19 h. ago Full list of DWP benefits rising by 1.7% from April including Universal Credit, PIP and Child Benefit

Most DWP and HMRC benefit payments are increased every year by the previous September level of inflation - this was confirmed to be 1.7% and the rise will soon hit bank accounts

Politics

5 d. ago Deluded: Rachel Reeves claimed to be delivering renewal. The reality? Our growth forecast for this year has been slashed in half

On a humiliating day for the Chancellor, she was forced to deliver a £14 billion package of emergency spending cuts to avoid breaking fiscal rules she wrote herself only five months ago.

Politics

5 d. ago ANDREW NEIL: How Rachel Reeves led to tax rises and MUCH worse after Spring Statement

A government that was elected last July with a core mission to boost Britain's economy was forced to announce the official Whitehall number cruncher had slashed its growth forecast in half.

Politics

5 d. ago Hopes rise for interest rate cut after inflation falls – but experts warn relief may be short

The Bank of England have promised a “careful” approach to reducing the rate this year

Events

5 d. ago Spring Statement 2025 LIVE: Rachel Reeves warned economic plans could be derailed as UK growth forecast slashed

Chancellor Rachel Reeves has presented her first highly-anticipated Spring Statement to parliament.

Events

5 d. ago Inflation to rise to 3.2% for 2025 as OBR slashes growth forecast

The Government’s official forecaster has also warned that interest rates are set to stay higher for longer

Economics

5 d. ago Spring statement 2025 live: OBR slashes economic growth forecast as 3m families to be hit by welfare cuts

Quarter of a million people, including 50,000 children, pushed into poverty by end of decade due to welfare reforms, according to government’s own impact assessment

Economics

5 d. ago 250,000 more people will face relative poverty after Rachel Reeves’ benefits cuts, DWP says – spring statement live

Department for work and pensions says thousands, including children, will be hit by chancellor’s reforms, as OBR forecasts UK growth to halve in 2025Spring statement 2025: key points at a glanceRachel Reeves will not be raising taxes in the spring statement today, even though there are many people on the left who would prefer taxes to rise as an alternative to public spending being cut. Reeves came into office promising only one budget-type event a year, and that is one reason why she is not hiking taxes today. But mainly it’s because she thinks Britons are relatively highly taxed already, because Labour was elected on a manifesto ruling out most of the obvious possible tax rises and because she’s not convinced a sweeping wealth tax would work.But that has not stopped campaigners calling for a wealth tax, and yesterday about 300 people attended a ‘Tax the Super-Rich’ rally outside the Treasury. It was organised by charities and social justice campaign groups, but one of the speakers...

Politics

5 d. ago Read the Chancellor's Spring Statement in full: From welfare cuts to defence spending and national living wage

All 50 pages of the spring statement were issued as a PDF by the Treasury today after the Chancellor blamed 'increased global uncertainty' as the budget watchdog slashed its economic growth forecast.

Economics

5 d. ago Spring Statement 2025 LIVE: GDP growth forecast slashed from 2% to 1% for this year, Rachel Reeves tells MPs

Chancellor Rachel Reeves has presented her first highly-anticipated Spring Statement to parliament.

Politics

5 d. ago Inflation to rise to 3.2% for 2025 as growth forecast slashed – OBR

The Office for Budget Responsibility (OBR) said on Wednesday that it expects UK gross domestic product (GDP) to rise by 1% in 2025.

Economics

5 d. ago Reeves announces welfare changes, increased defence spending and new growth forecasts – spring statement live

Chancellor OBR forecasts for UK growth halved in 2025 but up in the remaining years of this parliamentSpring statement 2025: key points at a glanceRachel Reeves will not be raising taxes in the spring statement today, even though there are many people on the left who would prefer taxes to rise as an alternative to public spending being cut. Reeves came into office promising only one budget-type event a year, and that is one reason why she is not hiking taxes today. But mainly it’s because she thinks Britons are relatively highly taxed already, because Labour was elected on a manifesto ruling out most of the obvious possible tax rises and because she’s not convinced a sweeping wealth tax would work.But that has not stopped campaigners calling for a wealth tax, and yesterday about 300 people attended a ‘Tax the Super-Rich’ rally outside the Treasury. It was organised by charities and social justice campaign groups, but one of the speakers was Carla Denyer, co-leader of the Green party...

Economics

5 d. ago Odds of May interest rate cut rise after UK inflation falls to 2.8% – business live

Rolling coverage of the latest economic and financial news, as pound dips after February’s inflation reportFurther benefits cuts planned as Rachel Reeves forced to find extra £1.6bnFive economic factors that will govern Rachel Reeves’s spring statementSterling is weakening a little, after UK inflation fell by more than expected this morning.The pound has lost nearly a third of a cent against the US dollar to $1.2915.The market reaction to this data has been minimal, as the focus remains on the Spring Statement later today.The pound has dropped slightly, but GBP/USD is down less than 20 pips so far on Wednesday, the bond markets are not open, but we think that UK Gilts will also have a mild reaction to this data. Continue reading...

Economics

6 d. ago Chancellor Rachel Reeves hit by triple blow as outlook for growth is slashed, retail sales are falling and bosses warn the high street is dying

The hat-trick of gloomy signs about the state of the economy came as the Chancellor prepared to reveal worsening official forecasts in today's Spring Statement.

Events

6 d. ago Reeves admits “further and faster” action is needed to kickstart growth

Before the statement, the Office for Budget Responsibility will publish its forecast on the UK economy, which is widely expected to slash its forecast for economic growth

Politics

1 week ago Wage growth holds firm to beat inflation while vacancies rise for first time in three years

The Office for National Statistics said regular wages growth was unchanged in the three months to January

Economics

1 week ago Yoga mats, men’s sliders and VR headsets added to UK’s inflation tracker as prices rise

Pulled pork and yoga mats are among the new additions, reflecting evolving consumer spending

Economics

2 w. ago Fresh woe for Reeves as OECD joins bodies slashing UK growth forecasts

The OECD has trimmed expectations for his year and next as it warned of looming price rises from Donald Trump 's trade war.

Events

3 w. ago ‘I hate to predict things’: Trump doesn’t rule out US recession amid trade tariffs

President downplays recent stock market volatility that followed his ducking and weaving over tariff policyDonald Trump on Sunday refused to rule out the possibility that the US economy will head into recession this year and that inflation will rise, as his chaotic trade tariffs policy cause uncertainty and market turbulence.The US president predicted that his economic goals would take time and a period of transition to bear fruit. But when asked in an interview with the Fox News show Sunday Morning Futures “are you expecting a recession this year?” he demurred.Reuters contributed reporting Continue reading...

Politics

3 w. ago DWP state pension: The pensioner payments not rising by 4.1% from April

Older Brits should bear in mind that not all elements of the state pension are increased as part of the triple lock. These elements will instead rise by 1.7% which was the rate of inflation in September 2024

Economics