17 h. ago Who is running Britain’s economy – Rachel Reeves or Donald Trump?

The chancellor’s careful calculations for her spring statement are likely to be blown out of the water by a looming US trade war• From more tax to rewriting budget rules: six alternative ways Reeves could raise moneyAs Rachel Reeves powered through her spring statement on Wednesday, telling the country she was “restoring stability to the public finances” few in the House of Commons chamber seemed to know what to make of it all.Reeves’s message did not seem to resonate with the underlying mood of uncertainty and anxiety at home and abroad. Many Labour MP nodded loyally along with her, trying to impress the whips. Others on the government benches looked grave. Growth forecasts for this year had been halved. Money would have to be raised to meet the chancellor’s own fiscal rules, and the poorest would be the ones bearing the brunt. Continue reading...

Politics

3 d. ago Rachel Reeves 'likely' to raise taxes in Autumn, Institute for Fiscal Studies say

It comes after a difficult Spring Statement

Events

3 d. ago UK politics live: Rachel Reeves may raise taxes ‘even further’ in autumn budget, IFS warns

Ms Reeves has denied there would be further tax rises or spending cuts at the Budget in the autumn but stopped short of ruling them out entirely

Events

3 d. ago ‘Good chance’ Reeves will have to raise taxes in autumn budget, thinktank says – UK politics live

Institute for Fiscal Studies also warns Reeves over her focus on sticking with fiscal rules regardless of real world eventsIn an interview with ITV’s Good Morning Britain, Rachel Reeves, the chancellor, said she would not accept free tickets for concerts again in the future.Asked about the controversy about her decision to accept two corporate tickets for a Sabrina Carpenter concert at the O2, she repeated the line that she used at her press conference yesterday – that a family member wanted to attend the concert (presumably one of her children, but she did not say that), and that she accepted tickets for a corporate box because security concerns meant it was not deemed safe for her to get normal tickets for the auditorium.I’m just saying I wouldn’t do it again. I felt I was doing the right thing. But I do understand perceptions.I am absolutely certain that our reforms, instead of pushing people into poverty, are going to get people into work.And we know that if you move from welfar...

Politics

3 d. ago Reeves denies welfare cuts will increase poverty amid warning poorest set to be £500 a year worse off – UK politics live

The Resolution Foundation says the UK’s poorest will be £500 a year worse off by the end of the parliament due to the spring statementIn an interview with ITV’s Good Morning Britain, Rachel Reeves, the chancellor, said she would not accept free tickets for concerts again in the future.Asked about the controversy about her decision to accept two corporate tickets for a Sabrina Carpenter concert at the O2, she repeated the line that she used at her press conference yesterday – that a family member wanted to attend the concert (presumably one of her children, but she did not say that), and that she accepted tickets for a corporate box because security concerns meant it was not deemed safe for her to get normal tickets for the auditorium.I’m just saying I wouldn’t do it again. I felt I was doing the right thing. But I do understand perceptions.I am absolutely certain that our reforms, instead of pushing people into poverty, are going to get people into work.And we know that if you move ...

Events

3 d. ago Trump tariffs: Britain scrambling to strike last minute deal to avoid 25% levies on car imports to US

The US president’s tariff on cars move came only hours after Britain’s budget watchdog warned the levies could force Chancellor Rachel Reeves to raise taxes or cut spending

Economics

3 d. ago Rachel Reeves defends benefit cuts and denies further tax rises likely in autumn – UK politics live

Chancellor confirmed welfare cuts of £4.8bn in spring statement, but insisted the priority was to restore stability to the public finances Nick Robinson is interviewing Rachel Reeves on the Today programme now.Q: You promised just one budget a year, but yesterday you had to announce drastic cuts. What’s gone wrong?We’re not at the moment at a position where we want to do anything to escalate these trade wars.Trade wars are no good for anyone. It will end up with higher prices for consumers, pushing up inflation after we’ve worked so hard to get a grip of inflation, and at the same time will make it harder for British companies to export. Continue reading...

