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The Latest Breaking News from Budget

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

The Independent UK

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.

Evening Standard

The Liz Truss Show: Former PM claims she will confront ‘deep state that tried to destroy me’ in new programme

Ex-Tory leader says she wants to spark ‘Trump-style counter-revolution’ to defend Western values

The Independent UK

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Budget worries saw savers sell-down equities at record rate

Data from global funds network Calastone shows £6.7 billion was pulled in the two months leading up to the Chancellor’s fiscal statement.

The Independent UK

Will your house be a 'mansion' by 2028? The London areas on the cusp of mansion tax threshold

Selling a home in the London villages where homes are approaching £2m just got harder with Labour’s mansion tax

Evening Standard

The one thing super-successful entrepreneurs do after a big-money sale is....

Roy Shaby sold his first business to Uber’s founder Travis Kalanick - here he tells how he’s scaling his second start-up differently, while there’s a chance to tell the Government your views on tax support for entrepreneurs

Evening Standard

Hunt launched for sources of pre-Budget leaks after Reeves criticism

The leaks culminated in the unprecedented early publication of the Office for Budget Responsibility’s economic and fiscal outlook

The Independent UK

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Buoyant miners fail to fire lacklustre FTSE 100

Miners led the way in London on rising metals prices, with copper showing particular strength.

Evening Standard

Reeves accused of forcing OBR chief to quit after watchdog revealed truth about Budget black hole

Tory leader Kemi Badenoch led the accusation about Richard Hughes, the former chair of the Office for Budget Responsibility

The Independent UK

Watch in full: Starmer faces Budget grilling at PMQs

Watch as Sir Keir Starmer faces a grilling over the Budget at Prime Minister's Questions on Wednesday (3 December).

The Independent UK

Labour MP Markus Campbell-Savours suspended after rebelling against Reeves’s tractor tax

Dozens of Labour MPs abstained from the vote in a fresh blow to Rachel Reeves

The Independent UK

Households ‘have been shoring up cash Isas amid uncertain economic backdrop’

The Government announced in the Budget that the annual adult cash Isa subscription limit will be reduced to £12,000 from April 2027.

Evening Standard

Rate of business closures in the UK falls to lowest level since 2016

Data from the Office for National Statistics reveals around 280,000 businesses across the UK closed in 2024, down from 310,000 in 2023.

Evening Standard

Government urged to review farming inheritance tax plans after Commons vote

Backbenchers argued the measure failed to tackle "abuse by the celebrities and the billionaires" who buy farmland to avoid paying a full inheritance tax bill

The Independent UK

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The Independent UK

The jury is still out on David Lammy’s ‘swift court’ reforms

THE INDEPENDENT VIEW: Editorial: The lord chancellor is right to adopt urgent measures to tackle a court backlog that is ruining lives and depriving so many of justice – but even if it takes years, the general presumption of a basic right to trial by jury must be restored

The Independent UK

Labour warned of fresh economic hit as Brexit accelerates high-skilled ‘brain drain’ from UK

‘None’ of the Labour chancellor’s measures will ‘have a material effect’ on growth, Richard Hughes, the chair of the OBR, has said

Evening Standard

Budget crisis engulfs Rachel Reeves as OBR watchdog slams Treasury briefings

The leading economists also predict that interest rates will fall from 4% to 3.5% by the second quarter of 2026

The Independent UK

Government drafts in new violence against women and girls adviser amid fears it will miss its target

Exclusive: Labour MP Jess Asato has been drafted in to lead a major overhaul of the NHS’s response to violence against women and girls – just days after Refuge branded the chancellor’s Budget a ‘profound disappointment’ to survivors

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Evening Standard

UK Government was ‘digging its own black hole’ before Budget, says Flynn

The Chancellor has been accused of misleading the public ahead of the Budget.

Evening Standard

Annual UK house price growth slowed in November and 'affordability likely to improve'

The increase in taxes on income from properties may dampen the supply of new rental properties coming onto the market, the society said

The Independent UK

Annual house price growth slowed in November – Nationwide Building Society

The increase in taxes on income from properties may dampen the supply of new rental properties coming onto the market, the society said.

The Independent UK

Starmer: We have to work with China – even if it threatens national security

The prime minister used his Mansion House speech to defend a ‘thawing’ of relations with Beijing – potentially laying the groundwork for a controversial new super embassy to be given approval

The Independent UK

OBR chairman resigns over Budget leak

Richard Hughes has served as chairman of the Office for Budget Responsibility since 2020 and was reappointed to the job in July.

Evening Standard

OBR chief Richard Hughes resigns amid growing chaos over Budget as PM defends Chancellor

Treasury minister James Murray told the Commons that the Government backs a ‘deeper forensic investigation’ into previous Office for Budget Responsibility (OBR) disclosures

Evening Standard

Starmer says there was ‘no misleading’ by Chancellor ahead of Budget

Rachel Reeves has also reportedly been accused of misleading the Cabinet.

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