2 h. ago Tax hike fears mount after government borrowing jumps in May

The ONS said borrowing surged to £17.7 billion last month, the second highest figure on record for May

Politics

6 h. ago Pressure grows on Reeves to raise taxes as borrowing hits £17.7bn in May

The borrowing was the highest on record for May outside the pandemic

Economics

22 h. ago Interest rates UK: Bank of England move today could make a mortgage more costly

The rate decision offers little relief as bills stay high and pressure on households grows 💸

Economics

47 h. ago Bank of England ‘unlikely’ to cut interest rates as inflation pressure grows

Most economists think the Bank of England’s Monetary Policy Committee (MPC) will opt to keep rates on hold when it meets on Thursday.

Economics

5 d. 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

7 d. ago What we teach boys – and what they learn anyway: Does masculinity always have to be toxic?

In a world of the manosphere and ‘Your Body, My Choice’, can masculinity be positive, or is all always toxic? Holly Baxter speaks to the experts, including trans men who were raised as girls, about the complicated process of bringing up boys

Events

7 d. ago Spanish PM apologises to voters after MP resigns over corruption allegations

Pressure grows for snap election as judge finds ‘firm evidence’ of Santos Cerdán’s possible role in kickbacksSpain’s prime minister, Pedro Sánchez, has apologised to voters but ruled out a snap election after a senior member of his Spanish Socialist Workers’ party (PSOE) resigned hours after a supreme court judge found “firm evidence” of his possible involvement in taking kickbacks on public construction contracts.Sánchez, who became prime minister in 2018 after using a motion of no confidence to turf the corruption-mired conservative People’s party (PP) out of government, is already contending with a series of graft investigations relating to his wife, his brother, his former transport minister, and one of that minister’s aides. All deny any wrongdoing. A former PSOE member was recently implicated in an alleged smear campaign against the Guardia Civil police unit investigating the corruption allegations. Continue reading...

Politics

7 d. ago Reeves will be forced to raise taxes this autumn, economists predict

UK chancellor warned ‘something important may have to give’ to fill expected fiscal hole

Economics

8 d. ago Reeves only a ‘gnat’s whisker’ from having to raise taxes in autumn, says IFS – UK politics live

Institute for Fiscal Studies says figures for projected departmental efficiencies savings from Treasury are not credibleReeves gambles on ‘renewing Britain’ to win voters’ trustRachel Reeves is now on ITV’s Good Morning Britain. Susannah Reid and Richard Madeley are interviewing her.Q: You must be disappointed about the growth figures? Continue reading...

Politics

8 d. ago Voices: Yes, ‘Renewal’ Reeves needs to raise taxes – but how will she pull it off?

The chancellor’s fiscal headroom is already compromised by her commitment to tackle child poverty, writes Sean O’Grady. So she needs luck – and to be more boring than ever – to raise the revenue she desperately needs

Politics

9 d. ago Rachel Reeves rocked by jobs slump: Shock figures show quarter of a MILLION jobs have gone since tax

In a blow that makes a mockery of the Chancellor's claim to have 'fixed the foundations' of the economy, official figures showed a quarter of a million jobs have gone since her Budget last year.

Economics

1 week ago Could an alliance of eight small countries turn out to be Europe’s anchor? | Paul Taylor

Amid geopolitical storms and the rise of populism, the ‘Nordic-Baltic eight’ is gaining clout as a bulwark of western resolveWith Europe’s political kaleidoscope spinning wildly in the populist winds, a group of northern countries is gaining weight as a geopolitical anchor. Known as the Nordic-Baltic eight (NB8 in diplomatic jargon), it brings together small northern European states that, individually, might have little clout in international security and politics. But since Russia’s full-scale invasion of Ukraine in 2022, they have wielded growing influence as a pressure group for western resolve, offering an attractive blend of democratic security, defence integration and societal resilience.Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden established their regional cooperation format in 1992, after the end of the cold war, with regular meetings of prime ministers, parliamentary speakers, foreign and defence ministers and senior government officials. It beg...

Politics

1 week ago As Rachel Reeves prepares to splurge billions on NHS and tech... will she stick to her promise NOT to raise taxes?

Rachel Reeves was last night urged to keep her promise not to hike taxes again amid fears more raids are on the way.

Economics

1 week ago Cities around the world are sinking at ‘worrying speed’ due to water pumping

Dozens of coastal cities around the world are sinking at an alarming rate due to pressures being put on local water supplies by their ever-growing populations and rising sea levels

Politics

1 week ago Unions pile pressure on Reeves to avoid cuts and impose wealth taxes

Exclusive: The TUC has ratcheted up pressure on the government to introduce wealth taxes amid a growing expectation that the chancellor will unveil a swathe of spending cuts next week

Economics

2 w. ago Kremlin and Trump aides raise nuclear war fears after Ukraine drone strike

Vladimir Putin has warned Russia will respond to Kyiv’s attacks on nuclear-capable aircraft at airfieldsAs Vladimir Putin pledges to retaliate against Ukraine for last weekend’s unprecedented drone attack, Kremlin advisers and figures around Donald Trump have told the US president that the risk of a nuclear confrontation is growing, in an attempt to pressure him to further reduce US support for Ukraine.Kirill Dmitriev, the head of Russia’s sovereign wealth fund and an important intermediary between the Kremlin and Trump’s envoy Steve Witkoff, called the Ukrainian drone strike an attack on “Russian nuclear assets”, and echoed remarks from Maga-friendly figures warning of the potential for a third world war. Continue reading...

Events

2 w. ago Reeves doubles down on pledge not to raise taxes as Britain faces cuts

The chancellor has insisted she can stick to manifesto spending pledges as experts question her grasp of the nation’s finances

Politics

2 w. ago Raise council tax, says OECD, as it gives Rachel Reeves a headache with cut to UK growth forecast

The OECD called for the Chancellor to target tax loopholes and even highlighted council tax re-evaluation as a potential way to raise revenue.

Politics

2 w. ago Reeves urged to raise taxes and cut public spending as UK growth to stall after Trump tariffs

Labour chancellor under pressure from the OECD ahead of upcoming spending review

Economics

3 w. ago Auto Trader reports growing car sales despite ‘financial pressure’ on customers

The growth across both the new and used car markets comes despite another year of high interest rates and weak consumer confidence in the UK.

Economics