Rachel Reeves’s duty is to the people, not the markets | Letters
Your editorial (14 January) rightly critiques Rachel Reeves’s adherence to Treasury orthodoxy,But the persistence of this framework goes deeper than institutional inertia,It reflects a failure to recognise a choice at all – and an inability to imagine and craft better alternatives,Treasury orthodoxy is rooted in the Thatcher-Reagan era,It is not just outdated, but has become invisible to those who wield it.
Traditional economic training teaches policymakers to see fiscal discipline and market reassurance not just as good options but as the only ones.This narrow view blinds them to evidence that transformative public investment, targeted redistribution and state-led solutions can be essential to tackle inequality, stagnation and the environmental crisis.The Treasury’s intellectual framework is too narrow and entrenched to encourage its staff to question their own assumptions.Without sufficient exposure to alternative economic models – from modern monetary theory to green economics – policymakers lack the intellectual tools to think beyond the constraints of orthodoxy.Labour is clearly serious about governing in the whole public interest.
But to succeed, it must champion new ways of thinking.This is not just about adopting bold policies; it is about equipping our institutions – and those who staff them – to recognise that boldness is necessary, feasible and credible.Anthony LawtonChurch Langton, Leicestershire There is nothing inherently good or bad in government deficits or surpluses.They reflect the state of the rest of the economy.If there is a reduction of spending in the private sector then, unless the government picks up the slack, economic activity will decline.
We need to get over the household view of the public finances.If we accept that a government’s duty is to the wellbeing of its people, then the way to judge its performance is relative to that.The key restraint on a government’s ability to carry out the electorate’s wishes is not money (which it creates when it spends), but the amount and quality of our nation’s resources (labour, raw materials, existing infrastructure) and the uses to which they are put.Do we want our talented students to become doctors or bond traders? Do we want materials to be used to build modest, energy-efficient homes, or five-bed, five-bath properties? Our government should be using the power it has to encourage the outcomes that social attitude surveys show we value, not to obey some arbitrary fiscal rule at the behest of unelected financial markets whose aim is to use money to make money rather than to create things of value to society.Ros WainClifton upon Teme, Worcestershire In July 2024, people voted for change.
They did not vote for Tory lite, nor Osborne austerity version 2, nor balancing the budget on the backs of disabled people (No 10 backs Rachel Reeves to remain in post for rest of parliament, 13 January).Rachel Reeves has made some unfortunate choices, such as the winter fuel allowance cut and having business pick up most of the budget black hole.But that now leaves her the opportunity to increase taxes on the rich, such as by restricting tax relief on pension contributions to the basic rate.If she wishes to cut the welfare bill, how about tackling the housing benefit paid to landlords? Further cuts to general public spending will have Labour out of office by the end of 2029.Phil TateChester Have an opinion on anything you’ve read in the Guardian today? Please email us your letter and it will be considered for publication in our letters section.
McCullum feels need for T20 speed in England’s daunting India series
When named England’s Test coach in 2022, Brendon McCullum explained he didn’t want it easy. The white-ball job was a “cushy kind of gig” that wasn’t of interest, his pal Eoin Morgan having run that crew so well. World champions and clearing 400 with the bat, what could he change there? Reviving a long‑form team burnt by the pandemic Ashes was actual work and therefore attractive to McCullum.That he now must take pity on the white-ball setup tells us plenty. Five Twenty20 internationals and three one-dayers in India mark McCullum’s full takeover of England men’s cricket, the tour a preface to the Champions Trophy next month in Pakistan (and the United Arab Emirates should they play India)
Novak Djokovic worried by injury suffered in win against Alcaraz
The clock is ticking for Novak Djokovic and what appears to be a groin or hamstring strain sustained during his quarter-final victory after he expressed fears the injury could hinder his pursuit of an 11th Australian Open and 25th grand slam title.Djokovic overpowered Carlos Alcaraz in four sets in a match that finished close to 1am on Wednesday, fighting back after losing a first set when he received medical treatment on his upper thigh.The former world No 1 declined to elaborate on the injury, saying only that it was similar to one he managed during his 2023 run to the Australian Open title. That was described as a 3cm tear in his hamstring at the time.He faces the No 2 seed, Alexander Zverev, in a semi-final on Friday, offering a period of close to three days’ rest
Wounded Djokovic outlasts young gun Alcaraz to close in on history | Jack Snape
When the gunslinger takes a bullet, the movie tends to quicken. A shootout goes awry, the drama builds. Their stomach bloody. Their eyes blinking new resolve. The thoughts of the audience turn only to how long they can last
Novak Djokovic defeats Carlos Alcaraz in Australian Open quarter-final – as it happened
So that’s today, but what of tomorrow? Well, action starts with Madison Keys v Elina Svitolina, then moves through Emma Navarro v Iga Swiatek and Ben Shelton v Lorenzo Sonego, before you get to join us for live, game-by-game coverage of Jannik Sinner v Alex de Minaur. See you then, but in the meantime, thanks for your company and go in peace.So let’s quickly round up today’s action:Paula Badosa beat Coco Gauff to reach her first grand slam semiAlexander Zverev beat Tommy Paul in four setsAryna Sabalenka beat Anastasia Pavlyuchenkova, justNovak Djokovic beat Carlos Alcaraz, as you may have heardPhew, that was some ridiculous behaviour. It’s amazing that Djokovic is still shocking and confounding us given 24 major titles, one Olympic gold, and all the other things he’s done to upend our conception of the possible. But that performance there was something else, the best he’s played in a slam in two years and coming when we were wondering if he even had that kind of performance left in him
Happy birthday Luke Littler: champion turns double nine with world at his feet | Jonathan Liew
Lionel Messi had scored one senior goal for Barcelona. Sachin Tendulkar had scored one Test century. Tiger Woods had played four tournaments on the PGA Tour and missed the cut in all of them. Ronnie O’Sullivan and Serena Williams had just won their first major titles. Simone Biles, though already richly garlanded at international level, was still waiting to compete in her first Olympics
Novak Djokovic defies injury to stun Carlos Alcaraz at Australian Open
At the end of another breathless exchange in the early stages of the most highly anticipated match of the Australian Open, alone in the centre of the colossal Rod Laver Arena, Novak Djokovic squatted to stretch his legs while exchanging anxious looks with his team.For 16 bruising strokes, he had been pummelled by Carlos Alcaraz in full flight; dragged from sideline to sideline then pulled forward to the net before watching helplessly as a forehand passing‑shot winner flew by him. Djokovic pulled up from the gruelling point limping before calling for the physio.It seemed for a few fleeting moments that the challenge of holding off one of the most special young players in history might be beyond Djokovic and his worn-down 37-year-old body this time. Instead, he responded with a masterpiece of a performance in the tournament that has defined his career, offering yet another reminder of his greatness by rallying from a set down to defeat Alcaraz 4-6, 6-4, 6-3, 6-4 and return to the semi-finals in Melbourne
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