The Month That Was……October 2026

The big story dominating economic and investment markets is the mid-terms in the US. The biggest and most powerful economy in the world is about to give a huge vote of no confidence to the (self-proclaimed) most powerful person in the world. If you believe all you read, The Trump is going to get battered.

The important political point is that Presidents with approval ratings below 40% have historically tended to see significant congressional losses. The Trump’s rating is currently 30%. Wow.

That figure stopped me in my tracks for a moment……that means 3 in 10 Americans approve of his Presidential performance thus far. Simply staggering.

The bigger point here is what happens when you lose the mid-terms. Well, nothing automatically happens and The Trump will stay in office for another 2 years. What changes is his ability to govern freely.

If (when) The Trump loses the Senate (100 members), the opposition will have sufficient seats / votes to block judicial appointments, delay or reject cabinet nominees and make it much harder to shape the federal courts.

If (when) The Trump loses the House of Representatives (435 members), the opposition will have sufficient seats / votes to stop laws being passed, have control of budgets and can begin investigations.

And it is the final point that is controlling the narrative in the media……investigations into The Trump become far more viable and likely. It is this issue that has become an obsession with The Trump and one that has shaped his actions this year.

The media love a good investigation……and losing the mid-terms is likely to see the US investigating and probably suing / impeaching its most powerful person. It’s as juicy a story as it can get for the media and they will feast on it.

However, scratch beneath the surface and there is plenty to be quietly happy about. Since the US Civil War era, a sitting President's party has almost always lost seats in the House of Representatives during mid-term elections. Political scientists often describe it as one of the most reliable patterns in American politics. In fact, there are only 3 exceptions to this……Franklin D. Roosevelt (1934), Bill Clinton (1998) and George W. Bush (2002) in the last 90 years. The President almost always loses the mid-terms. It’s the norm.

But what we will get if history repeats itself is a lame duck presidency……no power to pass anything The Trump wants. Every major policy becomes a negotiation and The Trump can no longer assume he can pass legislation.

When you have somebody so radical and unpredictable as The Trump, losing the mid-terms would reduce power and remove some level of uncertainty. I don’t think we can ever achieve certainty with The Trump in power……but reducing uncertainty can only be a good thing for world order.

Polling on Tuesday 3^rd November will just be Page 1 of the next chapter……it will be a captivating story. 

The Numbers

The Budget dominated the numbers this month, which was Labour’s 3^rd attempt and 1^st for John Healy since becoming Chancellor of the Exchequer in July 2026.

Plenty in Westminster across all political parties will agree that how well taxpayer money is spent and where it is spent matters most.

In the bones of many in the Labour Party is an instinct that the Government can and should be a vital agent in driving change and improvements in people's lives. A view grounded in a sense that Governments should proudly step in rather than get out of the way.

So, how do you proactively deliver for people in a noticeable way……when the tax burden is generationally high, the national debt is sky high, energy bills are rising and inflation is higher than expected?

If you are not brave, then the answer is obvious……you don’t tackle it. The cocktail of small changes in the Budget reflected this……with little sign of tackling the big stuff.

The ‘smorgasbord’ of announcements:

- An extra £14 billion per year will be needed to cover public debt interest compared with forecasts made earlier this year due to the increased borrowing costs attributed to the Middle East conflict.

- The VAT cut on electricity bills will be extended to July, taking £50 off the annual price cap. Households in council tax bands A-D will also receive a £100 household energy payment (around 20 million households).

- The national living wage for those aged 21 and over has been increased by almost 4% to £13.20 an hour, from £12.71. The minimum wage, which applies to those aged 18 to 21, rose to £11.27, from £10.85.

- The full state pension will rise by 3.9%, taking it to £13,036 from April.

- Cash ISA allowance will now stay at £20,000 as the planned cut to £12,000 is dropped.

- Savings and property income tax is to rise to 24%, 44% and 49% from April 2027 (depending on the income tax band that an individual falls into).

- A new Pension Tax Allowance is to start in April 2027 to combat the number of people paying income tax on the £13,036 State Pension.

- The bank corporation tax surcharge rises from 3% to 6% for 15 months.

- A First Time Buyer ISA is planned for April 2029 (replacing the Lifetime ISA for new savers) allowing contributions of up to £4,000 a year, with a 25% Government bonus paid on the value of the account when funds are withdrawn for a qualifying first home purchase.

And that was that. It is not honest politics nor honest economics. John Healey got his can and gave it an almighty kick down the road until after the next General Election. I wonder if Labour have the cajónes to call an early election?

Economic number of the month…..

Inflation reached 3.5%, the highest level for 11 months.

Banking number of the month…..

The banking sector has contributed almost £48 billion in taxes to the Treasury this year (a record).

Government spending number of the month……

The big four accountancy firms (Deloitte, EY, KPMG and PwC) have won £1.5 billion of public sector contracts so far in 2026, the second highest since records began.

