Feed back up from Chancellor’s speech: “In the big calls Boris Johnson has got it right”... lists all the measures to support economy:
Chancellor: “even if this moment is more difficult than any you have ever faced, even if it feels like there is no hope, I am telling you that there is, and that the overwhelming might of the British state will be placed at your service”...
Chancellor says he will balance the books... getting borrowing and debt under control “over medium term...”
No announcements in speech - which contrasts with Sajid Javid last year announcing the “end of low pay” - though not totally unprecedented - Hammond’s CPC speeches were not overflowing with announcements...
All in keeping with cancellation of Budget... Chancellor didn’t even mention the spending review, still in crisis mode.
Striking though to have a Conservative Chancellor of the Exchequer promising the “overwhelming might of the British state” to UK voters. Clearly this is a product of the moment, but still notable...

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More from @faisalislam

6 Oct
Covid has led to an “expansion of the role of the state that goes against our instincts”

PM says “continuing furlough forever” keeps “people in suspended animation” and says Opposition sees state expansion as welcome and wants to spend “half our national income”...
Notably small reference to Brexit - eg no mention of no deal/ Australian terms etc.

PM paints vision of a cosmopolitan country in charge of its own fisheries and laws, where you use a “blue Brexit passport” having jetted in on a low carbon jet and get an EV taxi.
Trying to get details on 95% mortgage guarantee push...

“Fix broken housing market”...“transforming sclerotic planning ... not enough”

Giving chance for young first time buyers to take long term fixed rate mortgages up to 95%, vastly reducing deposit... could create 2m more o-o
Read 10 tweets
5 Oct
appears really quite significant...

1. This is Japanese HQs talking, not local management

2. Asking for something not legal under WTO rules, which they know - so sending broader message

Comes after our story last week of Frost letter saying “cant insist on” third country parts
Some context: Informal suggestions were made on reimbursing UK-EU tariff costs to Japanese manufacturers who had invested over decades on basis of seamless access to EU single market, as far back as 4 years ago, but back then they told the Government it would be illegal under WTO
A multi-company Japan HQ ask of UK Government has car industry insiders suspecting that Japan’s formidable METI ministry would have known about it too. Certainly, many of the very same issues as first raised in Japan’s post referendum pre 2016 G20 letter, are now materialising
Read 5 tweets
4 Oct
Still waiting for today’s new case data here... following yesterday’s 12,872 extra cases over several days following the “failure in the counting system” coronavirus.data.gov.uk/cases
Being updated right now actually - website will be ready at 2138 - but in meantime number 22,961 has come up under “daily total” - which would be huge, though is presumably a few days correction. Reference to “15.841” additional cases from automated process transferring to PHE
That confirmed 22,961 new positive cases reported today across the UK... much of which is a rectified error... so in theory should fall straight back down again very soon... but it does this to the “by date reported” chart
Read 10 tweets
4 Oct
PM to Marr: “EU needs to understand we utterly serious about controlling our own laws/regulations..and repatriation of fisheries”

Marr: in any way worried about no deal in mid of pandemic?

PM: “I don’t want Australian WTO outcome particularly...
But can more than live with it”
Might be a tell there in terms of PM’s instinctive first answer to the prospect of No Deal mid-pandemic, though he went on to say we’ll prosper etc...

Rest of interview message very clear - going to be bumpy as regards pandemic restrictions for months to come.
Other notables from the interview, answer to Marr question on whether Eat Out to Help Out spread the virus:
PM: “Insofar as that scheme may have helped spread the virus then we need to counteract that...”
Read 7 tweets
2 Oct
This is the still being trialled “polyclonal antibody” cocktail administered to POTUS, according to his physician.

Results on early trial of 275 only released this week. POTUS given 8g, which was the high dose trialled (vs 2.4g)

investor.regeneron.com/news-releases/…
company confirms that it gave a “compassionate use” dose of its experimental treatment and say in its trials “Greatest improvements in patients who had not mounted their own effective immune response prior to treatment”
Obama’s Homeland Security sec Jeh Johnson saying that the Presidential line of succession, Pence, Pelosi, Pompeo etc should self-isolate as a precaution... blimey
Read 4 tweets
2 Oct
Deploying state aid the big sticking point for PM with VDL?

in Q&A today Chancellor publicly sceptical actually using it

Re “state aid, I’m slightly cautious about Govt ability to sit here & pick precise winners..market better at figuring out than I am sitting in this office”
Could prioritisation of theoretical wider ability to subsidise bust industry, which Sunak inherently sceptical about even if we were flush with cash, but right now not, (esp when we didn’t use powers allowable even under EU laws) lead to tariffs on actually profitable industries?
Also worth recalling that the specific question on the Chancellor’s q&a to which he gave sceptical answer was about what proportion of state aid would be earmarked for the tech sector - exactly what was percolated out as the big plan last month...
Read 6 tweets

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