Phillipson is making a lot this morning of Labour opening “the first 300 of the new school-based nurseries we promised” in September. Cue heartwarming video of Bridget at play in one…
Guido did a bit of sandpit maths here. The DfE is opening up £15 million for schools to fund 300 new or expanded nurseries across England. Post-budget research from The Early Years Alliance surveyed 1,000 “settings” on cost pressures, especially resulting from Reeves’ NICs hike. Budget changes were found to result in extra costs “averaging over £18,600 per setting, per year.” 95% said they were increasing fees and 40% of nurseries said they would were “likely to close their entire setting permanently.“ Quick maths: 40% of 1,000…
So 100 more nurseries are closing from Labour’s policies than are opening this year. Will anyone think of the children…
Former Treasury minister and adviser to Burnham in the Makerfield campaign Lord Jim O’Neill, who has turned down a role in his government, said Burnham’s first statement Commons was:
“The last thing investors wanted to hear… gilt yields have risen by a 0.25% in one day, which is a lot. We’ve not had that since Liz Truss days… If your country is under the focus of ‘can they come up with a sensible fiscal strategy’ on a day when the markets think ‘well no, you’re not showing any sign of it’ you’re going to have a tough day…if it stays like this your mortgage rate is going up.”