t deter investors and further undermine a struggling UK economy, perpetuating a doom-loop of weak growth and underinvestment.

Persons: Rishi Sunak, Sunak, ”, Henrietta Bailey, Stephen Phipson, Mark Allen, ” Sunak, —, Liz Truss, he’s, Sunak blinked, James Mason, ” — Hanna Ziady Organizations: London CNN —, Leeds, Birmingham Chambers of Commerce, HS2 —, Conservative, Speed Rail Group, Siemens, Hitachi, Bombardier, Make, Investors, Treasury, Business Locations: England, United Kingdom, London, Germany, France, Italy, China, Japan, Edinburgh, Birmingham, Manchester, Britain, West, North Yorkshire

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