7 h. ago Rachel Reeves denies Labour is pursuing austerity ahead of spring statement

It comes after a backlash to cuts to welfare spending and a decision to slash the aid budget to fund a boost to defence spending.

Politics

15 h. ago Rachel Reeves denies Labour is pursuing austerity as Civil Service cuts confirmed

It comes after a backlash to cuts to welfare spending and a decision to slash the aid budget to fund a boost to defence spending.

Politics

31 h. ago All UK families ‘to be worse off by 2030’ as poor bear the brunt, new data warns

Keir Starmer has been dealt a fresh blow to his living standards pledge in advance of the spring statementLiving standards for all UK families are set to fall by 2030, with those on the lowest incomes declining twice as fast as middle and high earners, according to new data that raises serious questions about Keir Starmer’s pledge to make working people better off.The grim economic analysis, produced by the respected Joseph Rowntree Foundation (JRF), comes before the chancellor, Rachel Reeves, makes her spring statement on Wednesday in which she will announce new cuts to public spending rather than increase borrowing or raise taxes, so as to keep within the government’s “iron clad” fiscal rules. Continue reading...

Events

40 h. ago Rachel Reeves says 'we can't tax and spend our way to higher living standards' in Spring Statement as high government borrowing leaves her little room for manoeuvre

The Chancellor (pictured) is under pressure to increase taxes or cut spending to successfully carry out October's Budget as borrowing has been high and growth figures have been disappointing.

Politics

62 h. ago When is the Spring Statement – and what will be in it? From taxes to spending cuts

There have also been several big policy announcements in the run-up to the event, most recently welfare changes to achieve £5 billion in spending cuts by 2029/30

Economics

3 d. ago Whitehall spending faces cuts of 11% in 'emergency budget' to balance the nation's books

The Chancellor will unveil her Spring Statement next week against the backdrop of a faltering economy and limited room for manoeuvre within her fiscal rules.

Economics

3 d. ago To slash tax or splash cash... voters split on what Rachel Reeves must do in Spring Statement

An Ipsos survey found 31 per cent of voters believe Rachel Reeves should cut taxes, even if it means spending less on public services.

Politics

3 d. ago Government not ‘blindly cutting spending’ or heading for austerity – minister

Chief Secretary to the Treasury Darren Jones also said cuts to spending at next week’s spring statement would not be an admission of economic failure.

Politics

3 d. ago Austerity fears grow as Reeves plans major spending cuts in spring statement

A swathe of spending cuts are expected in order to balance the books amid the worsening economic outlook

Politics

3 d. ago Chancellor Rachel Reeves prepares huge spending cuts to prevent tax hikes as spring statement looms

Whitehall budgets could be slashed by billions of pounds more than previously expected in a blow to public services

Economics

3 d. ago Chancellor to announce huge spending cuts in spring statement

‘I don’t know how much longer we can go on pretending this is not austerity’

Politics

4 d. ago UK politics live: Rachel Reeves ‘to announce biggest spending cuts since austerity’ in spring statement

Chancellor to lay out plans a week after Labour slashed welfare bill by £5bn

Politics

4 d. ago Where else will the axe fall as the economy stalls? Rachel Reeves 'must still slash £10bn from spending' in Spring Statement next week despite Labour uproar at crackdown on benefits

Rachel Reeves' Spring Statement next Wednesday had originally been billed as a low-key update, after she vowed only to hold one Budget a year.

Economics

5 d. ago The UK is cutting welfare spending to urge people to work. Critics say it will hurt the vulnerable

Britain’s Labour Party government has announced an overhaul of the welfare system it says will save the cash-strapped administration 5 billion pounds, or $6.5 billion

Economics

5 d. ago Universal Credit and work capability assessment explained including the changes announced today

The shake-up comes as Labour moves ahead with its plans to cut benefit spending by billions of pounds by pushing more people back into work - but what exactly could be announced today?

Politics

5 d. ago PIP disability benefits cuts live: Liz Kendall set to slash DWP spending risking Labour fury

A package of reforms to sickness and disability benefits is set to be signed off today by Sir Keir Starmer's Government which could cut billions but has led to Labour backbench anger

Events

7 d. ago Chancellor should raise taxes not cut spending to meet fiscal rules – think tank

Rachel Reeves faces a challenge to meet her fiscal rules amid faltering growth and higher borrowing costs.

Economics

8 d. ago Prime Minister facing Cabinet revolt over 'Trumpian' plan to take axe to bloated state

Deputy Prime Minister Angela Rayner and Energy Secretary Ed Miliband are leading opposition to departmental spending cuts.

Politics

8 d. ago A million more at risk of paying 40% tax: Chancellor may extend freeze on thresholds

Rachel Reeves is under pressure to raise taxes and cut spending to plug a £10 billion gap in the public finances or risk breaking her own borrowing rules.

Economics

8 d. ago Notable Tesla investor says he hopes Musk’s government role is ‘short

Christopher Tsai retains faith in carmaker’s earnings potential despite backlash that has seen its shares take a hitA devoted investor in Elon Musk’s Tesla – and once a close childhood friend of the US president’s eldest son and namesake – says he hopes the world’s richest man’s role in cutting federal spending for Donald Trump’s administration is “short-lived” and that he returns to managing his businesses.Investment manager Christopher Tsai, whose firm has tens of millions of dollars tied up in Tesla, said the stock market had demonstrated clear signs of displeasure with Musk’s activities at the so-called department of government efficiency. And, in an interview with the Guardian, Tsai said: “I hope his involvement with [Doge] is short-lived so he can spend even more time on his businesses.” Continue reading...

Politics