Favourite number of the month……1-2-1……the netball aspiring little lady having 60 minutes with her hero!

Trump of the Month

Given the usual mix of head-shaking buffoonery by the ‘orange one’ across the water, this month’s winner of the Trump of the Month award is a commendable performance. Congratulations……

Zack Polanski.

The Green Party leader had an exceptionally turbulent October due to two separate political stories colliding at the same time.

Firstly, he made a high stakes gamble by standing in the Holborn & St Pancras by-election, triggered by the resignation of former PM Keir Starmer. The issue was not finishing second in the by-election……Polanski was too focused on the by-election campaign instead of the Green Party conference…… which was debating a highly controversial motion declaring Zionism a form of racism.

Now, for absolute clarity…… not all Jews are Zionists and not all Zionists are Jewish. But because the Israeli-Palestinian conflict is deeply intertwined with Zionism, the Green Party in their wisdom thought that this was the hot topic to be debating and voting on. Why not just stick to the apples you know……like saving the planet.

What an absolute mess. Zack Polanski spent October like a man who left a kitchen fire to go and buy a smoke alarm.

He actually did pretty well in the high-profile by-election……only to look over his shoulder and discover that the biggest story involving his party was happening back at the conference he'd effectively left unattended.      

Polanski strode confidently into the by-election to show that the Green Party was ready for the big leagues. Unfortunately, while he was knocking on doors in Holborn, his party conference was busy manufacturing enough headlines to keep political journalists fed through winter.

 The result was a political misfortune right out of The Trump playbook……doing something reasonably well, whilst creating a storm that everyone talks about instead.

Trump Lunacy Rating: 10 / 10

And Finally……

“"All political lives, unless they are cut off in midstream at a happy juncture, end in failure."

Enoch Powell

The Month That Was……September 2026

So that’s it. School’s back. The weather has guided us in to Autumn. Christmas merch is in the shops. All this does is remind me that my summer holiday has been discarded to the memory bank with hours of chuntering material.

What was described as a “luxury” hotel, was simply a cathedral of mild suffering. The list of gripes was endless……

3 coats hangers for my two female travellers doesn’t cover a day’s clothes let alone the rest of the trip. And who thought we looked like worthy hanger thieves and attached them to the rail so we couldn’t pinch them? Also note that the hanging space is designed for crop tops only. Ladies please fold your dresses 7 times over the hanger as the drop is insufficient and your husband can’t handle 10 days of female fury.

A hairdryer was provided for our convenience. However, the distance between the mirror and the nearest plug socket is precisely 47.5cm longer than the hairdryer flex……but if you unplug the kettle and plug the hairdryer in there instead, you can use the shiny kettle lid as a mirror! “Convenience” is doing a lot of heavy lifting here.

And there are two tea bags, two coffee pods and two miniature milk pods (both of which will be used with your first drink). And both coffee pods are decaf. And they were replaced once every week or so. In the meantime, I enjoyed the hot chocolate sachets with an expiry date of 1998.

To ensure a great sleep, “blackout” curtains come as standard……but they don’t meet in the middle and they are completely useless. The luxury double bed is simply two singles pushed together……drifting apart during the night like a doomed relationship trying to avoid intimacy.

Towels will be changed daily for your fresh convenience. For reference, you will not receive the correct amount of towels each day and your husband will chunter throughout the holiday with various members of the front desk, concierge, housekeeping, bar staff, waiters and any guest prepared to offer any sympathy.

The air‑con (sounding like a tractor) comes as standard with two settings……Arctic death or Satan’s sauna.

The shower will resemble a drizzle or a fire hose. Choose between light drizzle or a pressure washer for buses. And don’t get me started on the complimentary shampoo & conditioner screwed to the wall with a pump that doesn’t work or the luxury soap the size of an extra-strong mint.  

Signs are erected every 3 metres to politely remind customers not to reserve beds……which was completely unpoliced except that one day I did reserve. I then ended up in the shade next to Brenda from South Shields on a video call to Sandra back home……ALL DAY!  

The heat you begged for during the winter is immediately called “unreasonable”……mainly because “the sun is different here.” Which can be added to “it’s 34 degrees and that’s ridiculous.” “My knees are sweating and that’s not normal.” “I’m melting. I’m actually melting.”

Then there is the local food. The traditional “delicacy” tastes weird. Sandwiches are architectural structures that are so complicated they require planning permission. “Authentic” dishes require a suspicious prod before declaring “it’s not like back home.”

And then if you are really lucky, you can choose the optional excursion offering optional regret. Choose from a boat trip where you spend 3 hours pretending not to be seasick, a traditional market where you will buy something you don’t need and lose something you do or a cultural tour you booked to feel “clever” but will skip because it’s too hot.

