16 h. ago 'Top quality' London restaurant beloved by Michelin and diners closes, blaming Rachel Reeves' budget

Initially a venture by two of London's most experienced maître d's Paulo de Tarso and Nicolas Jaouën, the much-loved restaurant won applause from the Michelin Guide and other critics.

Politics

3 d. ago Tax hike fears mount after government borrowing jumps in May

The ONS said borrowing surged to £17.7 billion last month, the second highest figure on record for May

Politics

4 d. ago Government borrowing jumps despite boost from national insurance hike

The ONS said borrowing rose to £17.7 billion last month, the second highest figure on record for May.

Politics

8 d. ago Treasury 'already drawing up tax rises for the Autumn' as grim poll shows just a fifth of Brits say Rachel Reeves had priorities right in Spending Review

Dividends and bank profits are among the areas being mooted for drumming up revenue to balance the books.

Economics

9 d. ago Reeves braced for OBR forecasts to blow £20bn hole in tax and spending plans

Downgrades by Treasury watchdog could force chancellor to raise taxes or cut spending at budget to meet fiscal rulesRachel Reeves is braced for revised forecasts by the Office for Budget Responsibility (OBR) to blow a £20bn hole in her tax and spending plans before the autumn budget.Even without changing the totals the chancellor set out in her spending review on Wednesday, a weaker forecast from the the Treasury’s independent watchdog could force her to find significantly more money at the budget to meet her “non-negotiable” fiscal rules. Continue reading...

Economics

1 week ago Voices: Yes, ‘Renewal’ Reeves needs to raise taxes – but how will she pull it off?

The chancellor’s fiscal headroom is already compromised by her commitment to tackle child poverty, writes Sean O’Grady. So she needs luck – and to be more boring than ever – to raise the revenue she desperately needs

Politics

1 week ago Rachel Reeves refuses to rule out Autumn Budget tax rises as economy shrinks 0.3% in April

Latest GDP estimate worse than the 0.1% fall expected by economists

Economics

1 week ago Rachel Reeves seized her moment – whatever the future brings, Labour’s economic course is now set | Martin Kettle

The chancellor is no mere technocrat: her spending review revealed a visceral commitment to social and economic mobilityThe consensus has long been that the 2025 spending review would be a defining moment for Keir Starmer’s government. For once, the consensus proved spot-on. The government’s main priorities were set out on Wednesday in a blizzard of Commons announcements from Rachel Reeves, some economically substantive, others more for show. The upshot is that the shape of the British state, as Labour intends it, is now decided until the eve of the next election.There are further crossroads still to come, some of them major, as the years covered by the review unroll. Taxes are likely to rise, probably as soon as the autumn budget, to pay for Reeves’s big ticket boosts on Wednesday for defence, health and housing. Council tax could rise too, with possibly dramatic results. The review’s emphasis on capital spending means current spending could be squeezed again, perhaps heralding pay...

Economics

1 week ago Rachel Reeves has given the Starmer administration a new narrative: Investment, growth and expansion

Editorial: Alongside the Brexit reset, new trade deals and planning reforms, the chancellor’s spending review should result in a stronger economy with a better long-term growth rate. But it will take time

Politics

1 week ago There may be trouble ahead, but Labour should stick to the plan for national renewal

Editorial: With the Brexit reset, new trade deals and planning reforms, the chancellor’s spending review could result in a stronger economy with a better long-term growth rate. But it will take time

Events

1 week ago Spending review 2025 – live: Reeves criticised for ‘fantasy’ plan as economists warn tax hikes ‘very likely’

Chancellor Rachel Reeves insists she will never have to repeat last year’s Autumn Budget, when tax rises were announced

Events

1 week ago Spending review 2025 – live: Reeves vows to end asylum hotels by next election in £600bn budget plan

Chancellor promises review will boost ‘Britain’s renewal’

Economics

1 week ago Spending review 2025 – live: Rachel Reeves to unveil plans for £600bn budget

Sir Keir Starmer being quizzed at PMQs before chancellor set to outline Labour's spending plans for NHS, housing and defence

Economics

1 week ago Spending review live: Rachel Reeves to announce how she’ll spend £600bn budget as experts warn of tax hikes

Chancellor to unveil funding boosts for NHS, housing, defence and schools as she outlines Labour's spending plans until next election

Economics

2 w. ago UK unemployment rises to highest level since 2021 as job vacancies fall

Experts have blamed a slowdown in the jobs market on a tax and cost increases for employers announced by Chancellor Rachel Reeves in the autumn Budget

Politics

2 w. ago Spending review boost for 'broken' police service after last

Chancellor Rachel Reeves is prepared to announce real-terms increases to the budget for police forces

Events

2 w. ago Warning UK’s housing crisis will deepen if Reeves makes further cuts in spending review

Exclusive: Building new social housing is facing a ‘cliff edge’ because of a lack of funds, experts say – as Rachel Reeves and Angela Rayner battle over budget plans

Events

2 w. ago Reeves to stick to fiscal rules amid budget wrangles ahead of spending review

The Chancellor said there were ‘good things’ that would not be able to happen due to the tight spending settlement.

Economics

2 w. ago Labour's war on farmers isn't just causing suicide and despair... it's threatening Britain's national security at a time of grave peril: JAMIE BLACKETT

The day before Rachel Reeves delivered her Budget, 78-year-old farmer John Charlesworth killed himself. He knew that the Government was going to mount a punitive tax raid on family-owned farms.

Events

3 w. ago Reeves warned on budget rules as OECD urges UK to boost tax revenues

Growth forecast for 2026 cut to 1% from 1.2% as Britain ‘faces substantial downside risks to growth’

Events