Bank of England Rubbish Osborne’s Brexit Fibs

osborne balls

George Osborne’s claims that voting to Leave would cause interest rates to rise and a year-long recession have been demolished by the Bank of England. Osborne’s Treasury forecast of the two years following a Leave vote predicted GDP at between -3% and -6%. Today’s Bank of England numbers forecast GDP unchanged at 2% for 2016, dropping to 0.8% in 2017 and rising again to 1.8% in 2018. They have cut interest rates and said there will be no recession.

Osborne also claimed unemployment would rise 2.4 points to 7.3%. The Bank of England forecasts an unemployment rate of 5.6%. This is what the Treasury was threatening:


The Bank of England now say this was all nonsense. Final proof the Remain campaign were fibbing all the way to the ballot box…

Dave’s £225 Swimming Trunks From Designer Notting Hill Shop


The Sun has snapped some unflattering pictures of Dave on holiday in Porto Vecchio – their headline across a double page spread reads “Blue Whale Spotted Off Corsica”. Even more eye-catching is the fact that the former PM is wearing a pair of £225 swimming trunks. Guido has found them on the swish Orlebar Brown website, which offers pricey “designer swimwear” and “expertly tailored shorts” for gentlemen of a fuller figure. Cameron chose the “Bulldog” trunks, which feature a print of guests around a swimming pool at the luxury Hotel du Cap Eden-Roc in Antibes:

“Based on the traditional 17 piece pattern of a man’s suit trouser, the Bulldog is not just a swim short – but a short you can swim in. A perfect bridge short, tailored for style, comfort and performance. Wear on and off the beach.”

They come in up to a 41 inch waist and have engraved side fasteners to adjust. Get the look here or at any of Orlebar Brown’s shops in Mayfair, Notting Hill and Chelsea…

SpAd List Taking Shape


Theresa May’s Downing Street team is slowly taking shape – her former SpAd and Vote Leave alumnus Stephen Parkinson is to be given a role. All of David Cameron’s SpAds were told to clear their desks and just two have been brought back into the fold, Rachel Wolf and super-SpAd Sheridan Westlake. New Secretaries of State are taking their time appointing advisers, meetings have been taking place over the last few days and names should start to trickle out next week:

If you know of any appointments Guido doesn’t have on his list, get in touch

New Transport PPS “Strongly Opposed” to HS2


HS2 may have hit another rail bump. The new Transport PPS, Victoria Prentis, is “strongly opposed” to building the high-speed rail link. Prentis, whose picturesque rural constituency of Banbury would see HS2 run through its eastern edge, says on her website:

“While I recognise the importance of investment in our transport network, I am strongly opposed to the building of HS2. I will continue to oppose it in principle, as I do not think it represents value for money for our taxpayers, and that the environmental costs are too high.”

Prentis, who is neighbouring MP to both David Cameron and Andrea Leadsom, will be serving under John Hayes, who has previously spoken against holding a referendum for locals to decide on HS2. This is going to be a tough square to circle…

Theresa May Smiling as Tory Polls Improving

poll icm july

When run through Election Polling’s UK swingometer, ICM’s figures today show that Labour is facing down the barrel of May’s gun next election. If these numbers become a uniform swing, the Tories are likely to take 41 seats from Labour and two from the LibDems, with a further surprise win in SNP held Berwickshire, Roxburgh and Selkirk. In all, the Tories have gained nine points since ICM’s last pre-referendum poll. Meanwhile, Labour are set to lose 43 seats. They’d even lose a seat to the Lib Dems in Cambridge…

May Lifts Miliband and McDonnell’s Lines


Theresa May has responded to the damning Philip Green report via her spokesman, saying the BHS collapse shows there is a need to “reform capitalism”. The Ed Miliband of 2013 will be happy:

“We are talking about how we are going to reform capitalism, not abolish it as my dad would have wanted.”