All of this is followed by the return to Blighty. Grey skies greet you like a disappointed parent, followed by rain within 12 minutes. All to be rounded off with the classic line……“I need another holiday to recover from that holiday” as if you’ve survived a military deployment.

Ah yes, a summer of disappointment and regret to chunter about throughout the winter months.

Can’t wait for next summer already.

The Numbers

The Budget on 28^th October is now the only talk in town. The backdrop looks scary, even allowing for the build up to Halloween.

UK Government borrowing costs hit their highest level since the financial crisis of 2007, rising to 5.40%. The sustained rise in the UK’s borrowing costs is piling pressure on the Government’s finances in the run-up to the Budget. The ten-year gilt yield stood at 4.9% when Andy Burnham took office in July, with every 1% rise in the yield equating to a £12 billion cost to the Exchequer.

Add to this the current rising level of inflation, currently standing at 3.1%. Little surprise that the Bank of England has warned that the current 3.75% base rate is likely to rise soon.  

Inflation will only rise as a consequence of all the knock on effects from the conflict in the Middle East. Diesel hit an all‑time record high this month of 199.18p per litre and energy bills are forecast to rise by as much as 26% in January. This is on top of the Ofgem price cap increase of 4% announced for October. Wholesale gas prices climbed above 208p a therm, the highest level since December 2022 and around a 98% increase from late June. Oil price increased to $103 a barrel……a significant increase from pre-conflict price of $60 a barrel in January.

It’s an inherited mess that Team Burham needs to address……but with little in the way of logical solutions.

Housing numbers of the month…..

Planning approvals for new homes have plunged to a 13-year low in a blow to Labour’s promise to oversee a housebuilding revolution. Just 214,515 homes received planning permission over the last 12 months, representing just 58% of the 370,000 homes a year identified in the Government’s National Planning Policy Framework as the level of permissions needed to support its target of delivering 300,000 net additional homes a year.

State Pension numbers of the month…..

The triple lock guarantees offered to the State Pension will see a 3.9% increase in April 2027 (£488). This will take the annual payment above £13,000 for the first time and above the £12,570 tax-free personal allowance. Millions will now pay income tax on their State Pension.

Savings numbers of the month……

New figures show the worrying amount of cash that is earning paltry interest and not keeping pace with the rising cost of living. Savers have left almost £1.2 trillion languishing in bank accounts that pay an average of little over 1%. Of this, £305 billion was earning 0%.

You’d laugh if it wasn’t true number of the month……

The cost to consumers of paying wind farms to switch off when Britain’s electricity grid can’t cope has now exceeded £1 billion this year and is on track for an annual record.

Political number of the month……

Removing a migrant back to France under the ‘one in, one out deal’ costs the Government £56,000 per person.

Favourite number of the month……Year 8.

Trump of the Month

In any month Farage would have got the attention he deserved. Undercover recordings show Nigel Farage’s advisers secretly plotting for a foreign donor to pay for off-the-books polling on behalf of the party (in a potential breach of electoral law), with Farage sitting next to them.

However, when questioned on the BBC he stated he wasn’t aware of anything as “I frankly wasn’t even listening.” Strange then that Farage later met with the representatives of the donor and told them the polling was “amazing” and provided “bang for buck”, adding: “It worked. Boom.” Yea, good one.

Admirable as his efforts were, Farage must step aside. For the fifth time this year, the Trump of the Month award goes to……Donald John Trump.

I have to admit that I sometimes get a little punch drunk by the amount of buffoonery offered up by The Trump. It is easy to brush off the latest gaff as just another act of lunacy that no longer surprises. It’s just Trump being Trump. But we really shouldn’t ignore what is going on under our noses.

September started with his decision to sign an order to rename Lake Ontario to Lake America because trade (bullying) talks broke down. And to ensure it didn’t pick a fight it didn’t want, Apple then changed the name on it’s mapping system in an act of support. So after 385 years, The Trump changed geographical history because……he could.

The Trump then signed an order that American children should not receive the MMR vaccine as a single jab as he promoted the debunked theory that it causes autism. The Trump’s executive order on childhood vaccines is part of a wider campaign from Republicans to discredit the medical establishment who are now releasing information on how incompetent The Trump was during Covid.

Struggling in the popularity polls moving towards the mid-term elections in November, The Trump vowed to give every adult $5,000 if he wins mid-terms. AKA I’ll buy your votes. He forgot to give any details on the small print, which was quite convenient given that it would amount to $1.35 trillion.

The Trump then visited Ireland and walked head first into a political and historical minefield with all the subtlety of a foghorn at a yoga retreat. “I’d love to see it (Ireland) unified. It’s going to happen, it may as well happen now.” You can imagine the response from both sides of the border.

He then picked another fight with The Fed as he demanded that interest rates in the US should be lowered to 1% (they are over 3.5% currently), with no economic or inflation argument considered. With inflation running way above target, The Fed rightly increased interest rates by 0.25%. Presumably, The Trump has “Economics For Dummies” on his Christmas wish list.

