Conservative Party does not know what being in opposition means

Email recieved from Conservative Party on 26th June 2025

Published on 26th June 2025

The Conservative Party does not know what being in opposition means.

This is the conclusion to be drawn from the above email, sent by the Conservatives today to their members under the name of Mel Stride, the Shadow Chancellor of the Exchequer.

The subject is […]

‘Borrowing for investment’ – all the signs point to a debt-funded disaster

Picture from Global Britain blog

Published on 28th May 2025

This is the full version of the fourth paper in my Global Britain series on the UK’s public finances, entitled ‘Borrowing for investment’ – what signs we have of how this will manifest itself under the current Labour regime’.

You can download it through this link.

All indicators point […]

Labour’s ‘Borrowing for investment’ – think New Labour’s ‘Private Finance Initiative’ and InvestEU

Picture from Global Britain blog

Published on 28th May 2025

This is the full version of the third paper in my Global Britain series on the UK’s public finances, entitled ‘‘Borrowing for investment’ – what is meant by this statement in theoretical terms’.

Labour aims to engage in an orgy of borrowing but off-the-books, just like New Labour’s […]

The UK government’s day-to-costs are out of control, and no Spending Review is going to get them back on target

Picture from Global Britain blog

Published on 28th May 2025

This is the full version of the second paper in my Global Britain series on the UK’s public finances, entitled ‘The UK government’s budget for ‘day-to-day’ costs is out-of-control and deteriorating, and has no chance of being met by revenues by 2029’.

This balance is one of Labour […]

Starmer and Reeves want to spend and borrow more, and to keep the increase in both under wraps

Picture from Global Britain blog

Published on 28th May 2025

This is the full version of the first paper in my Global Britain series on the UK’s public finances, entitled ‘The structure of the UK’s public finances and the amount of the UK’s public debt’.

You can download it through this link.

A Spending Review is in progress – […]

Labour’s ‘Borrowing for investment’ is the Net Zero transition in disguise – and could cost the UK nearly £7 trillion

Picture from Global Britain blog

Published on 27th May 2025

LABOUR’S ‘borrowing for investment’ will part-finance the Net Zero transition in a repeat of New Labour’s Private Finance Initiative and the EU’s InvestEU, and cost the UK nearly £7 trillion.

The Climate Change Committee’s Carbon Budgets are a dangerous fiction in that they exclude these financing costs.

That is […]

‘Borrowing for investment’ – how Labour will go big by aping the EU’s InvestEU and creating more PFI

Picture from Global Britain’s blog

Published on 27th May 2025

LABOUR’S new ‘iron’ fiscal rules will open the floodgates to ‘borrowing for investment’, under the Government’s new measure of the national debt, called ‘Public sector net liabilities’.

That is the message of my paper ‘‘Borrowing for investment’ – what is meant by this statement in theoretical terms’ published […]

The structure of the UK’s public finances is obscure – and that helps Starmer and Reeves hide their increases in public spending and the national debt

Picture from the Global Britain blog

Published on 27th May 2025

The UK’s debt is already nearly the same size as the whole UK economy and is continuing to increase. The Labour Government’s plan to introduce a new measure of it, so as to understate it, is already so far from reality it cannot fool the public, […]

The UK government’s ‘day-to-day’ costs are out-of-control

Picture from the Global Britain blog

Why there is no chance of spending being covered by revenue by 2029 in compliance with Labour’s ‘iron’ fiscal rule

Published on 27th May 2025

Labour has lost control of the UK’s public finances. Day-to-day costs have been increasing. There was a ‘black hole’ but not the one claimed by Chancellor Rachel […]

The UK public finances

ONS – you can read the public detail on our disastrous situation, but for what is not in the public domain…

Published on 21st May 2025

Here are four papers on the UK’s public finances being issued through Global Britain.

The first is on the structure and amount of the UK’s public debt.

The second is on the amount […]