Kemi Badenoch is doing a speech in central London on the Tories’ plan to raise defence spending to 3% of GDP by 2029/30, worth £10 billion a year extra against Labour’s Defence Investment Plan. The savings:
Some of the savings were announced earlier. The Tories are trying to steal Reform’s thunder on the first day of their conference…
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.”