And then the cherry on the cake……he banned some news outlets from his press conferences (with the ‘acceptable’ ones then boycotting in support of peers). “There’s something sick about a country that allows people to write negative stories”.

Sick you say? The U.S. Constitution protects freedom of speech in the First Amendment, which says the Government cannot make laws that abridge (limit or reduce) your ability to express ideas.

Or to put that another way, the First Amendment needs changing to only permit agreement with The Trump.

At a time when he needs all forms of press to be on his side leading up to the mid-terms, it appears he hasn’t grasped the basic concept of freedom of speech or positive influence.

I mean, if you were The Trump you could ban the press……or maybe you could just try doing Presidenting better. You know, give the press something positive to work with.

I fear that dictating your opinion on all might just lead to more embarrassment at the hands of those you show contempt for……the voters. Time will tell.

He’s nothing but consistent!

Trump Lunacy Rating: 10 / 10

And Finally……

“It is a paradox that every dictator has climbed to power on the ladder of free speech. Immediately on attaining power, each dictator has suppressed all free speech except his own.”

Herbert Hoover

The Month That Was……August 2026

August managed to plug the humour hole left by holidaying politicians by hosting the Edinburgh Fringe Festival. 2026’s version offered excellent fayre……

“My therapist says I’m very judgemental, but what does he know? He lives in a house boat.” (Spring Day)

“My paper manufacturing business has folded seven times so I’m pretty sure it can’t happen again.” (Olaf Falafel)

“When I’m making lemon drizzle cakes for my good friend Tina Turner, I never use citrus juices, only the grated skin. It’s Simply The Zest.” (Katie Pritchard)

“I miss Jamie’s Italian. I miss walking past it and going, No he isn’t.” (John-Luke Roberts)

“I spent all day writing a joke about margarine and I can’t believe it’s not better.” (Alex Kitson)

“I steal my Latin lover’s shoes. I carpe his DMs.” (Amelia Hamilton)

“I thought a crop top was just a shirt you wear to bring in the harvest.” (Hudson Hughes)

“That’s the thing about American shopping centres, you’ve seen one, you’ve seen the mall.” (Steffan Alun)

“My dad’s sister was an Italian chef – we had lots of nicknames for her growing up. Aunty Pasti. And that’s just for starters.” (Bróccán Tyzack-Carlin)

My particular favourite……

“My brother convinced me to go halves on a used funeral car. I can’t believe I was so easily co-hearsed.” (Fil Milton)

And this year’s official winner of the Joke of the Year……

“I remember thinking, as I taped a piranha to my boomerang, this could come back to bite me.” — (Olaf Falafel)

Edinburgh offered another bumper year!

The Numbers

The rumour mill is in full swing now that the date for the Budget has been set for 28^th October.

The background for Andy Burnham looks quite stark. In the 24 months since Labour came to power, we've seen……

- Employer National Insurance increased from 13.8% to 15%.

- The employer NI threshold cut from £9,100 to £5,000.

- Income Tax and National Insurance thresholds frozen until 2031.

- Capital Gains Tax increased from 10% and 20% to 18% and 24%.

- Business Asset Disposal Relief increased from 10% to 14% and then 18%.

- Investors’ Relief increased and its lifetime allowance cut from £10 million to £1 million.

- Carried interest taxation increased and moved towards the Income Tax regime.

- Dividend tax rates increased by 2%.

- Savings-income tax rates increased by 2%.

- Property-income tax rates increased by 2%.

- Most unused pension funds brought into the Inheritance Tax net.

- Agricultural Property Relief restricted.

- Business Property Relief restricted.

- Inheritance Tax thresholds frozen for longer.

- VAT imposed on private school fees.

- Business-rates relief removed from private schools.

- Stamp Duty increased on second homes and buy-to-let properties.

- The Furnished Holiday Lettings tax regime abolished.

- Pension salary-sacrifice benefits capped at £2,000 before National Insurance applies.

- The Cash ISA allowance cut to £12,000 for most under-65s.

- A 22% charge introduced on interest from cash held inside non-cash ISAs.

- The Energy Profits Levy increased and extended.

- Investment allowances for oil and gas producers reduced.

- A new Vaping Products Duty introduced.

- Tobacco duties increased above inflation.

- Vehicle Excise Duty increased for many new cars.

- Electric vehicles brought into the Vehicle Excise Duty system.

- A new mileage tax announced for electric and plug-in hybrid cars.

- Air Passenger Duty increased.

- Climate Change Levy rates increased.

- Plastic Packaging Tax increased.

- A new Carbon Border Adjustment Mechanism introduced.

Together they represent probably the biggest transfers of wealth from households and businesses to the Treasury in history……yet with no noticeable improvement in public services.

Regardless of your position in adult life, the simple maths of 2 years of Labour now means that……

You keep less of what you earn.

