Will Standring

UK government borrowing costs are now at their highest since 2008, even past the Liz Truss spike in 2022 War in Iran has sent energy prices soaring. With inflation looming, markets think the BoE might raise interest rates three times Read for free here: bloomberg.com/news/articles/…

Budget Exclusive with @EllenAMilligan: UK will embrace Tourist Tax on hotels & airbnbs in announcement later on Tuesday. First big exclusive at Bloomberg for me! Give it a read: bloomberg.com/news/articles/…

** NEW: Bloomberg Budget analysis ** — Labour MPs say Rachel Reeves has done enough to help her and Keir Starmer survive. Markets reacted positively. But on both fronts there’s little sign this was a turning point longer-term. — The OBR conclusion that the budget does nothing to help growth is damning. “The government’s growth mission is currently stalled,” says the CBI’s @RainNewtonSmith. — “When you carry on pretending that nothing has to be dealt with, it is uninspiring and pretty disappointing,” says top economist Jim O’Neill. The IoD’s Anna Leach says businesses will bear the burden. Even the Resolution Foundation expressed concerns about the credibility of Reeves’ fiscal plans. — Labour MPs on the left are the ones who seem happiest thanks to the two-child cap going and tax rises hitting the rich. It’s those on the right of the party who are less enthusiastic about the total lack of a growth plan. — @justinmadders: “I don’t think anyone is seriously speaking about an imminent leadership challenge. If the budget had landed badly it could have made a difficult situation worse, but it’s actually landed pretty well.” — Tribune rebels back it. Plus @alexsobel tells us it was a more Labour budget. Critic @NeilForPoole says it starts to address the cost-of-living. — Govt officials are cautiously optimistic about the initial reaction both in the markets and politically. One accepted Reeves' first two budgets had been difficult but argued she’s shown she’s stabilised the public finances, won over markets and is now starting to be able to implement Labour policies. They said she still has three more budgets until the next election where she can deliver better news, and MPs should keep their eyes on the prize. — But some who are typically pro-Starmer expressed disappointment at a budget they saw as treading water. One said it was smartly designed to get them through the winter but did little to arrest Britain's wider economic malaise. Another characterised it as tinkering and devoid of either a political or economic strategy. Others warned Reeves against managing decline, urging a bolder budget next year as time is slipping away. — A Starmer loyalist gave a two-word review that summed up the muted support offered by many in the party: "Basically fine." With top team @PhilAldrick @EllenAMilligan @LucyGJWhite @Joe_Mayes @WillStandring bloomberg.com/news/articles/…

Steve Reed has now announced this - he says it means England's cities will have the same powers as New York + Paris A "modest" levy will apply to hotels, holiday lets, b+b's + guesthouses. Emergency accom, homeless shelters + Traveller sites used as primary residence are exempt.

Communities Secretary Steve Reed confirms this story - says it’ll be a “modest charge”

@BNHWalker epigram.org.uk/2023/10/18/exc…

New post incoming: Who is best placed to beat the member for North East Somerset?

@Samfr @TonyEvans1704 @tomhillonline Also Reds Mogg potentially up against West of a England Mayor Dan Norris who held the seat before him epigram.org.uk/2023/10/18/exc…

@TonyEvans1704 @tomhillonline They're not under the new boundaries which bring over a lot of Lab voters from Kingswood. Libs have many better targets in the area. If they both compete hard then Rees-Mogg will probably win.

Rees-Mogg is the one for me. Lee Anderson too though he's never been in cabinet. Others that could lose include Shapps, Mordaunt, potentially Dowden if things go very badly for them.

🔴NORTH EAST SOMERSET & HANHAM (Lab rank 353): Dan Norris has just told me he's "thinking about it hard", but says he hasn't made his mind up yet.

@tomorrowsmps @EpigramPaper

🔴NORTH EAST SOMERSET & HANHAM (Lab rank 353): Epigram reports West of England mayor Dan Norris considering applying to be Lab candidate against Jacob Rees-Mogg in this seat, where Mogg beat him in 2010. Norris was MP for old Wansdyke seat from 1997-2010. epigram.org.uk/2023/10/18/exc…

@LabourList @katie_neame @j0ne_s_

Exclusive: Mayor of West England, Dan Norris, strongly considering standing against Jacob Rees Mogg at upcoming election epigram.org.uk/2023/10/18/exc… @tomorrowsmps

This is literally a photo of a multi national, multi ethnic, multi religious sports team, the only international team of its kind in cricket and possibly world sport.

@Beyond_Topline @OpiniumResearch Surely a large factor is that he can make it an issue?

@NickBuckleyMBE You have personal responsibility in your bio??!! Make it make sense

A solution to the migration crisis would be for European counties to recolonise parts of Asia and Africa. We could run these counties better, give their people a better life, and fund it through trade. What else are we going to do?

@micah_erfan U back Labour over Tories yh? - (Labour supporting Brit)

@HiamLej @ScouseCommie What are you on about - how on earth does this read like Greenwood PR

@ScouseCommie I’d imagine they’re getting paid a lot of money from United to push it, either way they’re complicit in pushing a very dangerous narrative

Another reason to dislike The Athletic is them becoming the heads of the "Rehabilitate Greenwood" campaign