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The Guardian Politics11 Mar 2026

The Guardian view on Adam Smith: he deserves rescuing from the free-market myth | Editorial

On the 250th anniversary of The Wealth of Nations, the Scottish philospher is still invoked by the right. Yet he worried about inequality, monopoly and the power of wealth This week 250 years ago, Adam Smith published An Inquiry Into the Nature and Causes of the Wealth of Nations – and invented economics. The anniversary has been marked by opinion columns, new books and academic conferences. How different it was 50 years ago. The 1976 bicentenary produced the definitive scholarly edition and hel

EconomyHousing
The Guardian Politics11 Mar 2026

A clever person knows their limitations … Kemi believes she has none

There was time for Kemi to embarrass herself again as she explained how we were both at war and not at war Taxi for Kemi. It’s only a matter of time before Tory MPs start thinking the unthinkable and hand their leader her P45. It could be happening even now. This week’s prime minister’s questions can only have concentrated a few minds. Buyer’s remorse has long since passed. Some have now moved through the five stages of grief. First there was the denial. Despite evidence to the contrary, Kemi wa

PoliticsEconomyDefence
The Guardian Politics11 Mar 2026

‘Nothing off the table’ as Rachel Reeves considers ‘targeted support’ over energy costs

Chancellor does not rule out ditching fuel duty rise but tells MPs it is too early to gauge if consumers need extra help Business live – latest updates Rachel Reeves has refused to rule out ditching a planned fuel duty increase in September, as she promised “nothing is off the table” to help consumers with rising energy costs amid the Iran conflict. The chancellor told MPs on the Treasury select committee that options for “targeted support as well as broader measures” were being explored, alth

PoliticsEconomy
The Guardian Politics11 Mar 2026

The Iran oil crisis has proved Ed Miliband right on green energy. But households still need more help | Mathew Lawrence

Britain’s whole energy economy needs to be reformed – decarbonising the grid is only part of the mix Britain is once again paying the price of an energy system that is more effective at extracting profits than delivering security. Illegal war and geopolitical disruption are sending fossil fuel prices soaring – and because our electricity market turns volatile gas prices into higher electricity bills, families here risk paying the cost. The government is already unpopular. How it responds to this

PoliticsEconomyDefenceEnvironment
The Guardian Politics11 Mar 2026

Trump’s ego-trip war has collided with economic reality but he can’t undo the damage | Rafael Behr

The US president’s doctrine of lawless military adventures harms American interests and boosts Vladimir Putin Waging war with no fixed purpose means victory can be declared at any point. Donald Trump’s motives for launching Operation Epic Fury against Iran were incoherent at the start. They are no clearer now that he has declared it “very complete, pretty much”. US and Israeli bombs have caused death and destruction, shaking but not toppling the government in Tehran. Among the targets was the su

EconomyDefenceHousing
The Guardian Politics10 Mar 2026

Digital ID scheme to have limited use before next election, minister says

Darren Jones says £1.8bn project likely to cover only vehicle tax payments and right-to-work checks initially Britain’s £1.8bn digital ID scheme will only be available for a handful of uses by the next election, including paying vehicle tax and right-to-work checks, the minister in charge of the project has said. Darren Jones, the prime minister’s chief secretary, told reporters on Tuesday he eventually wanted the app to be used for everything from claiming benefits to proving the right to vote,

PoliticsEconomy
The Guardian Politics10 Mar 2026

Scrapping North Sea windfall tax would not reduce UK energy bills, say experts

Rachel Reeves said to be considering levy cuts for oil and gas firms, but economists say this would just fatten profits Easing the windfall tax on the North Sea would do nothing for hard-pressed consumers, and merely fatten the profits of oil and gas companies, economists and experts have told the Guardian. Rachel Reeves, the UK chancellor, is understood to be considering reductions to the energy profits levy, or potentially scrapping it and replacing it with a lower duty. Oil prices rose to $10

Economy
The Guardian Politics10 Mar 2026

Reeves to face MPs’ grilling over cost-of-living pressures – UK politics live

Chancellor to take Treasury questions amid market turbulence linked to Middle East conflict As we mentioned in the opening post, Rachel Reeves is under pressure to cancel the planned increase in fuel duty due in September which will cause drivers to pay more for petrol and diesel as the government rolls back a temporary cut that was introduced in 2022 in response to Russia’s full-scale invasion of Ukraine. At her budget last year, Reeves said the 5p cut would be unwound between September 2026 an

PoliticsEconomy
The Guardian Politics10 Mar 2026

The blistering speech that tells me Britain’s social care deadlock can finally be broken | Polly Toynbee

If anyone can convince politicians and public of the need to pay for a national care service, it’s Louise Casey. With her involved, I now have hope No government in my lifetime has been dealt a worse hand than Keir Starmer’s. Austerity-broken public services, an empty Treasury, a jittery bond market freaked out by Liz Truss and then stricken by the arrival of Trump 2.0 with his bully-tariffs. Now Britain’s ally is setting the Middle East on fire in a murderous war, exploding oil and gas prices.

EconomyDefenceCrime
The Guardian Politics9 Mar 2026

So Badenoch, Farage and Blair think the Iran war is a great idea? Hmm … | John Crace

Kemi may be all in favour, but at least economic realpolitik is forcing her to take a slightly different tack There have been any number of opportunities for people to decide they wanted no part of America’s war with Iran. The first was after the US had launched its first wave of strikes. To be fair, this was the moment Keir Starmer and most of the UK reckoned enough was enough and that our involvement would be limited to defensive strikes only. You couldn’t really fault the logic. Did the UK re

EconomyDefenceReformHousing
The Guardian Politics9 Mar 2026

UK inflation likely to rise because of Middle East war, says Rachel Reeves

British chancellor says she will take steps to help families with cost of living as oil prices surge Middle East crisis – live updates Britain is likely to be hit by rising inflation because of the US war with Iran, the UK chancellor, Rachel Reeves, has said, as she suggested that a “rapid de-escalation” would be the best protection against a jump in energy prices. Both the chancellor and the prime minister, Keir Starmer, suggested the government would be prepared to intervene to protect UK h

EconomyDefence
The Guardian Politics9 Mar 2026

Is the UK government prepared for oil price hikes? – podcast

Oil prices have already shot up thanks to the US-Israeli war in Iran. But what is the economic fallout likely to be? Will interest rates rise? What about inflation? Could the cost of borrowing increase – and by how much? Pippa Crerar and Kiran Stacey discuss how the cost of living might be hit and the political implications of that Continue reading...

PoliticsEconomyDefence