On a Saturday morning in late October, the front pages of Britain's newspapers turned their attention to the Duchess of Sussex and to allegations about her father, which the Metropolitan Police are now trying to trace through a letter they once received and cannot yet locate. The same day carried quieter anxieties about money, as a £20bn plan for the National Wealth Fund and British Business Bank was readied for the coming Budget, and a former Bank of England economist warned that governments tend to postpone the hard decisions that the public finances demand. Beneath these stories runs an old
Meghan Faces Questions Over Father as Papers Weigh Budget Risks and Oldest Pub Claim
A "mañana budget" that defers difficult decisions
Mark
Meghan is on the front pages again. What's the actual news?
Mimi
The Met is searching for a letter it received with allegations about her father, Thomas Markle. He denies possessing child sex images. Meghan made a statement on Friday.
Luke
Worth being careful there. The papers report allegations and a search for a letter. Nothing here confirms the claims, and the Sun's further allegations are the Sun's.
Mark
The Telegraph says she was advised against speaking in 2018. Why does that matter?
Mimi
The paper says it was to avoid jeopardising any later investigation. It frames her silence as advice rather than choice.
Luke
And that's the Telegraph saying it understands this. It's not a confirmed fact from the people involved.
Mark
Turning to the Budget, what is the £20bn?
Mimi
Extra funding for the National Wealth Fund and British Business Bank, aimed at 100,000 jobs by 2035. Borrowing to back the lending is expected from 2028.
Luke
That's the Financial Times's report of what will be announced. The jobs figure is an intention, not a result.
Mark
And Haldane's warning?
Mimi
He fears a "mañana budget" that defers hard choices, while saying borrowing and taxes are near their limits.
Luke
It's one economist's fear, though he has ties to Burnham, which is worth knowing. As for the EU split, that rests on the i Weekend's account of a narrow majority, with no consensus on a referendum.
The Pulse
- The Met is hunting for a letter containing allegations about Thomas Markle, who firmly denies them, while papers split over how to frame Meghan's Friday statement.
- A reported 2018 piece of advice that Meghan stay silent to protect a possible investigation adds a fresh layer of intrigue to the coverage.
- A £20bn funding package for the National Wealth Fund and British Business Bank is set to land in next week's Budget, aiming for 100,000 jobs by 2035.
- Andy Haldane warns of a 'mañana budget' and says Britain is close to being taxed out and maxed out, casting doubt on the government's economic footing.
- Cabinet ministers are divided, with a narrow majority reportedly favouring EU rejoining but no agreement on a referendum or on how the wounds of Brexit would be reopened.
On a Saturday morning in late October, the front pages of Britain's newspapers turned their attention to the Duchess of Sussex and to allegations about her father, which the Metropolitan Police are now trying to trace through a letter they once received and cannot yet locate. The same day carried quieter anxieties about money, as a £20bn plan for the National Wealth Fund and British Business Bank was readied for the coming Budget, and a former Bank of England economist warned that governments tend to postpone the hard decisions that the public finances demand. Beneath these stories runs an older tension, between what a nation promises its future and what it can afford to borrow against it, and between the private wounds of a family and the public appetite for their retelling.
On Saturday morning, the Duchess of Sussex dominated many of Britain's front pages. The Daily Mail led with word that the Metropolitan Police are searching for a letter they received containing allegations about Meghan's father, Thomas Markle, who denies possessing child sex images. The Telegraph reported that Meghan was advised in 2018 not to speak publicly on the matter, in case it jeopardised any later investigation, while The Sun pressed further allegations about Thomas Markle and called Meghan's Friday statement "brave and impactful". The papers are approaching the same story from different angles, and the allegations remain allegations.
On the economy, the Financial Times reported that £20bn will be announced in next week's Budget for the National Wealth Fund and the British Business Bank, aimed at 100,000 jobs by 2035 in artificial intelligence, defence and green energy, with the extra borrowing expected to begin in 2028. Andy Haldane, the former Bank of England chief economist, told the Times he fears a "mañana budget" that postpones difficult decisions, and that the country is "close to being taxed out and maxed out" on borrowing.
The i Weekend found the cabinet divided over whether Britain should seek to rejoin the EU. A narrow majority of ministers is said to favour it, but there is no agreement on whether a referendum would be held, or whether the pursuit would reopen the wounds of Brexit.
The review closed on a lighter note. Historic England archaeologist Dr James Wright claims to have settled the long-running dispute over Britain's oldest pub, examining the original purposes of the buildings, tree-ring dating their wooden beams, and studying their surviving fabric. His verdict is the George Inn in Norton St Philip, Somerset, in continuous service for more than 600 years.
The things to watch now are whether the Budget confronts hard choices or defers them, and whether the cabinet can find any common ground on Europe.
On Saturday morning, the Duchess of Sussex was on many of Britain's front pages. The Daily Mail led with the news that the Metropolitan Police are searching for a letter they received containing allegations about Meghan's father, Thomas Markle. Thomas Markle denies possessing child sex images.
The Daily Telegraph said it understands Meghan was advised in 2018 not to speak publicly about the matter, in case doing so jeopardised any later investigation. The Sun made further allegations about Thomas Markle and described the statement Meghan made on Friday as "brave and impactful". The papers, in short, are treating the same story from different angles, and the allegations remain allegations.
On the economy, the Financial Times reported that £20bn of extra funding will be announced in next week's Budget for the National Wealth Fund and the British Business Bank. The stated aim is to create 100,000 jobs by 2035 in sectors such as artificial intelligence, defence and green energy. The additional borrowing needed to support the lending is expected to begin in 2028.
Andy Haldane, the former chief economist at the Bank of England, told the Times he fears a "mañana budget", one that puts off difficult decisions. He also said the country is "close to being taxed out and maxed out, in terms of borrowing". Haldane, who acted as an informal adviser to Andy Burnham while Burnham was Greater Manchester mayor, called the economy the prime minister's "blind spot".
The i Weekend reported that the cabinet is divided over whether the UK should seek to rejoin the EU. A narrow majority of ministers is said to favour rejoining. But according to the paper, there is no agreement on whether a referendum would be held, nor on whether pursuing the goal would reopen the wounds of Brexit.
The press review ended on a lighter note. Dr James Wright, an archaeologist for Historic England, says he has settled the long-running argument over which pub is the oldest in the country. Around two dozen establishments have claimed the title. According to the Guardian and the Daily Mail, Wright examined the original purposes of the buildings, carried out tree-ring dating on wooden beams, and researched the surviving fabric of each. His verdict is the George Inn in Norton St Philip, Somerset, which he says has been in continuous service for more than 600 years.
The things to watch now are whether the Budget confronts hard choices or defers them, as Haldane fears, and whether the cabinet can reach any consensus on rejoining the EU.
Notable Quotes
The country is close to being taxed out and maxed out, in terms of borrowing.— Andy Haldane, former Bank of England chief economist, to the Times
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