30 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

30 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

35 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

36 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

38 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

38 h. ago FTSE 100 LIVE: London slides and UK gilts sell as Reeves spooks market with tax U

FTSE 100 LIVE: London slides and UK gilts sell as Reeves spooks market with tax U-turn  Yahoo Finance UK

Economics

39 h. ago UK borrowing costs up after markets spooked by Reeves’s income tax U

Pound down 0.5% against dollar in early trading after chancellor drops plans for upcoming budgetUK politics live – latest updatesBritain’s borrowing costs have jumped while the pound has dropped after the chancellor’s extraordinary last-minute decision to ditch tax-raising plans in the upcoming budget.Interest rates on government bonds rose by more than 10 basis points in early trading, putting them on track for their worst day since 2 July, when investors responded to a tearful appearance by Rachel Reeves in the House of Commons chamber. The pound, meanwhile, dropped 0.5% against the dollar. Continue reading...

Economics

39 h. ago FTSE 100 LIVE: London slides and UK gilts up as Reeves spooks market with tax U

FTSE 100 LIVE: London slides and UK gilts up as Reeves spooks market with tax U-turn  Yahoo Finance UK

Economics

3 d. ago FTSE 100 LIVE: London flat and Europe jumps as UK government borrowing costs climb amid Starmer coup

FTSE 100 LIVE: London flat and Europe jumps as UK government borrowing costs climb amid Starmer coup  Yahoo Finance UK

Politics

3 d. ago FTSE 100 LIVE: London flat and Europe gains as UK government borrowing costs climb amid Starmer coup

FTSE 100 LIVE: London flat and Europe gains as UK government borrowing costs climb amid Starmer coup  Yahoo Finance UK

Politics

3 d. ago Borrowing costs spike higher as Labour turmoil rattles bond markets

The yield on UK gilts edged up as international investors demanded a higher rate of return for lending to the government.

Economics

4 d. ago Panic grips Wall Street as tech's 'Warren Buffett' quietly offloads ALL stock in world's biggest company

The move has rattled traders already spooked by a growing chorus of warnings about the overheated stock market.

Events

5 d. ago Welsh Water just got its report card from regulator Ofwat and it's not good

Welsh Water said at the same time that its downgrade by credit rating agencies would add significant borrowing costs

Politics

6 d. ago Trump’s dollar delusion: how trade war risks ending the US’s ‘exorbitant privilege’

Trump’s team flirts with weakening the dollar, threatening US influence, low borrowing costs and global stabilityMagical thinking is indispensable to understanding Team Trump’s economic policymaking. The White House often seems to believe two opposing policies can work together while one policy can do two or three contradictory things.A heavy dose of hocus pocus will be needed to make the administration’s dollar policy work in the interest of the United States, for it appears that they want to end the US dollar’s supremacy in global finance. Continue reading...

Events

9 d. ago Bank of England leaves interest rates on hold at 4% and says inflation "has peaked"

The next cut in the cost of borrowing is now expected in December just before Christmas

Economics

1 week ago Economists urge Reeves to make ‘difficult’ choices to boost market confidence

Experts said the Chancellor should prioritise bringing down Government borrowing costs.

Economics

1 week ago Reeves refuses to say she will stick to manifesto pledge on tax rises and insists she must face world ‘as it is’ – UK politics live

Chancellor says she is focused on priorities for British people in pre-budget speech laying ground for expected tax risesBusiness live: UK borrowing costs fall and pound hits six-month lowReeves says welfare needs to be reformed.There is nothing progressive about refusing to reform a system that is leaving one in eight young people out of education, or employment. I put our public finances back on a firm footing, provided an urgent cash injection into a faltering public services and began rebuilding our economy.But since that budget, the world has thrown even more challenges our way. Continue reading...

Politics

2 w. ago Government borrowing costs rise as Rachel Reeves comes under fresh pressure in renting row

Government borrowing costs rose sharply on Thursday, partially erasing gains made in recent months, in another blow to Rachel Reeves' Budget plans.

Politics

2 w. ago Meta readies $25bn bond sale as soaring AI costs trigger stock sell

Social media group sheds $200bn in market value as Mark Zuckerberg’s investment plans spook investors

Economics

2 w. ago Government borrowing costs rise as Rachel Reeves comes under pressure

Government borrowing costs rose sharply on Thursday, partially erasing gains made in recent months, in another blow to Rachel Reeves' Budget plans.

Politics