68 h. ago Starmer and Reeves face grilling as Trump prepares ‘liberation day’ tariffs

Economists have warned US tariffs could wipe out the Chancellor’s ‘headroom’ against her debt rules, requiring more cuts or tax rises.

Politics

3 d. ago Ryan Reynolds' Wrexham wary of being 'caught with pants down' after financial admission

Wrexham have enjoyed a huge financial boost from the documentary charting the club's Hollywood ownership, but officials say they are wary of becoming too reliant on it continuing

Events

4 d. ago Clean energy spending boosts GOP districts. But lawmakers are keeping quiet as Trump targets incentives

We asked 18 Republicans whose districts benefit most from Biden’s IRA climate law if they back Trump’s demandsBillions of dollars in clean energy spending and jobs have overwhelmingly flowed to parts of the US represented by Republican lawmakers. But these members of Congress are still largely reticent to break with Donald Trump’s demands to kill off key incentives for renewables, even as their districts bask in the rewards.The president has called for the dismantling of the Inflation Reduction Act – a sweeping bill passed by Democrats that has helped turbocharge investments in wind, solar, nuclear, batteries and electric vehicle manufacturing in the US – calling it a “giant scam”. Trump froze funding allocated under the act and has vowed to claw back grants aimed at reducing planet-heating pollution. Continue reading...

Politics

9 d. ago Rising debt and spending demands: the squeeze on Britain’s finances — in charts

UK gross government debt rose from 85.7% of GDP in 2019 to 101.8% in 2024

Economics

9 d. ago Global rise in borrowing costs to blame for UK’s higher debt spending – Reeves

Rising borrowing costs are expected to eliminate the Chancellor’s headroom against her self-imposed fiscal rules.

Economics

2 w. ago Racing through Net Zero plans 'could wipe 10 per cent off the GDP and crash Britain's economy', leaked documents show

Leaked documents show Labour's Net Zero plans could lead to a financial crash and a huge rise in the country's national debt by the end of the decade.

Events

2 w. ago Bundestag prepares to vote on historic borrowing package in key test for Merz

Likely next chancellor needs two-thirds majority to back €500bn infrastructure fund and relaxation of debt rulesGermany’s likely next chancellor is to face a key vote on plans to unlock a record level of state borrowing, which he argues is necessary to boost the country’s military spending and inject growth into its ailing economy.Ahead of the crucial Bundestag vote on Tuesday, Friedrich Merz has faced a barrage of complaints from the opposition and from within his own ranks that he is not coupling the historic levels of spending planned – as much as €1tn (£840bn) – to demands for reform. Continue reading...

Politics

2 w. ago Spandau Ballet fans predict reunion after Gary Kemp shares 'best news' in shock post

Spandau Ballet stars Gary Kemp and John Keeble shared a snap of themselves spending the day together, and fans immediately demanded tour dates six years after the band was last active

Events

3 w. ago Merz presses Greens to name their terms for German defence spending rise

‘What more do you want from us?’ asks chancellor-in-waiting as he seeks urgent support for fiscal rule changesGermany’s chancellor-in-waiting has tried to win over the Greens to his ambitious but controversial plans to raise the country’s defence spending, promising to expand the scope of the plans and demanding of them: “What more do you actually want from us?”The outgoing parliament met on Thursday to debate the creation of a €500bn (£420bn) fund for infrastructure investment and radical changes in Germany’s borrowing limits in order to boost defence spending. Continue reading...

Politics

3 w. ago Merz makes offer to Greens as he seeks to increase German defence spending

Chancellor-in-waiting attempting to garner support for fiscal rule changes before new parliament convenesGermany’s would-be chancellor has attempted to win the support of the Greens for his proposed fiscal rule changes, offering to expand the scope of defence spending and demanding to know: “What more do you want from us?” The outgoing parliament is meeting to debate the creation of a €500bn (£420bn) fund for infrastructure investment and radical changes in Germany’s borrowing limits in order to boost defence spending. Continue reading...

Politics

4 w. ago Rent arrears in one part of West Lothian surges by almost £100,000 in one year

The steep climb in Armadale and Blackridge has been fuelled by a rise in small amounts of debt, as households struggle to manage their finances amid rising food and fuel costs.

Economics

last month Keir Starmer, you claim huge and damaging cuts are vital so we can buy arms and defend ourselves. Prove it | Owen Jones

Splurging the cash is not the answer to Europe’s security jitters. Let’s ignore the hyperbole and decide what’s actually neededBritain is now on a “war footing”, we are told. Earlier this year, Nato’s secretary general, Mark Rutte, demanded that European nations start hiking defence spending at the expense of pensions, health and social security. Fail to do so, he warned, and the only recourse would be to “get out your Russian language courses or go to New Zealand”.In this increasingly feverish atmosphere, it becomes ever more difficult to ask for a bit of perspective, but it is necessary. European elites are panic-stricken after Donald Trump hit the accelerator away from US hegemony, a trend already long under way. Meanwhile, Labour figures openly brief that this could be Keir Starmer’s “Falklands moment”, using Ukraine’s agony to transform the government’s calamitous polling, speaking to a grubby political opportunism. Britain’s current trajectory could raise a much graver menace ...

Politics