Anna Isaac
@Annaisaac
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City Editor @Guardian | Help me follow the money by sending tips here: anna.isaac @theguardian .com / trucker3 @pm .me |
London, England
Joined March 2009
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Do you have information that could lead to a story?
Email me - anna.isaac
@theguardian
.com, or (using a non-work phone) use Signal or WhatsApp to message +44 734 199 8403.
For the most secure communications, use SecureDrop:
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When a man on the train expresses surprise that a ‘young lady’ is reading the business section of the Telegraph and the FT. He starts explaining that Davos happens every year. What CBI and ECB stands for. I try to politely move on... he asks: ‘So what is it you do?’ 😬
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If you think you're having a bad day, imagine being the political aide who just accidentally messaged me talking about how fat I looked on telly this morning. Good effort!
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I never thought today would be the day I remind folk of this: Freeports were entirely possible within the EU.
That's not a pro or anti Brexit statement. It's simply a fact.
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Excl: Rishi Sunak’s millionaire wife ‘avoided tax through non-dom status’
The Treasury declined to comment. A spokesperson for Rishi Sunak did not respond to multiple requests for comment.
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The nature of Sir Laurie Magnus’ findings on Zahawi suggest that without public interest journalism - despite legal interventions that might have suppressed it - some of these details might never have come to light.
Brave sources. Cracking media lawyers. Great editors.
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Excl: Rishi Sunak ‘listed in tax haven as trust beneficiary’ while chancellor
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Excl: Johnson draws up plan for other people to quit over partygate so he can keep his job.
Number 10 declined to comment on the plan.
But a spox said they "absolutely do not recognise" its informal name (acc.sources): Operation Save Big Dog.
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Nadhim Zahawi: New chancellor’s finances investigated by National Crime Agency
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Excl: Cabinet ministers refuse to publicly declare offshore interests and non-dom status
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It’s hard to overstate the horror of foreign officials at what the British government’s actions mean for the standing of its assets and institutions.
Several G7 officials told me the Govt risks squandering the “extraordinary luxury” of int’l trust and respect for BoE & OBR.
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Exclusive: No.10 staff told to ‘clean up’ phones amid lockdown party allegations, sources told The Independent
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Update: They've apologised. Won't name & shame and post a screenshot, tempting as it is, as was arguably off-rec. But have made feelings known etc.
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Exclusive: The Independent reported claims from two sources that they were told to “clean up” phones amid the partygate investigation.
Now, a third source has come forward.
All three described a ‘culture of fear’ & holding back info from inquiry.
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NEW: After saying leadership candidates should be open about their tax affairs, Sajid Javid has refused to reveal the location of his former offshore trust, understood to have been in a tax haven:
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New: Senior treasury officials say they are frustrated that they did not know of the potential conflict of interest presented by Ms Murty’s non-dom tax status:
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Excl: A senior Downing Street source told The Independent that the PM was given a direct, first hand account of claims against Pincher before promoting him to deputy chief whip:
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New: Sajid Javid ‘exploited non-dom tax loophole’ while an MP working in Treasury
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New: The Guardian has seen internal Labour documents, confirmed by senior sources, which scope radical changes to capital gains and inheritance tax:
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Excl: Dominic Raab’s conflicts with staff led to delays in Afghanistan evacuation, sources claim
Joint effort with
@breeallegretti
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I think this is my favourite response.
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On watching
@bbclaurak
today & reactions, I still think there’s a problem: people haven’t yet wrapped their heads around the sheer scale of figures being discussed.
These are such MASSIVE numbers. Political arguments that used to concentrate on £5bn now abt £150bn!
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@Nicola_Slawson
Sure did. It’s made so much more difficult but not looking like someone who’d be interested in economics you understand... 🙇♀️ I realise nothing bad meant but yikes
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Freeports existed in the U.K. up until 2012, when they were scrapped.
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NEW: "UK Lawyers will be able to practice in Australia without having to requalify as an Australian lawyer." >> New govt doc on benefits of an Aussie deal.
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Excl: Traces of suspected cocaine found after parties in Liz Truss’s grace-and-favour house, say staff
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Some news 🚨📰 📘
Very excited to be joining the Guardian this autumn as its City Editor.
I’ll be following the money through banks, corporates and, of course, keeping an eye on routes into Westminster.
Keep in touch via DM or trucker3
@protonmail
.com
The
@guardian
appoints Anna Isaac to the newly-created role of city editor on its business desk. Read more here 👇
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Govt press officer just told me to be 'very careful' about the 'repercussions' of questions I was asking. This in the context of whether or not they could confirm a cabinet minister would travel to next week's Saudi conference. I mean, it's almost impressively tone-deaf.
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Fair to say this has invoked no small amount of fury among some recipients.
