49 m. ago What pension changes is Rachel Reeves considering in the budget?

One possible alteration was thought to be tax-free cash drawdowns, but the chancellor may have turned to salary sacrifice schemesRumours about what Rachel Reeves may, or may not, do to pensions in the budget continue to swirl.One much-debated possible change – cutting the amount of tax-free cash that people can take from their pensions – is said by some to be off the table, but reports have emerged that the chancellor has “salary sacrifice” pension schemes in her sights. Continue reading...

Economics

2 h. ago Levy on international students’ tuition fees not in best interest of UK, says leader of top university

Duncan Ivison, president of Manchester University, says government’s 6% surcharge plan will ‘hurt the sector’A levy on tuition fees paid by international students is “wrong”, will “hurt the sector” and is “not in the long-term interests” of the UK, according to the vice-chancellor of one of the country’s leading universities.Duncan Ivison, who took over as president and vice-chancellor of the University of Manchester (UoM) last year, was speaking ahead of the budget later this month when the chancellor, Rachel Reeves, is expected to flesh out her plans for the proposed 6% surcharge. Continue reading...

Politics

11 h. ago Reeves to freeze thresholds after ditching planned income tax hike – reports

The Chancellor is understood to have U-turned after improved forecasting from the Office for Budget Responsibility.

Politics

13 h. ago Reeves' climbdown on income tax proves Labour is now the puppet of Left

Rachel Reeves last night faced accusations that she ripped up her Budget to head off another revolt from Labour MPs who feared breaking the party's manifesto promise on tax would be electoral suicide.

Politics

14 h. ago The Chancellor's lost control: Rachel Reeves accused of presiding over most shambolic Budget in history after humiliating U

The Chancellor spent weeks laying the ground for a manifesto-breaking hike in taxes for millions of workers in this month's Budget , before sparking chaos in the City by performing a shock U-turn.

Politics

17 h. ago UK borrowing costs jump as investors lose faith in Rachel Reeves’ Budget

Gilts sell off after government ditches plan to increase income tax rates

Economics

17 h. ago UK borrowing costs jump as investors lose faith in Reeves’ Budget

Gilts sell off after government ditches plan to increase income tax rates

Economics

18 h. ago ‘The speculation is ridiculous’: Readers vent frustration over Budget uncertainty

Our community is split over Rachel Reeves’ upcoming Budget, with many frustrated by speculation and uncertainty, while others defend her cautious approach

Politics

19 h. ago The UK Budget must make life easier for working people by lowering energy bills

Writing for the Record, the Scottish Labour leader sets out what he hopes to see from Rachel Reeves' Budget statement later this month.

Economics

21 h. ago UK Budget process in ‘complete chaos’, says Scotland’s Finance Secretary

Reports suggest Chancellor Rachel Reeves has scrapped plans to hike income tax.

Economics

21 h. ago Anas Sarwar demands Rachel Reeves uses Budget to finally scrap two

The Scottish Labour leader said Rachel Reeves had to deliver a Budget that "confronts child poverty".

Events

22 h. ago Treasury won’t cut threshold for higher rate income tax, say sources – UK politics live

Fallout continues over budget income tax U-turn, with Treasury saying expected fiscal gap has dropped to £20bnThis is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates1. Does it signal less willingness to do politically difficult thingsBritain’s long-term borrowing costs were sent soaring as reports suggested the latest U-turn would leave Rachel Reeves scrambling to fill a gaping black hole in the nation’s finances just two weeks before the 26 November budget.Yields on 30-year UK government bonds, also known as gilts, jumped as much as 14 basis points in early trading, and the yield on 10-year gilts also shot up 12 basis points – rising the most since July. Continue reading...

Politics

22 h. ago This is how much more your favourite drink will cost if Rachel Reeves hikes booze tax in Budget

Bad news for cash-strapped boozers as the prices of drinks is set to take a hike from February after Reeves' brutal Budget, with a bottle of whisky planned to increase by 50p

Economics

22 h. ago Nightmare on Downing Street: 'Iron Chancellor' loses her mettle with Budget U

Commentary: Two startling own goals in a week have damaged Sir Keir Starmer and Rachel Reeves’ authority

Politics

23 h. ago Streeting says striking doctors ‘extremely irresponsible’ in angry phone

Health secretary unhappy as resident doctors in England have started a five-day strike todayThis is from Helen Miller, director of the Institute for Fiscal Studies thinktank, on the market reaction to the chancellor’s reported budget U-turn.Investors will have 2 broad concerns about news that Chancellor won’t increase income tax rates1. Does it signal less willingness to do politically difficult thingsBritain’s long-term borrowing costs were sent soaring as reports suggested the latest U-turn would leave Rachel Reeves scrambling to fill a gaping black hole in the nation’s finances just two weeks before the 26 November budget.Yields on 30-year UK government bonds, also known as gilts, jumped as much as 14 basis points in early trading, and the yield on 10-year gilts also shot up 12 basis points – rising the most since July. Continue reading...

Events

23 h. ago Chancellor abandons planned income tax hike because of improved forecasts

The PA news agency understands the strength of tax receipts has improved the numbers from the OBR, allowing for the U-turn.

Politics

25 h. ago Rachel Reeves ditches plans to hike income tax as UK borrowing costs jump

Income tax levels in Scotland are set by Holyrood but spending decisions set by Reeves have a major impact on how much funding is available to the SNP Government.

Economics

25 h. ago Reeves dumps plan to raise income tax in screeching Budget U

Chancellor abandons plans to raise income tax over fears they could spark a huge backlash among voters and backbench Labour MPs

Economics

26 h. ago Confidence in UK economy plummets among London fintech bosses

More than eight out of ten are pessimistic about prospects for UK

Economics

26 h. ago The taxes Rachel Reeves could raise after income tax hike abandoned

There are many options on the table as the chancellor looks to raise considerable sums

Politics