2 w. ago Starmer: Spending review marks new phase after first year of ‘cleaning up mess’

Sir Keir Starmer said Labour spent most of its first year since winning power in July 2024 taking ‘tough but necessary decisions’.

Politics

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 Finance convener calls on Scottish Government to ensure North Lanarkshire benefits from Chancellor’s spending review

Councillor Andrew Duffy-Lawson has urged the government at Holyrood to ensure that North Lanarkshire receives its fair share of the recently announced investment in Scottish public services as a result of the announcement from Chancellor Rachel Reeves.

Politics

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 The Spending Review: the property announcements in spending plans revealed

All the housing announcements from the Government’s Spending Review

Politics

3 w. ago UK Government ‘committed’ to Acorn carbon capture project in Scotland – minister

Kirsty McNeill said the inclusion of development funding for the scheme in the spending review shows the Government’s support for it.

Politics

3 w. ago Business news live: FTSE 100 flat as UK economy stalls after Asia stocks down overnight

Market reaction and business news ahead of the government’s spending review

Economics

3 w. ago Government Spending Review 2025: Economy shrinks as NHS spending surges and struggling councils miss out

From a surprise economic slump and warnings of a “National Health State”, to council funding concerns, a 74 per cent house price surge, and rising Tesco sales - here are today’s top UK business stories.

Politics

3 w. ago Rachel Reeves seized her moment – whatever the future brings, Labour’s economic course is now set | Martin Kettle

The chancellor is no mere technocrat: her spending review revealed a visceral commitment to social and economic mobilityThe consensus has long been that the 2025 spending review would be a defining moment for Keir Starmer’s government. For once, the consensus proved spot-on. The government’s main priorities were set out on Wednesday in a blizzard of Commons announcements from Rachel Reeves, some economically substantive, others more for show. The upshot is that the shape of the British state, as Labour intends it, is now decided until the eve of the next election.There are further crossroads still to come, some of them major, as the years covered by the review unroll. Taxes are likely to rise, probably as soon as the autumn budget, to pay for Reeves’s big ticket boosts on Wednesday for defence, health and housing. Council tax could rise too, with possibly dramatic results. The review’s emphasis on capital spending means current spending could be squeezed again, perhaps heralding pay...

Economics

3 w. ago Rachel Reeves pumps cash into NHS with 4million more tests and procedures to cut waits

The NHS and defence were big winners from the Chancellor's Spending Review as Rachel Reeves set out the Government's spending plans for the rest of the decade

Economics

3 w. ago Government can hit NHS waiting times targets despite scepticism, says Reeves

The NHS has received a 3% increase in real terms per year in the Government spending review.

Events

3 w. ago Treasury minister dismisses claims spending review will lead to autumn tax rises – UK politics live

Darren Jones says such claims are ‘incoherent’ and the government is allocating money that has already been raisedSpending review: key points at a glanceGreen party MPs and activists joined a protest outside parliament today saying the government should use the spending review to announce a wealth tax. In a post on social media, Adrian Ramsay, the party’s co-leader, said:We expect the chancellor to take another axe to public spending today: decline by design from a govt that refuses to tax wealth to properly fund our overstretched public services & support the most vulnerable. We need to invest in a secure & fairer future. #TaxExtremeWealth Continue reading...

Politics

3 w. ago Business news live: FTSE 100 closes below new high, Meta set for $15bn AI deal

Market reaction and business news ahead of the government’s spending review

Economics

3 w. ago Britain will be ‘defence industrial superpower’ with extra cash, Reeves says

Defence is one of the areas of Government spending which benefited most at the spending review on Wednesday.

Politics

3 w. ago Spending Review sees UK Government gamble on trust, not just spending

The Spending Review has sparked a row between the administrations

Politics

3 w. ago Business news live: FTSE 100 rises towards new record high, Meta set for $15bn AI deal

Market reaction and business news ahead of the government’s spending review

Economics

3 w. ago Reeves says use of hotels for asylum seekers to end ‘in this parliament’ – UK politics live

Chancellor delivers spending review, claiming asylum move will save £1bn and says health spending represents a record cash investmentSpending review: key points at a glanceGreen party MPs and activists joined a protest outside parliament today saying the government should use the spending review to announce a wealth tax. In a post on social media, Adrian Ramsay, the party’s co-leader, said:We expect the chancellor to take another axe to public spending today: decline by design from a govt that refuses to tax wealth to properly fund our overstretched public services & support the most vulnerable. We need to invest in a secure & fairer future. #TaxExtremeWealth Continue reading...

Politics

3 w. ago Business news live: FTSE 100 rises towards new record high, Google staff cuts latest

Market reaction and business news ahead of the government’s spending review

Events

3 w. ago Casement park rebuild given boost after Government pledges £50m in spending review

Northern Ireland First Minister Michelle O’Neill said it is now time to get the GAA stadium built.

Economics

3 w. ago DAN HODGES: Rachel Reeves has opted to spend like a drunken sailor on shore leave in the Chagos Islands. It's now a matter of 'when' not 'if' she comes back to pick our pockets with tax rises

After the statement Rachel Reeves just delivered to unveil the Government's Spending Review, it appears she is actually cosplaying at being the new Liz Truss, says DAN HODGES.

Economics