1 hour ago Minister hints at 'tough' spending cuts in March as he rules out emergency Budget after spike in government's borrowing costs

Treasury Chief Secretary Darren Jones admitted 'tough decisions' will be needed after the UK took a hammering from markets.

Politics

67 minutes ago Starmer hints at spending cuts as he blames 'volatile' global economy for post

Keir Starmer insisted the government will stick to its fiscal rules as he clashed with Kemi Badenoch at PMQs.

Economics

2 hours ago Is Rachel Reeves plotting ANOTHER cash raid on farmers? Chancellor warned against taking money from flood defences and nature after IHT hit as she reins in public spending

But fears have been raised that she could hit farmers again this year by making cuts to the Environment Land Management (Elm) scheme.

Events

3 hours ago FTSE 100 Live 15 January: Stocks rally on rate cut hopes, Currys hails progress

A dip in inflation today eased pressure on Rachel Reeves and boosted hopes of a February interest rate cut.

Politics

1 hour ago Watch live: Keir Starmer faces grilling from Kemi Badenoch in Commons after surprise inflation fall

Watch live as Sir Keir Starmer faces Kemi Badenoch at Prime Minister's Questions on Wednesday, 15 January, after a surprise inflation fall gave a boost to under-fire chancellor Rachel Reeves.

Economics

12 hours ago Rachel Reeves is warned that opening the door to spending cuts after market chaos would be 'politically suicidal'

The Chancellor hinted that billions of pounds in emergency spending cuts could be needed after sceptical financial markets pushed up long-term borrowing costs to the highest rate for 27 years.

Events

4 hours ago Treasury minister signals cutbacks in some public spending to pour more funds into dash for growth

Cabinet ministers will have to meet face-to-face to come up with departmental savings to fund the Government’s priorities

Politics

2 hours ago Slower UK inflation relieves pressure on Rachel Reeves as financial markets calm

The cost of Government borrowing eased on Wednesday morning in a tentative sign of relief among traders after more heightened economic concerns.

Economics

13 hours ago Two thirds of retailers to hike prices because of Rachel Reeves’ budget, industry warns

The British Retail Consortium said 67 per cent of the finance bosses they asked said they would raise prices

Events

7 hours ago Chancellor Rachel Reeves does not have a mandate for austerity, says Kate Forbes

The deputy first minister says Chancellor Rachel Reeves needs to be straight with the public, amid concerns about market uncertainty

Politics

4 hours ago HUGO DUNCAN: Inflation may have dipped to 2.5 per cent but worrying signs remain for homeowners hoping for cheaper mortgage rates

Crucially for the embattled Chancellor, UK borrowing costs edged lower on international bond markets having soared to 27-year highs, though the pound remains volatile, writes HUGO DUNCAN.

Economics

21 hours ago Why Chancellor Rachel Reeves is under threat, and what she can do to stop it

Economic forecasts make for grim reading

Events

7 hours ago Keir Starmer is right to gamble on an AI revolution, but it might not pay out in time | Rafael Behr

The cash to match the prime minister’s ambition will have to come from other budgets long before any benefits are seenKeir Starmer made two predictions at the start of his week. He said that artificial intelligence will transform Britain’s economy in the coming years and that Rachel Reeves will continue to run the Treasury. Those were safe bets, but not guarantees. One is a forecast the prime minister makes eagerly, the other was bullied out of him. He would have preferred to talk about AI improving productivity, generating jobs and improving services, without being asked if he plans to sack the chancellor.He doesn’t, and wouldn’t say even if he did. The question isn’t serious. It is a contrivance, a lobby ritual for turning speculation into news. Demand official comment on an improbable scenario, then interrogate the answer until it surrenders a headline. Starmer isn’t poised to jettison Reeves, but economic pressure on the pair is real. There is no growth. The pound is depreciatin...

Politics

5 hours ago FTSE 100 Live 15 January: Index rallies on inflation cheer, Currys shares surge

A dip in inflation today eased pressure on Rachel Reeves and boosted hopes of a February interest rate cut.

