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The Latest Breaking News from Darren Jones

Pound slump means motorist pain at the petrol pump

Crude oil is priced in dollars in international markets, meaning that a weaker pound makes for pricier fuel

The Independent UK

Government says ‘no need for emergency intervention’ in financial markets

Uncertainty over fiscal stability and wider global pressures caused sterling to weaken on Thursday.

Evening Standard

PM will not moderate language on Truss despite cease and desist letter – No 10

Downing Street questioned whether Ms Truss would also be writing to ‘millions of people up and down the country’ who shared the Prime Minister’s view.

The Independent UK

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Warning food prices could soar by 20% as pressure mounts on Reeves over flailing economy

Exclusive: Fears of a massive rise in the cost of imports have fuelled calls for Rachel Reeves to cancel her China trip with warnings that the UK is on the cusp of a financial crisis and recession

The Independent UK

Rachel Reeves urged to scrap China trip as Pound falls to year low and borrowing costs soar

But Treasury minister Darren Jones defended the Chancellor’s foreign trip

Evening Standard

Treasury minister moves to reassure markets after UK borrowing costs soar

Treasury chief secretary responds to urgent question in Commons as market turmoil hits pound

The Guardian - UK

Rachel Reeves faces claims of ‘fleeing to China’ amid concerns over UK borrowing

The Chancellor has a long-planned trip to China scheduled for this week and Treasury minister Darren Jones described it as ‘important’ to UK trade.

Evening Standard

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Markets ‘orderly’ despite soaring borrowing costs, says Treasury minister

It came as the pound slid to its lowest level since November 2023.

Evening Standard

MPs support proposals to give Crown Estate more investment and borrowing powers

Plaid Cymru MP Llinos Medi criticised the ‘huge extraction of wealth’ from Welsh communities and called for devolved control over the Crown Estate.

The Independent UK

Voices: Rachel Reeves is relying on a risky strategy – that may well backfire

COMMENT: The chancellor’s approach can hardly be considered prudent – especially when it depends so heavily on economic growth, writes John Rentoul

The Independent UK

UK pledges £225million support for Ukraine as Zelensky admits his forces can't defeat Russia on battleground

UK says it is providing ‘battle-winning capabilities’ to Kyiv including drones and munitions

Evening Standard

'Head in the sand': Labour will not give estimate of Brexit's economic impact

Labour have been accused of “hypocrisy of the highest order” for saying they will not undertake analysis of the economic impact of the UK…

The National (Scotland)

Savings target different to Osborne’s austerity-era cuts, says Reeves

The Chancellor said there would be a ‘real-terms increase’ in Government spending despite departments being told to meet the target.

The Independent UK

Reeves to take ‘iron fist’ to waste as departments challenged to find 5% savings

The Chancellor said finding ways to save money would allow resources to be focused on the Government’s priorities.

Evening Standard

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The Independent UK

Reeves warns ministers of cuts as ‘every pound’ of government spending to face review

In letters sent by Chief Secretary to the Treasury Darren Jones, departments will be told ‘difficult’ spending decisions will be required

Evening Standard

Ministers warned of cuts as ‘every pound’ of spending to face review

In letters sent by Chief Secretary to the Treasury Darren Jones, departments will be told ‘difficult’ spending decisions will be required.

Evening Standard

Starmer and Macron to discuss Ukraine ahead of Armistice commemorations

The Prime Minister is heading to the French capital at the invitation of the French president to attend the annual event.

The Guardian - UK

Starmer joins Macron on Armistice Day in Paris to show European solidarity

British and French leaders discuss Ukraine and Middle East amid fears for future of Nato after Trump’s re-election

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The Independent UK

Trump to target EU over UK in trade war as he wants to see ‘successful Brexit’, former staffer claims

Peggy Grande told The Independent that Donald Trump is likely to give a ‘preferential trade deal to the UK’

The Guardian - UK

UK ‘planning lots of scenarios’ for Donald Trump’s approach to Ukraine

Chief secretary to the Treasury says security and defence spending are a priority but require ‘trade-offs’

Evening Standard

Reeves to make pensions pitch in first Mansion House speech

Her speech will come against a backdrop of criticism from the hospitality sector about changes to national insurance contributions.

Evening Standard

Whitehall ‘considering lots of different scenarios’ amid tariff fears – minister

Chief Secretary to the Treasury Darren Jones said US President-elect Donald Trump recognised the important relationship between the UK and America.

Evening Standard

No date for increasing defence spending to 2.5% of GDP, says Treasury minister

Darren Jones said it will depend on the outcome of the strategic defence review, which is currently under way.

The Independent UK

Labour ‘unlikely’ to accept Farage’s offer to become UK’s ambassador to Trump, says treasury secretary

Treasury secretary Darren Jones has said Labour is “unlikely” to accept Nigel Farage’s offer of acting as an interlocutor between the UK and the US.

The National (Scotland)

Who is on this week's Sunday With Laura Kuenssberg show - see full list of guests

LAURA Kuenssberg will once again be joined by a variety of guests on her BBC show on Sunday morning ...

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