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The Latest Breaking News from Geoffrey Howe

This was Rachel Reeves’s ‘live now, pay later’ budget. The big question is: what happens when ‘later’ arrives?

The chancellor can only hope for an upturn in the government’s fortunes before tax increases kick in, says Guardian columnist Larry Elliott

The Guardian - UK

Oleg Gordievsky, a KGB spy who defected to the UK in the Cold War, dies at 86

Oleg Gordievsky, a Soviet KGB officer who helped change the course of the Cold War by covertly passing secrets to the UK, has died at home in England.

Euronews

Oleg Gordievsky, Britain's most valuable Cold War spy inside the KGB, dies at 86

Former KGB officer Oleg Gordievsky has died aged 86 in England

The Independent UK

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Big, bold and risky, but Rachel Reeves has still presented a continuity budget

In the long line of UK government budgets, this first one from Labour in 14 years will be remembered as one of the more significant. Perhaps not like those of Geoffrey Howe in 1981, which controversially cut spending in the middle of a recession, or Hugh Dalton in 1946, which…

The Conversation

From tax cuts to breaking the economy: five UK budgets that made a difference

As Rachel Reeves prepares to unveil her measures, we look at how five of her predecessors broke the mould

The Guardian - UK

OPINION - Rachel Reeves embraces optimism – but the sting will be in the Budget

In early August 1979, Peter Cropper, a special advisor to newly-installed chancellor of the exchequer, Geoffrey Howe, sent a memo to colleagues. They should, he warned them, "stop being so downbeat. The world economy may be gloomy but there's absolutely no need for us to be gloomy."

Evening Standard

Sunak tries to stop Tory revolt with new Rwanda bill as Braverman warns of ‘electoral oblivion’

Ex-home secretary claims Tories will ‘die’ if flights don’t start – as her cabinet ally Robert Jenrick put on resignation watch

The Independent UK

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Nigel Lawson: Innovative chancellor who ushered in an economic shift

His various tax reforms made under Thatcher helped move economic policy from Keynesianism to monetarism

The Independent UK

The Tories’ Santa tax has brought Christmas to its knees

What good is goodwill, say the Conservatives, if it can’t be monetised?

The Guardian - UK

Competence, what competence? Tory chancellors like Jeremy Hunt always spell disaster

Look at the record, from Lawson to Osborne –they have consistently overseen rises in poverty and falls in the pound, says Best for Britain’s Naomi Smith

The Guardian - UK

Have Liz Truss’s 44 days in office destroyed 40 years of free market philosophy?

Economists soon saw through Truss and Kwasi Kwarteng’s plans for billions of unfunded tax cuts to benefit the rich

The Guardian - UK

Liz Truss' failed bid to become a 21st-Century Margaret Thatcher

In 1981 Thatcher took the drastic but successful step of increasing taxes by 2% of GDP to tackle interest rates and inflation. But Truss has just done a reverse-Thatcher, says Oliver Hartwich

Newsroom.co.nz

How immigration, betrayal and neglect caused feeling of 'Scouse, not English'

Many Liverpudlians reject their national identity in favour of civic pride

Liverpool Echo

We need to be prepared for what Trussonomics will mean

What we are about to get is the exact opposite of Thatcherism: an inflationary boom where we try to live beyond our means, but delivered with Thatcheresque determination, writes Sean O’Grady

The Independent UK

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The Independent UK

We need to be prepared for what Trussonomics will mean

What we are about to get is the exact opposite of Thatcherism: an inflationary boom where we try to live beyond our means, but delivered with Thatcheresque determination, writes Sean O’Grady

The Guardian - UK

This is not the 1970s. Tory pledges to cut taxes are absurd

Sunak and Truss have no grasp of how low personal taxation is now – or how much a battered Britain needs public spending

The Guardian - UK

Two sides of Trussonomics: tax cuts and higher interest rates

Select band of economists back Liz Truss’s tax plan, but Rishi Sunak’s team say it could cost homeowners £6,600 a year

Evening Standard

Now Tory hopefuls fight to be ‘heir to Margaret Thatcher’

Big guns trade blows on day of first crunch vote in Tory leadership contest

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The Guardian - UK

The Hong Kong Diaries by Chris Patten review – handover notes

The journal of Britain’s last governor makes for candid reading, supplemented by a polemical essay on Hong Kong 25 years on

Reuters

'Enough is enough': Ex-minister Javid delivers parting blow to PM Johnson

Former British minister Sajid Javid delivered a withering attack on Boris Johnson's leadership on Wednesday, telling him and his fellow lawmakers in their ruling Conservative Party that it was time for the prime minister to resign.

The Guardian - UK

I quit! The art of writing the great resignation letter

Oliver Dowden’s wounded farewell note last week was full of the kind of passive aggression found in classics of the genre

The Guardian - UK

Boris Johnson’s spineless cabinet of mediocrities are too feeble to wield the dagger

By failing to finish off a broken leader, they are prolonging their party’s agonies with grim consequences for the country

The Guardian - UK

A brief history of windfall taxes: who used them and why

Windfall taxes have been used by Tory governments at least three times in the last 40 years

The Guardian - UK

Brexit was bad, but Boris Johnson’s glib lawbreaking is much worse

The PM’s damaging slogan about leaving the EU is as nothing when compared with his attitude to following his own rules

The Guardian - UK

Lady Howe of Idlicote obituary

One of the first ‘people’s peers’ admired for her intellectual independence and commitment to public service

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