Economics

24 hours ago Reeves warned further cuts ‘politically suicidal’ as she faces MPs amid market turmoil – UK politics live

Chancellor to take questions following her statement on China visitStephen Doughty, a Foreign Office minister, has told MPs that the future of Greenland is a matter for the people who live there. And he said that he made this clear in a meeting with Greenland’s foreign minister.But he did not explicitly criticise Donald Trump for threatening to use military force to seize the island for the US.Greenland is part of the Kingdom of Denmark and the future of their constitutional arrangements is a matter for the people and government of Greenland and indeed the Kingdom of Denmark. It would be wrong to speculate on any policy decisions the incoming administration of President-elect Trump may make.Those are messages I delivered in a meeting with the Greenlandic foreign minister yesterday, but there are rightly important concerns about security in the Arctic, which is why I was proud to be one of the first British ministers in 10 years to attend the Arctic Circle Assembly and meet partners ...

Events

13 hours ago Ministers await inflation data as Reeves defends response to market turbulence

Chancellor Rachel Reeves is dealing with a period of turbulence in the UK financial markets.

Politics

5 hours ago Surprise inflation dip provides ‘respite’ for Chancellor amid market turmoil

Chancellor of the Exchequer Rachel Reeves said she will ‘fight every day’ to improve people’s living standards.

Economics

26 hours ago Reeves will be committing ‘political suicide’ if she orders spending cuts, warns John McDonnell

Ex-shadow chancellor calls for wealth tax to tackle economic crisis

Events

14 hours ago One Lame duck down! Tulip Siddiq resigns as City minister over Mail's 'corruption' probe revelations just 24 hours after Keir Starmer backed Labour MP

It came 26 days after the Mail revealed she was facing a major corruption probe in Bangladesh.

Politics

6 hours ago UK politics live: Boost for Reeves as inflation falls after No 10 refuses to rule out emergency budget

The Consumer Prices Index figure fell to 2.5%, still above the Bank of England’s 2% target

Economics

16 hours ago 'Rachel Reeves should be allowed to get on with tough job in face of doom

Chancellor Rachel Reeves has come up against fierce critics over government borrowing costs and should be left to get on with the tough job after inheriting a financial black hole from the Tories, The Mirror says

Politics

13 hours ago No 10 refuses to rule out emergency budget as fresh inflation figures due: Live

Sir Keir Starmer hit by second ministerial resignation in six months as Tulip Siddiq steps down as anti-corruption minister

Economics

17 hours ago QUENTIN LETTS from Westminster: The Tories talked of Shakespearean tragedy

No longer mistress of all she surveys, no longer empress of the horizon, Rachel Reeves crouched on the Commons front bench with a knot of her closest supporters. Six fretful souls at a bus stop.

Politics

13 hours ago Business confidence suffers biggest fall since Ukraine invasion after Reeves Budget

Accountancy body warns steep decline was driven by unprecedented concerns over the impact of the tax burden and weaker domestic sales growth.

Economics

18 hours ago Tough times for the ‘Iron Chancellor’ who needs to regain the nation’s trust 

Editorial: As Rachel Reeves addresses the growing fiscal crisis in the House of Commons, there is a worrying sense that the work Labour did before the election to gain the confidence of business, attract investment and create jobs is being squandered in what will feel to many as a betrayal

Politics

20 hours ago Rachel Reeves tells Tory critics to 'get real' as she comes out fighting on economy

Rachel Reeves shrugged off Tory calls for her resignation as she faced MPs after a turbulent week, which saw volatility in the pound and the cost of Government borrowing soar

Politics

20 hours ago You must be joking! Rachel Reeves laughs off Tory fury at market meltdown in Commons clashes... as she hints at emergency spending cuts to deal with spiking debt costs and stalling economy

Rachel Reeves was berated for leaving Britain in a 'mess' as she faced the Commons after returning from her controversial trip to China.

Economics

23 hours ago 'Don't panic,' Chancellor Rachel Reeves urged after Pound's fall and rise in cost of Government borrowing

The Chancellor earlier rejected calls to pull out of a trip to China to deal with economic woes in the UK

Politics

21 hours ago Rachel Reeves hints at emergency spending cuts as Labour's Britain is hammered by market meltdown, spiking debt costs and a stalling economy

Rachel Reeves was berated for leaving Britain in a 'mess' as she faced the Commons after returning from her controversial trip to China.

