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Change? You won't hear it in Rachel Reeves's Mansion House speech

Change? You won't hear it in Rachel Reeves's Mansion House speech

Times09-07-2025
T he Mansion House dinner is one of those annual bashes imbued with all kinds of significance. Yet it's hard to find anybody who can recall anything terribly noteworthy to come out of these banquets in recent years. The biggest excitement was when Gordon Brown upset the traditionalists by shunning black tie in favour of a lounge suit in 1997.
These days it's a smoothly choreographed occasion when the chancellor has the chance to re-heat plans leaked many times before. It's a time for the monetary Kremlinologists to scrutinise the words of the governor of the Bank of England for the most microscopic change in thinking. Big surprises are rare. There is nothing to set the crème caramels a-wobble.
For real shocks you have to go back to 1911, when David Lloyd George shook the world with a Mansion House speech that made plain Britain would take up arms if its interests were threatened. Count Metternich, Germany's ambassador in London, later described the speech as 'a thunderbolt', and we were at war three years later.
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