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Entertainment May 15, 2026

Critique of Rene Matić's Photography Prize Win Sparks Debate About Artistic Merit

A critical review of Rene Matić's exhibition at The Photographers' Gallery questions whether the yo…
The Artist's Background and Achievements At 29, Rene Matić is the youngest ever person to win the £30,000 Deutsche Börse Photography Foundation prize. They were nominated for their solo exhibition As Opposed to the Truth at CCA Berlin – there is currently a much smaller reconfiguration representing part of the show at the Photographers' Gallery in London. Matić was also the youngest artist ever to be nominated for the Turner prize last year. Notable Works and Artistic Approach There are things I like about Matić. I like the way they challenge what counts in life and art, and what counts as British. Their 2022 work, Upon This Rock – a photographic installation and a film exploring the artist's father, Paul, and his involvement with the skinhead movement – felt like it was breaking new ground, conceptually and materially. Matić's yearning to understand masculinity and fatherhood as forces shaping national identity, and the way they incorporate new stories into the folds of Britain's historical fabric, felt original and exciting. Prize Recognition and Its Significance The Deutsche Börse Photography Foundation prize is one of the most prestigious awards in contemporary photography, carrying a £30,000 prize. Matić's win at such a young age marks a significant moment in the art world, particularly as they identify as a queer, working-class person of colour. The fact someone from this background won this award is good as a statement for what the Deutsche Börse prize can stand for in terms of diversity and representation. Critical Assessment of Current Exhibition Yet a lot of Matić's other work doesn't feel mature enough for the photographer to have taken the prize so early in their career. The installation Feelings Wheel, a series of diaristic snapshots which is shown at the Photographers' Gallery, feels like something you'd paste on your wall or Tumblr at university. They are pretty mediocre pictures, safe from Instagram censorship, and arranging them in Perspex doesn't make them more interesting. I find there is an annoying insularity, a sense of preaching to the converted, whereas the most effective art builds bridges between artist and viewer, allowing people who aren't part of the gang to understand it and be moved by it, too. Comparisons to Influential Photographers Too often, Matić's images are only made interesting by the different ways they display them in assemblages, spatial and sculptural configurations. Their work draws comparisons with Wolfgang Tillmans or Nan Goldin, who both photographed their own subcultures and communities, but with more edge and verve. With slideshows to music (in the case of Goldin's The Ballad of Sexual Dependency) and multi-format installations responding to the space (Tillmans), both photographers cast aside the traditional focus on a single image, creating new ways of looking at multiple photographs that Matić adapts but doesn't quite move forward. Broader Implications for Contemporary Photography There's nothing wrong with art that focuses on identity – especially identities that have been consistently erased and ignored in this country. But based on what Matić has done for photography, I don't think they should have won. Autobiography can't be the only thing a work has to offer. I am not sure what's really radical or nuanced about Matić's photographs of flags and tattoos, or people kissing at Glastonbury. At times, the vulnerability and compassion seems performative rather than sincere, and there's not enough tension – questions in the work for the viewer to resolve. The Future of Matić's Artistic Development Leaving the exhibition, I felt flat – though there are ideas, they need more time to percolate. What this win seems to tell us about photography now is that how you market yourself is possibly more important than the work you make. Matić clearly has potential, as evidenced by their more conceptual works like Upon This Rock, but the current exhibition suggests they may have been recognized before their artistic voice has fully developed. The challenge for Matić will be to build on the conceptual foundations of their strongest work while developing a more distinctive photographic language that doesn't rely solely on presentation techniques to generate interest.
#Rene Matić #Deutsche Börse Photography Prize #The Photographers' Gallery
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Entertainment May 15, 2026

Swindon’s New Bond-Themed Streets Highlight Britain’s Housing and Pop‑Culture Fusion

