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The Latest Breaking News from G7

Is this hotel the best place to stay along the north Cornish coast?

Just outside St Ives sits a tranquil spot of remarkable luxury, writes Marc Mayo

The Independent UK

Canada 'No Longer Just Talking,' With A $4.6 Billion Critical Minerals Investment

Canada has announced a 6.4 billion Canadian dollar ($4.6 billion) package of critical mineral projects to challenge China’s overwhelming dominance in the critical mineral supply chain. The announcement came on Friday at the close of the G7 Energy and Environment Ministers’ meeting in Toronto.

Benzinga

Rachel Reeves considers 20% tax on assets of people deciding to leave UK

Plans for ‘settling-up charge’ predicted to raise £2bn and would follow policy in place among most G7 countries

The Guardian - UK

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‘The money machine is misfiring’: City blames Brexit for UK’s £20bn productivity headache

Poor output since the leave vote has landed Rachel Reeves with a bigger-than-forecast budget spending gap

The Guardian - UK

Reeves heads into Budget with public finances in challenging state – Streeting

Health Secretary Wes Streeting said the economy was not ‘out of the woods yet’ ahead of Rachel Reeves’ November 26 Budget.

Evening Standard

What is the reparations loan for Ukraine and why is the EU stuck with the plan?

An audacious plan to use Russia's immobilised assets to issue a €140-billion loan to Ukraine is held up by EU leaders. Here's why.

Euronews

European leaders near deal to use frozen Russian assets for Ukraine

Plans to secure loan with Russian funds ‘moving to happy resolution’, says Polish foreign minister

The Guardian - UK

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China And US Agree To Fresh Trade Talks

China and the United States agreed Saturday to conduct another round of trade negotiations in the coming week, as the world's two biggest economies seek to avoid another damaging tit-for-tat tariff battle.

International Business Times

US Treasury Chief To Speak With China Counterpart As Tensions Flare

US Treasury Secretary Scott Bessent is set to speak Friday with Chinese Vice Premier He Lifeng, an official from President Donald Trump's administration told AFP -- as Washington works to rally allies to respond to Beijing's rare earth curbs.

International Business Times

Trump claims Modi has agreed to stop importing Russian oil to India

Trump prepares to rope in China and Japan to agree to half energy imports from Russia

The Independent UK

Chancellor facing further Budget challenges after muted economic growth

The ONS said GDP rose by 0.1% in August and fell by 0.1% in July, in a revision to the previous estimate for no growth.

Evening Standard

Ukraine-Russia war latest: Zelensky in US for Trump meeting after President announces new Putin summit

Ukrainian president will hold talks in the Oval Office after Trump said he would meet Putin in Hungary

The Independent UK

Ukraine war briefing: ‘Bit of a process’ but India will give up Russian oil, Trump claims

US president says Narendra Modi, India’s prime minister, has given him an assurance; EU to work on G7 leaders about Russian assets. What we know on day 1,331

The Guardian - AU

Reeves suggests higher taxes on wealthy will be in Budget

The Chancellor said the economy is still suffering from the impacts of leaving the European Union, austerity policies and Liz Truss’s mini-budget.

Evening Standard

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The Guardian - UK

Rachel Reeves says higher taxes on wealthy ‘part of the story’ for November budget

Chancellor hints at rises and calls out past ‘scaremongering’ over VAT on private schools and changes to non-doms

International Business Times

EU Economy Chief Urges G7 To Join Plan Tapping Russia Assets For Ukraine

The EU will urge G7 partners to consider tapping immobilized Russian assets in aiding Ukraine, the bloc's economy commissioner told AFP on Wednesday, as finance ministers of the group convene in Washington.

Evening Standard

Chancellor Rachel Reeves hints she's looking for tax rises and spending cuts in upcoming Budget

Chancellor Reeves fails to accept responsibility for economic woes as she blames impact of Brexit, austerity policies and ex-PM Liz Truss's mini-budget

The Independent UK

Reeves admits she’s looking at tax rises and spending cuts in Budget

The chancellor blamed Brexit for the move, saying it has had a ‘severe’ impact on the public finances

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The Guardian - UK

UK government borrowing costs fall as Reeves hints at tax rises – as it happened

Rolling coverage of the latest economic and financial news

Evening Standard

Reeves eyes tax hikes as economy suffers ‘severe and long-lasting’ Brexit impact

Rachel Reeves said ‘austerity, Brexit, and the ongoing impact of Liz Truss’s mini-budget’ had weighed heavily on the UK economy.

Evening Standard

Reeves to touch down in Washington after IMF warns of rising UK inflation

The Chancellor is to champion Britain as a place where investors and businesses can count on economic stability during meetings in Washington DC.

The Independent UK

The government cannot afford to limp on without an economic strategy

THE INDEPENDENT VIEW: Editorial: As the IMF downgrades its UK growth projection for next year, it also predicts we will have the highest inflation of any G7 country. Ahead of a Budget that will doubtless raise taxes, it is time the prime minister made the case for what his administration…

The Guardian - UK

UK faces highest inflation in G7 this year and next, IMF warns

According to fund’s World Economic Outlook, Britain is on course to average 3.4% this year and 2.5% in 2026

Evening Standard

UK inflation to rise to highest in G7, warns IMF as food costs surge

It came as the IMF increased its UK growth forecast for this year but reduced its prediction for 2026 amid concerns over the labour market.

The Guardian - UK

World economy resilient amid Trump tariffs but outlook looks ‘dim’, says IMF

UK and global GDP growth forecasts upgraded for this year but immigration controls could have negative impact

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