49 h. ago Who is running Britain’s economy – Rachel Reeves or Donald Trump?

The chancellor’s careful calculations for her spring statement are likely to be blown out of the water by a looming US trade war• From more tax to rewriting budget rules: six alternative ways Reeves could raise moneyAs Rachel Reeves powered through her spring statement on Wednesday, telling the country she was “restoring stability to the public finances” few in the House of Commons chamber seemed to know what to make of it all.Reeves’s message did not seem to resonate with the underlying mood of uncertainty and anxiety at home and abroad. Many Labour MP nodded loyally along with her, trying to impress the whips. Others on the government benches looked grave. Growth forecasts for this year had been halved. Money would have to be raised to meet the chancellor’s own fiscal rules, and the poorest would be the ones bearing the brunt. Continue reading...

Politics

4 d. ago These groups now worse off in DWP, PIP and Universal Credit cuts but four will gain

The Labour Party chancellor confirmed welfare cuts of £4.8bn, but insisted the government's priority was to restore stability to the public finances in the face of rising global borrowing costs

Politics

4 d. ago Rachel Reeves defends benefit cuts and denies further tax rises likely in autumn – UK politics live

Chancellor confirmed welfare cuts of £4.8bn in spring statement, but insisted the priority was to restore stability to the public finances Nick Robinson is interviewing Rachel Reeves on the Today programme now.Q: You promised just one budget a year, but yesterday you had to announce drastic cuts. What’s gone wrong?We’re not at the moment at a position where we want to do anything to escalate these trade wars.Trade wars are no good for anyone. It will end up with higher prices for consumers, pushing up inflation after we’ve worked so hard to get a grip of inflation, and at the same time will make it harder for British companies to export. Continue reading...

Politics

5 d. ago Spring Budget 2025 RECAP: Chancellor Rachel Reeves outlines spending cuts in Spring Statement

Chancellor Rachel Reeves has delivered her Spring Statement, confirming the 2025 growth estimate for the UK has been halved to 1 per cent by the government's official forecaster

Economics

5 d. ago Universal Credit: health element cut in Rachel Reeves' Spring Statement 2025

Reeves outlined key changes, with impacts on welfare, household income, and services 💬

Politics

5 d. ago Spring Budget 2025 LIVE: Chancellor Rachel Reeves outlines spending cuts in Spring Statement

Chancellor Rachel Reeves has delivered her Spring Statement, confirming the 2025 growth estimate for the UK has been halved to 1 per cent by the government's official forecaster

Economics

5 d. ago Keir Starmer faces PMQs before Rachel Reeves delivers spring statement – UK politics live

Chancellor is expected to announce further welfare cuts when she outlines departmental spending plansRachel 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, which is in favour of a wealth tax.Across th...

Politics

5 d. ago Spring Budget 2025 LIVE: Chancellor Rachel Reeves to outline spending cuts in Spring Statement

Welcome to The Scotsman’s live blog.

Economics

7 d. ago Spring statement 2025 latest: Rachel Reeves targets civil service cuts in bid to save £10bn

Chancellor warns ‘hard’ choices must be made in spring statement as she rules out further tax rises

Economics

8 d. ago Spring statement 2025 live: Rachel Reeves targets civil service as she is expected to seek £10bn in cuts

Chancellor warns ‘hard’ choices must be made in spring statement as she rules out further tax rises

Economics

1 week ago Reeves’ cuts to total over £10bn in bid to restore UK finances

Departmental spending squeeze and benefits crackdown part of chancellor’s bid to fill fiscal hole

Economics

1 week ago Reeves to outline more than £10bn in cuts to help restore UK finances

Departmental spending squeeze and benefits crackdown part of chancellor’s bid to fill fiscal hole

Economics

2 w. ago Reeves to outline plan to cut regulation costs and boost growth

Chancellor will meet regulators after calling for action to restrict their scope in bid to save businesses billionsRachel Reeves will meet UK regulators on Monday after calling for more action to restrict red tape and spur economic growth.The chancellor argued that government plans would reduce costly delays and disputes, saving businesses billions, and said regulators must accept a more streamlined decision-making process. Continue reading...

Politics