NEW: Cabinet Secretary Simon Case writes to civil servants about Sue Gray’s report: “We must now take the time to reflect on the report in full and consider the issues it has highlighted.”
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Penalties are applied if someone does not pay the correct tax at the right time.
Asked repeatedly about the penalty, Zahawi’s spokesperson did not deny one had been paid. Nor did they offer any explanation or clarification about the sums involved.
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@Nicola_Slawson
Would mind far less were it not for the fact it turned out he runs a company. And it’s not a small one.
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Interesting to see a statement issued to the BBC as this story was breaking.
When I broke original story of non-dom status, a statement was also issued immediately after publication.
Again - statement has not been issued to the Independent but has been issued to others.
Excl: Rishi Sunak ‘listed in tax haven as trust beneficiary’ while chancellor
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These echo & go further than recent on record comments from the IMF & Whitehouse.
One G7 finance official said: “I would not be so bold to criticise the IMF right now, if I were a Brit. It feels rather crazed to say it, but you may end up needing [it] rather soon.”
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@DanNeidle
@AArmstrong_says
@michaelsavage
@PickardJE
(Simon Walters who is not on Twitter) and others have all had important stories or blogs on this. Lots of detailed work by teams at The Times too. And been v.lucky to work with
@PippaCrerar
on the latest.
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Another said; “We know the Bank will do its best, but it’s been handed a disaster. Recent actions suggest the new Government will blame this catastrophe on the Bank, rather than its own reckless actions.”
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UK institutions are seen as setting really high standards for their work and sharing of best practices with other countries, G7 officials said.
The helped maintain investor confidence during the turmoil of Brexit: “It was amazing that Sterling only lost 20pc,” one said.
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Excited & daunted to say I'll be taking on the role of Economics Editor at the Independent, following on from the great work of
@BenChu_
from mid-July.
That means today is my last day with the amazing team at Politico.
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Flew a few thousand miles overnight for interview with
@patel4witham
... have a feeling it’s cancelled - she missed our flight this AM.
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The biggest
#Brexit
fig you haven't heard of: £45 trillion. This is the value of a bunch of financial contracts - called derivatives. These are at risk because the EU hasn't confirmed they will be recognised after March 2019. UK has. What's a derivative contract? Well...1/thread
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@katbrown
A straight answer as my insides cringed. He was a little surprised. Then, of course (I wear make-up and dresses on my days off): ‘What an interesting job. You don’t look at all like someone with a passion for economics.’
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Update from the Bank of England: from today it will widen the scope of its daily gilt purchase operations to also include purchases of index-linked gilts.
Notes dysfunction in this market, and the prospect of ‘fire sale’ dynamics that cld threaten U.K. financial stability.
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And many fine & dedicated experts who are very, very patient!
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Stunned to win journo of the year with such a talented shortlist.
So much thanks for the trust & bravery of my sources - sharing the worst of moments with me, or putting careers on the line to get important stories out.
Huge thanks too for patient editors & gifted lawyers.
The Media Freedom Awards National Journalist of the Year goes to
@Annaisaac
. The judges said that her work had shook the CBI to its core, exposing a culture of sexual misconduct
#MFA2023
@EditorsUK
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Intermittent reminder that I am not the somewhat more impressive India-based
@anna_isaac
, who reports for the
@thenewsminute
.
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Dear lady engineers, lady Drs, lady chemists, lady physicists, lady geologists, lady managers. Thanks to the messages I’ve received I now see the light: if you wear make-up or cut your hair don’t expect to be taken seriously. It’s a simple equation: 💄= 🤯 Now go make some tea.
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New: Amid a scramble to work out who knew what when about an investigation, settlement and penalty concerning Nadhim Zahawi’s taxes the question of an HMRC FOI in June last year is becoming a focal point.
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Another day, another news story about a woman admitting to reading and seeking out information. Where will it end.
Keira Knightley, who plays real-life whistle-blower Katherine Gunn in new film
#OfficialSecrets
, admits she is usually immersed in current affairs
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I have some predictions if there's a deal:
(1) V. few people will read the text
(2) Of those who read it fewer will know what it means
(3) Very few of those who read it & understand it will know how to apply it for biz
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New: Labour calls for probe into claims No 10 staff pressured to delete party evidence
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I try not to get cross about mansplaining. It often comes from the best of places. But today was not the day to try and tell me what a central bank was on my way to work.
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SCOOP w. the excellent
@b_c_chapman
: UK ports caught in Brexit storm as border ‘impossible’ to construct in time
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Fitch - a major credit ratings agency - puts the UK’s AA sovereign rating on notice citing: ‘...heightened uncertainty over the outcome of the Brexit process, and an increased risk of a disruptive 'no-deal' Brexit’.
