Sky News Business Podcast: Welfare reforms, bond markets and skills
As Prime Minister Sir Keir Starmer backs down over planned cuts to disability entitlements, Paul Kelso discusses the latest developments with Simon French, chief economist and head of research at Panmure Liberum.
Paul also speaks to George Lagarias, chief economist at Forvis Mazars, about how the bond markets have reacted to the U-turn.
And there is an interview with entrepreneur Simon Squibb on the drop in the number of graduate-level jobs.
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The Sun
25 minutes ago
- The Sun
Keir Starmer ‘put party before country' by caving in to benefit cut rebels, blasts Labour peer
SIR KEIR Starmer has put 'party before country' by caving to rebels and softening his benefit cuts, a Labour peer has warned. The PM was slammed for opting to appease the revolt rather than sticking with flagship reforms. Former benefits minister Lord Hutton said: 'The country cannot afford to sit back and see these welfare levels rising in the way they are and although it's uncomfortable for a lot of Labour MPs we can't go on ducking.' He added: 'I think the people that we mustn't lose sight of in all of this debate are the taxpayers who fund the welfare system.' 'It's rising at a level which I think is really unsustainable over the medium term, and the job of government is to address that, not to try and pretend it's not there." He says that the PM will have 'no choice' but to come back to welfare spending and try and reduce it. The climbdown on benefits and the winter fuel u-turn will force Chancellor Rachel Reeves to find £4.5billion after 126 Labour MPs threatened to derail plans. Downing Street insisted there would be no 'permanent' increase in borrowing but declined to rue out tax rises at the Autumn Budget to pay for it. Sir Keir said: 'For me, getting that package adjusted in that way is the right thing to do, it means it's the right balance, it's common sense that we can now get on with it.' But hardline Labour rebel Nadia Whittome said the concessions were 'nowhere near good enough'.
The Sun
25 minutes ago
- The Sun
Keir Starmer's latest U-turn on benefits is the worst of all worlds and leaves PM at a major crossroads
Country first? KEIR Starmer's capitulation to his own party is the worst of all worlds. No meaningful reform of the out-of-control benefits system will happen and most of Labour's planned £5billion savings won't be made. 1 Whacking tax rises to fill the black hole now look inevitable. It has also sent a signal that the PM — despite his huge majority — can't deliver any serious public spending cuts. After this debacle, how will he reform the NHS or slash the civil service Blob? His rebels will now demand an end to the two-child benefit cap, too. As for taking on ludicrous wage demands from doctors and other public sector workers — forget it. The PM has now made major U-turns on winter fuel payments, grooming gangs and benefits. Presumably under pressure from his leftie comrades, Sir Keir yesterday also said he now deeply regrets his previous claim on mass immigration that it risked Britain becoming 'an island of strangers'. Except that it was probably one of the few occasions where most ordinary folk AGREED with him. After just 12 months, the PM is at a major crossroads. Elected on his promise to put country before party, he has this week done the complete opposite. Appeasing his virtue-signalling MPs may get him through difficult days in Westminster. But for the rest of us it spells very bad news indeed. Petty crime JUST last month chief constables begged for more cash. Without it, they warned, the country would be overwhelmed by criminals. Really? As we reveal today, they have plenty of time and money to investigate absurd 'hate crimes' — from singing Flower of Scotland at an English railway station, to questioning if a person's designer clothes are fake. Can we suggest senior cops and the Government stop hitting up the taxpayer, and instead save cash by scrapping inquiries into so-called non-crime hate incidents. It might even free them up to catch a shoplifter or two. Booze & cheers That would have dealt a savage blow to struggling horse-racing venues and lower league football clubs — and punished punters. Ditch the Nanny-state plan to outlaw booze adverts, too.
BBC News
33 minutes ago
- BBC News
Man Utd's improved Mbeumo bid rejected by Brentford
Manchester United have had an improved bid of £55m plus £7.5m in add-ons for Bryan Mbeumo rejected by Red Devils had a bid of £45m plus up to £10m in add-ons for the Cameroon forward turned down earlier this to follow.