A new housing estate in north Swindon has christened its roads after iconic James Bond figures, inc…
The former Motorola factory site in north Swindon is being transformed into Taylor Wimpey’s Robin Gardens estate, where every new road bears the name of a James Bond character or actor – a quirky tribute that has both fans and critics buzzing.Bond Fans Find a Tangible Tribute in Swindon’s Robin GardensThe development’s street‑naming scheme was reported by the BBC and includes Bond Place, Desmond Crescent, Llewelyn Road and the headline‑grabbing Dench Close. The choice reflects the estate’s link to the franchise: the old Motorola plant doubled as a Turkish oil refinery in The World Is Not Enough 25 years ago.Street‑Name Line‑up: From Q to VillainBond Place – a direct nod to the iconic secret agent.Desmond Crescent – honouring Desmond Llewelyn, the long‑standing Q.Llewelyn Road – another tribute to the beloved Q actor.Pierce Brosnan Avenue – referencing the 1990s Bond.Dench Close – named after Dame Judi Dench, the definitive M.Why Swindon Became the Bond Naming HotspotSwindon’s claim to Bond fame is two‑fold: Ian Fleming is buried nearby in Sevenhampton, and the town supplied several on‑screen locations – from the oil‑refinery façade in The World Is Not Enough to the Renault distribution centre used in A View to a Kill. The new estate capitalises on this legacy, offering a slice of cinematic history to future residents.Future of Pop‑Culture‑Driven Housing DevelopmentsRobin Gardens’ enthusiastic reception suggests a template for other developers: identify iconic film locations, then embed that heritage into street names to create a sense of place and marketable novelty. If successful, we may see similar schemes tied to other franchises, turning ordinary estates into themed neighbourhoods and potentially easing the housing crisis through cultural branding.
#James Bond #Swindon #Taylor Wimpey
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Entertainment May 15, 2026

Linda Bassett on Theatre, Career, and New Play 'Care'

Veteran actress Linda Bassett discusses her distinguished career, her long-standing collaboration w…
The LeadRenowned actress Linda Bassett reflects on her distinguished career spanning decades of theatre work, her celebrated collaboration with playwright Caryl Churchill, and her upcoming role in Alexander Zeldin's "Care" at the Young Vic. Known for her understated yet powerful performances, Bassett shares insights into her approach to acting and the profound impact of theatre on her life.The Career JourneyBassett's path to acting wasn't conventional. Despite coming from a non-theatrical family, she discovered her passion at age four when she was unexpectedly thrust into a Sunday school Easter play. "I was in bliss," she recalls. Her formative years included ushering at the Old Vic during Laurence Olivier's legendary tenure, where she witnessed groundbreaking performances and even sold ice creams during intermissions.After briefly studying English at Leeds University, where she focused on drama rather than academics, Bassett began creating devised work in Leeds and Coventry. This experience, she suggests, "made me a bit gobby," developing her confidence to make suggestions as an actor, though she admits she sometimes oversteps when working with certain playwrights.The Churchill ConnectionBassett's most significant artistic relationship has been with playwright Caryl Churchill, beginning with "Fen" in 1983 and continuing through to "What If If Only" in 2021. She describes auditioning for Churchill as "enormous" because it launched her on a particular trajectory. Her disconcerting clarity has made her a peerless interpreter of Churchill's work, which some audiences find forbidding."They're not hard to watch," Bassett protests of Churchill's plays. She recalls her iconic monologue in "Escaped Alone" where the phrase "terrible rage" is repeated 25 times in succession. "It was the only thing to say at that point. The words fed the feeling, and it was the audience who felt it, not me, which is ideal." Churchill's writing, she notes, is "so distilled, no excess baggage," requiring actors to find "the one way" to play them.From Call the Midwife to CareDespite notable film roles including "East Is East" and "Calendar Girls," many audiences know Bassett as stern nurse Phyllis in the BBC's "Call the Midwife." "Complete strangers come up and say, I love you. My wife loves you, my mother loves you. It's extraordinary," she remarks of the public's connection to the character. Despite playing Phyllis for over a decade, she found fresh aspects to explore, learning "how to be" more matter-of-fact and practical than her natural disposition.Currently rehearsing Alexander Zeldin's "Care" at the Young Vic, Bassett plays Joan, a woman who after caring for her family begins showing signs of dementia and needs care herself. "She's convinced, as many people are, that she's just in for respite. She never loses the idea that she's going home," Bassett explains. The role draws from personal experience; after a heart attack, she spent two weeks recuperating in a care home, giving her "an insight into what it's like when you become helpless."The Actor's Philosophy"Every part is an education," Bassett states. "That's the glory of being an actor. You learn about human feelings and frailty and rottenness. The writer puts their soul on the page, and you inhabit that. I've always felt I was a writer's actor." This philosophy has guided her selective approach to roles, resulting in a "remarkably free of crap" CV despite turning down numerous opportunities.Though she hasn't performed as many classics as she might have hoped—"I think I'm seen as a working-class actress"—Bassett values the authenticity she brings to her roles. With Zeldin directing "Care," she appreciates his desire for "absolute truthfulness," which "suits me down to the ground." As she prepares for this new challenge, she acknowledges the nerves: "Every new part you're starting again. It's a bit scary, but I think we'll be all right."The Future of TheatreAs a veteran performer who has witnessed theatre's evolution, Bassett remains committed to the medium's power. She recalls the impact of Ronald Pickup's messenger speech in Peter Brook's production of Seneca's "Oedipus": "People fainted every night. You didn't see anything, his voice was enough. That's the power of theatre, isn't it?"Looking ahead, Bassett continues to seek roles that challenge her and explore the human condition. Whether through her meticulous interpretation of complex playwrights like Churchill or her willingness to portray the vulnerability of aging in "Care," she remains dedicated to the craft that has defined her life. "Every part is an education," she reiterates, and with each new role, Linda Bassett continues to learn, grow, and enrich the theatrical landscape.
#Linda Bassett #Call the Midwife #Caryl Churchill
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Tech May 15, 2026

