TUC warns of dangers of 'out of control political spending' - but stops short of backing caps on donations
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TUC → warn → donations
The TUC has issued the statement from its general council on the funding of political parties.
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TUC → issue → parties
It is not calling for caps on donations, but it does warn of the danger of “out of control” political spending and urges the government “to protect our democracy from being captured by the super-rich”.
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it → call → rich
The scale of donations made to Reform in recent days is unprecedented in British politics and should deeply concern anyone who cares about the health and integrity of our democracy.
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who → make → democracy
We cannot afford to see the Americanisation of our politics, with out of control political spending, funded by stratospheric sums of crypto and corporate cash.
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We → afford → crypto
These donations show clearly whose side Reform are on, with crypto billionaires, foreign and powerful corporate interests lining up to pour in eye-watering sums of money to advance their agendas.
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billionaires → show → agendas
Union donations are made up of the collective subscriptions of care workers, teaching assistants, shop workers and millions of trade union members, democratically controlled and heavily regulated.
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donations → make → members
Working people deserve – and need – a meaningful stake in how Britain is run.
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Britain → deserve → stake
Trade unions exist to rebalance power in the workplace and society, and ensure that the voices of millions of workers can be heard collectively in our democracy and are not drowned out by those with the deepest pockets.
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voices → exist → pockets
We will continue to work with policymakers to clean up our politics and strengthen public trust in our democratic system.
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We → continue → system
We expect our government to protect our democracy from being captured by the super-rich.
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government → expect → rich
Unions are committed to ensuring that working people have a strong, collective voice in the decisions that affect their jobs, their communities and their futures.
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that → commit → jobs
Most trade unions are not affiliated to the Labour party, but the biggest ones are and they have always been wary of supporting caps on political donations because they worry this could affect their relationship with Labour.
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this → affiliate → Labour
There was speculation their position might shift in response to Reform UK getting £72m from two billionaires.
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UK → be → billionaires
While this statement implies some further action is needed, it does not go much beyond what unions have said before.
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unions → imply → what
Badenoch confirms Tories looking at 'fiscally responsible' ways of cutting inheritance tax
Kemi Badenoch has confirmed that the Conservatives are looking at “fiscally responsible” ways of cutting inheritance tax.
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Conservatives → confirm → tax
In a post on social media yesterday, prompted by reports saying she will make an announcement about this at Tory conference, Badenoch said:
Reform says abolishing inheritance tax is “morally wrong”.
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abolishing → prompt → tax
I think it is morally wrong to punish people for doing the right thing - spending a lifetime working, saving, building up a business or a home to pass on to the next generation.
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it → think → generation
That’s why I’ve asked my team to explore fiscally responsible ways to do address this burden.
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I → ’ → burden
The people caught by inheritance tax are mostly home-owning middle-class families due to house price inflation, diligent savers, and small-business owners.
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people → catch → inflation
The super-wealthy can afford trusts and sophisticated tax planning or move abroad.
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wealthy → afford → trusts
In a report about this for the Financial Times, Lucy Fisher says:
The number of people paying IHT [inheritance tax] in the UK, which is applied to estates above a threshold of £325,000, has been increasing, mainly because of rising property prices, inflation and the threshold having been frozen since 2009.
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which → say → 2009
The total more than doubled to 30,400 between 2009-10 and 2023-24, according to HM Revenue & Customs data.
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total → double → data
Labour has tightened the inheritance tax regime since coming to power in 2024, including by introducing plans to bring pensions within its scope from next April, a move that will see the number caught by the levy rise further.
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number → tighten → levy
In the first year after the changes are introduced, about 10,500 extra estates will have an IHT liability and roughly 38,500 estates will pay more IHT than before, according to government estimates.
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estates → introduce → estimates
Reducing or abolishing the levy would likely cost billions of pounds and come under fierce attack from the left as being a regressive and unfair move.
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Reducing → reduce → left
Robert Jenrick, the Reform UK Treasury spokesperson, has ruled out cutting inheritance tax.
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Jenrick → rule → tax
He argues that the Tory obsession with inheritance tax shows they are a party for the rich, and he says Reform UK’s decision to prioritise lifting the income tax threshold instead shows it is more interested in the needs of ordinary workers.
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it → argue → workers
According to a story by Steven Swinford in the Times, Reform UK is already starting to spend some of the £72m it has been given – even though legislation going through parliament means some or all of it might have to be given back.
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some → accord → it
Swinford says:
Reform UK is already using the funding to expand its staff.
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UK → say → staff
It is doubling its policy team from ten to 20 staff as well as recruiting 400 field agents.
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It → double → agents
The party is also expected to announce a new online Reform UK TV channel, which will broadcast content over YouTube.
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which → expect → YouTube
It is investing significantly in the party’s media facilities at its headquarters on Millbank.
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It → invest → Millbank
Some might argue that Reform UK does not need its own TV channel – because GB News does that job for the party already.
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News → argue → party
UK state pension set to top £13,000 a year as wage growth slows to 3.9%
Wage growth in the UK has slowed as workers come under pressure from a renewed cost of living squeeze fuelled by the Iran war, highlighting the challenge for the Bank of England as it prepares to set interest rates, Richard Partington reports.
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Partington → set → rates
He says:
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He → say → ?
Data from the Office for National Statistics (ONS) shows average growth in total earnings, including bonuses, eased to 3.9% in the three months to July, down from 4.1% in the three months to June, matching the forecasts of City economists.
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growth → show → economists
The figure is expected to dictate the rise in the state pension this year under the triple lock, where the benefit rises by either 2.5%, inflation, or average wage growth, whichever is highest, each year.
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whichever → expect → %
If the 3.9% number is used, that would push the annual state pension up by £488 from April to more than £13,000 a year.
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that → use → 13,000
Today is the last day the Commons is sitting before the party conference recess.
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Commons → sit → recess
…and 107 more, not listed.
The Aporia
