11 h. ago Investor fright over Reeves’ tears shows fragility of UK finances

Market fears that replacing chancellor would imperil fiscal rules

Economics

17 h. ago Rachel Reeves says her tears were NOT caused by spat with Speaker or PM as she hints at 'personal issue'... and is still 'totally' up for being Chancellor

Chancellor Rachel Reeves was flanked at the event in London by Keir Starmer - who gave her an awkward hug - and Health Secretary Wes Streeting.

Politics

17 h. ago Markets rally after Starmer says Reeves to remain chancellor and backs fiscal rules

Move partially reverses sell-off prompted by investor fears chancellor would be sacked after emotional PMQs appearance

Politics

18 h. ago No one's buying it, Rachel! As Starmer awkwardly hugs his Chancellor for the cameras, at least one onlooker can't hide her scepticism

Chancellor Rachel Reeves was flanked at the event in London by Keir Starmer - who gave her an awkward hug - and Health Secretary Wes Streeting.

Events

19 h. ago Gilts rally after Starmer says Reeves to remain chancellor and backs fiscal rules

Move partially reverses sell-off prompted by investor fears chancellor would be sacked after emotional PMQs appearance

Politics

20 h. ago Operation Save Rachel: Keir says he didn't NOTICE his Chancellor crying at PMQs as he guarantees her job amid market panic

Keir Starmer gave a guarantee that Rachel Reeves will remain in her job 'into the next election and for many years after' amid continuing mystery over her public show of emotion.

Politics

21 h. ago Operation Save Rachel: Keir scrambles to shore up weeping Reeves and guarantees her job after her tears triggered market drop

Sir Keir said her tears had 'nothing to do with politics' or Labour's embarrassing U-turns on benefits - insisting she cried over something 'personal' without expanding further.

Politics

21 h. ago Gilts rally after Starmer says Reeves to remain chancellor for ‘a long time’

Move partially reverses sell-off prompted by investor fears chancellor would be sacked after emotional PMQs appearance

Politics

22 h. ago Keir Starmer insists Rachel Reeves 'will remain chancellor into the next election and for many years after'...as markets tumble and No10 frantically denies bust

Sir Keir said her tears had 'nothing to do with politics' or Labour's embarrassing U-turns on benefits - insisting she cried over something 'personal' without expanding further.

Politics

33 h. ago No 10 defends chancellor after day of bitter recriminations over welfare bill fiasco

Rachel Reeves said to have PM’s full backing after she was in tears in the Commons amid fallout of Labour’s welfare bill U-turnKeir Starmer has been forced to defend his chancellor after a day in which the bitter recriminations over Labour’s welfare bill fiasco appeared to leave Rachel Reeves in tears and the markets in turmoil.Ministers said there would be long-lasting implications for the government’s spending priorities after it was forced to abandon the central plank of its welfare changes to prevent a damaging defeat by rebel MPs. Continue reading...

Economics

39 h. ago Reeves has Starmer’s full backing, says No 10 after chancellor’s tears in Commons

Downing Street says there will be no reshuffle, after Kemi Badenoch claims Labour MPs regard Reeves as ‘toast’UK politics live – latest updatesDowning Street has insisted Rachel Reeves will stay in post and has not offered her resignation, after the chancellor was in tears at prime minister’s questions on Wednesday.Reeves wiped away a tear after a series of questions from the Tory leader, Kemi Badenoch, who said Labour MPs had said she was “toast”. Badenoch suggested Keir Starmer had failed to confirm Reeves would stay in post until the election. Continue reading...

Politics

39 h. ago Rachel Reeves will stay as chancellor, says No 10 after her tears in Commons

Reeves appears upset in parliament, but has PM’s ‘full backing’, as her spokesperson says it is a personal matterUK politics live – latest updatesDowning Street has insisted Rachel Reeves will stay in post and has not offered her resignation, after the chancellor was in tears at prime minister’s questions on Wednesday.Reeves wiped away a tear after a series of questions from the Tory leader, Kemi Badenoch, who said Labour MPs had said she was “toast”. Badenoch suggested Keir Starmer had failed to confirm Reeves would stay in post until the election. Continue reading...

Politics

3 d. ago Pyrrhic victory on UK welfare shows need for systemic reform, analysts say

Think-tanks argue sensitive policy change should not be driven by need to meet fiscal rules

Politics

6 d. ago Reeves expected to freeze income tax thresholds to raise funds after welfare U

Government’s concessions over welfare cuts leave chancellor with a growing hole in her budgetRachel Reeves is expected to extend a freeze on income tax thresholds to raise fresh funds after the government’s U-turn on welfare cuts left her with a growing budget hole.The chancellor was already facing pressure to backtrack on pledges not to increase taxes further as she attempted to fix public services and grow the economy while meeting her fiscal rules. Continue reading...

Economics

6 d. ago Reeves expected to freeze income tax thresholds to raise fresh funds

Government’s U-turn on welfare cuts leaves chancellor with a growing hole in her budgetBusiness live – latest updatesRachel Reeves is expected to extend a freeze on income tax thresholds to raise fresh funds after the government’s U-turn on welfare cuts left her with a growing budget hole.The chancellor was already facing pressure to backtrack on pledges not to increase taxes further as she attempted to fix public services and grow the economy while meeting her fiscal rules. Continue reading...

Economics

2 w. ago Reeves braced for OBR forecasts to blow £20bn hole in tax and spending plans

Downgrades by Treasury watchdog could force chancellor to raise taxes or cut spending at budget to meet fiscal rulesRachel Reeves is braced for revised forecasts by the Office for Budget Responsibility (OBR) to blow a £20bn hole in her tax and spending plans before the autumn budget.Even without changing the totals the chancellor set out in her spending review on Wednesday, a weaker forecast from the the Treasury’s independent watchdog could force her to find significantly more money at the budget to meet her “non-negotiable” fiscal rules. Continue reading...

Economics

3 w. ago ‘Painful’ budget measures likely, say economists as Chancellor lifts spending

On Wednesday, Rachel Reeves said it was non-negotiable to meet her fiscal rules.

Economics

4 w. ago Badenoch challenges Starmer at PMQs over winter fuel payment U

Tory leader says PM should apologise to pensioners and asks how U-turn will be fundedReeves says her changes to the fiscal rules last year will make more investment possible.The decisions that we made in October mean that, for the first time, the Treasury actually takes account of the benefits and not just the costs of investment, and together, the fiscal rules mean that, unlike our predecessors, we will not be balancing the books by cutting investment.And that is why we can increase investment by over £113bn more than the last government plans, meaning public investment will be at its highest sustained level since the 1970s.I have had to say no to things that I want to do too, but that is not because of my fiscal rules. It is the result of 14 years of Conservative maltreatment of our public services, our public realm and of our economy. Continue reading...

Politics

4 w. ago Reeves to stick to fiscal rules amid budget wrangles ahead of spending review

The Chancellor said there were ‘good things’ that would not be able to happen due to the tight spending settlement.

Economics