Clawdmeter Turns Claude Code Usage Stats into a Tiny Desktop Dashboard

An open‑source hardware gadget called the Clawdmeter visualizes Anthropic’s Claude Code token consu…
An open‑source hardware gadget called the Clawdmeter now visualizes Anthropic’s Claude Code token consumption on a small desktop screen, giving AI power users a playful, at‑a‑glance view of their usage. Clawdmeter: A Pixel‑Art Dashboard for Claude Tokens The device was conceived by Reykjavik‑based developer Hermann Haraldsson, who wanted to combine his interest in embedded hardware with the rising need to monitor AI token usage. Built around a Waveshare ESP32‑S3‑Touch‑AMOLED‑2.16 display, the Clawdmeter pairs with a laptop via Bluetooth, reads the Claude Code OAuth token, and pulls usage numbers from API response headers. When powered on, a pixel‑art Clawd sprite dances on the splash screen, accelerating as token consumption rises. Users can cycle through animations, view session and weekly usage charts, and even trigger Claude shortcuts (Space for voice mode, Shift+Tab for mode toggles) directly from the device’s side buttons. GitHub Reception and Early Adoption Metrics 800+ stars on GitHub since the May 10, 2026 launch 50 forks for custom extensions Open‑source repository invites community‑added animations, screens, and features Device runs on a small lithium‑ion battery, making it portable for desk use What the Clawdmeter Signals for AI Tool Adoption The project underscores two broader trends. First, the “tokenmaxxing” mindset—where engineers track the volume of AI tokens consumed as a badge of AI integration—is gaining traction across tech firms. Second, tools like Claude are becoming accessible enough that developers can leverage them to prototype hardware projects, effectively democratizing embedded development. As Haraldsson noted, Claude’s conversational guidance helped him complete the device in just a few days, blurring the line between software and hardware creation. Future Directions for Desktop AI Dashboards Given the enthusiastic community response, several pathways are likely. Open‑source contributors may add multi‑AI support (e.g., OpenAI, Google Gemini), richer analytics (cost tracking, token efficiency), or even haptic feedback. Commercial variants could emerge, offering premium enclosures or integrated charging. Ultimately, the Clawdmeter exemplifies how niche hardware can turn abstract AI usage data into tangible, motivating feedback—potentially spawning a new class of personal AI monitoring devices.
#Clawdmeter #Claude #Anthropic
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Tech May 14, 2026

Khosla Ventures Backs Ian Crosby's New AI Bookkeeping Venture Despite Bench Collapse

