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The Latest Breaking News from Budget

Voices: There won’t be a wealth tax – but Rachel Reeves can’t afford to rule it out just yet

INSIDE WESTMINSTER: A war is raging within government circles about the wisdom of placing a levy on individual assets, a measure that the chancellor rejects as anti-growth – but she can’t yet risk angering Labour backbenchers who remain in a mutinous mood, says Andrew Grice

The Independent UK

Brexit has left City of London’s reputation at risk, Goldman Sachs chief warns

David Solomon warned Goldman Sachs is turning its attention towards the continent

The Independent UK

Budget tax hikes even more likely after huge jump in June borrowing

Last month’s figures only exceeded in June 2020 at the peak of the pandemic

Evening Standard

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EU budget: Parliament revolts against Commission proposal

The EU budget Commissioner’s presentation was poorly received by MEPs: “Negotiations start on the wrong foot”, says rapporteur.

Euronews

Voices: The ghost at the feast haunting Rachel Reeves’s bombshell speech to the City

COMMENT : Whisper it: What about wealth tax, chancellor, asks Andrew Grice

The Independent UK

Labour leaves the door open to higher taxes in Budget

IN FULL

The Independent UK

Wealth tax speculation as Labour minister says taxes won't rise for 'modest incomes'

A LABOUR minister refused to rule out tax rises in the Budget and claimed the Government will be guided by “fairness”

The National (Scotland)

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Trump’s ‘Big Beautiful Bill’ is estimated to leave millions without health care. He insists ‘it’s not going to cause death’

About 11.8 million people are at risk of losing their health insurance, according to the Congressional Budget Office

The Independent UK

A wealth tax which would hit London hard is up to Chancellor Rachel Reeves, says minister

The Government is not ruling out new tax rises after a Labour revolt over welfare reforms blew a £5 billion hole in the Treasury’s spending plans

Evening Standard

Rachel Reeves should be as open as possible about tax rises

THE INDEPENDENT VIEW: Editorial: The chancellor ought to take citizens into her confidence as she ponders her Budget choices. Rachel Reeves needs to explain the trade-offs behind the difficult decisions that she is about to make, if she wants people to support them

The Independent UK

Voices: For crying out loud: Are you ready for the ‘politics of pain’ about to hit us?

COMMENT: I once accused the PM and his chancellor of being too gloomy, writes John Rentoul. Turns out they were not gloomy enough – and they’ll have to lead the nation through another vale of tears

The Independent UK

Voices: Starmer has been given two black eyes by his party – but here’s how he could fight back

COMMENT: Bruised by his welfare reforms battle, the prime minister is on a hook of his own making. With a little help from Westminster, he can wriggle off, says Andrew Grice

The Independent UK

Warnings of tax rises after Downing Street welfare U-turn

Some 126 Labour backbenchers had signed an amendment that would have halted the Universal Credit and Personal Independence Payment Bill in its tracks.

Evening Standard

Republicans aim to revive Texas wins in sweeping budget package - Roll Call

Big priorities for the Texas GOP delegation may have gotten a new lease on life when senators released revised reconciliation text.

Roll Call

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Laptop

GeForce RTX 5050 brings next-gen gaming to the masses with Blackwell laptops starting at $999

Nvidia’s entry-level RTX 5050 makes a strong case for budget gamers, but the laptop variant may be the real star.

The Independent UK

Voices: Starmer and Reeves are back from the brink – here’s what they must do next

INSIDE WESTMINSTER: After a spending review that came as a relief to many Labour backbenchers, the government must now start making the case for the ‘inevitable’ tax rises in the autumn that will be needed to deliver better public services, says Andrew Grice

The Independent UK

These cities offer luxury for less with five-star stays for under £200 a night

Which cities around the world should you be travelling to for luxury on a budget? New research from Hotels.com reveals the most cost-effective destinations to secure a stunning hotel for less

The Independent UK

Voices: Yes, ‘Renewal’ Reeves needs to raise taxes – but how will she pull it off?

COMMENT: The chancellor’s fiscal headroom is already compromised by her commitment to tackle child poverty, writes Sean O’Grady. So she needs luck – and to be more boring than ever – to raise the revenue she desperately needs

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Roll Call

Bessent, House Democrats spar over budget package's debt boost - Roll Call

Democrats questioned Treasury Secretary Scott Bessent over the effect of Republicans’ “big, beautiful” reconciliation bill on the debt.

The Independent UK

Rachel Reeves must do more than hope for the best when it comes to paying for Labour’s spending

THE INDEPENDENT VIEW: Editorial: The chancellor has to balance the competing demands of ministers in her spending review but must make sure she keeps Britain’s finances on a secure footing

The Independent UK

Voices: Rachel Reeves is undermined by a ‘spend now, pay later’ prime minister

COMMENT: John Rentoul says Sir Keir Starmer is guilty of Trussonomics, albeit on a smaller scale, making promises without knowing how to pay for them – hoping that the chancellor can sort it out later

The Independent UK

Voices: Are Rachel Reeves and Keir Starmer in denial about the ‘T’ word?

COMMENT: In a key speech in Rochdale, the chancellor stuck to Labour’s manifesto pledge not to raise income tax, national insurance for employees and VAT, saying she had ‘absolutely no intention’ of repeating the £40bn tax hike in her first Budget. Her words may well come back to haunt her,…

Evening Standard

Farmer killed himself the day before Budget ‘to save farm’, son tells inquest

Mr Charlesworth, 78, who went by his middle name Philip, was found dead by his son Jonathan Charlesworth, 47, in a barn on their farm.

The Independent UK

Rachel Reeves should invest extra money in economic growth, not spend it on U-turns, former adviser warns

Exclusive: Call from former Treasury minister Jim O’Neill will pile pressure on chancellor and PM amid demands for hat-trick of U-turns on winter fuel allowance, two-child benefit cap and disability payments

The Independent UK

Voices: After the winter fuel decision, Labour is now openly at war with itself

INSIDE WESTMINSTER: Far from defusing the growing unrest within his party, the prime minister’s U-turn has emboldened backbenchers to demand even more sweeteners, says Andrew Grice

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