17 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

45 h. ago UK economy was doing even better than previously thought under the Tories before Labour took power, figures show

The revised GDP data adds to the evidence of Rachel Reeves ' dismal stewardship just days after the Budget watchdog halved its forecast for growth this year.

Politics

48 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

62 h. ago Rachel Reeves considers fresh tax raid on savers in bid to balance books

HMRC estimates that an extra 893,000 people will have to pay tax on savings by 2028-29

Economics

3 d. ago UK politics live: Starmer vows to ‘put national interest first’ as he seeks deal with Trump over car tariffs

The US is the second largest export market after the European Union for cars built in the UK

Politics

3 d. ago UK politics live: Rachel Reeves may raise taxes ‘even further’ in autumn budget, IFS warns

Ms Reeves has denied there would be further tax rises or spending cuts at the Budget in the autumn but stopped short of ruling them out entirely

Events

3 d. ago UK politics live: Business secretary calls for ‘cool heads’ after Reeves vows not to ‘escalate US trade wars’

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

Politics

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 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 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 Trump tariffs: Britain scrambling to strike last minute deal to avoid 25% levies on car imports to US

The US president’s tariff on cars move came only hours after Britain’s budget watchdog warned the levies could force Chancellor Rachel Reeves to raise taxes or cut spending

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

3 d. ago Spring statement latest: Reeves rejects warning that welfare reforms could push 250,000 into poverty

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

Events

3 d. ago ‘At odds with reality’ – British media react to Chancellor’s spring statement

While some warned of further uncertainty, others accused Ms Reeves of mismanaging public finances.

Politics

3 d. ago Confidence is key, but the Spring Statement didn't deliver much of it for personal finances

Tom Ham, group chief executive at Calton, discusses whether Rachel Reeves delivered a Budget or statement and what its impact will be on finances

Politics

3 d. ago UK politics latest: Reeves refuses to rule out more cuts amid growing Labour backlash

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

Politics

4 d. ago Rachel Reeves' emergency budget was a humiliation and it confirmed what we knew already... Labour isn't working, writes MEL STRIDE

MEL STRIDE: Rachel Reeves' emergency budget was a humiliation. It confirmed what I'm sure many Daily Mail readers knew already: Labour isn't working.

Economics

4 d. ago Tax rise warning for millions as Rachel Reeves refuses to rule out Autumn Budget raid after Spring Statement

The Chancellor said to be at the ‘mercy of events’ by not building up a bigger fiscal cushion

Events