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The Latest Breaking News from Budget

Bank of England cuts interest rates to near three-year low

The Bank’s Monetary Policy Committee voted to reduce rates from 4% to 3.75%.

Evening Standard

Boost for Reeves as inflation drops to 3.2% in November

Bigger than expected drop opens the way for an interest rate cut from the Bank of England

Evening Standard

FCA prepared to tweak car loan compensation scheme after pushback, boss says

The Financial Conduct Authority’s consultation on its proposed motor finance redress scheme closed last week, with more than 1,000 responses.

Evening Standard

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Businesses ‘buoyed’ by spike in new work post-Budget, but job-cutting persists

December’s PMI data indicated the strongest upturn in the level of new work for firms in 14 months.

Evening Standard

Young people bearing the brunt as jobless rate hits 5.1% ahead of Budget

The Office for National Statistics said there had been an 85,000 increase in those unemployed aged between 18 to 24 in the three months to October.

Evening Standard

New index reveals Reeves’ Budget has downgraded the value of a British passport

The fall is the biggest of any of the G7 countries with the UK overtaken by a string of European counterparts including Bulgaria, Greece, Romania, Czech Republic, Italy and Hungary

The Independent UK

Starmer says he will ‘get to the bottom’ of pre-Budget leaks

The Prime Minister said he had no reason to believe that a leak of plans ahead of the Budget had come from No 10.

Evening Standard

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Will London’s battered high streets get the Christmas boost they need?

After a grim year, retailers are panicking that shoppers aren’t spending enough to help them survive January, writes Jonathan Prynn

Evening Standard

Budget blowout 'modest' for Australia's Olympic hosts

The mid-year budget report card has revealed a "modest" budget blowout as one state continues counting down to the 2032 Olympic Games.

AAP

Average house price is £6,695 lower than in November, says Rightmove

Lower asking prices and falling mortgage rates could help create a bigger than usual Boxing Day bounce in property searches, Rightmove said.

The Independent UK

Christmas attractions face sharp rise in property taxes after Budget

However, other major retail destinations and Christmas shopping locations, such as Harrods, will see their payments fall.

Evening Standard

Jeremy Clarkson joins hundreds of pub landlords in banning Labour MPs in Budget backlash

The “#taxedout” campaign backed by UK Hospitality has seen more than 250 pubs already put up signs banning Labour MPs from their premises

The Independent UK

Jeremy Clarkson bans all Labour MPs from his Cotswolds pub in fury at tax hike

TV star's business rates bill has soared from £28,000 to over £50,000 as hospitality industry revolts against Chancellor's Budget

Evening Standard

'No Entry for Keir Starmer and Labour MPs!': Hundreds of Pubs Bar Labour Politicians After New Business Rates Blow

Hundreds of UK pubs have barred Labour MPs, including Keir Starmer, in protest over rising business rates and the latest Budget changes.

International Business Times UK

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The Independent UK

Interest rate cut next week ‘nailed on’ as UK economy grows just once in seven months

Pre-Budget worries and speculation that chancellor Rachel Reeves would hike income tax has been blamed

Evening Standard

Pre-Budget jitters blamed for surprise contraction in economy

Official figures showed the UK economy shrank for the second month running in October, contracting by 0.1% following a 0.1% decline in September.

The Independent UK

UK economy unexpectedly shrank in October in fresh blow for Rachel Reeves

Economy contracted by 0.1 per cent in October, according to the Office for National Statistics

Evening Standard

Publicans ‘petrified’ over closures and job cuts after Budget tax increases

Industry bosses are calling for urgent tax relief after holding an emergency meeting on Wednesday.

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Evening Standard

New home buyer inquiries fell to two-year low in November – Rics

Survey feedback continues to point to a gentle decline in house prices overall, the report said.

Evening Standard

Resign over Budget briefing chaos, Reeves urged as she orders leak inquiry at the Treasury

Chancellor Rachel Reeves has been urged to resign over the chaos in the run up to her financial statement

Evening Standard

Pre-Budget shopper ‘jitters’ dampen Black Friday sales

Total retail sales across the UK increased by 1.4% year on year in November – the weakest growth in six months, BRC and KPMG figures show.

The Independent UK

Banks in mortgage war as rates plunge in major boost to buyers

Santander and Nationwide have both dropped rates again in a bid to spark up property moves

The Independent UK

Millions of pension savers set to lose out after major Budget changes

IN FULL

Evening Standard

Child poverty strategy ‘will give every child a good start in life’

The plan comes amid a record high of 4.45 million children living in poverty in the UK.

The Independent UK

Labour vows to ‘give every child a good start in life’ with child poverty strategy – but critics warn it’s not enough

While Sir Keir Starmer said tackling poverty is a ‘moral mission’ for him, campaigners have expressed concern the strategy lacks ambition

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