Guardian Senior Economics Correspondent. [email protected]
London
Joined February 2009
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Richard Partington retweeted
A first for the Guardian ⬇️⬇️⬇️
Paid work experience in London head office for working-class youngsters keen on journalism
✅ Must be 18 or older
✅ Help with accommodation costs
✅ Application deadline 30 March ✍️
workforus.theguardian.com/jo…
Come work with us!
The Guardian is hiring a Business Reporter to produce breaking news and insightful features across all sectors of the economy.
Great gig for a journalist looking to build their experience in business reporting. Full details here: workforus.theguardian.com/jo…
Andy Haldane says the UK can strike a Trump trade deal and rebuild EU relations - among other POV in a wide-ranging interview.
"I hope the government is in a position to really pat its head and rub its tummy at the moment,” he tells me.
theguardian.com/business/202…
The new post-pandemic divide (but also building on pre-existing splits in society): hybrid working.
Hybrid working much more likely if staff have a degree, says ONS: theguardian.com/business/202…
Breaking: Bank of England cuts interest rates to 4.75% even as it warns that Rachel Reeves's budget will add to inflationary pressures in the economy - keeping the inflation rate above target until 2027.
theguardian.com/business/202…
Today’s @guardian front page: Reeves told she will have to raise further £9bn to avoid UK public service cuts - with @jessicaelgot
theguardian.com/politics/202…
Financial markets react to the budget, as IFS says extra £9bn of tax rises may be needed to avoid UK public service cuts
Is this Truss 2.0? No: but the chancellor will be mindful of the gilt sell-off after making a big deal about economic stability theguardian.com/politics/202…
Reeves’s £40bn tax rises will boost growth ‘sustainably’, says IMF theguardian.com/business/202…
So far, so good, for the chancellor in the financial market reaction: 10 year bond yields have fallen since Reeves started speaking.
Michael Saunders, ex BOE ratesetter, says there ought to be little for markets to worry about: "It is unlikely that financial markets and the MPC will be greatly worried by the upward revision to the deficit profile"
Richard Partington retweeted
Not quite right though - @OBR_UK
estimate an offsetting £9.6 billion by 2029, mostly through reductions in wages and profits. So net gain in 2029 is just £16.1 billion.
Some killer lines from the OBR - Reeves's budget policies "crowd out" private investment.
Business investment forecast to fall as a share of GDP "as profit margins are squeezed, and the net impact of Budget policies lowers business investment"
Full story- Budget 2024: Reeves reveals £40bn in tax rises as she promises to rebuild public services theguardian.com/uk-news/2024…
Rachel Reeves announces £6.7bn for rebuilding over 500 schools.
Looks like reinvigorating BSF wasn't a bad shout for a rabbit... xitter.cf/RJPartington/status/18…
