16 h. ago How much money Elon Musk lost because of feud with Donald Trump

Musk's government contracts were on the line as he continued to take part in a savage war with words against Trump, with their partnership breaking down over a tax-cut and spending bill.

Politics

18 h. ago Thousands to march on Whitehall in protest over spending cuts and welfare reform

The People’s Assembly said it expected thousands of trade unionists, campaigners and activists to attend the event

Events

34 h. ago Reeves hits back at spending review critics claiming ‘my choices are Labour choices’

Exclusive: As a cabinet civil war heats up over her spending review, Rachel Reeves has written for The Independent defending her motivations and choices as chancellor

Events

38 h. ago Biden dismisses Trump inquiry into his cognitive decline as a ‘distraction’

Former president says investigation of decision-making in office is designed to take focus off ‘disastrous legislation’Joe Biden accused Donald Trump of “distraction” after he launched an investigation into the former Democratic president’s time in office, claiming Biden’s top aides had covered up his cognitive decline and taken decisions on his behalf.Biden said in a statement widely emailed to US media that the move announced late on Wednesday came at a time when Trump was pushing a major piece of legislation that critics had said included massive tax cuts and huge slashes to social spending. Continue reading...

Politics

47 h. ago 'Bromance' is over as Elon Musk launches another scathing attack on Trump's 'big, beautiful bill'

Despite Trump's praises in the Oval Office last week, Elon Musk has continued his tirade against the "big, beautiful bill" of tax breaks and spending cuts, saying no one "should be able to stomach it"

Politics

51 h. ago Elon Musk turns on Donald Trump in scathing tirade against 'big beautiful bill'

Donald Trump's administration is pushing a piece of legislation in the United States which will be central to its agenda and will mean tax breaks as well as spending cuts

Politics

59 h. ago Voices: ‘Raising taxes is political suicide’: Readers tackle uncomfortable truth behind UK’s growth slump

Our community is sharply divided over how Rachel Reeves should fix the country’s finances. While some urged spending cuts over tax rises, others insisted ‘we really can’t afford to support the lifestyles of the mega wealthy’

Politics

59 h. ago Cops admit 'we'll have to ignore some crimes' in bleak future for Brit victims

Police say spending cuts will mean they'll have to 'choose' which cases to solve as senior officers tell Keir Starmer they'll have to 'deprioritise' some crimes

Events

63 h. ago Police will not have to pick and choose which crimes to investigate, says Reeves

Senior police chiefs have written to the PM warning they will be forced to make difficult choices if spending cuts are announced next week.

Events

65 h. ago Rachel Reeves begs Cabinet to cool war over spending cuts and talks up transport investment

Chancellor Rachel Reeves acknowledged ministers will not get 'everything they want' in the spending review due next Wednesday.

Economics

66 h. ago Labour ‘at war’ over Reeves’ spending review amid fears manifesto pledges will be ditched

Chancellor is facing a push to consider wealth taxes instead of cuts before she publishes her spending review next week

Events

3 d. ago Elon Musk brands Donald Trump's big tax break bill a 'disgusting abomination'

Donald Trump's administration is pushing a piece of legislation in the United States which will be central to its agenda and will mean tax breaks as well as spending cuts

Economics

3 d. ago Police warn Starmer of ‘stark choices’ on investigating crimes if faced with cuts under spending review

Met Police chief Sir Mark Rowley among senior police officers who reportedly issued direct warning in letter to prime minister ahead of spending review

Events

3 d. ago Reeves urged to raise taxes and cut public spending as UK growth to stall after Trump tariffs

Labour chancellor under pressure from the OECD ahead of upcoming spending review

Economics

8 d. ago Spending cuts and tax rises loom in ‘challenging period’ for ministers, with welfare bill set to top £9bn

Scottish Government warned by economic experts it faces ‘widening gap on social security’ and will ‘have to find additional resources’

Economics

8 d. ago Universe’s mysteries may never be solved because of Trump’s Nasa cuts, experts say

‘Extinction-level cuts’ to space agency’s spending means labs will close and deep-space missions will be abandonedSome of the greatest mysteries of the universe, such as the possibility of life on Mars, and whether humans could ever live on Venus, may never be solved because of Donald Trump’s proposed “extinction-level” cuts to Nasa spending, scientists are warning.The Trump administration revealed last month its plan to slash the space agency’s overall budget by 24% to $18.8bn, the lowest figure since 2015. Space and Earth science missions would bear the brunt of the cutbacks, losing more than 53% of what was allocated to them in 2024. Continue reading...

Politics

9 d. ago Trump confirms he’ll be negotiating his signature tax bill after Musk criticism

Tesla boss says US president’s One Beautiful Bill Act ‘undermines’ his Doge cost-cutting effortsDonald Trump said he will be negotiating his signature tax bill after Elon Musk publicly criticised the president’s spending plan, saying it “undermines” cost-cutting efforts that the world’s richest man once spearheaded.Speaking to reporters on Wednesday, Trump acknowledged the bill “needs to get a lot of support” in Congress, adding “we have to get a lot of votes”. The president also said he was “not happy about certain aspects of it, but I’m thrilled by other aspects of it” and confirmed he would be negotiating the legislation. Continue reading...

Economics

1 week ago Nigel Farage accused of ‘fantasy promises’ with expensive policy pledges

Reform UK leader unveils plans to reverse benefit cuts and bring in tax breaks without explaining how they would be fundedNigel Farage has been accused of leaving a multibillion-pound black hole at the heart of his party’s spending plans after unveiling a series of expensive policy pledges to be paid for by cutting nonexistent items of government spending.The Reform UK leader laid out a series of economic promises at a speech on Tuesday designed to take advantage of disquiet among Labour voters at the government’s policies on taxes and benefits. Continue reading...

Events

1 week ago IMF lifts UK growth forecast for 2025; markets welcome US delay to EU 50% tariffs – as it happened

Rolling coverage of the latest economic and financial news, as IMF releases latest healthcheck on UK economyRachel Reeves should ease fiscal rules to prevent emergency spending cuts, IMF saysEU hopes for quick deal to resolve US trade war after Trump delays 50% tariffsToyota to move some GR Corolla production to UK from JapanOuch! Germany’s economy is on track for its worst performance in post-war history, a new report shows.The German Chamber of Commerce and Industry (DIHK) predicted this morning that Europe’s largest economy will contract by 0.3% this year, Reuters reports. That would be the third annual contraction in a row, although not as bad as the 0.5% fall in GDP which the DIHK predicted back in February.“A mood of cautious relief is spreading after the long weekend, amid hopes for more fruitful trade negotiations between the United States and its global partners. There are no post bank holiday blues for the London market, with the Footsie in striking distance of the record ...

Economics

1 week ago Reform UK’s income tax plans ‘to cost up to £80bn’ warns IFS – UK politics live

Research institute says costs of plan to exclude those earning less than £20k from the tax will dwarf those of party’s winter fuel and two-child benefit changesThe co-leader of the Green party of England and Wales, Adrian Ramsay, has renewed his call for Russia to face greater sanctions. Posting to social media, the MP for Waveney Valley said “Putin has stepped up attacks on Ukrainian civilians because he thinks he’ll face no consequences. Much tougher sanctions are urgently needed to bring him into serious peace talks to end this horrific war.”As well as appearing on the media round today, shadow chancellor Mel Stride has written for the Daily Mail, saying that the Conservatives continue to back the two-child benefit cap. Continue reading...

Economics