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Long shot 🧶 - If you come across a blue knitted scarf in a yellow bag with knitting needles on the Circle or Hammersmith and City lines this Sunday, please hand it in at a station and drop me a DM. It’s nearly finished for someone’s birthday. 😢
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Ivan Rogers talking to
@pmdfoster
on future EU-U.K. relations:
(1) biz should forget reopening the Brexit deal
(2) expect ‘unpleasant surprises’ & ‘competitive’ relations
(3) there are ‘facile’ arguments coming out of DIT about the benefits of potential new trade deals
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The Independent has also been told that a group went up to the Downing Street flat on this day.
As Paul noted here, Downing Street has denied this.
As for family friends going up to the PM's flat, No 10 deny this:
"This is totally untrue. In line with the rules at the time the Prime Minister hosted a small number of family members outside that evening.”
We have approached Lulu Lytle for comment.
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Just want to remind folk that we already knew Zahawi was aware of HMRC investigation as Chancellor - bc I wrote about it in July last year.
I started investigating tax affairs of the cabinet just over a year ago.
We weren’t talking as much about tax, offshore, nondoms then…🧵
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Really important clarification - NI is being treated differently to the rest of the UK on this. GB will levy tariffs on EU imports. NI won’t. Understand govt believes this possible because of NI special moral case in international law.
U.K. govt will shortly announce ‘no deal’ plan for
@BorderIrish
Understand it’s an open-door policy. So no tariffs into U.K.; legal smuggling bonanza and NI businesses defenceless (and no doubt being charged tariffs the other way). Can that situation last? No. So back to table.
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Chancellor Nadhim Zahawi’s tax affairs under investigation by HMRC
W Simon Walters
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🚨As of today I'm Econ Ed at the
@Independent
📩Please send notes, tips, insights, press releases & data to anna.isaac
@independent
.co.uk
🗒️Here's a little detail about what I'm interested in... DM me for secure contact. 1/3
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Some inaccuracies:
(1) Seafood exports did rot.
(2) That the Single Market doesn't impact biz =news to N.I. & several govt depts.
(3) Exports (goods data) *partially* rebounded.
(4) Services trade has met barriers.
(5) New data has caveats.
(6) Yes, good to avoid hype.
‘Membership of the single market, despite all the hype around it, doesn’t make much difference to most exporters’
✍️ Matthew Lynn
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New: Officials say the government's approach to Alison Rose's position at NatWest damaged UK Plc by causing a disorderly removal of a CEO at a major bank.
> Treasury was briefed ahead of time on statement NatWest put out yday @ 17.42, sources say
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@AlbanThurston
@Nicola_Slawson
@dailytelegraph
Several times thanks to the encouragement of my bosses. The section has a wide and ranging readership.
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Thing I do, that I would ask all journos in econ/biz/politics to do. If you're interviewing a senior male figure who has kids - ask them how they juggle it all with childcare.
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If you’ve got a story or tip to share let’s talk. Reach me in confidence at trucker3
@protonmail
.com or DM for Signal, other contact info.
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Excl: Truss ‘accepted campaign help’ from ex-minister despite harassment claims w.
@samueljlovett
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Very surprised to end up with this in a field amid some absolute bosses. Nowt without sources, lawyers and eds.
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New: HMRC examines if David Cameron failed to fully disclose Greensill private flights as taxable perks - w/
@jmcollingridge
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By going on what's know as the dark web, I traced data used in Companies House (CH) fraud from hack to empty shop front on the highstreet, to the real victims affected.
CH failures costs banks millions in extra checks and fraud recovery each year. 1/3
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On US-UK trade -
@LiamFox
tells
@BBCr4today
that formal negs would be in breach of EU rules ahead of Oct 31, pouring cold water on Times’ deal on day one story. Full of qualifications that it will take a long time to strike accord citing elections, agri hurdles: change of tone.
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Rewatching Yes Prime Minister and it really hasn’t aged;
So far, Trident, Expenses for the PM’s living quarters…
“2020? that’s sooner than you think.”
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Some crazy trade lines coming out of the US trip.
(1) we already knew US had downed tools in trade talks with U.K. It was made clear talks were on ice until the NIprotocol was working effectively/no longer a source of tension.
Made post-consent vote before any move likely. 1/x
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Just joined
@POLITICOEurope
's UK team. I'll be covering trade and the economy. Dear people familiar with those matters please get in touch: add me to mailing lists, DM for Whatsapp, or Signal.
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NEW: UK forced to reopen sensitive Ukraine trade pact after errors in text
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For avoidance of doubt: no amount of intimidation will stop me from honest, non-partisan reporting. This year I’ve had threatening calls, been blocked from briefings, press conferences, and had to make a police report. It’s a price worth paying for public interest journalism.
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If the Spring Statement is getting a rough ride now, what is it going to be like when first set of higher bills - tax & energy - actually hit April paychecks and cut through the Westminster bubble?
