20 h. ago Raise taxes or this government will fail, Rachel Reeves’s former top adviser warns

Exclusive: Ex-Treasury minister Jim O’Neill has warned Reeves will have to raise income tax, national insurance or VAT to fill the £5bn black hole left by the welfare climbdown

Events

38 h. ago Raising a big tax is Rachel Reeves' only way of balancing the books to fill fiscal black hole, experts warn

It came as a damning new poll by YouGov showed that three-quarters of Britons believe Ms Reeves will smash Labour's vow by putting up one of the UK's main taxes.

Events

57 h. ago Trump's '2 billion farms' gaffe at Iowa event raises mental clarity concerns amid tax bill claims

Donald Trump was speaking at the 'Salute to America' celebration in Iowa on Saturday, when he made the false claim that 2 billion farms will be saved in the tax bill

Politics

3 d. ago Which tax rises could Rachel Reeves introduce to pay for the £5bn welfare U

Labour’s pledge not to raise taxes on ‘working people’ leaves the chancellor with a limited number of workable options to fill the £5bn hole in the public finances left by this week’s welfare climbdown

Economics

4 d. ago Bosses at Glasgow council live entertainment firm awarded nearly £120,000 in bonuses

EXCLUSIVE: The top ups were awarded despite the council having to make cuts and raise tax.

Economics

6 d. ago Trump threatens to cut off New York City funds if Mamdani ‘doesn’t behave’

Democratic mayoral candidate denies Trump’s accusation that he is communist while reaffirming push to tax wealthyDonald Trump on Sunday threatened to cut New York City off from federal funds if favored mayoral candidate Zohran Mamdani, a democratic socialist, “doesn’t behave himself” should he be elected.Mamdani, meanwhile, denied that he was – as the president said – a communist. But he reaffirmed his commitment to raise taxes on the wealthiest New Yorkers while saying: “I don’t think that we should have billionaires.” Continue reading...

Politics

8 d. ago Reeves expected to freeze income tax thresholds to raise funds after welfare U

Government’s concessions over welfare cuts leave chancellor with a growing hole in her budgetRachel Reeves is expected to extend a freeze on income tax thresholds to raise fresh funds after the government’s U-turn on welfare cuts left her with a growing budget hole.The chancellor was already facing pressure to backtrack on pledges not to increase taxes further as she attempted to fix public services and grow the economy while meeting her fiscal rules. Continue reading...

Economics

8 d. ago Starmer ‘must hike taxes’ to plug £4.5bn black hole after welfare U

Sir Keir Starmer’s U-turn now leaves the government with a choice between raising taxes or cutting spending elsewhere

Economics

8 d. ago Reeves 'set to raise taxes' to fund Starmer benefits surrender: PM says he is 'pleased' after Labour revolt forces guarantee that NO

Keir Starmer claimed he had 'listened' in making major concessions to rebels threatening to kill flagship legislation on health and disability benefits.

Economics

8 d. ago Reeves expected to freeze income tax thresholds to raise fresh funds

Government’s U-turn on welfare cuts leaves chancellor with a growing hole in her budgetBusiness live – latest updatesRachel Reeves is expected to extend a freeze on income tax thresholds to raise fresh funds after the government’s U-turn on welfare cuts left her with a growing budget hole.The chancellor was already facing pressure to backtrack on pledges not to increase taxes further as she attempted to fix public services and grow the economy while meeting her fiscal rules. Continue reading...

Economics

9 d. ago Reeves 'set to raise taxes' to fund Starmer benefits surrender that will not strip ANYONE of their handouts and blows another hole in UK finances

Keir Starmer has handed major concessions to rebels in a desperate bid to salvage flagship legislation on health and disability benefits.

Economics

2 w. ago MAIL ON SUNDAY COMMENT: Dogma cares little for the state of Britain's economy

MAIL ON SUNDAY COMMENT: This country's economy is now in serious peril. This is not only because the Government is nudging at the very outer limits of what it can raise in tax and borrowing.

Politics

2 w. ago Pressure grows on Reeves to raise taxes as borrowing hits £17.7bn in May

The borrowing was the highest on record for May outside the pandemic

Economics

3 w. ago Reeves braced for OBR forecasts to blow £20bn hole in tax and spending plans

Downgrades by Treasury watchdog could force chancellor to raise taxes or cut spending at budget to meet fiscal rulesRachel Reeves is braced for revised forecasts by the Office for Budget Responsibility (OBR) to blow a £20bn hole in her tax and spending plans before the autumn budget.Even without changing the totals the chancellor set out in her spending review on Wednesday, a weaker forecast from the the Treasury’s independent watchdog could force her to find significantly more money at the budget to meet her “non-negotiable” fiscal rules. Continue reading...

Economics

3 w. ago Reeves will be forced to raise taxes this autumn, economists predict

UK chancellor warned ‘something important may have to give’ to fill expected fiscal hole

Economics

3 w. ago Reeves only a ‘gnat’s whisker’ from having to raise taxes in autumn, says IFS – UK politics live

Institute for Fiscal Studies says figures for projected departmental efficiencies savings from Treasury are not credibleReeves gambles on ‘renewing Britain’ to win voters’ trustRachel Reeves is now on ITV’s Good Morning Britain. Susannah Reid and Richard Madeley are interviewing her.Q: You must be disappointed about the growth figures? Continue reading...

Politics

3 w. ago Voices: Yes, ‘Renewal’ Reeves needs to raise taxes – but how will she pull it off?

The chancellor’s fiscal headroom is already compromised by her commitment to tackle child poverty, writes Sean O’Grady. So she needs luck – and to be more boring than ever – to raise the revenue she desperately needs

Politics

3 w. ago Rachel Reeves says she ‘chooses investment’ as she prepares to unveil Labour’s spending review – UK politics live

Chancellor will reveal how the government plans to spend almost £1.4tn in 2026-27, rising to almost £1.5tr in 2028-29In Wales politcians from almost all parties have been complaining for years about the UK governments decision to categorise HS2 as a project for England and Wales, even though the line does not go through Wales at all. Treating it as a project that nevertheless benefit Wales means Wales does not get equivalent money for its own infrastructure, under the Barnett formula.According to a report by ITV Cymru, Wales will get £445m for rail in the spending review. ITV quotes a Welsh Labour source as saying:This investment is more than Wales would have had so far had HS2 been Barnettised. It will make a massive difference economically and politically.We need to go much further and faster to get one step ahead of the tactics used by small boat gangs.That is why we will boost investment to secure our borders, with up to £280m per year in the Border Security Command by 2028/29. ...

Politics

3 w. ago Rachel Reeves rocked by jobs slump: Shock figures show quarter of a MILLION jobs have gone since tax

In a blow that makes a mockery of the Chancellor's claim to have 'fixed the foundations' of the economy, official figures showed a quarter of a million jobs have gone since her Budget last year.

Economics

3 w. ago Brits back cuts to foreign aid, benefits and Net Zero to fund the NHS and police

YouGov research has given an insight into the public's priorities as Rachel Reeves prepares to unveil departmental budgets for the next three years.

Events