35 h. ago Reeves to freeze thresholds after ditching planned income tax hike – reports

The Chancellor is understood to have U-turned after improved forecasting from the Office for Budget Responsibility.

Politics

42 h. ago Londoners who own expensive homes face being hammered in Budget after Reeves U

A new ‘mansion tax’ or higher council tax bands for costly properties are measures the Chancellor could announce

Politics

44 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

45 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

46 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

47 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

49 h. ago UK borrowing costs up after markets spooked by Reeves’s income tax U

Pound down 0.5% against dollar in early trading after chancellor drops plans for upcoming budgetUK politics live – latest updatesBritain’s borrowing costs have jumped while the pound has dropped after the chancellor’s extraordinary last-minute decision to ditch tax-raising plans in the upcoming budget.Interest rates on government bonds rose by more than 10 basis points in early trading, putting them on track for their worst day since 2 July, when investors responded to a tearful appearance by Rachel Reeves in the House of Commons chamber. The pound, meanwhile, dropped 0.5% against the dollar. Continue reading...

Economics

50 h. ago Reeves ditched income tax rise after improved fiscal forecast

Dramatic U-turn ahead of Budget had sparked sell-off in UK government bond market

Politics

59 h. ago Reeves urged to cut windfall tax and not ‘sacrifice’ oil and gas workers

The Chancellor is due to deliver her budget later this month.

Economics

63 h. ago London’s Luxury Home Sales Plummet as Britain Braces for Sweeping Tax Increases

London’s Luxury Home Sales Plummet as Britain Braces for Sweeping Tax Increases  Mansion Global

Economics

2 d. ago Keir Starmer faces another 'sleaze' row as Tories demand urgent probe into 'lobbying' links of PM's communications chief

There are demands for an investigation into Tim Allan, who joined the Prime Minister's team in Downing Street in September, and his ties to Strand Partners.

Politics

3 d. ago Ed Miliband urges Labour to move on after Starmer apologises to Streeting for hostile briefings from No 10 – UK politics live

Fallout from extraordinary briefing operation against Wes Streeting continues as calls grow for Starmer to sack his chief of staff Morgan McSweeneyGood morning. In an interview around this time yesterday morning, Wes Streeting, the health secretary, said that if Keir Starmer were to ring him about the anti-Streeting briefing by Starmer allies reported by the Guardian and others on Tuesday, Streeting would reply: “Why are you bothering with this.” It was an attempt to play down a new episode of Labour turmoil that has turned out to counter-productive for Starmer, but helpful for Streeting, and by the time the two men did speak last night, the conversation took a different tone.Starmer apologised to Streeting, journalists have been told. The conversation was short, and they did not discuss Morgan McSweeney, Starmer’s chief of staff, whom Starmer is now under pressure to sack. The pair also agreed they would speak again soon – which doesn’t mean much (they both attend cabinet, and have...

Politics

3 d. ago Trump signs bill to reopen the US government as he rages at Democrats and fires midterm warning shot

After 43 days, lawmakers on Capitol Hill have passed a budget to fund the U.S. government.

Events

3 d. ago House votes to end longest shutdown in US history, sending bill to Trump's desk

After 43 days, lawmakers on Capitol Hill have passed a budget to fund the U.S. government.

Politics

3 d. ago Swinney has ‘bottled it’ on nuclear, Starmer says as he urges SNP to end ban

The Prime Minister spoke after announcing the UK’s first small modular reactor in north Wales.

Events

3 d. ago Keir Starmer breaks silence on Donald Trump’s threat to sue BBC for $1bn

Sir Keir Starmer urged the BBC to “get its house in order” following Donald Trump’s threat to sue the corporation for $1billion lawsuit.

Politics

5 d. ago Minister suggests BBC should apologise to Trump over documentary as president threatens $1bn lawsuit – UK politics live

Alison McGovern speaks to media about BBC crisis as culture secretary due to address MPs in attempt to contain falloutYesterday Rachel Reeves, the chancellor, gave an interview that indicated very strongly that she will get rid of the two-child benefit cap in full in the budget. It had been reported that the government was only going to partially remove it (by replacing the cap with a softer version, like a three-child benefit cap), but Reeves signalled that the cap will go in its entirety.If anyone did not get the message, Keir Starmer has signalled exactly the same intention – only even more strongly. In an interview with Amir Khan, a doctor and ITV broadcaster, the PM said he was determined to drive child poverty down. In the clip, recorded yesterday but broadcast this morning, Starmer said:I can tell you in no uncertain terms I’m determined to drive child poverty down. It is what the last Labour government did. And it’s one of the things we were proudest of. I am personally dete...

Politics

5 d. ago Chancellor Rachel Reeves drops two major Budget hints on tax and benefits

Chancellor Rachel Reeves indicated the government will scrap the cruel two-child benefit limit at the Budget on November 26 to lift hundreds of thousands out of poverty

Economics

6 d. ago US senators strike deal in first step to ending government shutdown

Small group of Democrats joins Republicans in advancing bill to reopen government after record budget impasse

Events

6 d. ago POLL OF THE DAY: Has Keir Starmer lost control of the Labour Party?

According to a No 10 source, the premier was opposed to introducing a mansion tax in the Budget but has been ignored.

Politics