13 h. ago What pension changes is Rachel Reeves considering in the budget?

One possible alteration was thought to be tax-free cash drawdowns, but the chancellor may have turned to salary sacrifice schemesRumours about what Rachel Reeves may, or may not, do to pensions in the budget continue to swirl.One much-debated possible change – cutting the amount of tax-free cash that people can take from their pensions – is said by some to be off the table, but reports have emerged that the chancellor has “salary sacrifice” pension schemes in her sights. Continue reading...

Economics

15 h. ago Levy on international students’ tuition fees not in best interest of UK, says leader of top university

Duncan Ivison, president of Manchester University, says government’s 6% surcharge plan will ‘hurt the sector’A levy on tuition fees paid by international students is “wrong”, will “hurt the sector” and is “not in the long-term interests” of the UK, according to the vice-chancellor of one of the country’s leading universities.Duncan Ivison, who took over as president and vice-chancellor of the University of Manchester (UoM) last year, was speaking ahead of the budget later this month when the chancellor, Rachel Reeves, is expected to flesh out her plans for the proposed 6% surcharge. Continue reading...

Politics

17 h. ago Personal tax thresholds £12,570 update as change 'in weeks' planned

Chancellor is set to make key changes in the Budget according to reports

Economics

18 h. ago Despite Labour rivalling Celebrity Traitors for intrigue, Rachel Reeves must be faithful to this key pledge

As we have learned from bitter experience, voters can pay a high price for Chancellors’ mistakes

Politics

27 h. ago The Chancellor's lost control: Rachel Reeves accused of presiding over most shambolic Budget in history after humiliating U

The Chancellor spent weeks laying the ground for a manifesto-breaking hike in taxes for millions of workers in this month's Budget , before sparking chaos in the City by performing a shock U-turn.

Politics

30 h. ago UK borrowing costs jump as investors lose faith in Rachel Reeves’ Budget

Gilts sell off after government ditches plan to increase income tax rates

Economics

30 h. ago UK borrowing costs jump as investors lose faith in Reeves’ Budget

Gilts sell off after government ditches plan to increase income tax rates

Economics

33 h. ago Raise personal tax allowance for state pensioners from £12,570 update as key threshold looms

Concerns are growing that Chancellor Rachel Reeves could freeze the threshold for longer - meaning those on basic pensions would pay tax

Economics

34 h. ago UK Budget process in ‘complete chaos’, says Scotland’s Finance Secretary

Reports suggest Chancellor Rachel Reeves has scrapped plans to hike income tax.

Economics

35 h. 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

36 h. 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

36 h. ago Chancellor abandons planned income tax hike because of improved forecasts

The PA news agency understands the strength of tax receipts has improved the numbers from the OBR, allowing for the U-turn.

Politics

38 h. ago Reeves dumps plan to raise income tax in screeching Budget U

Chancellor abandons plans to raise income tax over fears they could spark a huge backlash among voters and backbench Labour MPs

Economics

38 h. ago FTSE 100 Live 14 November: Index weakens, banks and builders fall amid tax u

Chancellor Rachel Reeves has reportedly abandoned plans to raise income tax on November 26.

Economics

40 h. ago FTSE 100 Live 14 November: Stocks and pound weaken amid tax u

Chancellor Rachel Reeves has reportedly abandoned plans to raise income tax on November 26.

Politics

40 h. ago Reeves not ‘playing fast and loose with people’s money’ amid tax U

Culture Secretary Lisa Nandy would not be drawn into speculation that Ms Reeves has abandoned plans for the manifesto-breaking tax hike.

Economics

41 h. ago Rachel Reeves abandons plan to raise income tax in screeching Budget U

Chancellor abandons plans to raise income tax over fears they could spark a huge backlash among voters and backbench Labour MPs

Economics

45 h. 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

48 h. ago Rachel Reeves to abandon plans to raise income tax rates in budget

Labour had laid the ground to break a manifesto pledge on taxes for working people but has now made a U-turnRachel Reeves is set to abandon a plan to raise income tax in her budget with the chancellor reportedly “ripping up” the main measures in the wake of turmoil in the party.A source told the Guardian that plans to break the manifesto pledge on income tax had been ditched by the prime minister, Keir Starmer, and the chancellor. Continue reading...

Economics

48 h. ago Rachel Reeves ‘abandons plans to hike income tax’ in Budget as families to avoid being stung for thousands of pounds

RACHEL Reeves has axed plans to raise income tax at the Budget, it has been reported. The Chancellor was expected to hike income tax in a breach of her manifesto commitment to help plug the nation’s finances. But it is understood she has now ditched those plans amid fears it could alienate voters and backbench Labour MPs, as reported...

Economics