Newslinks for Friday 4th April 2025

April 4, 2025

Tariffs 1) Global stock markets plunge £2 trillion

“Wall Street had its worst day since the height of the Covid crash after President Donald Trump’s tariffs sparked fears of a US and global recession. Trump seems unfazed. Asked about tumbling stocks on Thursday as he boarded Air Force One to attend a golf dinner in Miami — as the Dow Jones was down 1,400 points — Trump said: ‘I think it is going very well. It was an operation. It is like when a patient gets operated on and it’s a big thing. I said this would exactly be the way it is,’ he added, claiming that ‘six or seven trillion’ dollars would be coming into US…When the markets closed at 4pm in New York, the S&P 500 was down 4.84 percent, its worst day since June 2020 — as $2 trillion was wiped from an index almost every American has in their normal and retirement investments.” – Daily Mail

Europe braces for flood of Chinese goods after US tariffs – Financial Times
Buy British to beat Trump tariffs, urge Lib Dems – BBC
America’s astonishing act of self-harm – Leader, Financial Times
Brexit helped us escape harsher Trump tariffs. Even Remainers can’t dispute that – Leader, The Sun
Assault on free trade will do far more harm than good – Leader, The Times
Trump tests America’s threshold for pain – Gerard Baker, The Times
Falklands toothfish caught in Trump’s tariff dragnet – Financial Times

>Today: ToryDiary: Kemi’s chlorinated chicken: moral panic or serious animal welfare issue?

Tariffs 2) UK sets May 1st deadline for a deal before retaliating

“The UK government is drawing up a list of US products it could hit with retaliatory tariffs after President Donald Trump announced a wave of new import taxes. This is a toughening of the government’s stance as ministers seek to finalise a trade deal with the US. Business Secretary Jonathan Reynolds says he is consulting UK firms about the likely impact of the 10% tariffs being imposed on nearly all UK exports to the US and which products should be on the list. If UK negotiators can not agree a deal to reduce the 10% tariff by 1 May, the business secretary told MPs the government could impose retaliatory tariffs on US imports.” – BBC

I will always ensure I have the necessary tools to protect our economy – Jonathan Reynolds, Daily Telegraph
Don’t weaken online safety laws for UK-US trade deal, campaigners urge – The Guardian

Tariffs 3) Hunt urges free trade on Singapore model

“Sir Keir Starmer must embrace Brexit freedoms to turn Britain into “Singapore-on-Thames” after Donald Trump launched a global trade war, Jeremy Hunt has said. In his first major intervention since leaving office, the former chancellor said erecting more trade barriers risked tipping Britain into recession and consigning the economy to permanently lower growth. Instead, Mr Hunt urged the Prime Minister to make Britain a low-tax nation that welcomed free trade and could thrive at a time of global instability. He revived calls common during the Brexit debate for the UK to copy the model of Singapore in order to find prosperity.” – Daily Telegraph

If we hold our nerve, Britain can emerge from this crisis a competitive trailblazer – Jeremy Hunt, Daily Telegraph
There is now a great opportunity for a sovereign UK – Leader, Daily Telegraph

Tariffs 4) Republican donors speak out

“A group of Republican lawmakers and conservative donors has hit out at Donald Trump’s sweeping new tariffs on US trading partners, signalling some unease within the party at the president’s economic strategy. Trump broke with Republican free-market orthodoxy again on Wednesday, launching a new trade war that sparked a sharp sell-off in equity markets amid fears for the global economy. Some members of Congress, including former Senate majority leader Mitch McConnell, and wealthy Republicans were quick to register their disapproval with Trump’s move, and one said it could cleave the party.” – Financial Times

Tariffs 5) Frost: There’s method to the madness

“The world isn’t made up of businesses but of nations. You may not be interested in another nation getting richer if you think you might fight a war with them one day. And your own nation will only work well if there is a common sense of solidarity and political community: if the people who live there are “all in it together”. That social contract is breaking down, in America as elsewhere. Big business often seems indifferent to the local consequences of its decisions.” – David Frost, Daily Telegraph

>Today: Bernard Jenkin on Comment: To prepare for a post-American order, we need to totally mobilise British society

Government chose “most disruptive” date for VAT on schools

“UK ministers were warned by civil servants that imposing VAT on private schools fees from January was the “most disruptive” option for pupils, court documents show. Treasury files reveal that chancellor Rachel Reeves dismissed the idea of introducing the 20 per cent levy in April or August 2025 in order to “maximise revenue”. The internal communications between Treasury officials and the chancellor shine a light on government deliberations last July, in the weeks between Labour winning the general election and rolling out the policy.” – Financial Times

67 per cent tax rate will drive the last non-doms away from Britain – James Lawson, City AM

Union attacks Government over bin strike

“The government is sitting on its hands over the Birmingham bin strike as negotiations in the dispute descend into farce, a union boss says. Unite general secretary Sharon Graham has told Deputy Prime Minister Angela Rayner the government can no longer say it is “nothing to do with us. We can’t get involved”. In a letter to Rayner, leaked to the BBC, Graham also claims “false narratives” have been used in government statements on the dispute that has left more than 17,000 tonnes of waste on city streets.” – BBC

