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Robert Peston
@Peston
, 3 tweets, 1 min read Read on Twitter
Very important decision by @ONS that a proportion of student loans should count as public spending, because they will never be repaid. This has big implications. It means government’s annual deficit rises at a stroke by £12bn or 0.6% of GDP. Which...

blog.ons.gov.uk/2018/12/17/acc…
...in turns means 1) there is much less of a perceived saving for government from lending to students rather than giving grants, or funding universities directly (so makes Labour’s grant abolition more affordable), and 2) reduces scope for @PhilipHammondUK to end austerity
Sorry. Solecism just spotted. I meant “Labour’s loan abolition”, not “grant”. But I know you are all smart enough to know what I was driving at.
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Robert Peston
@Peston
I despair at the misunderstanding - wilful or accidental - of what this Tweet meant. It did not in any sense imply ERG or Brexiter ultras are coming round to @theresa_may's deal. It simply meant that if @hilarybennmp's passes, it would see both May's deal...
...and a no-deal Brexit voted down, which is obviously contrary to what the Brexiters want. This is such a statement of the bloomin' obvious that I only mentioned what senior ERGer told me to explain why many of Benn's colleagues want him to withdraw his amendment - not in...
...any to imply ERG coming round to May. If sterling traders misunderstood this, and bought cable off the back, they should pay more attention!
Read 3 tweets
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Robert Peston
@Peston
MPs vote to further bind @theresa_may's hands on Brexit, if she loses her deal next week - by 308 to 297. Historic
The main impact is to transfer significant power to MPs to determine what kind of Brexit or no-Brexit the UK will have - because as and when @theresa_may loses vote on her Brexit plan next week, she will have to report to parliament in three working days on...
...what comes next. This will take the form of a motion she lays before the Commons. And this motion would be amendable, as I understand it. So at that point MPs could - at last, some would say - vote on what form of Brexit or no-Brexit (viz a referendum) they would support. Huge
Read 3 tweets
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Robert Peston
@Peston
This from @DLidington in his written statement on backstop is gripping: "there would be no regulatory divergence between GB and NI in areas covered by the backstop in any scenario in which it applied". It implies whole UK and not just Northern Ireland...
...would be rule taker from Brussels in many areas of single market for as long as backstop is in effect. Maybe it will provide modest reassurance to DUP MPs (though I very much doubt that). However it will reinforce the opposition to her deal from Tory Brexiters
Or to use the tendentious language of @BorisJohnson and @Jacob_Rees_Mogg, @theresa_may's solution to the backstop crisis is to propose more vassalage for the whole UK. Can't see them being impressed
Read 3 tweets

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Judd Legum
@JuddLegum
1. @RoyCooperNC is facing a very important decision that will have a big impact on who becomes the next member of Congress for the 9th District.

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Let’s consider the various ways in which this is completely bonkers. The deal is not just the government’s flagship policy it’s one of the two most important political events in a generation.
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Mona
@Monaheart1229
"[Trump] said no changes can be made to Medicare and Social Security,.." so again, his tune changes. I hope that this holds, but I'm doubtful. #SundayMorning #Deficit
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Good evening family, it's a beautiful Sunday here in Lagos Nigeria, thank you for joining us.
Weather is absolutely fantastic, great for an #Audacious session.
I had a fantastic week operating my #Kingship, what about you?
Like I did say, I don't need the crown to be called king, I am a King and I know it and I operate my kingship. 💯
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dongwon
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It's Saturday, I just ate my body weight in pancakes so I have some thoughts on CRAFT and what makes a book Commercial Fiction vs Literary Fiction. Hang out or mute. You do you.
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@peternbell
1/ Shoutout #ESSCO Earth Science Services Corp. earthscienceservices.ca and the Stargate II (SGII) system.
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