Your daily briefing on the day’s news from the FT and elsewhere
After an emotional pitch that earned the investment of all five sharks this past week, Forbes sat down with Kaley Young to talk about carrying on her father’s legacy.
No case for keeping to surplus plan, say Institute of Chartered Accountants and Fabian Society
Ditching the government’s budget plans and adopting Labour’s tax and spending proposals would allow Philip Hammond to ditch austerity and pencil in an extra £100bn of spending by the middle of the next decade, according to a leftwing thinktank.
In a report to be published later this week, the Fabian Society said there was no clear case for the chancellor to stick to his plan of running a surplus and that the emphasis should be on investment that would improve the economy’s growth rate.
Theresa May’s foolish promise offers an open goal for Labour if the chancellor fails to abolish tax relief for wealthy voters
How do Theresa May and Philip Hammond converse in private? I doubt he roared at her like Gordon Brown did at Tony Blair – “You’ve stolen my fucking budget” – even though she has. Prime ministers in a corner often do it. Blair did it from a TV sofa in 2000, panicking when a cash-starved NHS tipped into crisis: he pledged health spending would reach the EU average (an unknowable moving target). Familiar? May, facing a far worse NHS crisis, promised £20bn – and then went further. Confronting a fractious Tory conference she declared “an end to austerity” (meaning and price tag: equally unknowable).
Her Brexit conundrum of impossibilities is of her own making, drawing red lines round herself with no escape. Now she’s red-lined her chancellor: he must abolish the deficit, keep debt falling, cut tax thresholds and “end austerity”, just like that. Impossible, says the Institute for Fiscal Studies, the great arbiter. It will cost £19bn extra just to stand still, while still cutting another £7bn from benefits: in next Monday’s budget, the public won’t think that ends austerity. May’s foolish promise offers never-ending open goals for Labour.
Conor McGregor seems to believe he was in control of his fight with Khabib Nurmagomedov at one point.
The K-pop baddies will promote in your area after signing a global partnership.
Monday’s episode of Raw featured a sad dose of real-life problems but ended with a surprise swerve.
Welcome to Due Diligence, the FT’s daily deals briefing
Exercise isn’t just a good idea when it comes to mental health, it may be the single most effective approach we can try for curbing depression and anxiety. Findings from two new studies further support the argument for getting moving.