Potential benefits of the PM channelling his inner Maggie

On the face of it, the decision to remove the £300 winter fuel allowance from millions of poor-ish pensioners, as well as some rich ones, was a political blunder by Rachel Reeves.

- SEAN O'GRADY

Whether there really is a £22bn “black hole” in the public finances or not, this particular reform to the social security system will only raise £1.6bn – useful but not decisive. In the context of a welfare bill of about £260bn, and total public spending running at £1,200bn (ie £1.2 trillion), it seems to be almost masochistically designed to yield the greatest political damage for the least fiscal reward.

The timing – coinciding with bumper pay rises for junior doctors and train drivers, and generous overseas aid funding to mitigate climate change – has gifted the Tories and Reform UK some handy attack lines. It has split the parliamentary party, riled the unions and wound up the Labour membership. All those freshly minted loyal Labour backbenchers must wonder what they did to deserve this – especially when the 10,000 to 15,000 upset pensioners in their marginal constituencies exceed their parliamentary majorities. No wonder Keir Starmer’s approval ratings have collapsed.