Khosla Ventures has invested $10 million in Synthetic, a new AI bookkeeping startup founded by Ian …
The Controversial Bet on AI BookkeepingDespite the collapse of his previous startup, Ian Crosby is taking another shot at building a business out of automating bookkeeping. His new venture, Synthetic, aims to create a fully autonomous AI bookkeeper that can generate accrual-based financials without direct human involvement.The Vision Behind SyntheticSynthetic is designed to revolutionize bookkeeping by eliminating the need for human accountants, a stark contrast to current accounting startups like Xero. Crosby maintains an all-or-nothing approach: "We're not going to release anything that's not fully autonomous. It's that or bust."The startup is currently in the design phase, with Crosby acknowledging that his vision may not yet be technologically possible. The company plans to initially serve only AI and other software startups.The $10 Million InvestmentDespite the challenges and Crosby's troubled past with Bench Accounting, Synthetic has successfully raised $10 million in a Seed funding round led by Khosla Ventures. The round also saw participation from Basis Set Ventures and Shopify CEO Tobias Lütke.This financial backing provides Crosby with the resources to wait for foundational AI models to become more reliable for bookkeeping calculations. "I've raised years of cash, so we can just wait it out," Crosby stated.Learning from Past FailuresKhosla partner Jon Chu defended the investment by explaining his tendency to "run towards controversy a little bit." He cited Parker Conrad's journey from Zenefits to founding Rippling (now valued at $17 billion) as an example of how industry narratives can be misleading.Chu conducted thorough due diligence, speaking with several executives who worked with Crosby after his departure from Bench. According to Chu, they "had fantastic things to say about Ian." This feedback, combined with Crosby's subsequent roles at Shopify and founding of Teal (which was acquired by Mercury), convinced Khosla of his growth potential.The Bench Accounting FalloutCrosby's previous venture, Bench Accounting, famously shut down in 2024 before being "bought for scraps." Crosby maintains he wasn't directly responsible for bringing the company to insolvency, stating he was fired by Bench's board in 2021 after turning down a $250 million acquisition offer from Brex.The board reportedly disagreed with Crosby's strategic direction as the business was bleeding cash, and his executive team was frustrated with his direct leadership style. "He took a big swing, made a few mistakes. That didn't go well," Chu acknowledged about Crosby's tenure at Bench.The Path to Autonomous AI BookkeepingWhile Synthetic's prototype works for a narrow group of users, Crosby remains uncertain how it will scale for a broader customer base. He compared the current state of AI bookkeeping to "a self-driving car that can drive down one street versus the self-driving car that can drive down any street.""We haven't driven down enough streets to know if it's going to crash," Crosby explained, highlighting the technical challenges ahead. Despite these obstacles, the founder remains committed to his vision of a fully automated financial future.
#Khosla Ventures #Ian Crosby #Synthetic
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Tech May 14, 2026

Cisco Cuts 4,000 Jobs to Accelerate AI and Cybersecurity Investment Amid Record Revenue

Cisco announced a 5% workforce reduction—nearly 4,000 jobs—while reporting record quarterly revenue…
Cisco Announces 5% Workforce Reduction to Fund AI and Cybersecurity PushCisco disclosed it will eliminate fewer than 4,000 jobs, roughly 5% of its global staff, as part of a strategic shift to reshape its cost structure. The move follows a fiscal third‑quarter report that beat profit and revenue expectations, allowing the networking giant to reallocate capital toward artificial intelligence and security solutions.Job cuts: ~4,000 positionsWorkforce impact: ~5% of total employeesFiscal Q3: Record revenue and double‑digit growthCEO: Chuck RobbinsRecord Quarterly Revenue and Profit Beat ExpectationsThe company posted its highest quarterly revenue to date, driven by strong demand for networking hardware and services. Although exact figures were not disclosed in the source, analysts note the earnings beat was significant enough to support the announced investment plan.AI‑Driven Restructuring Signals Broader Tech Layoff TrendCisco joins recent layoff announcements from Cloudflare and General Motors, both of which cited AI spending as a catalyst for workforce reductions despite solid financial results. The pattern suggests that tech firms are prioritizing rapid AI integration over maintaining pre‑pandemic headcounts.What Cisco’s Strategy Means for Future Growth and Market PositionBy channeling savings into AI and cybersecurity, Cisco aims to address persistent vulnerabilities in its routers and firewalls—issues that have exposed corporate and government customers to breaches. The company also plans to enhance employee AI adoption, positioning itself as a leader in AI‑enabled networking solutions.Executive compensation for Robbins is projected to exceed $52 million in 2025, underscoring confidence in the strategic direction despite the workforce cut.Outlook: Balancing Cost Cuts with Innovation InvestmentIf the AI and security initiatives deliver measurable product enhancements, Cisco could sustain its revenue momentum and recapture market share lost to cloud‑native competitors. However, the success of the restructuring will hinge on how quickly the reduced workforce can be redeployed to develop and commercialize AI‑driven offerings.
#Cisco #Chuck Robbins #AI
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Sports May 14, 2026

