Welfare vs Warfare: Can Labour Afford NATO’s Demands?

With just days to go before Rachel Reeves delivers her first Spending Review, Labour is facing an uncomfortable squeeze. NATO wants defence spending ramped up to 3.5% of GDP, but Reeves is sticking to her strict fiscal rules. Can Starmer keep both Washington and voters at home on side - or will the sums simply stop adding up?

Meanwhile, Donald Trump is reigniting the trade war - with a 25% steel tariff sending markets wobbling. The UK may have a temporary exemption, but there are warning signs everywhere: surging bond yields, a weakening pound, and talk of a “crack” in the market from Wall Street’s biggest voices. What does it all mean for the UK - and could global turbulence derail Labour’s investment plans before they’ve begun?

And Boris Johnson’s back in the headlines. Could he really be planning a political comeback? With Reform UK on the rise and Conservative nerves showing, some see him as a vote-winner. But under Kemi Badenoch’s leadership, would his return solve more problems than it creates?

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