You keep less of what you invest.

You leave less to your family.

So, what next for Andy Burnham? The continued ‘death by a thousand cuts tax policy’ or a new direction. We’ll soon find out……but the general opinion seems to indicate that a further £25 billion of tax rises will be required to fund election pledges. Just the preceding 2 months of rumours to endure first!

Elsewhere…….

Climate change warning number of the month……

The hottest day in the UK was recorded as temperatures hit 38.1C, beating the previous high (38C).

Housing shortage crises number of the month……

The number of new developments obtaining planning permission has sunk to a 20-year low (equating to a green light for only 54,000 new homes). When Labour swept to power in 2024 it promised to build 1.5 million homes in England over the course of the 5 year parliament. How’s that working out?

You’d laugh if it wasn’t true number of the month……

Electricity users are paying around £100 million a year in extra costs to operate Britain’s national grid safely because hundreds of power installations have their meters fitted backwards (source: National Energy System Operator).

Astonishing MP earnings number of the month……

In the 2 years up to the Clacton by-election, Nigel Farage made almost £1.3 million in paid work, making him parliament’s highest earning MP (behind only the former prime minister Rishi Sunak who has made more than £2.4 million from work including advisory roles at Goldman Sachs, Microsoft and Anthropic……all donated to charity)

Crypto number of the month……

The UK has 240 crypto millionaires as revealed in official HMRC tax data. There could be more…… HMRC has sent warning letters to 81,000 cryptoasset investors that it thinks might have underpaid taxes.

Baked pastry goods number of the month……

The annual accounts released this month, Greggs sold 300 million sausage rolls last year across 2,750 shops.

Favourite number of the month……4 miles paddled!

Trump of the Month

It might be the holiday season for many, but there has been no shortage of buffoonery kicking about.

They are all worthy candidates as their high levels of craziness deserve to be recognised for such lunatic performance. I keep changing my mind on the Trump of the Month winner……so I’ll let you decide. (answers on a postcard to the usual address)

The farce that was the Clacton by-election was……well……a farce. Such was the extent of the stupidity that was caused by his resignation, Nigel Farage didn’t even turn up to hear the results of his re-election given that his main rival was Count Binface. Making a mockery of the political system to delay investigations into financial arrangements……now where have I seen that before? Total and utter madness.

Mark Zuckerberg’s company, Meta, which controls Facebook, Instagram, WhatsApp has been sued by 29 states in a lawsuit that accused the tech giant of creating products that harmed children’s mental health and deliberately designed the apps to be addictive. The result? Meta agreeing to pay an $18 billion fine. Which begs the question……exactly how much did the company make from such harmful apps? Crazy on every level.

Angela Rayner is a prominent advocate of Labour’s net zero agenda and consistently criticised Tories over the years for failing to take on energy giants. She was one of the cheerleaders for repeatedly blocking North Sea drilling. However, it was declared this month that it seems her opposition isn’t strong enough to stop her from taking a £20,000 donation from an oil adviser. Political hypocrisy at its best.

In a public report this month, John Swinney, Scotland’s first minister, spent close to £100,000 of public funds on business-class flights, hotels and expenses for him and senior officials on business and trade talks in the US. All good, except the dates and locations of the talks also coincided with Scotland playing in the World Cup. Oh come on, did you really think you would get away with this one? Lunacy.

And not to be forgotten, Donald Trump has been at it (as usual). The Trump has launched a new subscription service where POTUS will offer early access to his social media posts before they are made public. The service is controversial because it gives traders access to market-moving posts from The Trump before others (aka insider dealing!). Then add in the conflict of interest and a vehicle for The Trump to profit from his role. Who’d have thought it!

And Finally……

"One person’s craziness is another person’s reality."

Tim Burton

July 2026 will be remembered as a month that loosened a few screws and pretended not to hear the rattling.

History will remember the month that Labour looked at the political merry-go-round and said, "You know what this needs? Another spin."

Keir Rodney Starmer departed as PM……and a non-MP went through a quick political jiggery-pokery to be shoehorned in.

Andy Burnham suggested new tax powers and policies……and half the country reacted like he’d proposed replacing the NHS with a giant bouncy castle.

The Trump redefined the meaning of “ceasefire” by consistently bombing Iran because it was all going swimmingly and to plan. The ceasefire has seen the Strait of Hormuz designated a warzone and has transformed it from a shipping lane into a maritime obstacle course.

Russia launched yet another massive strike on Kyiv……with the UK media covering it with the same intensity they usually reserve for a hosepipe ban at this time of year.

Half of England celebrated goals by silently raising an arm in front of a TV that was on volume level 2 so not to wake family members whilst watching England in the World Cup in the middle of the night.

The other half of England entered the annual Wimbledon tradition of believing this is definitely our year……when a young Brit (although he’s as much French as English to be fair) overachieved to reach the semi-final.  

