3 h. ago Rachel Reeves faces '£20billion Budget black hole' as downgrade fuels tax rise fears

The Chancellor is grappling with a big headache - the UK's woeful productivity - which could trigger the need for spending cuts and tax rises in the Budget

Economics

6 h. ago Fears grow over big tax rises in Budget as Rachel Reeves hit with £20 billion productivity blow

The Office for Budget Responsibility is set to downgrade its productivity forecasts by more than expected

Economics

6 h. ago Productivity bombshell leaves Brits facing BIGGER tax rises next month and 'blows a £20bn hole in Reeves' Budget'

The Office for Budget Responsibility (OBR) watchdog is reportedly poised to cut its trend productivity forecast by about 0.3 percentage points in its upcoming projections.

Economics

20 h. ago Rachel Reeves told to target wealthy in Budget as tax rises and spending cuts on the table

Researchers argued that deepening wealth inequality was creating existential risks to society as they warned that the gap between the richest and poorest has widened

Economics

28 h. ago Rachel Reeves hints at tax rises in Budget as she heads to Riyadh in search of trade deal

The chancellor is widely expected to use the Budget to increase taxes once again, with the Institute for Fiscal Studies estimating she needs to find £22bn of tax rises or spending cuts to meet her self-imposed fiscal rule

Economics

28 h. ago Rachel Reeves warns the rich will have to 'contribute' more taxes after Budget and can only say burden on squeezed middle earners will be kept as 'low as possible'

The Chancellor said the Government needed to ensure there is 'sufficient headroom' above its spending plans when she reveals her next fiscal package on 26 November.

Events

28 h. ago Millions of households to be hit with tax rises in the Budget, Chancellor Rachel Reeves signals

The Chancellor told an economic forum in Saudi Arabia that she would avoid growth-busting new levies on businesses

Economics

29 h. ago Rachel Reeves reveals tax rises and spending cuts ARE being considered at Budget as she scrambles for Gulf trade deal on Saudi Arabia visit

The Chancellor said the Government needed to ensure there is 'sufficient headroom' above its spending plans when she reveals her next fiscal package on 26 November.

Economics

29 h. ago Trump meets with Japanese emperor and says he may sign China

The president’s Asia tour began on Sunday in Malaysia with a swirl of activity, including announcing another ‘historic peace deal plus U.S. sanctions on Russia and trade penalties against Canada

Politics

30 h. ago Trump arrives in Japan for meeting with emperor and says he may sign China

The president’s Asia tour began on Sunday in Malaysia with a swirl of activity, including announcing another ‘historic peace deal plus U.S. sanctions on Russia and trade penalties against Canada

Politics

30 h. ago Rachel Reeves scrambles to push through a Gulf trade deal as she bids to convince forecasters her growth plans will ease her need for tax rises

The Chancellor is using a visit to Riyadh this week to try to make progress on an agreement with the Gulf Co-operation Council (GCC).

Economics

47 h. ago US and China reach ‘final deal’ on TikTok sale, treasury secretary says

Scott Bessent said plan was part of framework for trade deal but did not share details on transferring app’s ownershipMurdoch, Ellison and China: what we know about the US’s TikTok dealUS treasury secretary Scott Bessent claimed on Sunday that the US and China have finalized the details of a deal transferring TikTok’s US version to new owners.“We reached a final deal on TikTok,” Bessent said on Sunday on CBS’s Face the Nation with Margaret Brennan. Alluding to Donald Trump and his Chinese counterpart, Xi Jinping, Bessent continued: “We reached [a deal] in Madrid, and I believe that as of today, all the details are ironed out, and that will be for the two leaders to consummate that transaction” during a meeting scheduled for Thursday in Korea. Continue reading...

Economics

57 h. ago Trump signals regional trade deals as he kicks off Asia tour

President hails ceasefire deal between Thailand and Cambodia as US and Chinese officials conclude trade talks

Politics

4 d. ago Rachel Reeves 'considering breaking Labour manifesto pledge with income tax rise at Budget'

Treasury discussions to fill estimated £30billion gap include possibly adding 1p to basic rate or raising higher or additional tax rates

Economics

4 d. ago Manufacturers hit by weakest demand for orders since 2020 amid Budget fears

MANUFACTURERS have seen the weakest demand for orders since 2020, amid high energy costs and fears about Budget tax rises. The Confederation of British Industry’s report found business sentiment has deteriorated. Manufacturing output fell in the three months to October. It was driven by metal products, metal manufacture and electronic engineering sub-sectors. Quarterly domestic and...

Economics

7 d. ago Donald Trump and Australian prime minister Anthony Albanese sign rare earth minerals deal – US politics live

US president says ‘we’re here to talk about trade, submarines, lots of military equipment’ as Albanese says deal is ‘$8.5bn pipeline’ to supply rare earths to USThe Senate will vote, for the 11th time, on a House-passed funding bill that would reopen the government at 5.30pm today.As the government shutdown enters its 20th day, there is little end in sight. The lower chamber is still out of session, as both parties continue to trade barbs over the lapse in funding. Continue reading...

Politics

8 d. ago Reeves set to announce more tax rises in 16 months than Gordon Brown did in 10 YEARS as Chancellor blames Brexit ahead of Budget

Estimates by the OBR watchdog show Gordon Brown's fiscal events between 1997 and 2007 were 'scored' as adding just under £59billion a year to revenues.

Economics

8 d. ago Holidays will cost more if taxes are hiked in Budget, say travel bosses

Rachel Reeves has acknowledged she is looking at potential tax rises and spending cuts in her Budget on November 26.

Economics

9 d. ago Ed Miliband denies his Net Zero policies are keeping Brits' energy costs high

The Energy Secretary insisted it was 'not correct' to suggest Labour's bid for a decarbonised electricity grid was increasing the burden on families.

Events

1 week ago Labour tax pledge stands, says No 10, as Reeves rolls pitch for hikes on wealthy

The Chancellor has acknowledged she is looking at potential tax rises and spending cuts at her November 26 Budget.

Economics