Economics

23 hours ago Reeves condemns Tories’ economic legacy after shadow chancellor calls for her to be sacked – UK politics live

Reeves says that Tories have no policies and says she is dealing with ‘14 years of stagnant economic growth’Stephen Doughty, a Foreign Office minister, has told MPs that the future of Greenland is a matter for the people who live there. And he said that he made this clear in a meeting with Greenland’s foreign minister.But he did not explicitly criticise Donald Trump for threatening to use military force to seize the island for the US.Greenland is part of the Kingdom of Denmark and the future of their constitutional arrangements is a matter for the people and government of Greenland and indeed the Kingdom of Denmark. It would be wrong to speculate on any policy decisions the incoming administration of President-elect Trump may make.Those are messages I delivered in a meeting with the Greenlandic foreign minister yesterday, but there are rightly important concerns about security in the Arctic, which is why I was proud to be one of the first British ministers in 10 years to attend the ...

Politics

22 hours ago Reeves rejects claims economic turbulence is a ‘crisis made in Downing Street’ but admits need to ‘go faster’

The chancellor faced a grilling from MPs in the Commons after the cost of government borrowing increased and the value of the pound fell, putting her plans for the nation’s finances at risk

Economics

24 hours ago Watch live: Rachel Reeves addresses controversial China trip amid market turmoil

Watch live as Rachel Reeves answers questions in the House of Commons on Tuesday, 13 January, after returning from a trip to China criticised by political opponents for coinciding with a week of volatility for the pound and soaring yields on UK bonds.

Politics

23 hours ago Rachel Reeves challenged over Chinese slave labour and jailed British citizen Jimmy Lai as she scrambles to defend her 'small beer' £600m investment deal from Beijing trip

The recently-returned Chancellor updated MPs on her controversial overseas trip, which she went ahead with despite growing economic alarm in Britain.

Economics

24 hours ago Watch: Rachel Reeves addresses controversial China trip amid market turmoil

Watch as Rachel Reeves answered questions in the House of Commons on Tuesday, 13 January, after returning from a trip to China criticised by political opponents for coinciding with a week of volatility for the pound and soaring yields on UK bonds.

Politics

23 hours ago 'Where was the Chancellor?' Rachel Reeves blasted by MPs over UK market meltdown after returning from wooing communist China to economic 'mess'

The Chancellor was welcomed back to a 'mess' as she faced the Commons, having travelled to Beijing to woo its Communist leaders to do business in Britain.

Economics

24 hours ago As she's been announced to remain Chancellor until 2029, what's true on Rachel Reeves' LinkedIn CV – and what's not?

The Chancellor of the Exchequer has been embroiled in a scandal over the editing of her LinkedIn

Politics

23 hours ago Reeves says market uncertainty shows need to kickstart economic growth

Chancellor Rachel Reeves faced MPs after turbulence in the markets sent government borrowing costs up and the value of the pound down.

Economics

27 hours ago Rachel Reeves told it would be ‘politically suicidal’ to impose further cuts as economy falters – UK politics live

John McDonnell says more cuts would be ‘a disaster for the country’ and steer voters towards ReformYou might think that Kemi Badenoch’s latest comments on the grooming gangs scandal (see 9.39am) sound a bit more Lee Anderson than Rishi Sunak, David Cameron or any other mainstream Conservative party leader. You would be right.One explanation (often the best explanation in politics) is that Badenoch is just saying what she thinks.While Badenoch may have hoped that her positioning would bring Reform UK defectors back into the fold, our results show that just 4% of those who voted for Reform UK at the 2024 general election now plan to vote for the Conservatives – while at the same time the Tories have lost 15% of their 2024 voters to Farage’s party. Continue reading...

Politics

28 hours ago Mortgage rates edge up after Government borrowing costs soar and Pound falls

But they are not rising as sharply as after Liz Truss and Kwasi Kwarteng’s 2022 ‘mini-Budget’

Politics

36 hours ago Greenland seeking closer ties with US, particularly on mining, PM says

Donald Trump raised alarm last week when he refused to rule out military intervention to bring Greenland and the Panama Canal under US controlGreenland’s prime minister said on Monday the Danish autonomous territory was open to closer ties with the United States, in areas such as mining, a Greenlandic broadcaster reported.“We need to do business with the US. We have begun to start a dialogue and seek opportunities for cooperation with [Donald] Trump,” Mute Egede said at a press conference in Greenland, according to public broadcaster KNR. Continue reading...

Politics