NSW Survives Nail-Biter to Claim Second Straight Women's State of Origin Series

New South Wales secured the Women's State of Origin shield with a dramatic 14-10 victory over Queen…
The LeadNew South Wales has claimed the Women's State of Origin series for the second consecutive year, surviving a nail-biting 14-10 victory over Queensland in Brisbane. The match was decided in the final minute when Teagan Berry's desperate tackle prevented Queensland's Jasmine Peters from scoring what would have been a game-winning try.The Dramatic FinishThe margin was just a few pixels in the video review bunker, but it was enough for NSW to secure the shield. Peters crossed in the right corner in the final minute, triggering wild celebrations among Queenslanders on the field and in the Suncorp Stadium stands, filled with a healthy crowd of 23,846. However, when the decision was reviewed, Peters' toe was swept over the line in the tackle by a desperate Berry, who had initially appeared beaten. In the end, she was celebrated as a Blues hero as NSW lifted the shield.The Match StatisticsThe match showcased the intensity of State of Origin rugby, with NSW dominating possession in the first half, enjoying two-thirds of the ball before Queensland's Tamika Upton scored just before halftime. The Maroons took the lead early in the second half through hooker Jada Ferguson, but NSW responded with Jess Sergis powering through the defense. Jesse Southwell, who also kicked the winning field goal in game one, was instrumental in NSW's victory with both a try and a crucial try-saving tackle.The Significance of Back-to-Back WinsThis victory represents a significant achievement for NSW Women's rugby league, as they have now secured back-to-back State of Origin shields. The win helps consign the pain of the 2024 series to the past, when they won game one but allowed Queensland's resurgence to take root in game two. This year, despite letting Queensland back into the contest, they held firm at the death to secure the result, demonstrating their growth as a team under pressure.The Future of Women's State of OriginThe growing attendance of 23,846 fans and the increasing quality of play suggests that Women's State of Origin is continuing to gain momentum and popularity. With NSW establishing themselves as the dominant force, Queensland will likely regroup and aim to reclaim the series in 2027. The dramatic nature of this match, particularly the final minute decision, will undoubtedly generate even more interest and anticipation for next year's series, further cementing Women's State of Origin as a premier sporting event in Australia.
#State of Origin #NSW Blues #Queensland Maroons
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Sports May 14, 2026

Alexander Bublik: The Honest Rebel Redefining Professional Tennis

Alexander Bublik, known for his candid and often controversial takes on tennis, has transformed fro…
The Candid Champion's Career TransformationThere are few experiences on the professional tennis circuit more uncomfortable than being Alexander Bublik's opponent. The task of deciphering one of the more talented and unpredictable players is challenging enough, but there is also a risk of being on the receiving end of a few stinging insults. Over the years, Bublik has become notorious among Russian-speaking fans for his scathing rants about his rivals, while reserving plenty of scorn for himself and the sport as a whole.From Underachiever to Top Ten: Bublik's Remarkable RiseThis past year has marked a significant transformation for the Russian-born Kazakhstani player. Just twelve months ago, Bublik had fallen out of the top 80 and his dire form forced him to drop back down to the ATP Challenger circuit—a desperate low for someone already considered an underachiever. However, his enviable talent has propelled a rapid turnaround: Bublik ended the clay-court season by defeating Alex de Minaur and Jack Draper (ranked No 9 and No 5), en route to his first grand slam quarter-final at the French Open. He then toppled the world No 1 Jannik Sinner on his way to winning the ATP 500 title in Halle.The Financial Reality of Professional TennisWhile most millionaire players are hesitant to speak about their earnings, money is another subject that Bublik often speaks freely on. "I think you realise that quickly once you start making your first money playing tennis that it's a big business," he says. "It's nice to win trophies, it's nice to be playing in a beautiful arena, it's all nice but at the end of the day you got to pay yourself and I think that was the very first motivation that I had when I became a professional tennis player." This pragmatic approach to tennis as a business has been central to his career strategy, even during his less committed years.The Changing Landscape of Tennis AuthenticityBublik's outspoken nature has sparked debate about authenticity in professional sports. "I think emotions are emotions," Bublik explains. "I guess it's just we live in a world where everyone tries to fake and I think there's nothing wrong in just releasing your emotions in a way because it's a stressful sport." His perspective extends to social media as well: "I guess the entire social media is fake, so I guess all the people who are there pretending to be someone they're not. I guess it's fake." This stance positions Bublik as a counterpoint to the carefully curated public personas common in modern sports.Maintaining Momentum: The Challenges AheadReaching the top 10 is impressive, but as Bublik's recent defeat at the Italian Open demonstrates, it is far tougher to maintain that status week in, week out. The top players have targets on their backs and it is far easier to swing freely with nothing to lose. Bublik will have a significant amount of points to defend over the coming months, starting with his return to Roland Garros one year on from the most beautiful moment of his career. His handling of these new experiences will say plenty about whether his transformation is complete or merely a remarkable career resurgence.
#Alexander Bublik #Professional Tennis #ATP Tour
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Economy May 14, 2026

