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Blaming Reeves for the -0.3% growth is just absurd.

It's a worldwide effect of Trump's tariffs that are seizing up trade & causing a global contraction.

Blame Trump & not Reeves.

Actually it is both, not least the job destroying budget but also bringing forward pre April economic activity to beat stamp duty hikes but of course exports to beats Trump's tariffs

Furthermore Reeves was not blind to the consequences of her budget and trade woes

We're now also going to get months of speculation as to which taxes are going to be increased in the Budget at the end of October.

Which will act as a further disincentive to investing by business and more financial angst among individuals as to pensions planning.

Reeves would do less damage if she increased income tax by 2% now and got it over with.

Pentagon launches review of Aukus nuclear submarine deal

​Ending pact would be blow to security alliance with Australia and UK


The Pentagon has launched a review of the 2021 Aukus submarine deal with the UK and Australia, throwing the security pact into doubt at a time of heightened tension with China.

The review to determine whether the US should scrap the project is being led by Elbridge Colby, a top defence department official who previously expressed scepticism about Aukus, according to six people familiar with the matter.

Ending the submarine and advanced technology development agreement would destroy a pillar of security co-operation between the allies. The review has triggered anxiety in London and Canberra.

https://www.ft.com/content/4a9355d9-4aff-49ec-bf7e-ea21de97917b

Could become aukward.

Pentagon launches review of Aukus nuclear submarine deal

​Ending pact would be blow to security alliance with Australia and UK


The Pentagon has launched a review of the 2021 Aukus submarine deal with the UK and Australia, throwing the security pact into doubt at a time of heightened tension with China.

The review to determine whether the US should scrap the project is being led by Elbridge Colby, a top defence department official who previously expressed scepticism about Aukus, according to six people familiar with the matter.

Ending the submarine and advanced technology development agreement would destroy a pillar of security co-operation between the allies. The review has triggered anxiety in London and Canberra.

https://www.ft.com/content/4a9355d9-4aff-49ec-bf7e-ea21de97917b

If Trump's minions kill AUKUS that will do catastrophic damage to relations with Aus and the UK. I wish I could believe Trump isn't that stupid, but he very much is.

On the bright side it would be a significant opportunity for the UK to sell SSNs (or at least designs and reactors) to selected allies if the US decides they're uninterested in doing that.

AUKUS was a branchild of the last administration, therefore it must be bad. It's oppositionalism at it's worse.

There's an extraordinary blindness to the fact that the US gets its gear cheaper, because the cost of development is subsidised by the British, the Japanese and a host of other nations, while the US gets first dibs, and (ulimately) control.

But if you cease to be a reliable partner, then who will buy your defence exports? Who wants to be dependent on a country that doesn't seem interested in keeping its commitments?

Which in turn means that the US will need to spend more money to be in the same position.

European defence companies have been handed the most extraordinary lifeline by the US.