26 h. ago Rachel Reeves: ‘I’m sick of the mansplaining on how to be Chancellor'

The UK’s first female Chancellor has spoken out about the sexism she’s faced whilst undertaking the mammoth task of trying to plug the black hole in public finances

Politics

31 h. ago There’s a catastrophic black hole in our climate data – and it’s a gift to deniers | George Monbiot

Climate sceptics tell us that more people die of extreme cold than extreme heat. What’s the truth?I began by trying to discover whether or not a widespread belief was true. In doing so, I tripped across something even bigger: an index of the world’s indifference. I already knew that by burning fossil fuels, gorging on meat and dairy, and failing to make even simple changes, the rich world imposes a massive burden of disaster, displacement and death on people whose responsibility for the climate crisis is minimal. What I’ve now stumbled into is the vast black hole of our ignorance about these impacts.What I wanted to discover was whether it’s true that nine times as many of the world’s people die of cold than of heat. The figure is often used by people who want to delay climate action: if we do nothing, some maintain, fewer will die. Of course, they gloss over all the other impacts of climate breakdown: the storms, floods, droughts, fires, crop failures, disease and sea level rise. B...

Politics

3 d. ago Keir Starmer grilled on Budget stealth tax during fiery PMQs exchange

Rachel Reeves, who is grappling with a multi-million pound black hole, said last year she would end the income tax threshold freeze by 2028. But there is speculation it could be extended

Economics

4 d. ago Pressure grows on Rachel Reeves not to raise Fuel Duty in Budget amid fears scrapping 5p

The Chancellor is considering a multi-billion pound raid on drivers as she scrambles to fill the black hole in the public finances and after she was forced to abandon plans to hike income tax.

Events

4 d. ago Pressure grows on Rachel Reeves not to raise Fuel Duty in next week's Budget

The Chancellor is considering a multi-billion pound raid on drivers as she scrambles to fill the black hole in the public finances and after she was forced to abandon plans to hike income tax.

Events

4 d. ago Rachel Reeve's ‘milkshake tax’ could hike these drinks prices

Rachel Reeves is set to announce what may be the presumed "milkshake tax" in an effort to fill her £20 billion budget 'black hole' after she reverses her decision to increase income tax

Economics

7 d. ago Rachel Reeves has found £10bn to save herself from imposing unpopular tax hikes

Her about-turn comes after the Office for Budget Responsibility said the black hole in public finances is closer to £20 billion rather than the £30bn originally feared

Economics

7 d. ago Reeves faces 'credibility crisis' as markets batter UK after Labour MPs force U

Markets have been heaping risk premium on UK borrowing after the Chancellor's extraordinary backtrack - which came despite weeks of heavy hints and tough talk.

Events

8 d. ago Treasury won’t cut threshold for higher rate income tax, say sources – UK politics live

Fallout continues over budget income tax U-turn, with Treasury saying expected fiscal gap has dropped to £20bnThis is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates1. Does it signal less willingness to do politically difficult thingsBritain’s long-term borrowing costs were sent soaring as reports suggested the latest U-turn would leave Rachel Reeves scrambling to fill a gaping black hole in the nation’s finances just two weeks before the 26 November budget.Yields on 30-year UK government bonds, also known as gilts, jumped as much as 14 basis points in early trading, and the yield on 10-year gilts also shot up 12 basis points – rising the most since July. Continue reading...

Politics

8 d. ago Streeting says striking doctors ‘extremely irresponsible’ in angry phone

Health secretary unhappy as resident doctors in England have started a five-day strike todayThis is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates1. Does it signal less willingness to do politically difficult thingsBritain’s long-term borrowing costs were sent soaring as reports suggested the latest U-turn would leave Rachel Reeves scrambling to fill a gaping black hole in the nation’s finances just two weeks before the 26 November budget.Yields on 30-year UK government bonds, also known as gilts, jumped as much as 14 basis points in early trading, and the yield on 10-year gilts also shot up 12 basis points – rising the most since July. Continue reading...

Events

8 d. ago Markets get jitters after Reeves DROPS Budget plan to hike income tax amid panic that Labour MPs will oust Starmer but she could slash thresholds instead to fill £30bn black hole

The Pound has already taken a hit after the extraordinary U-turn emerged overnight, following weeks of signals that the move would go ahead.

Economics

8 d. ago Markets hammer Reeves after she DROPS Budget plan to hike income tax amid panic that Labour MPs will oust Starmer but she could slash thresholds instead to fill £30bn black hole

The Pound has already taken a hit after the extraordinary U-turn emerged overnight, following weeks of signals that the move would go ahead.

Economics

8 d. ago Major update on Rachel Reeves' plan to hike income tax this month

An income tax rise would help her bridge a fiscal black hole estimated by some economists to be as much as £50billion

Politics

8 d. ago Chancellor Rachel Reeves 'ditches plan to increase income tax' in upcoming Budget, reports say

Chancellor Rachel Reeves makes a U-Turn on decision to increase income tax to fill 'fiscal black hole' spending gap as plan breaks Labour's manifesto pledge

Economics

1 week ago University of Aberdeen: Over 40 staff take redundancy or retire amid funding crisis

The move is part of a number of measures taken by the university to tackle a funding black hole.

Events

1 week ago £19million black hole at Sadiq Khan's Greater London Authority revealed as staff warned of job cuts

Full details emerge of feared shortfall in funding, days after 1,500 staff received email alerting them to risk of possible job losses

Events

1 week ago Greater London Authority's £19million black hole revealed as staff warned of job cuts

Full details emerge of feared shortfall in funding, days after 1,500 staff received email alerting them to risk of possible job losses

Events

1 week ago Rachel Reeves' 'war on fun' gambling tax explained – and what it could mean for you

The Chancellor's Autumn Budget at the end of the month could see the gambling industry hit with tax hikes as a means for plugging the massive £30bn black hole in public finances

Events

1 week ago HMRC could launch whistleblower reward scheme worth millions at Budget

HMRC is expected to announce the move at the Budget, in a bid to plug a fiscal black hole

Economics

2 w. ago 49ers have set Rangers back after throwing £40m into a black hole – Saturday Jury

The Record Sport team are put on the spot over the major issues in Scottish football

Economics