Local elections 1) Reform UK has more council candidates than any other party

“Reform UK will field more local election candidates than any other party. Nigel Farage’s Right-wing party has announced it has 1,630 candidates up for election, contesting nearly all 1,641 available council seats. Labour is contesting 1,540 seats and the Tories 1,594 seats. Reform is hoping to make sweeping gains across the country in local elections held on May 1. The party claims it is the first time since 1902 that a party other than Labour or the Conservatives has fielded the most candidates in any election.” – Daily Telegraph

Jamie Greene resigns as Conservative MSP over ‘Reform-lite’ agenda

>Today: Adam Kent on Local Government: Voters should beware of socialist candidates standing as ‘independents’

Local elections 2) Labour launches its campaign

“Prime Minister Sir Keir Starmer has urged the public to “vote for change in your community”, as he launched Labour’s local election campaign for England. The elections on 1 May are the party’s first major test at the ballot box since winning power in last July’s landslide victory. But Labour is now facing a more challenging backdrop, after slumping in the polls in recent months. At an event in Derbyshire, a key target council which is currently run by the Conservatives, Sir Keir said Labour councils would “work hand-in-hand” with the government on its plan for change, including bringing back community policing, supporting High Streets and fixing potholes.” – BBC

Starmer accuses Reform UK of ‘fawning over Putin’ – The Guardian

Luton Airport’s expansion approved

“Luton airport’s expansion plan has been approved by ministers despite recommendations to reject it on environmental grounds. Transport Secretary Heidi Alexander granted permission for the development despite advice from the Planning Inspectorate to block it. Sir Keir Starmer hailed the decision as a triumph over the ‘blockers’ as he pursues a ‘growth over green’ policy – but Energy Secretary Ed Miliband previously argued against expanding airports as it would breach green targets.” – Daily Mail

>Yesterday: Sam Hall on Comment: Conservatives can still tackle climate change and it not cost the earth

Councils may be stopped from blocking late-night pub and club openings

“Councils may be stopped from blocking late opening of pubs and clubs in a bid to save hospitality in the capital. A task force of industry experts will meet to help slash licensing red tape. London Mayor Sir Sadiq Khan is getting powers to “call in” decisions restricting opening hours. It could see more late drinking venues and al-fresco dining areas in the capital. If successful, the plan could be extended to other cities. Chancellor Rachel Reeves said “unnecessarily burdensome red tape” is choking the sector.” – The Sun

Tories accuse Labour of ‘staggering hypocrisy’ over announcement – Daily Express

>Today: Luke Black on Comment: Labour is anti-fun, and its plan to strangle London’s nightlife proves it

>Yesterday: Harry Curtis on Comment: A blueprint to win the youth vote

More than 500,000 young people have never worked

“More than half a million young people who are not working or studying have never had a job, an analysis has found. Most of those not in education, employment or training (Neet) are also not looking for a job and an increasing number report sickness as the main reason. Sir Keir Starmer has described as a “moral issue” the fact that one in eight young people are not working or studying. He has been told that he needs to do more for what he has called a “wasted generation” — almost half have been out of work or education for more than a year.” – The Times

Sick notes to be overhauled in back-to-work drive Liz Kendall reveals – The i

Other political news

Prisoners ‘held in isolation to keep them safe from Islamists’ – The Times
Lush and Kwik Fit warn tax rise will push up prices – BBC
Gender pay gap widens at big Whitehall departments – Financial Times
How rats and cockroaches are thriving in NHS hospitals – The i
Westminster Council is telling staff to undergo a “privilege” test as part of its efforts to combat unconscious bias against ethnic minorities – Daily Telegraph
Tory bid to boost NHS dental appointments led to fewer patients, MPs say – Financial Times
Elderly deserve specific human rights enshrined in law — just as children do, demand MPs – The Sun
South Korean president Yoon Suk Yeol removed from office over martial law declaration – Daily Telegraph
Foreign Secretary risks accusations of hypocrisy after Labour criticised Tories for using private planes – Daily Express
Blanket ban on teen smartphone use ‘potentially detrimental’, says academic – The Guardian
Norfolk ‘megafarm’ blocked over council’s climate concerns – Financial Times
Jamaican rapist avoids deportation on human rights grounds – Daily Mail
Home Office spent £22,000 on failed attempt to stop Windrush report release – The Guardian

Maguire: Ministers are determined to take back control from the Quangos

“In the coming weeks I understand Downing Street will draw up tests against which the existence of more than 300 quangos will be judged. Do they obstruct the government’s mandate? Do they duplicate work already done by ministers, or each other? If yes, they face an uncertain future. Some MPs would like to see them all abolished. Jonathan Hinder and Jonathan Brash, leading lights in the new Blue Labour caucus, have between them proposed the abolition of the OBR, the Sentencing Council, the Bank of England’s monetary policy committee and withdrawal from the ECHR. Hinder, a straightforward ex-copper from east Lancashire, puts it like this: “The British government does not run this country.” – Patrick Maguire, The Times