3 h. ago UK Budget 2025: Labour's £26 billion tax gamble risks choking off economic growth

If the economy fails to improve, Labour’s troubles and poll ratings will only get worse

Economics

3 h. ago Rachel Reeves’s budget has inflamed, not calmed, Britain’s febrile mood | Martin Kettle

The chancellor’s statement will be remembered for the many taxes it raised, rather than the big one – income tax – it did notRachel Reeves’s chancellorship was already balanced on a knife-edge, even before the 2025 budget. After she delivered her second budget statement, it still is. Even more than usual, Wednesday’s speech was full of significant fiscal changes, altered spending commitments and adjusted economic forecasts, most of them accidentally (and, for journalists, conveniently) released a short while in advance by the obviously misnamed Office for Budget Responsibility. Politically, however, almost nothing has changed at all.Reeves arrived in the Treasury last year offering what she, like Keir Starmer, had promised as the Conservative years ebbed: competence, stability and, above all, a focus on economic growth. Her problem, despite her upbeat assessments, is that she has delivered none of them. Nothing about the 2025 budget guarantees any early change in that, however defia...

Politics

21 h. ago Autumn Budget 2025 live: Labour to introduce new mileage tax on electric and plug

Follow the Daily Mail's liveblog for updates as Rachel Reeves delivers her Budget today and plans to raise taxes to fund handouts worth thousands of pounds to Britain's biggest jobless families.

Economics

27 h. ago Autumn Budget 2025: Live updates as Chancellor Rachel Reeves prepares to deliver Labour's money grab budget 

Follow the Daily Mail's live blog for updates as Rachel Reeves unveils her second budget today in a bid to fill a £35billion 'black hole' in Labour's finances.

Economics

39 h. ago Budget 2025: Labour has to have a relentless focus on the cost of living crisis

Daily Record Political Editor Paul Hutcheon says voters are sick of making sacrifices and want to be better off financially.

Economics

42 h. ago Rachel Reeves wants to achieve these five things with her Budget – it won’t be easy

The chancellor took on her role wanting nothing more than economic growth, but her priorities have now dramatically changed, as political editor David Maddox explains

Politics

42 h. ago Rachel Reeves wants to achieve these five things with her Budget

Rachel Reeves became chancellor wanting nothing more than economic growth, but her priorities have now dramatically changed, as political editor David Maddox explains

Politics

64 h. ago UK Budget 2025: Labour's economic policies are unravelling much like COP30's hopes of ending oil and gas

After the COP30 climate summit ends with a whimper, Chancellor Rachel Reeves’ second Budget may not fare much better

Economics

1 week 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

1 week 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

3 w. 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

3 w. ago Reeves says UK has suffered ‘years of economic mismanagement’ in speech preparing ground for tax rises – politics live

Chancellor says she is focused on priorities for British people and previous governments have limited UK’s potentialReeves 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...

Economics

4 w. ago Ministers can raise taxes if they come out fighting. But no one in this cowardly Labour government seems able | Aditya Chakrabortty

Ahead of the budget, Rachel Reeves should be out making her arguments. Instead, there is silence – and a huge opportunity for Labour’s opponentsScroll back three years. The person sitting opposite me is yet to take their place at the top of Keir Starmer’s government. Instead, they are a star of the Labour opposition, for whom power advances or recedes with every poll and front page. They have just done a spot of electoral marketing, a photo op at a supermarket 100 or so miles from Westminster, and what they’ve brought home is the politics of the staff.“They’d all voted for Boris.”Aditya Chakrabortty is a Guardian columnist Continue reading...

Politics