18 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

48 h. ago DAILY MAIL COMMENT: 'Awful April' will be the cruellest month

You've got to hand it to Rachel Reeves. Despite her lamentable Spring Statement being savaged across the political spectrum, the Chancellor is putting a brave face on it.

Politics

48 h. ago Watch: Rachel Reeves holds press conference after spring statement backlash

Watch again as Rachel Reeves held a press conference on 26 March following backlash to her spring statement.

Politics

49 h. ago Reeves’s spring statement almost as unpopular as Truss’s disastrous mini

Just one in five voters believe Rachel Reeves is doing a good job, as chancellor’s approval rating plunges towards that of her predecessor Kwasi Kwarteng prior to him being sacked

Events

59 h. ago Self employed to face higher fines for paying late tax returns

Chancellor Rachel Reeves announced the new measure during the Spring Statement.

Economics

60 h. ago ‘Was this new age austerity always coming?’ Your spring statement questions answered by Andrew Grice

In this exclusive Q&A session, The Independent’s political commentator Andrew Grice tackles welfare cuts, taxation, and the economic challenges facing the UK

Politics

3 d. ago What Trump's trade war means for YOU: As tariffs throw markets into turmoil, what investors should do

The ink was barely dry on Rachel Reeves' Spring Statement before her plans to balance the nation's books were effectively blown out of the water.

Economics

3 d. ago Rachel Reeves' Spring Statement: Experts react to controversial changes – 'she'll need more'

The spring statement, worsening economy and Donald Trump's latest trade tariffs on cars has led to renewed speculation about more tax rises to come and a further hit to hard-up households

Politics

3 d. ago Wealthy and pensioners at risk of new tax raid in autumn Budget, experts warn

Labour chancellor has stopped short of ruling out further tax rises or spending cuts at the Budget

Events

3 d. ago What Trump's trade war means for YOU: As the President's tariffs throw markets into turmoil, read our expert's advice on what British investors should do to protect themselves

The ink was barely dry on Rachel Reeves' Spring Statement before her plans to balance the nation's books were effectively blown out of the water.

Economics

3 d. ago ‘Good chance’ Reeves will have to raise taxes in autumn budget, thinktank says – UK politics live

Institute for Fiscal Studies also warns Reeves over her focus on sticking with fiscal rules regardless of real world eventsIn an interview with ITV’s Good Morning Britain, Rachel Reeves, the chancellor, said she would not accept free tickets for concerts again in the future.Asked about the controversy about her decision to accept two corporate tickets for a Sabrina Carpenter concert at the O2, she repeated the line that she used at her press conference yesterday – that a family member wanted to attend the concert (presumably one of her children, but she did not say that), and that she accepted tickets for a corporate box because security concerns meant it was not deemed safe for her to get normal tickets for the auditorium.I’m just saying I wouldn’t do it again. I felt I was doing the right thing. But I do understand perceptions.I am absolutely certain that our reforms, instead of pushing people into poverty, are going to get people into work.And we know that if you move from welfar...

Politics

3 d. ago The Chancellor is hopelessly boxed in and higher taxes are sadly inevitable

Big changes in the world order require big changes in fiscal policy - something is going to have to give

Politics

3 d. ago Voices: Independent readers react to Rachel Reeves’ spring statement – from ‘out of touch’ to ‘genuine poverty’

The chancellor’s spring statement sparked fierce criticism from readers, who accused her of reviving austerity by targeting the poor while failing to prioritise improving living standards, tax reform, and sustainable economic growth

Politics

3 d. ago Spring statement latest: Reeves won’t ‘escalate trade wars’ as Trump’s latest tariffs could hit UK economy

A 25 per cent tariff on vehicles imported to the US will come into effect on 2 April, the US president announced

Events

3 d. ago Three major takeaways from Spring Statement explained – including Universal Credit change

Rachel Reeves' Spring Statement could have a major effect on Brits, with many wondering what the changes announced on Wednesday (March 26) will mean for them going forward

Politics

3 d. ago Rachel Reeves 'certain' benefits cuts won't push people into hardship amid growing Labour unrest

The Chancellor was also forced to defend Treasury minister Darren Jones who compared the benefits cuts to taking pocket money away from his children

Politics

3 d. ago Reeves on a double knife edge as she could be forced to order ‘blockbuster’ tax rises, say experts

Critics said her future as chancellor is under threat as a result of errors she has made since taking charge of the economy last year

Politics

3 d. ago Reeves denies welfare cuts will increase poverty amid warning poorest set to be £500 a year worse off – UK politics live

The Resolution Foundation says the UK’s poorest will be £500 a year worse off by the end of the parliament due to the spring statementIn an interview with ITV’s Good Morning Britain, Rachel Reeves, the chancellor, said she would not accept free tickets for concerts again in the future.Asked about the controversy about her decision to accept two corporate tickets for a Sabrina Carpenter concert at the O2, she repeated the line that she used at her press conference yesterday – that a family member wanted to attend the concert (presumably one of her children, but she did not say that), and that she accepted tickets for a corporate box because security concerns meant it was not deemed safe for her to get normal tickets for the auditorium.I’m just saying I wouldn’t do it again. I felt I was doing the right thing. But I do understand perceptions.I am absolutely certain that our reforms, instead of pushing people into poverty, are going to get people into work.And we know that if you move ...

Events

3 d. ago Spring statement latest: Rachel Reeves refuses to rule out tax rises in autumn budget

Chancellor faces speculation she will be forced to find more money to balance the books

Economics

3 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