Reeves to unveil plans for pension “megafunds” in Mansion House speech
“Rachel Reeves will announce plans to create pension “megafunds” that the Treasury says will unlock as much as £80 billion worth of investment in businesses and infrastructure. The chancellor will use her first Mansion House speech to the City of London on Thursday to outline an overhaul of pension funds designed to free up money to grow the economy. The government will introduce legislation next year that will merge funds that are managed by 86 local government pension scheme authorities. The combined schemes in England and Wales will manage assets worth about £500 billion by 2030.” – The Times
- Reeves to force UK council pensions to consolidate into 8 ‘megafunds’ – FT
- Rachel Reeves to unveil ‘big bang’ on British economy with biggest pension reform in decades which could unlock up to £80 billion worth of investment – Daily Mail
- Reeves to announce ‘megafunds’ shake-up of local government pensions – Guardian
- Pension pots set for boost under Reeves’ plans for new ‘megafunds’ – The i
- Reeves’s radical pension reforms risk leaving taxpayers ‘on the hook’ – Telegraph
- Rachel Reeves’s latest pension gamble could put retirees’ savings at risk – Express
TODAY
Reeves says her pension megafunds could invest £80bn in Britain. Why would they?
Budget backlash continues as Council Tax bills set to rise by £100
“Council tax bills for the average family are set to rise by more than £100 in April after the government said that hikes would be capped at 5 per cent. Sir Keir Starmer’s press secretary said on Wednesday that the limit to which councils can raise bills “isn’t changing”, paving the way for increases in bills next year. Kemi Badenoch, pressed Starmer in the Commons to confirm whether the cap on council tax would be increased or not. Starmer sidestepped the question but afterwards his press secretary said: “The threshold remains the same.” The 5 per cent rise will be almost three times above the level of inflation, which is presently 1.7 per cent.” – The Times
- Labour loses 40% of council seats defended since General Election as popularity slumps – Daily Express
- Four-day week critical for a happy life, civil servants say – The Times
- Starmer is signing Britain up for accelerated decline – CapX
- Budget guarantees job cuts and price rises, shops tell Labour – The Times
Comment
Angela Rayner is trashing UK’s last remaining competitive advantage – Annabel Denham The Telegraph
Trump makes new appointments as he wins House of Representatives
“Republicans have secured a majority in the US House of Representatives, extending their hold on the lower chamber and delivering a governing trifecta in Washington that could give Donald Trump sweeping power to enact his legislative agenda. Associated Press determined (last night) that Republicans had won at least 218 seats in the 435-member House after a victory in Arizona, a call that came more than a week after polls closed across the US and as Trump made cabinet announcements that sent shockwaves through Washington.” – Guardian
- Donald Trump secures control of Congress as Republicans win House majority – FT
- Trump team angry about snide comments from UK and Europe – The i
- Don of a new day. Biden shakes Trump’s hand and congratulates him at White House meeting – as president-elect quips ‘politics is tough’- The Sun
- Donald Trump taps loyalists Matt Gaetz and Tulsi Gabbard for key roles – FT
- Republicans baffled after Trump picks ‘reckless’ Gaetz for attorney general – Guardian
- Trump is a racist, says Sadiq Khan – Telegraph
- The Lefties leaving X because of Musk and Trump (but only once they’ve posted about it first) – Telegraph
COMMENT
Cabinet picks, Biden meeting and winning the House cap busy day for Trump – Guardian
A crumbling system of trade rules awaits Trump’s wrecking ball – Alan Beattie FT
Trump’s appointments have electrified the West – Con Coughlin Telegraph
Welcome to life on Planet Elon – Douglas Murray Spectator
Elon Musk’s govt efficiency plan is exactly what UK needs – we’re squandering BILLIONS on ridiculous waste – John O’Connell The Sun
TODAY
The first law of British diplomacy should be what best serves UK interests
Elon Musk joins criticism of UK police action over year old tweet
“A police force has been accused of an “appalling” attack on free speech after launching an investigation into a Telegraph journalist. Essex Police is facing a backlash from critics, including Elon Musk and Boris Johnson, over its investigation into Allison Pearson for allegedly stirring up racial hatred in a social media post last year. The force has refused to give the award-winning writer details about which post on X, formerly Twitter, is being investigated, or who made the complaint against her. Two police officers called at Pearson’s home at 9.40am on Remembrance Sunday to tell her she was being investigated and invite her to a voluntary interview. She was told, that the officers were not allowed to disclose the specific focus of an inquiry.” – Telegraph
- How two policemen intimidated a respected journalist over a tweet. What on earth has happened to our country under two-tier Keir? – Stephen Glover Daily Mail
- Musk and Trump: How long will the love-in last? – Telegraph
More Church of England clergy face calls to go after Welby resigns
“Thirty members of the Church of England clergy face being sacked over their failure to stop the most prolific child abuser in the institution’s history. The Church’s national safeguarding team is examining the actions of at least 30 officials named in a report as having prior knowledge of allegations against John Smyth. Following the Archbishop of Canterbury’s resignation over his failure to prevent the “prolific, brutal and horrific” abuse, Smyth’s victims have called for two bishops and an associate minister to follow suit. Dozens of church leaders, including several bishops, could now be removed for their role after an internal review of the case.” – Telegraph
- Four bishops among CoE clergy who face growing pressure to resign amid child abuse scandal – after Archbishop of Canterbury Justin Welby paid the price for ‘shame’ of failing victims of John Smyth – Daily Mail
COMMENT
After Welby: what’s next for the Church of England? – Spectator
Justin Welby is a God botherer not very bothered by God… now we wait for another simpering liberal to take over reins – Rod Liddle The Sun
Housing emergency declared in SNP housing minister’s constituency
“A housing emergency has been declared in the SNP housing minister’s own constituency. East Lothian, which is represented by Paul McLennan, became the latest local authority to formally recognise the severe shortage of accommodation it was experiencing. Edinburgh, Glasgow and Argyll and Bute all declared housing emergencies in their areas last year and more local authorities have followed this year. John Swinney, the first minister, acknowledged there was a national housing emergency in May, while recent figures have shown a rise in homelessness.” – The Times
Labour will miss its new homes pledge… says official leading the plan – The i
News in brief
Can Elon Musk make government small again? – CapX
The flawed hope of rockstar reformers – Unherd
Debunking the decline deniers – The Critic
How to process your Trump trauma (with orange soup) – Spectator
North Korea is ready for war – Unherd
