51 h. ago Jeremy Corbyn says ‘discussions are ongoing’ after Zarah Sultana claimed she would ‘co

Sultana announced on Thursday she was quitting Labour to join Jeremy Corbyn’s Independent AllianceMy colleague Lauren Almeida, who is running the Guardian’s business live blog, has shared the following:Rachel Reeves has not given herself enough fiscal headroom to manage public finances, Charlie Bean, the former deputy of the Bank of England has said, and has to “neurotically fine tune taxes”.About £10bn – that’s a very small number in the context of overall public spending. Government spending is about one and a quarter trillion so £10bn is a small number and it is a small number in the context of typical forecasting errors.You can’t forecast the future perfectly both because you can’t forecast the economy and you can’t forecast all the elements of public finances . The forecasts are imprecise and there is no way you can avoid that. That is a fact of life.In light of reports of atrocities committed by the Israeli government in Gaza and reports of the UK’s collaboration with Israeli ...

Politics

53 h. ago Home secretary rejects Zarah Sultana’s claim Labour failing to improve lives – UK politics live

Sultana announced on Thursday she was quitting Labour to join Jeremy Corbyn’s Independent AllianceMy colleague Lauren Almeida, who is running the Guardian’s business live blog, has shared the following:Rachel Reeves has not given herself enough fiscal headroom to manage public finances, Charlie Bean, the former deputy of the Bank of England has said, and has to “neurotically fine tune taxes”.About £10bn – that’s a very small number in the context of overall public spending. Government spending is about one and a quarter trillion so £10bn is a small number and it is a small number in the context of typical forecasting errors.You can’t forecast the future perfectly both because you can’t forecast the economy and you can’t forecast all the elements of public finances . The forecasts are imprecise and there is no way you can avoid that. That is a fact of life.In light of reports of atrocities committed by the Israeli government in Gaza and reports of the UK’s collaboration with Israeli ...

Society

3 d. ago Business news live: Pound and bonds recovering after Reeves gets backing, NS&I issue new Junior ISA rate

Stock markets updates and business news from Thursday

Politics

3 d. ago ‘Clearly I was upset,’ says Reeves as she responds to questions about tears at PMQs – UK politics live

Chancellor says tears due to ‘a personal issue’ but it was her job to be at PMQs supporting Keir StarmerStreeting says he has to go to the Commons to make a statement to MPs.But first he introduces Rachel Reeves, saying that she has put an extra £29bn into the NHS.It is thanks to her leadership that we’ve seen interest rates in our country fall four times. It’s thanks to her leadership that we see wages finally rising faster than the cost of living. And it’s thanks to her leadership we have the fastest growing economy in the G7.If Australia can effectively serve communities living in the remote outback, we can meet the needs of people living in rural England.If community health teams can go door to door to prevent ill health in Brazil, we can do the same in Bradford. Continue reading...

Politics

3 d. ago UK politics live: Rachel Reeves says she was ‘clearly upset’ but it was her job to support government at PMQs

Reeves rejected suggestions that her tears at PMQs were related to a conversation with Commons Speaker Sir Lindsay Hoyle

Politics

3 d. ago Starmer defends Reeves but refuses to rule out tax rises as he announces 10

PM says only possible to transform the NHS due to decisions taken by chancellor, and denies the pressure is too much for herStreeting says he has to go to the Commons to make a statement to MPs.But first he introduces Rachel Reeves, saying that she has put an extra £29bn into the NHS.It is thanks to her leadership that we’ve seen interest rates in our country fall four times. It’s thanks to her leadership that we see wages finally rising faster than the cost of living. And it’s thanks to her leadership we have the fastest growing economy in the G7.If Australia can effectively serve communities living in the remote outback, we can meet the needs of people living in rural England.If community health teams can go door to door to prevent ill health in Brazil, we can do the same in Bradford. Continue reading...

Politics

3 d. ago UK politics live: Rachel Reeves breaks cover after crying in Commons during PMQs

Starmer cheered Reeves on her way to the podium to speak about the NHS 10-year-plan

Politics

3 d. ago PM shoulders blame for welfare fiasco and says No 10 ‘didn’t get process right’

Keir Starmer says Downing Street should have engaged more with Labour MPs and repeats support for Rachel ReevesUK politics live – latest updatesKeir Starmer has admitted No 10 “didn’t get the process right” in handling the government’s controversial welfare bill and says he shoulders the blame.Looking to repair some of the damage done by Labour’s 11th hour climbdown on the central plank of its welfare changes, Starmer said the government would reflect on its mistakes. Continue reading...

