4 h. ago Rachel Reeves scrambles to play down claims she's facing a £50bn 'black hole' in the public finances as under

The Chancellor also sought to dampen speculation she is poised to announce a fresh package of tax rises on British businesses and households.

Economics

5 h. ago Reeves names last possible date for Budget as she eyes tax hikes to plug £40bn black hole

Sources tell The Independent the chancellor favours raising capital gains tax and introducing a gambling levy to plug the £40bn hole in public finances

Economics

6 h. ago Budget 2025: What taxes could Rachel Reeves put up and what does it mean for you

There is fevered speculation about the different taxes that might be in Chancellor Rachel Reeves' sights as she looks to plug a more than £20billion hole in the public finances

Economics

11 h. ago Chancellor Rachel Reeves admits economy 'is not working well enough' as she reveals Budget date

The Chancellor is facing pressure to steady the UK economy and plug a £41 billion black hole in public finances

Economics

12 h. ago FTSE 100 Live 03 September: Bond market pressure continues, date set for autumn Budget

Financial markets are on edge after yesterday’s global bonds sell-off pushed the UK’s 30-year gilt yield to its highest level since May 1998.

Economics

13 h. ago Rachel Reeves’s autumn budget will take place on 26 November

Treasury reveals date as speculation rises over potential tax increases to plug deficit in public finances of up to £40bnBusiness live – latest newsRachel Reeves’s autumn budget will take place on 26 November, the Treasury has announced, amid mounting speculation over tax increases.With the government under pressure on the economy, the chancellor has previously said measures designed to reboot growth would form the basis of her highly anticipated tax and spending plans. Continue reading...

Politics

14 h. ago FTSE 100 Live 03 September: Bond market pressure continues, Rolex retailer reassures on tariffs

Financial markets are on edge after yesterday’s global bonds sell-off pushed the UK’s 30-year gilt yield to its highest level since May 1998.

Economics

14 h. ago Cut spending to fix UK public finances, investors urge Reeves

Tax rises alone will not be enough to meet chancellor’s fiscal rules in Budget, say leading bond market figures

Economics

15 h. ago FTSE 100 Live 03 September: Index higher after bond market sell

Financial markets are on edge after yesterday’s global bonds sell-off pushed the UK’s 30-year gilt yield to its highest level since May 1998.

Politics

18 h. ago Cut spending to fix UK public finances, investors urge Rachel Reeves

Tax rises alone will not be enough to meet chancellor’s fiscal rules in Budget, say leading bond market figures

Economics

38 h. ago Keir Starmer to host Cabinet meeting after poaching top Rachel Reeves aide in No 10 reshuffle

The Prime Minister is celebrating his 63rd birthday today as he faces a host of challenges from the small boats crisis to tight public finances

Politics

58 h. ago Rachel Reeves admits Brits 'feel stuck' as dire poll finds nearly two

Chancellor Rachel Reeves is facing a brutal Budget reckoning this Autumn with warnings she has a black hole of up to £50billion to fill.

Politics

1 week ago Rachel Reeves set to launch 'stealth tax raid' on workers to help fill Labour's £50bn black hole in public finances

The Labour minister is reportedly set to introduce a six-year freeze on income tax thresholds rather than increasing them in line with the cost of living or inflation .

Economics

1 week ago Former Sri Lankan president admitted to hospital after arrest

Ranil Wickremesinghe, who faces charges of using public funds for private travel, treated for acute dehydrationSri Lanka’s former president was admitted to hospital on Saturday, a day after he was charged with using public funds to finance private international travel, as the government intensified its crackdown on corruption.Ranil Wickremesinghe, 76, was remanded in custody on Friday after being accused of using taxpayers’ money to pay for a two-day visit to the UK in September 2023 to attend a ceremony at the University of Wolverhampton granting an honorary professorship to his wife. Continue reading...

Politics

1 week ago Labour rakes record £100 BILLION of taxes in July as Rachel Reeves plots new raid on middle classes to repair 'chronically weak' public finances

The haul - the highest ever for July - was boosted by Rachel Reeves' employer national insurance raid. However, that policy is also blamed for making it harder for firms to hire.

Economics

1 week ago Which tax rises could fill the £50bn black hole in Britain’s balance sheet?

The Independent looks at Rachel Reeves’ options as she looks to fill the gaping hole in Britain’s public finances this autumn

Economics

2 w. ago Rachel Reeves considers ‘mansion tax’ to fill Treasury black hole

The chancellor is seeking ways to raise cash in the face of dire warnings about the state of the public finances

Politics

2 w. ago Worrying number of pubs and restaurants that have put prices up revealed

Tax increases announced by Labour to tackle a hole in the public finances have led to price increases and job cuts throughout the hospitality sector, say bosses, as they called for help from the Chancellor

Politics

2 w. ago Reeves explores reform to capital gains tax on expensive houses

UK Treasury considers overhaul of property levies as ministers confront a hole in the public finances of at least £20bn 

Economics

2 w. ago Reeves explores reform of capital gains tax on expensive houses

UK Treasury considers overhaul of property levies as ministers confront hole in public finances of at least £20bn 

Economics