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…

New quarterly National Accounts figures from the Office for National Statistics won’t make happy reading for Reeves and Starmer. Signs that the economy’s recovery is grinding to a halt keep popping up…

GDP growth in the second quarter of 2024 has now been revised down to 0.5% from 0.6%, against economists’ expectations. Economic output flatlined for the third time in four months as consumer confidence dives ahead of Reeves’ tax-raising October Budget. Meanwhile GDP growth for the whole of 2023 is revised up from 0.1% to 0.3%. This revision is another spanner in the works for Starmer’s stated mission of getting growth to 2.5%. At least it isn’t falling as fast as his popularity…

Labour’s been taking a beating in the court of public opinion, and the latest figures make grim reading for Sir Keir and his cronies. According to YouGov’s latest poll, nearly a quarter of Labour voters (23%) now admit they see their own party unfavourably. A whopping two-thirds (67%) think Labour couldn’t care less about older voters. No surprise there…

It’s a sharp shift since July’s General Election. Back then, 47% had a favourable view of Labour, with 46% against. Fast forward a few months, and the tables have turned: only 34% still think positively about the party, while a damning 57% now have a negative opinion. Meanwhile, Starmer’s approval rating is now down by 45 points since first becoming Prime Minister at -26% – lower than Nigel Farage‘s net approval rating. Labour’s shine is fading fast…

New figures from the Office for National Statistics this morning show inflation sitting just above the Bank of England’s target for a second consecutive month. Up slightly from June’s on-target performance, low enough to prompt the Bank to cut rates for the first time since 2020…

The figures are in line with economists’ expectations while the markets have it at 35% that the BoE will cut rates at midday tomorrow. The ONS says rising air fares countered drops in motor fuel and hospitality prices. Core inflation minus food and energy has pushed up to 3.6% from 3.3%, driven by a jump in services inflation. Jeremy Hunt takes the opportunity to say Labour has to do “the hard work to keep inflation down” by “rejecting potentially damaging new employment rights“. Reeves can always blame the Tories…

Starmer’s popularity is in freefall, as Labour’s polling has plummeted to an average below 30%—something no new governing party has managed in over 40 years, according to PollBasePro. In just 70 days, Starmer’s Labour is already under the 30% mark. Here’s how long it took for other governments to hit the same level in the past after a general election:

• 1993 Major – 397 days.
• 1968 Wilson – 664 days.
• 2019 May – 675 days.
• 1981 Thatcher – 676 days.
• 2022 Johnson – 762 days.
• 2008 Brown – 1,082 days.
• 2004 Blair – 1,104 days.

That’s approximately 11 times faster than the average of 765 days. Releasing criminals, no plan to cut down immigration and the on-going cronygate saga probably hasn’t helped…

ONS figures released today show Britain’s economy flatlined for the second consecutive month, its first under the new Labour government. Farewell to the economy “going gangbusters” under the Tories…

GDP growth had been expected to hit 0.2% in July, having fallen to 0% in June  from 0.4% in May. Grim numbers compared to the first three months of the year with Sunak, where GDP expanded 0.7%. Labour’s ‘party for growth’ not going too well…