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Today saw a shift in rhetoric from Chancellor Rachel Reeves as she moved to promise the Labour conference a more optimistic vision for the country. 

But quietly there also appears to have been a shift in approach, which could mean a markedly different landscape for public spending come the budget on 30 October, allowing far greater scope for Labour to borrow and spend.

Politics live: ‘More optimistic’ Budget could be in store

The easiest way to see the change is to compare the chancellor’s actions before and after the summer.

In July, when Ms Reeves created the £22bn “black hole”, she gave us a taste of how she intended to fill it.

Not only was there the means testing of the winter fuel allowance, but she did something the Treasury have been wanting for years – to cancel a whole load of investment projects, including road building with the A303 down to Cornwall, as well as delaying the hospital building programme.

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This was as striking as it was confusing. Such projects would be the cornerstone of any government’s growth plan.

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Yet in the eternal tension in Labour between fiscal discipline and growth, the former had won out seemingly at the expense of the latter.

And Treasury mandarins at the time were clear. The best way to fill an immediate £22bn black hole would always be to delay or can these investments – or capital projects.

Now fast forward to the Autumn and £16bn of the black hole remains to be filled on 30 October.

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There is no doubt that some tax rises, welfare cuts and spending curbs may be in the mix. But I am told that borrowing might also be used to plug this hole.

This is by no means certain – the government’s first fiscal rule could yet prevent this from happening.

But I am told they may reduce the amount of cuts or tax rises simply by putting it on the nation’s credit card once more.

This is just one of the ways that the government may allow itself to borrow more.

There is the well-trailed discussion about redefining debt in the second fiscal rule – a technical change that could free up £15bn or more.

There’s discussion about how to treat other assets like GB Energy on the balance sheet, which again could allow the government to borrow more within its rules.

The markets are unlikely to take fright. They have been convinced, it seems, by the vibe of Ms Reeves as an iron chancellor.

However, there is now a chance the optimistic vision she outlined today could come sooner than we think – thanks to higher borrowing.

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Jess Phillips says there’s ‘no place’ where violence against women ‘doesn’t happen’ – as spiking to become new offence

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Jess Phillips says there's 'no place' where violence against women 'doesn't happen' - as spiking to become new offence

Jess Phillips has said “there is no place” where violence against women and girls “doesn’t happen” – as a new law is set to make spiking a criminal offence.

Earlier on Friday, the government said spiking will now be its own offence with a possible 10-year prison sentence as part of the Crime and Policing Bill, which will be introduced in parliament next week.

It also announced a nationwide training programme to help workers spot and prevent attacks.

Speaking to Sky News correspondent Ashna Hurynag, the safeguarding minister said that while spiking is already illegal under existing laws, the new classification will simplify reporting the act for victims.

“Spiking is illegal – that isn’t in question, but what victims and campaigners who have tried to use the legislation as it currently is have told us is that it’s unclear,” Ms Phillips said.

Spiking. Pic: iStock
Image:
Spiking will be made a criminal offence, carrying a sentence of up to 10 years. Pic: iStock

UK ‘was never safe’ for women

When asked if the UK is becoming a less safe place for women, the minister for safeguarding and violence against women and girls, said: “I don’t think it’s becoming less safe, if I’m being honest. I think it was never safe.”

Speaking about a rise in coverage, Ms Phillips said: “We have a real opportunity to use that, the sense of feeling [built by campaigners] in the country, to really push forward political change in this space.”

“The reality is that it doesn’t matter whether it’s the House of Commons or any pub in your local high street – there is no place where violence against women and girls doesn’t happen, I’m afraid,” she added.

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Spiking is when someone is given drugs or alcohol without them knowing or consenting, either by someone putting something in their drink or using a needle.

Police in England and Wales received 6,732 reports of spiking in the year up to April 2023 – with 957 of those relating to needle spiking.

London’s Metropolitan Police added that reports of spiking had increased by 13% in 2023, with 1,383 allegations.

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November 2024: If you got spiked would you report it?

As part of the nationwide training programme, a £250,000 government-funded scheme was started last week to teach staff how to spot warning signs of spiking crimes, prevent incidents and gather evidence.

It aims to train 10,000 staff at pubs, clubs and bars for free by April this year.

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Alex Davies-Jones, minister for victims and violence against women and girls, said in a statement that “no one should feel afraid to go out at night” or “have to take extreme precautions to keep themselves safe when they do”.

“To perpetrators, my message is clear: spiking is vile and illegal and we will stop you,” he said. “To victims or those at risk, we want you to know: the law is on your side. Come forward and help us catch these criminals.”

Colin Mackie, founder of Spike Aware UK, also said the charity is “delighted with the steps being taken by the government to combat spiking”.

He added: “Spiking can happen anywhere, but these new initiatives are the first steps to making it socially unacceptable and we urge anyone that suspects or sees it happening, not to remain silent.”

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Argentina’s crypto adoption hopes dim after Milei’s LIBRA memecoin scandal

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Argentina’s crypto adoption hopes dim after Milei’s LIBRA memecoin scandal

The chances for pro-crypto regulation in Argentina could crumble as a result of President Milei’s LIBRA memecoin scandal.

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The Libra scandal continues, ‘manufactured’ Bitcoin price action: Finance Redefined

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The Libra scandal continues, ‘manufactured’ Bitcoin price action: Finance Redefined

Argentina’s Libra scandal continues to unfold, and Bitcoin’s two-month crab walk has raised “price suppression” concerns among industry leaders, such as Samson Mow.

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