Sir Keir wants to make it really, really clear there is “no case” for rejoining the EU, despite footage yesterday showing him claim “we don’t want to diverge” from Brussels’ rulebook. Watch as he channels his inner Ed Miliband, repeating himself almost word-for-word with his rehearsed new line…
Depressing news for fans of economic growth as Hunt claimed it’s “virtually impossible” to make any tax cuts until the economy improves on LBC’s Tonight with Andrew Marr. This is despite lower inflation and a stop to interest rate hikes. Who’s surprised?
Guido thinks its worth reminding the Chancellor and Number 10 what they said about tax when they were making “all the right noises.”
- Hunt graciously admitted that the “tax burden is too high. We would like to bring it down through growth.” In the meantime, Britain has the third highest integrated tax rate on corporate income in Europe. Singapore-on-Thames?
- The Chancellor said he was desperate to “unlock investment in the North Sea“ as his continuing windfall tax has led nine out of ten capital projects to be put on hold.
- Sunak told business leaders: “I’ve got your back“. At the same time as taxing them so highly they left to the United States…
- Rishi said he was “ready to listen” to calls to scrap the tourist tax, which he instituted and forfeits £3 billion of consumer spending annually. No movement there…
There used to be a time when Chancellors had the stomach to prioritise investment and growth despite loud calls from quangos, charities, and commentators to hike taxes ever-higher. Distant memories…
Shadow Chancellor Rachel Reeves has announced Labour would give the Office for Budget Responsibility even greater oversight of the Treasury if elected, with Ministers legally bound to consult the OBR overlords before every single major fiscal event. Supposedly this is to prevent the OBR being “gagged” by Ministers who dare to do things they disagree with…
Reeves also revealed major tax and spend policies would only be announced in November, with only mild tinkering in spring. She’s convinced this is a good idea, even though it obviously means the government won’t be as nimble in responding to unpredictable events:
“This is good international practice, that you set a date for the budget and you stick with it. “And to have a budget in the autumn rather than just a few days or weeks before the new financial year gives businesses, gives families, a chance to plan for any changes in taxation, for example, so that’s good international practice.”
Guido has already covered the ideological bent of the OBR; it is stuffed to the gills with Resolution Foundation types who hate Brexit and love taxes. One member of their advisory panel even claimed Soviet planning was beneficial in some countries. They are hardly going to beat the drum for pro-growth policies, even if Sir Keir pretends he’s more free market than the IEA nowadays…
Liz Truss has immediately fired back:
“It beggars belief that Labour think Britain’s problems will be solved by bigger government and even more powers for quangos. Hard-working people and businesses – freed from overbearing regulation, tax, and debt – are going to get Britain growing again, not more bureaucrats in London.”
Right on that one…
With Number 10 trying keeping a tight grip, and with all-time-low Tory morale, Guido doesn’t expect that Conference will be as raucous as in previous years. In the spirit of doing our best to change that, here’s what you need to know about the free drinks, the policy ideas, the big names, and the short ones up in Manchester. Guido’s got you covered…
WHERE TO GET EARLY DRINKS
The Speccie is serving G&Ts at the majority of events so head to their welcome reception at 4:30 p.m. on Sunday at Exchange 11.
On Monday head straight back for 11 a.m. gin and tonics with John Whittingdale, YouTube director Alison Lomax, and Channel 4’s Jonathan Allan. Or head to Exchange 6-7 to see James Cleverly chat China at the same time. Also with gin…
The next free drinks on Monday will be at 3:30 p.m. in the Midland Hotel’s Petersfield Suite for drinks at the Conservative Action for Electoral Reform’s House of Lords discussion.
On Tuesday it’s the Speccie again, 11 a.m. at Exchange 11, this time with Tom Tugendhat, Victoria Atkins, UK Finance’s Bob Wigley, TSB’s Paul Davis, and Kate Andrews talking fraud. Guido will be holding out until 3 p.m.’s Conservative Friends of Pakistan reception. It’s a free-for-all after that…
More below…
More bad news for personnel at the Baby Shard as Richard Tice announces he is jumping ship to GB news and will start as a presenter and contributor next week. Things remain tricky at TalkTV towers…
Guido can see why the Reform leader might want to depart the ailing broadcaster, especially as last night’s First Edition with Ian Collins brought on the wrong guest. To discuss whether class would play a role in the upcoming election, TalkTV producers had intended to bring on JL Partners’ neutral pollster Scarlett Maguire – but instead booked former Labour Party adviser Scarlett McGuire. It made for entertaining viewing. Still, at least they didn’t put the taxi driver on...
