It’s a double celebration for Rachel Reeves today. Not only is it her birthday, but the UK economy grew by 0.1 per cent in the last three months of 2024, according to the Office for National Statistics’ latest report. December, when the economy expanded by 0.4 per cent (the market consensus had been 0.1 per cent), was the saving grace. This helped tip the final quarter of 2024 onto the right side of positive growth.

But it’s not all rosy for the Chancellor. This morning’s update won’t take anyone in the Treasury off high alert, and there has been a development in the story about her CV. The BBC has been looking into her expenses during her time at Halifax bank. The Chancellor’s response is that she had no knowledge that there was an investigation into wrongdoing. Will it be a happy birthday after all?

Elsewhere, it’s a big day at The Spectator. In this week’s issue, we have launched The Spectator Project Against Frivolous Funding (SPAFF). This online tool lets readers explore the wastelands of government procurement contracts, reckless credit card splurges and absurd research grants. Spoiler alert: there’s no shortage of material. Can you find more wasteful funding? Go to: spectator.co.uk/spaff

Oscar Edmondson speaks to Kate Andrews and Michael Simmons.

Produced by Oscar Edmondson.

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