James Nation

This is less about faith in the Prime Minister or the Chancellor, and more about what comes next. Will be fascinating to see what either Streeting or Rayner camps start to brief about fiscal/economic policy e.g. role of the OBR, defence and the fiscal rules, public services.

The Labour MPs trying to offer a political project to a directionless Downing Street And why it is leading towards taxes on wealth rather than work

One of the things that surprised me in this week’s episode is that certainly for a large minority the Triple Lock may not be quite as sacrosanct as assumed especially pitched against the need for higher defence spending. Take a listen ⬇️

Haigh says that PLP is not “unruly and irresponsible” and says that things like the size of the national debt are “very real constraints” which “significantly limits the room for manoeuvre” and to claim otherwise is “deceitful”.

Olly Robinson may not have spoken directly to Ministers about the vetting but I find it very hard to believe he didn't consult the Chief of Staff about what to do about the vetting recommendation not to appoint Mandelson, when his appointment had already been announced. 🧵

I know it is popular to pile on the Treasury right now, but if you settle with a department (like the MoD) in SR25 and as part of that settlement you set your fiscal rules, tax plans, and other dept spending plans then to be given an additional £28bn (albeit multi-year) liability shortly after does call into question the faith/competence of the spending department's negotiations.

PM is in a stability-security bind to prolong his premiership. Emphasising stability means keeping to the fiscal rules and backing HMT/Reeves. Emphasising security means dealing with the defence £ sore, even if that gives him little credit with Labour MPs.

Let’s do it 🏏