Politics

3 d. ago Business news live: Pound and bonds recovering after Reeves backed by Starmer, Microsoft cut 4% of staff

Stock markets updates and business news from Thursday

Politics

3 d. ago Keir Starmer LIVE: PM to give major speech after Rachel Reeves seen crying

Keir Starmer has admitted that the last few days have been tough after he was forced to tear up welfare reforms and Chancellor Rachel Reeves was seen crying in the Commons at PMQs

Politics

3 d. ago Business news live: Bonds yield concern remains after Reeves backed by Starmer, Microsoft cut 4% of staff

Stock markets updates and business news from Thursday

Politics

3 d. ago Business news live: Bonds latest after yields rise and Microsoft cut 4% of workforce in AI push

Stock markets updates and business news from Thursday

Economics

4 d. ago Rachel Reeves had 'altercation' before entering Commons as Downing Street responds to teary appearance at PMQs: Live updates

LIVE UPDATES: Follow MailOnline's live coverage as Chancellor Rachel Reeves made a visibly upset appearance in Parliament during Prime Minister's Questions.

Politics

4 d. ago Reeves has Starmer’s full backing, says No 10 after chancellor’s tears in Commons

Downing Street says there will be no reshuffle, after Kemi Badenoch claims Labour MPs regard Reeves as ‘toast’UK politics live – latest updatesDowning Street has insisted Rachel Reeves will stay in post and has not offered her resignation, after the chancellor was in tears at prime minister’s questions on Wednesday.Reeves wiped away a tear after a series of questions from the Tory leader, Kemi Badenoch, who said Labour MPs had said she was “toast”. Badenoch suggested Keir Starmer had failed to confirm Reeves would stay in post until the election. Continue reading...

Politics

4 d. ago Rachel Reeves will stay as chancellor, says No 10 after her tears in Commons

Reeves appears upset in parliament, but has PM’s ‘full backing’, as her spokesperson says it is a personal matterUK politics live – latest updatesDowning Street has insisted Rachel Reeves will stay in post and has not offered her resignation, after the chancellor was in tears at prime minister’s questions on Wednesday.Reeves wiped away a tear after a series of questions from the Tory leader, Kemi Badenoch, who said Labour MPs had said she was “toast”. Badenoch suggested Keir Starmer had failed to confirm Reeves would stay in post until the election. Continue reading...

Politics

1 week ago Keir Starmer admits government has ‘asked a lot’ of business, and defends employment rights bill – business live

PM tells BCC conference businesses have made a ‘huge difference’, following the tax rises in the last budgetFull story: Shell has ‘no intention’ of making offer to buy BP after £60bn takeover rumoursStarmer then tells the BCC conference that the spending review earlier this month is a “clear shift” towards investing in the future of the UK, not simply tackling the promises it inherited.Starmer says his administration have “wiped the slate clean”, stabilized the economy, and can now move onto building a fairer Britain, with change and renewal.‘I fully acknowledge that this year, as we’ve had to fix the foundations of our country, [and] deal with the unprecedented mess that we inherited, we’ve asked a lot of you.I understand that, and I want to acknowledge that.They are all vital for the long-term growth of our country. But none of that would have been possible without your contribution. Continue reading...

Politics

3 w. ago UK’s FTSE 100 share index hits record closing high despite economy shrinking in April – business live

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumped.. but FTSE 100 ends at new record closeFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, t...

Economics

3 w. ago Reeves only a ‘gnat’s whisker’ from having to raise taxes in autumn, says IFS – UK politics live

Institute for Fiscal Studies says figures for projected departmental efficiencies savings from Treasury are not credibleReeves gambles on ‘renewing Britain’ to win voters’ trustRachel Reeves is now on ITV’s Good Morning Britain. Susannah Reid and Richard Madeley are interviewing her.Q: You must be disappointed about the growth figures? Continue reading...

Politics

3 w. ago Largest ever plunge in UK exports to US as Trump tariffs hurt growth; dollar hits three

UK economy shrank by 0.3% in April, biggest fall since October 2023, as trade with the US slumpedFull story: UK economy shrinks by 0.3% as as exports hit by Trump trade warNicholas Hyett, Investment Manager at Wealth Club, blames “a cocktail of headwinds to growth” for the 0.3% fall in UK GDP in April.Hyett says:In the very short term the change to Stamp Duty rules have put the legal and property services on ice - with legal activities down 10.2% month-on-month.New barriers to trade with the US and changes to employment costs, from a higher living wage and increased national insurance contributions, are a longer term challenge.“The 0.3% m/m fall in real GDP in April supports our view that the strength in Q1 was unsustainable. This won’t prompt the Bank of England to cut interest rates next Thursday. But it is one more piece of news pointing to another cut in August.”We still expect the Bank Rate to be maintained at 4.25% in the June meeting, to allow still troubling earnings growth ...

Politics

3 w. ago Government Spending Review 2025: Economy shrinks as NHS spending surges and struggling councils miss out

From a surprise economic slump and warnings of a “National Health State”, to council funding concerns, a 74 per cent house price surge, and rising Tesco sales - here are today’s top UK business stories.

Politics