Can this hold for seven months until October, and another £800+ on energy bills?
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New story from Simon Walters, follows a string of reports about financial interests/concerns around Downing Street.
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Down the phone from Kent: Lorry drivers can’t readily find loos. It’s cold, they are struggling to get clear information and they are losing money from jobs they can no longer fulfil. They’re also worried about a lack of info on the new strain. ‘Should I go home?’ says one.
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💸The proposals include increases in capital gains tax (CGT), first revealed by the Guardian two weeks ago, that could raise £8bn.
💰 Also in drafts are BIG potential changes to inheritance tax that could generate £2.3bn a year.
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Here to address the great *personal news* shortage of 2019. Next week is my last for
@telebusiness
. Still can’t believe I’ve been allowed to share snacks & scoops with some of Fleet Street’s finest. From 15 July I’ll be a reporter for
@WSJ
, covering financial markets from London.
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🚨Today is my first day at the Guardian as its City Editor. Really excited to get cracking!
My DMs are open, but I'm also on Signal, Proton & others if you want get in touch.
✉️ You can also reach me on my new email: anna.isaac
@theguardian
.com
🤫I always protect my sources.
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Cabinet ministers saying they wish more victims of sexual assault& rape would go to the police might consider that Home Office-held data for the year to September 2021 show 1.3% of the recorded rape offences that have been assigned an outcome resulted in a charge/summons.
1.3%
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I was at the
@Independent
at the time of this correspondence and worked with Simon Walters on some of these early reports last year.
Very interesting to see it laid out now:
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Some general advice for press officers and PRs: make sure you've hung up properly before describing me in all my glory.
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Chuffed to win this award for Scoop of the Year.
Big thanks to the judges & organisers, including some awesome fellow journos.
(I'm better at source protection than I am at posing for photos, I promise - so please keep the tips coming).
Finally, 'Scoop of the year' was awarded to
@Annaisaac
for revealing the non-dom tax status of Rishi Sunak's wife, Akshata Murthy, while Economics Editor at The Independent. (5/)
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💳⌛️New measures would make it much more difficult to “gift” money and assets, such as farmland, tax free. It effectively scraps much of the relief used for passing on agricultural and business assets.
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NEW: The
@Independent
has seen a recent draft of the Levelling Up white paper not due for release until 2022.
Here's the first story with
@ashcowburn
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👀
.
@Annaisaac
: “I’m thrilled to be joining the Guardian as its city editor. The UK is a financial and professional services superpower, and this is a critical time to document how financial levers dictate events, from Westminster politics to international sanctions”
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It is genuinely hard to comprehend the implications of scale here.
And when we talk about market/fiscal sensitivities it might be worth starting with something as simple as: the numbers; they’re extremely large & the economy has shrunk since Covid.
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These conversations are said to have taken place before Mr Pincher’s appointment in February and again in May.
They involved specific, detailed allegations, according to the senior Downing Street source.
Number 10 declined to comment.
Excl: A senior Downing Street source told The Independent that the PM was given a direct, first hand account of claims against Pincher before promoting him to deputy chief whip:
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Frankly tickled by how many images of naked man stuff I receive if I ever mention women in the workplace on here or in articles. Just no idea what outcome you’re after, guys. Is it the gateway to wisdom? Like, if I see enough, I’ll improve my understanding of monetary policy?
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My local bakery now knows me so well they kept some pastries aside even without an xmas eve preorder: 'We just knew you'd come. Good luck with the Brexit."
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In a document seen by The Independent, No 10 appear to have drafted a response to a resignation letter from Cabinet Secretary Simon Case.
That’s before the Sue Gray report has been published or seen in full by No 10.
New: No 10 preparing for resignation of top civil servant over Partygate report
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Annnnd that’s a wrap on my time at the Independent…
It’s been wild.
Some fun bits:
💸 broke the news that No.10 was reviewing the mini budget and weighing hiking corp tax *on Tuesday*
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Reminders; 1) you can take your postal vote to your polling station by hand today, (2) you do not have to have your polling card to vote, (3) unless you’re in Nothern Ireland - current rules state you don’t need to have present ID (4) you can get an emergency proxy vote up to 5pm
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NEW: HMRC investigating tax affairs of one of Tory party’s largest donors
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Others picking up as I wrote last week: OBR was ready, willing & able to assess the government’s mini-Budget.
It was a political decision not to allow this.
Sidelining the spending watchdog ramped up market fears about UK’s finances.
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Erm.
Somewhat gobsmacked to be shortlisted for political journalist of the year here, with some right giants.
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Important context on Ford closure: the plant is 15 minutes from Port Talbot steelworks. The entire area's manufacturing is - to quote one source - "being decimated". Ford's pay is some of the best in South Wales. These are high value jobs being lost.
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