Reeves and Starmer are now at the mercy of the markets November 13, 2025 A government elected on competence and stability may now gamble both to stave off internal revolt. For investors, the message is that British politics has not regained the calm that markets briefly hoped for, says Helen Thomas The markets once again have a starring role on the stage of political intrigue. Allies of the Prime [...]
Reeves may reassure the markets, but her political future is at risk November 6, 2025 Reeves’ speech was intended to steady nerves but instead will ignite the internal struggle that defines Labour’s next phase in power, says Helen Thomas With just over three weeks to go until the Budget, Chancellor Rachel Reeves has decided she can’t wait any longer. The pitch has to be rolled, the ground prepared, and the [...]
Keir Starmer may not survive this Budget October 30, 2025 The Prime Minister cannot satisfy all three key audiences: the markets, the party, and the public, says Helen Thomas Every Prime Minister faces a moment when economic reality collides with political promise. For Keir Starmer, Budget day could be that moment of reckoning. He promised calm after chaos: that the grown-ups were back in charge, [...]
Regulation isn’t what’s holding business back – it’s tax October 23, 2025 The Chancellor has promised to “boldly regulate for growth” but that’s easy to say and costs nothing. The UK’s problem isn’t paperwork, it’s the relentless pressure of ever higher prices and government constraints, says Helen Thomas The Chancellor has given a Regional Investment Summit speech where she tapped into her inner Spock, promising to “go [...]
Which taxes will be raised in the Budget? October 16, 2025 The UK Chancellor has now received the first forecast from the OBR. There will be two more“pre-measures” rounds before the crunch moment on 10 November when the OBR deliverto the Treasury the first “post-measure” forecast. That’s the point where Reeves will havehad to make some decisions on what might actually end up in the Budget [...]
In Tokyo, Paris and London, political risk is on the rise October 9, 2025 Instability in Japan, France and the UK will have global consequences for the bond markets, says Helen Thomas For investors, the message is simple: political risk is rising. From Tokyo to Paris to London, governments face competing imperatives – fiscal credibility, economic stimulus and electoral survival. Sanae Takaichi, the new leader of Japan’s ruling LDP, [...]
Labour is in denial about the economy October 2, 2025 The recent Labour conference as an exercise in denial, revealing a party plagued by internal divisions and lacking a coherent economic plan, says Helen Thomas As the Labour conference drew to a close, one word dominated the mood: denial. Denial of the scale of Britain’s economic challenges. Denial of the fault lines within the party [...]
Will the Labour party survive its conference? September 25, 2025 The left, just like the right, is a broad but unhappy church – will its internal rifts reach breaking point at Labour’s upcoming conference in Liverpool? Asks Helen Thomas This Sunday, Liverpool plays host to the Labour Party conference, where the party’s competing wings will jostle under the harsh glare of the government spotlight. Just [...]
Starmer and Macron face a shared Waterloo September 18, 2025 Facing crippling national debt and a politically divided public, both Keir Starmer and Emmanuel Macron have proved unable to implement necessary economic reforms, and both are heading for a downfall driven by market forces, says Helen Thomas A country gripped by the highest debt levels since the Second World War; an unpopular leader facing a [...]
This is why Starmer’s recent reshuffle is doomed to fail September 11, 2025 Keir Starmer’s personnel switch-up is an attempt to get a firmer grip on his government’s economic policymaking. Helen Thomas lays out why it won’t work. Keir Starmer’s latest cabinet reshuffle was billed as a decisive break from his choppy first year in power. Yet this is less a bold national reset than a desperate rebrand. [...]