Bond Market Fears as UK Political Turbulence Raises Spectre of Another 'Liz Truss Moment'

Political uncertainty in the UK has triggered a sell-off in government bonds, with yields reaching …
The Lead: Political Uncertainty Triggers Bond Market JittersAs Keir Starmer faces a potential leadership challenge, the spectre of the bond market looms large over Westminster. The prospect of Britain switching prime ministers for a sixth time in seven years has fuelled a sharp sell-off in the market for UK government debt, with investors warning of a potential repeat of the 2022 "Liz Truss moment" that sent shockwaves through the UK's financial system.The Bond Market Reaction: Yields at 28-Year HighsAs Starmer's grip on power appeared to be slipping away, the yield on 30-year government bonds, or gilts, briefly reached 5.8% on Tuesday, the highest level since 1998, before slipping back after a challenge failed to immediately materialise. However, selling pressure has been maintained on the UK government's bonds relative to its G7 peers, with investors fearing a return to political instability in Britain and a leftwing shift by Labour involving higher levels of borrowing."The markets hate uncertainty, but they hate a political vacuum even more," said Nigel Green, the chief executive of deVere Group. "A cabinet resignation followed by a leadership fight would signal that the government is losing control of itself while investors are already questioning the country's fiscal direction."The Economic Backdrop: Mounting Debt PressuresBritain has elevated levels of borrowing and debt. After a succession of economic shocks, years of lacklustre growth, and rising pressure to repair battered public services and to support an ageing population, the UK's national debt stands at almost 100% of GDP – the highest level since the 1960s.Meanwhile, with the rise in interest rates worldwide amid the inflation pressures unleashed after the Covid pandemic, the Russian invasion of Ukraine, and now the Iran war, the cost of servicing the country's debts has also risen. If someone were to replace Starmer, they would face the same challenges, analysts at Goldman Sachs wrote in a note to clients. "Policy choices will remain constrained by the challenging backdrop of rising spending pressures and an already elevated tax burden irrespective of any changes in leadership."The Political Calculations: Labour's Internal DilemmaWithin Labour ranks many MPs are sanguine, reflecting frustration at a tight approach to tax and spending under Starmer, despite the party's plunging poll ratings and dire showing in elections across Britain last week. The prime minister's allies have sought to argue that avoiding bond market provocation should be reason enough to save him. Others appear willing to put the City's warnings to the test.The Merseyside MP Paula Barker, an ally of Andy Burnham, has suggested financial markets would "have to fall into line" should the Greater Manchester mayor find a route to Downing Street. Meanwhile, the leftwing grandee Diane Abbott suggested that MPs "might as well go home" if bond market considerations trumped other priorities.The Market Warning: Risk of Another Truss MomentInvestors warn that a contest ignoring the fragile state of the public finances and realpolitik of the markets could prove fatal for any candidate to be prime minister – highlighting Liz Truss's short-lived premiership."If the political leadership [were to] change or if the current leaders [were to] opt to call for substantially more fiscal loosening, the risk is high that we would see another Liz Truss moment," said Reto Cueni, chief economist at Syz Group. "Markets can cope with ideology of any stripe if it is disciplined and coherent. They recoil from programmes that imply materially higher borrowing without a credible growth engine."Still, investors say further borrowing – on top of planned bond sales worth £252bn to fund the government's activities this year – would risk driving gilt yields higher. This would add to Britain's already £100bn-a-year debt interest bill – a sum representing about £1 out of every £10 spent by the Treasury.The Future Outlook: Balancing Act for LabourMark Dowding, the chief investment officer at the hedge fund RBC BlueBay, said: "It starts to become a very material element of your overall tax revenues. It becomes a bigger element of government spending; and as that moves higher it starts looking unsustainable. As it starts looking unsustainable, you enter a vicious spiral where the fear of it going higher drives borrowing costs even higher. There is almost a tipping point you fear might exist."Ahead of any leadership race, most City investors expect those vying to replace Starmer will attempt to strike a balance between shifting direction and keeping the bond market onside. This week, Louise Haigh, the powerful co-chair of the soft-left Tribune group of Labour MPs, set out a plan for the economy that would involve allowing higher levels of borrowing by overhauling the chancellor Rachel Reeves's current fiscal rules. However, the former cabinet minister warned any changes would have to wait until after Labour has met Reeves's main target of balancing day-to-day spending with tax receipts.
#UK Politics #Bond Markets #Keir Starmer
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