It’s not the only rhetorical similarity. The PM’s new slogan is “A country that works for everyone, not just a privileged few”. A handy rip-off of one of Ed’s old speeches:

“we should reward the hard work of everyone… [not] government that works only for the privileged few”

What about policy? Last week May announced she wanted to force firms to put worker representatives on their boards and impose tighter controls on executive pay:

“An institutional overhaul is required, particularly in executive pay where a dysfunctional set of institutions have developed over the last few decades… Pay, particularly for the most senior staff, needs to be set in a fair and transparent fashion, and remuneration should be overseen by those from all levels in a company.”

Except that quote isn’t from Theresa, it was said by John McDonnell, who wants the exact same thing. Forget the Amanda Wakeley dresses, she’s stealing Labour’s clothes…

Hammond Fibs and Saudi Slavery Slipped Out on Dumping Day


Over 300 government documents were quietly slipped out on “dumping day” yesterday, the traditional Whitehall operation where dozens of embarrassing stories are slipped out all at the same time on the last day before recess. Among the worst revelations are the admission that Philip Hammond repeatedly misled parliament about Saudi human rights abuses in Yemen – Tobias Elwood says the former Foreign Secretary made a string of erroneous statements downplaying actions by the British ally during the conflict. Then there is the disturbing revelation that a Saudi diplomat brought a slave to London. Saudi officials also face a further claim of “human trafficking, slavery or forced labour” in Britain. Theresa May told her new Cabinet that politics is not a game, but the charade of dumping day lives on… 

Osborne Given “Sh*t” Room With No View


George Osborne has been given a less desirable office in Portcullis House after moving out of Number 11. The former Chancellor has decamped to the fourth floor of PCH and will take residence in the room previously used by Boris. The move is being seen as another humiliating slap by the new regime – the office is usually given to mid-ranking MPs who have only been around for a few years, not someone with Osborne’s pedigree. One PCH veteran reveals:

“It’s a sh*t office. Really, really woeful for a former Chancellor. Alan Duncan and David Davis for example have PCH offices with stairs inside. Two floors, really impressive. Osborne’s new one is absolutely woeful. Honestly, it’s sh*t.”


Osborne will now be next door to the photocopying room and has a view of the back of an office block rather than of Big Ben and the river. His new corridor includes such high-flyers as David Mowat and Anne Main. George might have been Foreign Secretary, instead he’s got the Foreign Secretary’s old office…

Theresa May: Thug Life

Via @laughwriter


“Remind him of Anybody?”

Theresa May was sounding an awful lot like the last female PM, she opened with a jibe: “In my years here in this house, I’ve long heard the Labour party asking what the Conservative Party does for women. It keeps making us Prime Minister.”

She was at her most Thatcheresque on Corbyn’s troubles:

“He refers to the situation of some workers who might have some job insecurity, and potentially unscrupulous bosses.



Office Politics: Osborne Faces Cornish Rebellion

Backbencher George Osborne has been scouting out a new office in parliament. He had a good look around the triple-room shared by Tory MPs Steve Double, Scott Mann and Derek Thomas – as the home to three MPs it is one of the largest offices on the parliamentary estate.[…]


First Picture of new Cabinet



New Government in Full



July 2016

Prime Minister, First Lord of the Treasury and Minister for the Civil Service

  • Rt Hon Theresa May MP**

HM Treasury

  • Chancellor of the Exchequer – Rt Hon Philip Hammond MP**
  • Chief Secretary to the Treasury – Rt Hon David Gauke MP***
  • Financial Secretary – Jane Ellison MP
  • Economic Secretary – Simon Kirby MP
  • Commercial Secretary – Lord O’Neill of Gatley*


May: I Would Press Nuclear Button

Question: “Are you prepared to authorise a nuclear strike that could kill hundreds of thousands of men, women and children?”

Theresa May: “Yes.”

Boom! […]


Cabinet in Numbers: Just 7 Brexiters

may cabinet data

Guido has been crunching the numbers for May’s new Cabinet. There are only seven Brexiters, one more than in Cameron’s last Cabinet. There are only eight female members, one more than previously, hardly a march of the women. Most of the key Cameron and Osborne allies have gone though there remain nine Cabinet members who could be described as Friends of George.[…]


David Cameron: Musical Tribute

Dave’s best bits, put to music…[…]


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Philip Hammond at Treasury questions:

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