9 h. ago Whitehall departments ‘asked to reveal lowest priority spending’ ahead of Reeves’ planned cuts

Whitehall departments and the welfare budget are areas being targeted for spending cuts ahead of the Spring Statement

Events

15 h. ago Trump’s tariff plans will hit UK economy, top economists warn

The chancellor is plotting billions of pounds of spending cuts as economists warn Donald Trump’s tariffs will throw her growth plans into a spin

Events

15 h. ago Trump’s tariff plans will hit UK economy, top economist warns

The chancellor is plotting billions of pounds of spending cuts as economists warn Donald Trump’s tariffs will throw her growth plans into a spin

Events

15 h. ago ‘A risky bet’: Friedrich Merz criticised over plan to lift Germany’s debt rules

Chancellor-in-waiting accused of taking part in ‘debt orgy’ after proposing loosening rules to boost defenceGermany’s chancellor-in-waiting, Friedrich Merz, is facing a barrage of criticism from opposition politicians over his radical proposals to loosen rules on running up debt to allow for higher defence spending and boost the economy.The CDU/CSU leader’s proposals for a multibillion-euro package, agreed with his potential coalition partners the Social Democrats, have been described as everything from a “bazooka” to “an extremely risky bet” by economists. He himself has called them vital “in light of the threats to our freedom and peace on our continent”. Continue reading...

Events

16 h. ago Rachel Reeves plans huge cuts to benefits and public spending in Spring Statement

Rachel Reeves faces calls to step back from becoming 'Labour's austerity Chancellor' as she prepares to slash billions of pounds from welfare and other Government budgets

Politics

17 h. ago Labour to cut welfare spending ‘by billions’ – what changes could they make?

Treasury insiders say welfare spending cuts will be in the ‘billions’

Economics

18 h. ago ‘I don’t want my sons in fatigues’ – Jess Phillips defends aid cuts

The minister was asked about the Government’s decision to cut overseas aid to fund a boost to defence spending.

Politics

22 h. ago Hundreds of thousands face benefits cuts as DWP budget slashed

The Department for Work and Pensions is set to see its budget cut ahead of the spring statement as the Chancellor orders departments to cut billions from their spending

Politics

23 h. ago Labour Government expected to slash benefits in huge spring statement spending cuts

Chancellor Rachel Reeves will make the spring statement on March 26.

Politics

24 h. ago UK chancellor to propose spending cuts to fix worsening public finances

Welfare bill in focus as Rachel Reeves’ £9.9bn of fiscal ‘headroom’ wiped out by higher borrowing costs

Economics

24 h. ago Reeves to propose spending cuts to fix UK’s worsening public finances

Welfare bill in focus as chancellor’s £9.9bn of fiscal ‘headroom’ wiped out by higher borrowing costs

Economics

25 h. ago Keir Starmer, you claim huge and damaging cuts are vital so we can buy arms and defend ourselves. Prove it | Owen Jones

Splurging the cash is not the answer to Europe’s security jitters. Let’s ignore the hyperbole and decide what’s actually neededBritain is now on a “war footing”, we are told. Earlier this year, Nato’s secretary general, Mark Rutte, demanded that European nations start hiking defence spending at the expense of pensions, health and social security. Fail to do so, he warned, and the only recourse would be to “get out your Russian language courses or go to New Zealand”.In this increasingly feverish atmosphere, it becomes ever more difficult to ask for a bit of perspective, but it is necessary. European elites are panic-stricken after Donald Trump hit the accelerator away from US hegemony, a trend already long under way. Meanwhile, Labour figures openly brief that this could be Keir Starmer’s “Falklands moment”, using Ukraine’s agony to transform the government’s calamitous polling, speaking to a grubby political opportunism. Britain’s current trajectory could raise a much graver menace ...

Politics

33 h. ago Starmer faces growing concerns from MPs over ‘brutal’ cuts to foreign aid budget

Sir Keir Starmer is facing increasing pressure from MPs over his decision to cut the overseas aid budget to fund an increase in defence spending

Politics

58 h. ago Keir Starmer faces growing pressure from senior Labour MPs over his decision to cut the overseas aid budget to fund increase in defence spending to 2.5 per cent of GDP

Labour MPs lined up to criticise the move in the Commons on Monday, with Barry Gardiner warning it would lead to more 'more people being slain by famine, drought, disaster and war'.

Economics

59 h. ago Fiscal 'heart attack' looms for US due to Donald Trump's spending plans, warns top fund manager

Ray Dalio, founder of asset manager Bridgewater Associates, said Trump's plan to cut taxes while ramping up spending would trigger a meltdown

Events

60 h. ago Donald Trump is more popular than ever, according to shock poll, as he prepares for address to Congress

President Donald Trump 's rapid pace of spending cuts, deportations and foreign policy flexes are winning him new admirers, according to a new DailyMail.com poll.

Politics

67 h. ago Trump administration may exclude government spending from GDP, obscuring effect of Doge cuts

Howard Lutnick’s remarks echo Elon Musk, who says government spending doesn’t create value for US economyUS politics live – latest updatesHoward Lutnick, the US commerce secretary, said on Sunday that government spending could be separated from gross domestic product reports, in response to questions about whether the spending cuts pushed by billionaire businessman Elon Musk’s so-called “department of government efficiency” (Doge) could possibly cause an economic downturn.“You know that governments historically have messed with GDP,” Lutnick said on Fox News Channel’s Sunday Morning Futures. “They count government spending as part of GDP. So I’m going to separate those two and make it transparent.” Continue reading...

Politics

67 h. ago US may exclude government spending from GDP, obscuring effect of Doge cuts

Howard Lutnick’s remarks echo Elon Musk, who says government spending doesn’t create value for US economyUS politics live – latest updatesHoward Lutnick, the US commerce secretary, said on Sunday that government spending could be separated from gross domestic product reports, in response to questions about whether the spending cuts pushed by the billionaire businessman Elon Musk’s so-called “department of government efficiency” (Doge) could possibly cause an economic downturn.“You know that governments historically have messed with GDP,” Lutnick said on Fox News Channel’s Sunday Morning Futures. “They count government spending as part of GDP. So I’m going to separate those two and make it transparent.” Continue reading...

Politics

3 d. ago The Trump administration may exclude government spending from GDP, obscuring the impact of DOGE cuts

Commerce Secretary Howard Lutnick says he could take government spending out of his agency's reports on gross domestic product

Politics

3 d. ago ‘This will cost lives’: cuts to UK aid budget condemned as ‘betrayal’ by international development groups

Widespread alarm at Keir Starmer’s decision to slash funds, amid warnings of dire consequences for world’s poorestKeir Starmer promised at the UN last September that the UK would “be a leading contributor to development”. Just five months later few expected an announcement that could result in UK aid spending falling to its lowest level this century.Overseas development aid will fall from 0.5% of the UK’s gross national income to 0.3% – a cut of about £6bn – in order to pay for increased defence spending. Continue reading...

Society