Politics

3 d. ago Trump tariffs: Reeves says UK isn't planning to retaliate 'at the moment' after US President slaps 25% levies on car imports

The move came only hours after Britain’s budget watchdog warned Trump’s threatened tariffs on the UK could force Chancellor Rachel Reeves to raise taxes or cut spending

Politics

3 d. ago Chancellor Rachel Reeves visits Wales today amid backlash over benefits changes

Wales is set to see a new £250m investment in a boost the manufacturing sector

Politics

3 d. ago Donald Trump imposes 25% tariffs on car imports dealing new blow to UK and global economy

The move came only hours after Britain’s budget watchdog warned Trump’s threatened tariffs on the UK could force Chancellor Rachel Reeves to raise taxes or cut spending

Economics

4 d. ago Spring statement 2025 live: Reeves refuses to rule out more cuts amid growing Labour backlash

Chancellor faces speculation she will be forced to find more money to balance the books

Politics

4 d. ago Spring statement 2025 live: Trump tariffs could wipe out Reeves’s thin margin of error on budget, OBR warns

Office for Budget Responsibility said the most “severe” scenario would ‘almost entirely eliminate’ the Chancellor’s £9.9 billion headroom against her fiscal rules

Events

4 d. ago Spring Budget 2025 RECAP: Chancellor Rachel Reeves outlines spending cuts in Spring Statement

Chancellor Rachel Reeves has delivered her Spring Statement, confirming the 2025 growth estimate for the UK has been halved to 1 per cent by the government's official forecaster

Economics

4 d. ago Spring Statement 2025 LIVE: Rachel Reeves warned economic plans could be derailed as UK growth forecast slashed

Chancellor Rachel Reeves has presented her first highly-anticipated Spring Statement to parliament.

Events

4 d. ago Millions now face tax rises in 'blockbuster' autumn Budget, warns the IFS after Rachel Reeves Spring Statement

The Chancellor was said to be at the ‘mercy of events’ by not building up a bigger fiscal cushion

Events

4 d. ago Spring statement 2025 live: OBR slashes economic growth forecast as 3m families to be hit by welfare cuts

Quarter of a million people, including 50,000 children, pushed into poverty by end of decade due to welfare reforms, according to government’s own impact assessment

Economics

4 d. ago Spring Statement 2025: Millions now face tax rises in 'blockbuster' autumn Budget, warns the IFS

The Chancellor was said to be at the ‘mercy of events’ by not building up a bigger fiscal cushion

Events

4 d. ago Spring statement 2025 live: Reeves hit by economic growth downturn as she unveils budget and welfare cuts

Quarter of a million people, including 50,000 children, pushed into poverty by end of decade due to welfare reforms, according to government’s own impact assessment

Economics

4 d. ago 250,000 more people will face relative poverty after Rachel Reeves’ benefits cuts, DWP says – spring statement live

Department for work and pensions says thousands, including children, will be hit by chancellor’s reforms, as OBR forecasts UK growth to halve in 2025Spring statement 2025: key points at a glanceRachel Reeves will not be raising taxes in the spring statement today, even though there are many people on the left who would prefer taxes to rise as an alternative to public spending being cut. Reeves came into office promising only one budget-type event a year, and that is one reason why she is not hiking taxes today. But mainly it’s because she thinks Britons are relatively highly taxed already, because Labour was elected on a manifesto ruling out most of the obvious possible tax rises and because she’s not convinced a sweeping wealth tax would work.But that has not stopped campaigners calling for a wealth tax, and yesterday about 300 people attended a ‘Tax the Super-Rich’ rally outside the Treasury. It was organised by charities and social justice campaign groups, but one of the speakers...

Politics

4 d. ago Spring statement live: Reeves hit by economic growth downturn as she unveils £14bn budget and welfare cuts

The chancellor is delivering her spring statement in the Commons amid pressure from MPs to get the economy growing

Economics