Latest figures from the the Institute of Directors have optimism in the economic outlook falling to its lowest level since 2022. The index took a dive to -38 in September, down from -12 in August…
Confidence in firms’ prospects has also dipped while investment intentions have droppped to their lowest point since September 2020. Directors cite “concerns over likely tax increases, the cost of workers’ rights, international competitiveness,” and “broader cost pressures” in their latest dour assessment of times to come. Reeves’ budget summarised…
Meanwhile the Tories’ £3,500 business day at Conference has received poor reviews with little interest from firms and tickets getting a two-thirds discount at the last minute to egg on interest. At least they didn’t ask for their money back this time…
Kemi Badenoch used her Conservative Home drinks reception to launch her latest self-published venture. After a quick “welcome to my party!” speech to the grassroots, she whipped out a newly launched book titled “Conservatism in Crisis: Rise of the Bureaucratic Class”. It covers fixing bureaucratic bloat, missed Brexit chances, and tackling the left-wing stranglehold on Britain. Reminiscent of Truss…
She assured Guido that plenty of effort had gone into it—this was no mere collection of “soundbites.“- all 32 pages of it. The book/pamphlet champions overhauling the “bureaucratic class assault on capitalism”, “democracy“, and “growth“. It also ventures into less-trodden territory for the current crop of Tory hopefuls, questioning the “socialisation of mental health” arguing that mental health has shifted from being an individual responsibility to something society, schools, and employers must accommodate. She also took a swing at the “university explosion” and the perpetual left-wing answer of “more government” for everything. Her manifesto to the party members. To be fair, it’s the first of the four leadership hopefuls…
Thanks to the Government’s new feather-ruffling bird flu policy any owners of fewer than 50 chickens must register them by tomorrow’s legal deadline. Or else they face a nanny state fine up to £2,500…
Now Guido is forced to register his egg-celent investigative reporter Guido Squawks to the government database. A sad day for those used to winging it without state oversight…
Thanks to the government crackdown Guido will have to shell out the cash if he doesn’t register. Talk about fowl play…
The Spectator held a tax panel at Tory Conference this afternoon at which the Laffer Curve naturally came up. Former Chief Secretary to the Treasury Laura Trott made a hash of her government’s record by claiming that the “higher rate” of CGT was cut at the last budget which raised more revenue. In fact it was only the CGT rate on property which Hunt cut (from 28 to 24) and the revenue effect won’t be known until 2026…
Institute for Fiscal Studies chief Paul Johnson chimed in on whether there were any taxes for which a cut would boost Treasury coffers:
“Tobacco duty: but that’s not necessarily something I would suggest.”
That’s a sound admission from the tax-favourable IFS. As Guido has pointed out the Treasury is losing billions every year thanks to an ever-swelling black market. £4 billion in tax revenue from tobacco – the entire policing budget – was foregone last year alone. As usual evidence isn’t factored in to politicians’ decision-making…
This year’s Tory conference is all about the next big coronation. The leadership hopefuls are all out in force trying to charm the grassroots, despite the mood being a little flatter than previous years as the race continues to drag on. An Ipsos poll that just dropped isn’t going to boost morale amongst the camps, as it shows Nigel Farage is more popular than any of the candidates. The real leader of the Opposition…
According to the poll, Reform’s Nigel is leading the pack as 24% of Britons think he would be a good Prime Minister, leaving the likes of Cleverly on 15%, Tugendhat with a measly 12%, Badenoch on 11%, and Jenrick scraping by at a dull 11%. This comes as Farage has been taking potshots at Kemi and Jenrick over their previous soft-touch approach to immigration, and Tory contenders continue to fight against each other to prove themselves. A few more weeks of this to come…
Cabinet Secretary Simon Case has announced his resignation to Civil Servants. The race is on…
Case says he’ll leave at the end of the year. Up comes the job ad…
Read Case’s full note below:
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”