The UK had another heatwave with temperatures reaching that of ‘continental Europe’……while British homes reached ‘slow-cooked casserole’ status.

Schools broke up for summer. Teachers celebrated six weeks of peace. Parents celebrated by googling “September term start dates”.

We celebrated National Ice Cream Day by queuing for 45 minutes for a 99 Flake and then complaining for 2 hours that the flake isn’t what it used to be.

And it was a month of 25 years of marriage being celebrated by my wife……one lucky lady. Quarter of a century married……you don’t need vows……you need medals.

July 2026 was quite a month on reflection.

 

The Numbers

The numbers were dominated by the UK’s political merry-go-round. Starmer made way for Andy Burnham, saying “I wish him every success, he has my full support”, which was just possible to hear through the noise of gritted teeth.

Andy Burnham is PM number 5 in just 4 years and he announced a 10 year plan for the UK. Very ambitious as he’ll do well to see month 10 let alone year 10.

He immediately set about appointing his cabinet……27 appointments in total with the most significant of all being John Healey as Chancellor.

It was only 6 weeks ago that Healey (then Defence Secretary) wrote in his resignation letter to Starmer that "I am certain that a headmark date for 3% of GDP on defence in 2030 is what Britain must set." Now it is his job as Chancellor to make those numbers add up.

So many Labour ministers left Government……but we were told not to worry as there was a huge array of talent waiting to replace them. Apparently.

15 new additions to the cabinet.

12 members of Starmer's cabinet retained, with 7 staying in the same post.

3 new positions that will attend cabinet……AI Minister, Intergovernmental Relations Minister and Housing Minister.

The press were keen to point out that the array of talent and appointments included……

- A new Housing Secretary who “resigned” in disgrace from the same job because she couldn’t even pay the correct stamp duty on house number 2…..but was then cleared when she paid up.

 - A previously sacked convicted fraudster who will be in charge of ethics in the Cabinet Office.

- A Business Secretary that had to apologise to parliament over misleading CV statements.

- A Chancellor who couldn’t count how many frigates we had in our fleet when he was defence secretary

- A Defence Secretary with no military experience (despite multiple ex-servicemen available)

Burnham then made his first phone calls as PM……

1 Donald Trump

2 Volodymyr Zelenskyy

3 Ursula von der Leyen

4 Emmanuel Macron

5 Mark Rutte

6 Friedrich Merz

7 Antonio Costa

Interesting, yet no surprise, that The Trump was the first call……he is the President of the World after all.

Burnham then unveiled a VAT cut on household electricity bills from October, worth around £45 a year for a typical household, plus a £2 bus fare cap in England from January. It might not be a game changer but the messaging is very different than Starmer’s first action as PM (removing the £300 winter fuel payment for the most vulnerable).

However, the big headlines came from comments that Andy Burnham wants to unfreeze the tax-free personal allowance. But can he afford to?

The personal allowance has been frozen at its current level of £12,570 since April 2021 and will remain there until 2031 at least. If it had never been frozen and risen in line with inflation, it would be worth about £16,072.

Raising the allowance by £100 costs the Treasury roughly £1 billion a year. If Burnham were to increase it to £16,072, it would cost around £35 billion.

There is no denying that the policy would be popular among millions of individuals (AKA voters) but where is that level of cash coming from? One of the many riddles that need resolving at the next Budget!

Inflation in the UK fell to its lowest level in more than a year after a reduction in global oil prices after the US and Iran’s (very) tentative ceasefire agreement. Inflation fell to 2.6% from 2.8% the previous month……the lowest inflation reading since March 2025.

Government borrowing came in slightly below official forecasts last month, offering early respite for Andy Burnham and John Healey. The Government borrowed £16 billion, down from £23.3 billion the previous month. It was also £4.7 billion lower than the £20.7 billion in the same month last year.

The borrowing bill was pushed down by growing tax receipts and lower-than-forecast spending on inflation-linked bonds.

The Government collected more Income Tax, VAT, National Insurance and Corporation Tax last month, pushing up total tax receipts to £91.6 billion from £85.4 billion in the same month last year.

Before we all get excited about the public coffers looking super rosy, it is worth noting that Government borrowing has still overshot forecasts and is running at £2.7 billion more than forecast.

The Trump number of the month (#1)……

The US hit Canada with 50% tariffs after wildfire smoke from Canada reached the US. The Trump said the US had been “invaded” by dirty air and that the “cost of this pollution must be added ⁠to the TARIFFS Canada is currently paying”. Interesting that his response to the human suffering and devastation was to make money rather than help. Quelle surprise.

The Trump number of the month (#2)……

His media company plans to sell high-speed early access to the US President’s social media posts to trading firms for a monthly fee of $100,000. Or to put that another way……you can buy my decisions before it gets to the mainstream media so that I can further monetise being POTUS. I think we are now bordering on the redefinition of ‘insider trader’!

