65 h. ago Reeves 'could be forced into £40BILLION of extra tax hikes' by 'perfect storm' of stalling economy and Labour's benefits shambles

Chancellor Rachel Reeves is trying to move on after her outburst of emotion during PMQs yesterday.

Economics

66 h. ago Reeves 'could be forced into £40BILLION of extra tax hikes' by stalling economy and Labour's benefits shambles

Chancellor Rachel Reeves is trying to move on after her outburst of emotion during PMQs yesterday.

Economics

4 d. ago Rachel Reeves set to cut cash ISA allowance in blow to savers — here’s what you need to know

At the moment each person has a £20,000 ISA allowance to use where they wish

Politics

8 d. ago Voices: When it’s Rachel Reeves vs Andrew Bailey, I know who my money’s on

The governor of the Bank of England's response to the chancellor trying to talk up the flagging jobs market is quietly devastating, writes James Moore

Politics

2 w. ago UK's military and spy services set for £330m AI tech boost to help track enemies

Hundreds of millions of pounds will be invested in cutting-edge drones and artificial intelligence for the military as part of Rachel Reeves' attempt to revive the flagging economy.

Events

2 w. ago Rachel Reeves's policies will see UK economy 'muddle through' for next two years, CBI warns

It marks the latest downbeat verdict on Ms Reeves's performance as Chancellor - and undermines Keir Starmer's claim that Labour has 'fixed the foundations of the economy'.

Events

2 w. ago New blow for Rachel Reeves as inflation stays at 3.4 per cent

The latest data from the Office for National Statistics (ONS) means prices were still rising in May at a similar rate to April when a raft of bills increased for households up and down the country.

Economics

2 w. ago Rachel Reeves's policies will see UK economy just 'muddle through' for the next two years, industry group warns

It marks the latest downbeat verdict on Ms Reeves's performance as Chancellor - and undermines Keir Starmer's claim that Labour has 'fixed the foundations of the economy'.

Events

3 w. ago UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – business live

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record closeFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, t...

Economics

3 w. ago Rachel Reeves hit with headache after economy shrinks amid fresh fears of tax hikes

The Office for National Statistics said the UK economy shrank by 0.3% in April. Meanwhile, experts are warning that council tax bills will rise following Chancellor Rachel Reeves's spending review

Economics

3 w. ago Tax rises will come if economy shrinks further, IFS warns Rachel Reeves after Spending Review

The Spending Review delivered by Chancellor Rachel Reeves has had a mixed response.

Events

3 w. ago Voices: First the spending review, now the economy – what else lies in wait for Rachel Reeves?

Official figures showed UK plc plunged into the red in April, contracting by 0.3 per cent. There is no sugar-coating how bad of a result that is for the chancellor, writes James Moore

Economics

3 w. ago Largest ever plunge in UK exports to US as Trump tariffs hurt growth; dollar hits three

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumpedFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, to allow still troubling earnings growth ...

Politics

3 w. ago Tax hikes will come if economy shrinks any further, IFS warns Rachel Reeves

In a scathing assessment, the Institute for Fiscal Studies (IFS) suggested the Treasury was at times ‘making up the numbers’

Events

3 w. ago Rachel Reeves fails to rule out future tax rises as economy shrinks

However, the Chancellor repeated her promise that she would not need to increase taxes on the same scale as last year.

Economics

3 w. ago Rachel Reeves refuses to rule out Autumn Budget tax rises as economy shrinks 0.3% in April

Latest GDP estimate worse than the 0.1% fall expected by economists

Economics

3 w. ago Economy shrinks by more than expected amid record fall in exports to the US

Exports to America fell at the fastest pace on record, down £2 billion in April, according to the ONS.

Politics

3 w. ago Blow for Rachel Reeves after UK economy shrinks by more than expected

The UK economy contracted by 0.3% in April, according to the Office for National Statistics.

Politics

3 w. ago Voices: Rachel Reeves sounded like she was fighting for her political life

Delivering her spending review, the chancellor even made her theatrical opposite number look convincing – she needs to rediscover her firebrand energy and win Labour MPs back onside, says John Rentoul

Politics

3 w. ago What is the spending review? Everything Rachel Reeves could announce to fix UK economy

The Independent looks at what the spending review is, why the government has launched one and what is expected to be in it

Economics