The Next Crisis Isn’t Inflation. It’s Debt—and the US Is the Problem

The IMF recently downgraded its growth forecast for the UK following the escalation of conflict between the US/Israel and Iran. All major economies saw downgrades, but the UK’s was the largest. Even so, the IMF still expects the UK to be among the better-performing advanced economies. That didn’t make the headlines. Instead, we got the … Read more

Student Loans: The Accounting Trick That Got Out of Hand

At long last, the student loan system is being debated seriously. It should be. Few policies impose marginal tax rates that politicians would tolerate anywhere else: 37% on incomes over £25,000, 51% over £50,270, and 71% over £100,000, before you even factor in interest and postgraduate add-ons. The Conservatives have proposed scrapping interest rates of … Read more

Immigration Is Falling. So Why Isn’t Anyone Happy?

The latest immigration data slipped out last week with surprisingly little noise. It should have been a big political moment. Net migration has fallen to 204,000 in the year to June—less than a third of the previous year’s level. That’s not a marginal shift. That’s a collapse. It’s now so sharp that it risks tipping … Read more

Closed Pubs and the Politics of Nostalgia

Are Pubs Really in Trouble? Reform are proposing a package of support for pubs — or possibly the whole hospitality sector. It’s not entirely clear. Robert Jenrick says one thing, Lee Anderson another. But before we get into subsidies, it’s worth asking a basic question: Are pubs actually in trouble? A Sector Caught in a … Read more

Review of the Year 2025 [1] – UK politics

UK Politics 2025 British politics in 2025 has been described as chaotic, unstable and on the brink. That description is everywhere — in headlines, in think-tank briefings, and in the permanent background noise of grievance that now passes for commentary. It is also mostly wrong. What 2025 actually shows is something more unsettling: a government … Read more

UK Government Debt and the Budget: What Really Just Happened?

Rachel Reeves debt interest

What happened in the budget? Last week Rachel Reeves delivered the Government’s latest budget. It arrived amid a fog of leaks — some accidental, others clearly not — and a week of breathless speculation about market panic. In reality, there was a modest increase in the interest rate the Government pays on its borrowing. But … Read more

Why UK Government Borrowing Costs Are Rising as Interest Rates Fall

Once again, we’re talking about government debt and interest rates. At Labour’s last conference, Andy Burnham was criticised for suggesting the UK government shouldn’t pay so much attention to international financial markets and the price they charge for UK government debt. The criticism was justified: as long as the government has to borrow, it must … Read more

Counting People, Counting Votes: Immigration in Britain Today — Have Your Say

Immigration in Britain has become one of the defining political issues of the last decade. From Brexit to the rise of Reform UK, arguments over net migration shape headlines and elections alike. This survey is your chance to cut through the noise and share your own view on what immigration means for Britain today. Loading…