HMRC number of the month……

The top 10% of earners in the UK are now paying 60% of the UK’s total Income Tax receipts (to be in the top 10%, workers must earn over £72,500).

Departing Starmer number of the month……

Starmer has overseen more than £1.5 million in taxpayer-funded payouts to remove senior civil servants from their posts in his 2 years as Prime Minister.

Favourite number of the month……Year 7 done!

Trump of the Month

Whilst there were a few notable contributions to the art of lunacy, nothing came close to Nigel Paul Farage and he is a very worthy winner of the July 2026 Trump of the Month award.

Nothing has created such a conundrum for me than Nige’s rise to prominence over the last 12 months.

He is clearly smart enough to make headlines……but perhaps not always clever enough to avoid becoming one. He’s not thick……more selectively intelligent. Like a fox that keeps getting caught because it enjoys the chase. It’s the kind of intelligence that thrives on chaos rather than calculus.

Which makes Nige’s announcement that he is resigning as MP for Clacton……only to stand in the resultant by-election it creates……look utterly crazy. It’s madness right out of The Trump’s playbook.

Then you scratch a little deeper and you realise that if Nige is no longer an MP it will pause the two investigations by the Parliamentary Standards Commissioner into undeclared benefits.

The first is a £5 million gift from Christopher Harborne (a cryptocurrency billionaire), which Nige insists he is entitled to spend as he sees fit. The second investigates benefits in kind, including security, accommodation and staff from George Cottrell (a convicted fraudster).

So, the resignation takes the heat off the investigations and the headlines stop……for now.

What Nige failed to factor in (1)……is that most of Westminster have seen through the stunt, with no other major political party entering a candidate to run against him (his biggest rival for re-election is Count Binface).

Badenoch summed up the situation perfectly when saying that Nige was having a “hissy fit”, described the by-election as a “fake” contest and accused him of “running away from scrutiny”. Sensible words for once from the leader of the opposition.

What Nige failed to factor in (2)……both investigations will resume if Nige wins the Clacton by-election. If the commissioner finds against him, Nige would then face another by-election.

You really couldn’t make it up. It is total and utter madness……that I have no doubt a certain Orange One over the water would be envious of.

Trump Lunacy Rating: 10 / 10

And Finally……

“"Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity."

Martin Luther King Junior

The Month That Was......June 2026

June 2026 will always be remembered for the toppling of Keir Rodney Starmer as Prime Minister.

On the one hand……

Keir didn’t dodge Cobra meetings to sort out a divorce or child support commitments, prorogue Parliament, call a stupid and costly referendum, crash the economy, mess up international relations, spend £900 million herding Covid-riddled people into restaurants to eat subsidised smashed avocado or be persistently, bafflingly and mind-blowingly weird.

But on the other hand……

History is likely to record Keir as the worst Prime Minister in modern history. Bafflingly uncharismatic, pernickety, dithery, downbeat, simply appalling at PR, easily panicked into disastrous un-Labour positions and the lover of a U-turn. Keir surrendered to the politics he failed to change.

Baffling until the end, Keir’s resignation speech made sure the transition was as orderly as possible, swore to support whoever succeeded him and then walked back into No 10 with the air of someone who would immediately start cleaning the kitchen cupboards and hoovering out his sourdough crumbs from the bread bin to prepare for the new incumbent.

Britain founded the office of Prime Minister 300 years ago, with some 70 countries admiring it so much they modelled their own heads of Government on it. I’m not sure that would be the case today. 

And what of the new incumbent? Well, it seems like Labour is lining its ducks up for an Andy Burnham coronation this summer. Everyone at Labour seems to be jolly happy with the situation……Keir is gone and they believe they have found a far better option to leave our future in the hands of a man who sorted the buses out in Manchester and who hasn't been an MP for 9 years.

That really is where we’ve reached.

Extraordinary stuff.

The Numbers

It’s official, we’ve had the hottest June day ever in the UK at 37.3C. The 1976 record has fallen. People had 50 years to evolve and adapt……instead we played computer games. I assume Starmer or Brexit can’t be blamed for this?

However, the weather was a side show for the UK’s main event……the Makerfield By-election to shuffle Andrew Murray Burnham into Parliament.

For the record, Burnham received 55% of the vote (24,927) beating the 34% Reform received (15,696). Nigel Farage blamed his party's defeat on a desire among voters to eject Sir Keir Starmer from Downing Street……and for the first time ever, I agree with him.

June 2026 was also the Brexit referendum anniversary……10 years since we broke up with the EU in the most British breakup ever. No shouting, no plates thrown……just a nation quietly muttering,

“It’s not you, it’s… well actually it is you, but also it’s us, and honestly we’re not sure anymore.”

Brexit felt like a pub quiz where half the team didn’t know the rules and the other half didn’t care…..yet someone still shouted the wrong answer with absolute confidence.

