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The Latest Breaking News from Budget

Bank of England slashes interest rates to 4.75%

The second move in three months reduces the official cost of borrowing to its lowest level since summer 2023

Evening Standard

UK politics live: Reeves dismisses Lammy’s Trump ‘Neo-Nazi’ jibe as Farage’s mediation offer snubbed by Labour

The US election result has brought past comments made by foreign secretary David Lammy about Donald Trump back into the limelight

The Independent UK

Interest rates live updates: Bank of England base rate cut to help slash mortgage bills

Inflation fell below the Bank of England’s 2% target in September for the first time in three years

The Independent UK

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MSPs ‘deeply concerned’ about Government’s lack of strategic financial approach

Holyrood’s Finance Committee said the Scottish Government is failing to take a long-term view.

The Independent UK

Chancellor Rachel Reeves’ Budget clears first House of Commons hurdle

MPs approved a series of Budget resolutions on Wednesday, which included an increase to employers’ national insurance contributions and a vapes tax.

Evening Standard

Treasury denies breaking law over ‘black hole’ in public finances

The way information is provided to the Office for Budget Responsibility is being changed following issues in March.

The Independent UK

Treasury denies breaking law over 'black hole' in public finances

The way information is provided to the Office for Budget Responsibility is being changed following issues in March

Evening Standard

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Labour doesn’t understand the countryside, say farmers in warning ‘tractor tax’ will destroy village life

Farmers say they’re already seeing the ‘slow erosion of country life’ as they warn last week’s Budget could have dire consequences

The Independent UK

Rachel Reeves gives top official vote of confidence in row over Budget black hole cover-up

Exclusive: The chancellor gave officials a vote of confidence ahead of she and her Treasury permanent secretary James Bowler facing questions from MPs today

The Independent UK

Kemi Badenoch attacks ‘cruel family farms tax’ in PMQs debut

The leader of the Opposition also accused ministers of ‘student politics’.

Evening Standard

M&S reveals £120m hit from Budget measures

The firm said it would do ‘everything we can’ not to pass on the extra costs to consumers, but ‘cannot rule anything out’.

Evening Standard

Growth in UK construction sector slows amid housebuilding decline

The latest S&P Global construction purchasing managers’ index (PMI) scored 54.3 in October, down from 57.2 in the previous month.

Evening Standard

London politics LIVE: Badenoch attacks Starmer and Lammy over Trump comments at first PMQs as Tory leader

New Tory leader used US election victory of Donald Trump to go on offensive against Labour government

Evening Standard

Persimmon cautions over Budget cost hit as home sales fall

The building giant said home sales fell between July and November, to 1,416 from 1,439 a year ago.

The Independent UK

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Evening Standard

Wetherspoon boss warns over price hikes after Budget tax rises

Tim Martin, Wetherspoon’s chairman, said he believes ‘all hospitality businesses’ are planning to pass on higher costs through price hikes.

The Independent UK

Reeves faces grilling by MPs over Budget measures

Changes announced in the Budget will come under scrutiny from the Treasury Select Committee on Wednesday.

Evening Standard

Rachel Reeves faces grilling by MPs over tax hikes and increased spending in Budget

Measures announced in Budget will come under scrutiny from the Treasury Select Committee on Wednesday

The Independent UK

Badenoch to challenge Starmer in first PMQs for new-look Opposition

The former minister is preparing for her debut battle at the despatch box on Wednesday.

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The Independent UK

Survey finds 81% of councils on course to overspend adult social care budgets

Adass said if the recent trend continues, within a couple of years all council adult social care budgets in England will be overspent.

The Independent UK

Darren Jones suggests Tory shadow minister has ‘amnesia’

Mr Jones’s comments were aimed at shadow Treasury minister Alex Burghart, who had described the Budget as being ‘as bad as bad can be’.

Evening Standard

Bombshell claim Rishi Sunak's government 'didn't follow law' on revealing scale of UK public finances crisis

The allegation came from the independent Office for Budget Responsibility

The Independent UK

Jeremy Hunt’s Treasury may have broken the law by hiding Budget black hole, says OBR

£9.5bn spending gap wasn’t disclosed, ‘which under the law ... they should have done’, says fiscal watchdog

The Independent UK

Labour accused of ‘traumatising’ farmers in ‘tractor tax’ raid amid warning over mental health crisis

MPs and farmers have attacked the government’s decision to extend inheritance tax to family farms

Evening Standard

Welsh farmers ‘threatened’ by changes to inheritance tax

Eluned Morgan, the Welsh First Minister, has defended the UK government’s budget during FMQs.

Evening Standard

Fee rise will not fix ‘financial pressures’ facing universities due to NI hike

Changes announced in the Budget around employers’ national insurance contributions will cost the sector around £372m, it has been suggested.

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