Dear John,

Early this week, weary MPs and political staffers cleared out of Westminster to settle in for a well-deserved (and two week delayed) summer break after a gruelling six week election campaign, followed by the dizzying first few weeks of political overhaul. 

But not to worry, for while they might be off-duty, we’re still here working around the clock to bring you all the highs and lows of the week past. So…shall we? 

Fiscal fisticuffs

Newsflash, things aren’t just bad, they’re really bad, and we have 14 years of Conservative rule to blame. This was Rachel Reeve’s message on Monday, as she delivered the damning verdict that the last Government had left a gaping £22 billion black hole in the public finances. 

Despite being subject to cynical cries before the widely-trailed event, the new Government’s audit does seem to show that they really didn’t know the true scale of what was to come. Even Paul Johnson, director of the ever-sceptical IFS, argued that Reeves had proven “genuinely unfunded” commitments were made by the last Government, and that this was  “a fiscal mess beyond” even what they had predicted.

To address the mess, Reeves announced a series of “tough choices” including the scrapping of winter fuel payments for pensioners, as well as cuts to rail and road infrastructure projects. Notably, she also announced £9.4bn in pay rises for public sector workers and a 22% increased pay offer for junior doctors. 

But, as always, the elephant in the room remains our shambolic Brexit deal, and as our CEO Naomi Smith points out, it “will continue to throttle our economy and decimate public finances until it is radically overhauled.” 

Can we build it?

On Tuesday it was Angela Rayner’s turn, and her message was simple: to get Britain building again, which she has set out to do with a new nationwide housing target of 370,000 homes per year. Much less controversial than Reeve’s remarks, Rayner’s reforms seem to have been welcomed as both necessary and long overdue.

Runners and riders

While the new Government focuses on fixing their mess, the Conservative Party have been bogged down in the election of their fourth leader in the space of two years. And with just 121 Tory members of parliament returned to Westminter, it's slim pickings. 

The bookies’ current favourite is culture wars warrior Kemi [Badenoch], but this might all change due to recent allegations that she engaged in both bullying and traumatising behaviour whilst Minister for Business and trade. Not ideal. 

The other five contenders include Priti Patel, James Cleverly, Tom Tugendhat, Mel Stride and Robert ‘no-longer generic’ Jenrick. And now that nominations have closed, the next step is for Tory MPs to whittle down the starting six to a final four via a series of ballots taking place in September. Anticipating it will get ugly, 1922 chairman turned referee, Bob Blackman has introduced a ‘yellow card’ system, with cards to be issued when candidates act too aggressively or personal.

Braverman no backers

One notable gap in the line-up is Braverman who this week ruled herself out of the race. Whether this was her own decision or one foisted upon her, we’ll never know. Though we can speculate, and my money is on the latter, as it seems is the case for a number of others…

Losing interest

In a critical turning point for the UK economy, the Bank of England lowered interest rates for the first time in four years from 5.25% to 5%. The decision to bring rates down from a 16-year high came after inflation eased in recent months, hitting the 2% target in June.

Brexit Corner

Divorce deal

The European Commission issued eight conditions that the UK must meet to “demonstrate real UK government commitment” if Starmer is to achieve his ambition for a better post-Brexit relationship with the EU. 

Given that the last Government spent so much time trashing our relationship with the EU it's no wonder the Commision wants some kind of assurance that the UK can be trusted to honour their agreements, before making any future ones. And while Starmer is not responsible for the damage, it is now down to him to rebuild that relationship and reinstate trust. 

The tough stance from the commission includes requests to fully implement elements of the existing Brexit agreements on Northern Ireland and the rights of EU citizens living in Britain. 

Southport stabbings

This week saw far-right protests - many of which turned violent - spread across the country in the wake of the shocking and senseless stabbings that took place in Southport on Monday. The unrest has been attributed to misinformation spread on social media. 

As our CEO Naomi Smith points out, “The far-right is always willing to exploit tragedy to sow the seeds of racial division and hatred, and it appears the horrific attack in Southport is no exception.”

Signs of life

After what has been a rather depressing week on the news front, I thought I’d finish with something a little lighter. Months after the world famous Sycamore Gap tree was chopped down near Hadrian’s wall, signs of life have been found growing from the stump, raising hopes that the icon might live on.

And on that note, I’ll let you get back to enjoying your weekend, which, if you're like me, will mostly take place in front of the TV enjoying the Olympics. 

Until next time!

Martha Harrison
Press Manager
Best for Britain