As I expected, Morrgan McSweeney has gone.
I remain quite sure that Starmer will go.
And in the short term, there will be a cost to this. There are three obvious ones.
First, the pound is likely to dip in value. That has a short-term inflationary impact. It will be short-term, but it will happen.
Second, this means interest rates will still be too high when we need them to fall. The Bank of England will say there is an inflation risk now, and people will pay the price in higher mortgage and other borrowing costs, as will businesses, and the government itself.
Third, if Reeves reacts as she usually does, with the backing of the Treasury, which is accustomed to deliver austerity whenever it can, then public services might also be punished. Remember, another fiscal event is coming up in early March. It could be costly for those in need while uncertainty remains.
This is why I have suggested an alternative plan Labour needs to adopt here.
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Blair, Mandelson, McSweeney and the rest have gutted the labour party. Labour is no different than the Tories/Garage spouting the only mantra is yet more austerity because the market rules and we can’t afford it.
As for Bailey regrettably no one will have the gumption to sack him and drop the mad “inflation target”.
The UK elites don’t give a shit about “ordinary” people.
Interesting where this could go.
On the subject of Reeves, there was an article in the Telegraph today claiming the treasury have urged Reeves not to deliver her spring statement, because the treasury dont wont to upset the markets.
I do not know the full implications of this – which is why I read this blog. This, however, is not right surely.
As for McSweeney – are the dominoes finally falling?
Reeves has no choice but deliver. I don’t believe the story.
And yes the dominoes are falling but I still think Starmer goes in May.
Both Adam Bienkov and Peter Obourne in the Byline Times have charted Morgan McSweeney’s role in government from the start of Starmer’s election victory in July 2024. It makes for very unsettling and disturbing reading.
What a horrible figure.
Did you hear the comment from an unnamed Labour MP (Luke Akehurst perhaps?) regretting McSweeney’s departure, stating that it represents:
“full steam ahead to uber-woke, net-zeroist, rejoinerism”
A most extraordinary thing said from a “Labour” MP. This is where McSweeney and “Blue Labour” has ended up. Terrible, terrible.
Utterly atrocious.
Sounds like Luke Akehurst.
I’ve suspect Starmer knows he’s out of his depth and might resign sooner than May. Losing Gorton and Denton could obviously trigger it but I have a gut feeling the blokes just had enough which ever way it goes
Your instinct seems right – never let a crisis go to waste. A National Government? – maybe not but if Labour had someone with political instinct to grab the opportunity there could be a possibility to introduce an emergency ‘clean up’ bill.
Bring in independent advisers from Institute for Government and / or academics – to do an immediate constitutional reform- outlaw private money donations, 2nd jobs, revolving doors. A standing parliamentary Constitution and Corruption Committee with real teeth . And change the voting system to pr
There has been no inclination among Tories or Labour to clean up the system – but it could just be possible if enough MP’s start to see the abyss ahead of them – and acknowledge than the public’s view ‘ they are all in it for themselves’ has some foundation in fact.
But all this seems most unlikely
I am afraid you are probably right.
But I can dream.