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The Latest Breaking News from Budget

Rachel Reeves’s U-turn on income tax is needless, cowardly – and wrong

THE INDEPENDENT VIEW: Editorial: The chancellor’s decision to break a manifesto pledge cannot so easily be flipped from yes to no, especially when there has been no change in the economy to warrant it. This is no way to run a government

The Independent UK

Financial markets grow fretful after reports of UK government abandoning income tax hike

British financial assets were under pressure Friday on growing speculation that the Labour government has ditched plans to raise income taxes in a crucial budget at the end of the month

The Independent UK

‘The speculation is ridiculous’: Readers vent frustration over Budget uncertainty

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

The Independent UK

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Zaldy Co Revelation: Marcos 'Ordered' P100B in Budget 'Insertions', Romualdez Told Him 'Stay Out' of PH

Zaldy Co alleges Marcos ordered a P100B budget insertion and Romualdez told him to 'stay out' of the PH, fearing he's being made a 'scapegoat' and vowing to show 'receipts.'

International Business Times UK

Zaldy Co Dares Critics: 'Examine the Documents in Full' Before Making 'Conclusions'

Zaldy Co challenges critics to 'examine the documents' on his P100B budget claims against Marcos. Lacson fires back, dismissing the claims and demanding Co testify under oath.

International Business Times UK

UK Budget process in ‘complete chaos’, says Scotland’s Finance Secretary

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

Evening Standard

Sarwar urges Reeves to scrap two-child cap in Budget

The Chancellor will unveil her Budget later this month.

Evening Standard

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Nightmare on Downing Street: 'Iron Chancellor' loses her mettle with Budget U-turn and Starmer in coup chaos

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

Evening Standard

UK stocks dive as tech bubble worries and Budget speculation mount

The index was losing around 140 points, or about 1.4%, on Friday morning.

Evening Standard

Government borrowing costs rise in wake of income tax U-turn speculation

Reports that the Chancellor has scrapped her plans to raise income tax at the Budget has sparked a sell-off in UK Government bonds.

Evening Standard

Rachel Reeves’ tax U-turn reports spark UK government bond sell-off

Experts said bond markets have baulked at the speculation as it leaves the Chancellor scrambling to fill a gaping black hole in the nation’s finances.

Evening Standard

Reeves not ‘playing fast and loose with people’s money’ amid tax U-turn reports

Culture Secretary Lisa Nandy would not be drawn into speculation that Ms Reeves has abandoned plans for the manifesto-breaking tax hike.

Evening Standard

Reeves dumps plan to raise income tax in screeching Budget U-turn sending spooked markets into slide

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

Evening Standard

Stealth tax alert: Reeves Budget to make record 10m pay Income Tax higher rate if she freezes thresholds

A further two-year freeze on Income Tax thresholds would drag 790,000 more people into paying the 40% higher rate, according to the IFS

Evening Standard

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Evening Standard

Reeves urged to cut windfall tax and not ‘sacrifice’ oil and gas workers

The Chancellor is due to deliver her budget later this month.

Evening Standard

Stocks fall amid weak GDP print ahead of Budget

The FTSE 100 index closed down 103.74 points, 1.1%, at 9,807.68.

Evening Standard

Well-off London cyclists face being clobbered by 'Mamil Tax' in Rachel Reeves Budget

The Chancellor appears to have in her sights on so-called ‘Mamils’ - middle-aged men in Lycra

The Independent UK

UK economic growth slows ahead of Budget

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Evening Standard

Labour Traitors war: Who has been accused of plotting against the Prime Minister and why?

Sir Keir Starmer was forced to condemn ‘completely unacceptable’ briefings against his Health Secretary, Wes Streeting

The Independent UK

Kirstie Allsopp calls for stamp duty to be abolished in Reeves’ Budget

The Location, Location, Location presenter told a committee she believed the tax is ‘damaging’ housing stock

International Business Times UK

December Rate Cut Looms as Jobless Rate Returns to COVID 19 Level

The UK's rising unemployment rate and stubborn inflation suggest the Bank of England may cut interest rates in December, amid economic uncertainty.

Evening Standard

London pubs boss urges Reeves to spare struggling sector from more Budget punishment

Fuller’s boss said the pub chain faced an £8m increase in costs as a result of last year’s Budget

The Independent UK

Six big changes to expect from Reeves’ Budget and how they’ll impact your finances

Pensions, the cash ISA and more could all be set for notable alterations

Evening Standard

Reeves torpedoes Labour's manifesto in huge Budget tax gamble which could put Farage in No10

Commentary: The Chancellor has been so clear that she is going to torch the party’s manifesto tax promise that a U-turn now would stun Westminster

The Independent UK

Over 100 groups call for Labour to fully scrap two child benefit cap: ‘Do the right thing’

‘Abolishing the two-child limit in full will set millions of children’s lives on a path to a brighter future’, major organisations say

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