Assuming Andy Burnham does move into Number 10, he will become our 7^th PM since the Brexit vote and the 5^th one of them who didn’t vote for it. Yet it is a riddle that still needs a solution.

The latest post-Brexit report this month on the UK economy’s overall share of goods exports fell by 20% between 2019 and 2024, meaning British exporters have lost out on £74 billion of trade, the sharpest decline among the G7 group of large economies. You see, it is Brexit rather than higher energy prices or competition from cheap Chinese exports that has been the main driver of trade weakness.

The other big talking point this month was the ceasefire agreement between US and Iran. Time will tell how fragile this political shake of hands is but the oil markets very much like it. Crude Oil fell to $73 a barrel, quite the fall from the February peak of $120.

The Bank of England’s Monetary Policy Committee voted 7–2 to hold the bank rate at 3.75% in the belief that the improving situation in the Middle East might not impact inflation as much as first feared. UK inflation held steady at 2.8%.

The European Central Bank did raise interest rates for the first time in 3 years from 2.0% to 2.25% in an attempt to tame inflation in the eurozone driven up by the US Iran war. 

Head scratching number of the month……

Elon Musk become the world’s first trillionaire ($1,000,000,000,000) with shares in SpaceX initial listing on the New York Stock Exchange. SpaceX raised $75 billion in a record-breaking initial public offering, which values the satellite, rockets and artificial intelligence company at $1.77 trillion.

Rolls eyes at Rachel Reeves number of the month……

Labour’s mansion tax is expected to cost the Treasury significantly before a penny is raised. Treasury officials estimate that stamp duty and inheritance tax receipts will slump by £230 million in the three years up to its introduction as property values near the thresholds for the new tax plummet. Then add in the process of identifying and valuing homes liable for the tax is set to cost a further £120 million. And if all goes to form, Rachel Reeves will be long gone before a penny in mansion tax is received.

World Cup Numbers of the month……

The 23^rd edition of the Fifa tournament is certainly the biggest with a record 48 countries competing for the cup. 104 matches will be played across 39 days.

Royal numbers of the month……

King Charles became the first monarch to reveal their tax bill, disclosing figures that show he paid £12.9 million in tax for 2024-2025. The level of tax paid by the King places him among the top 100 UK taxpayers.

Favourite number of the month……

2……netball tournaments played in (for clarity, that was my daughter playing, not me).

Trump of the Month

Sometimes The Trump gives us the gift of a huge landmark statement or hard to believe actions that only he could fathom being logical. Other times, it is the subtle lunacy that we take for granted each month that doesn’t attract the headlines but confirms his art at a world class level.    

Take his statement after the ceasefire with Iran. "I've settled eight wars, actually nine, and now it looks like we could have 10."  Yet nobody actually knows any of the wars he’s stopped other than the one with Iran, which he started.

Speaking of Iran, The Trump admitted why he backed down to agree a ceasefire. "If I keep bombing them, the ships remain blocked. That costs $500-600 million per day. And in 4 weeks we won't have any reserves of oil left. We wouldn't have any oil. Do you want to see chaos?"

So in the end, The Trump went right up to the edge of the cliff to discover that the global economy doesn't like wars that block oil and maritime trade. Wow……what a revelation!

The Trump hit out at critics of the deal he struck with Iran as “either jealous, bad people or stupid.” The US Iran peace deal creates a $300 billion reconstruction fund……yet The Trump has stated that the US won’t contribute anything towards it. So where will his madness create it from?

The Trump then confirmed Keir Starmer’s resignation……the day before his lectern announcement. A cheap, tacky move, lacking all class just because he could.

The Trump then told us……"Qatar is the closest to Iran, physically. With other countries, I noticed they had to travel about 45 minutes to get there. With Qatar, you could walk right across the border."

For the geographical record, there is no land border between Iran and Qatar. They're separated by the Persian Gulf. I mean I'm not a stickler for high standards of geography in world leaders but I think knowing the basics in an area where you are putting millions of lives at risk should kind of be a requirement? Just a thought.

US inflation rose to a 3 year high of 4.2% in June, more than double the country’s target rate. When questioned on it, The Trump declared “I love the inflation.”

Really? The rising cost of living is a political liability for The Trump which is likely to see him lose control of Congress in the midterm elections in November. The Trump won the 2024 Presidential Election in large part because of his promise to lower inflation but he has seen his approval rating fall as inflation has risen. And he loves that? Clearly his understanding of inflation differs from everyone else’s.

Subtle buffoonery that you just can’t find anywhere else. The consistency is almost admirable.

The June 2026 Trump of The Month is deservedly awarded to…… Donald John Trump.

Trump Lunacy Rating: 10 / 10

And Finally……

“Never argue with an idiot. They will drag you down to their level and beat you with experience.” 

Mark Twain