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The Latest Breaking News from Paul Johnson

Reeves unveils record spending plans but experts warn of tax rises ahead

Chancellor announces £39bn boost for social housing, £29bn for NHS and £11bn for defence – and promises to close all asylum hotels as she takes a swipe at Farage and dismisses Tory warnings of a ‘cruel summer’ of tax rises

The Independent UK

More tax rises on the way 'if anything at all goes wrong' with Rachel Reeves economic plans, IFS warns

The Chancellor has very little economic cushion to deal with any unexpected events

Evening Standard

Defence secretary fails to rule out tax rises to fund defence spending uplift

While John Healey said he is ‘100 per cent confident’ the defence spending uplift would be achieved, he struggled to say how it would be paid for

The Independent UK

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Starmer warned of need for ‘chunky tax rises’ to pay for new military spending

Prime Minister Sir Keir Starmer said he was ‘100% confident’ cash would be available for all plans laid out in the new strategic defence review.

Evening Standard

Starmer ‘known around the world’ for cutting winter fuel payments for pensioners, top economist says

Labour’s winter fuel cuts have been blamed for the party’s disastrous local election performance

The Independent UK

‘Don’t fight the Oval Office’: Investors are finally taking Trump seriously, and it’s causing a volatility spike

Volatility has plagued stocks in recent months, and major indexes are down since Trump’s election in November.

Fortune

Top economist urges Reeves to raise basic rate of income tax for first time in 50 years

Institute for Fiscal Studies boss Paul Johnson warned Donald Trump’s trade war is ‘badly buffeting’ the UK economy

The Independent UK

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Downing Street says Trump’s tariffs signal ‘new era’ in global economics

Experts say UK may have to raise taxes in autumn as senior MPs caution against too many concessions in US trade talks

The Guardian - UK

Starmer says Government record shows ‘mindset’ opposed to tax rises

The Prime Minister said he would not ‘write future budgets’ ahead of time.

The Independent UK

Reeves could tax pensions and wealth if economy worsens, says IFS

Chancellor may have to reconsider pledge not to raise taxes in light of ‘risky and changing world’, thinktank says

The Guardian - UK

Reeves on a double knife edge as she could be forced to order ‘blockbuster’ tax rises, say experts

Critics said her future as chancellor is under threat as a result of errors she has made since taking charge of the economy last year

The Independent UK

Spring statement will lead to six months of ‘damaging speculation’, IFS warns

The Institute for Fiscal Studies said Rachel Reeves’ adherence to fiscal rules will lead to speculation about tax hikes in the autumn budget.

The Independent UK

Wealth tax almost impossible to implement, leading economist warns

‘No country in the world has ever successfully had a wealth tax’, IFS director Paul Johnson told The Independent

The Independent UK

Millions Face £1,200 Benefit Cut as Rachel Reeves Pushes ‘Brutal’ Welfare Overhaul

Millions of disabled and long-term sick claimants could see their benefits slashed by as much as £1,200 a year as Rachel Reeves pushes ahead with major welfare cuts.

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The Independent UK

Sick and disabled face being stripped of £1,200 a year each in welfare benefits as Reeves tries to balance Budget

As the OECD downgraded British growth forecasts, chancellor Rachel Reeves is still arguing over details of benefits cuts ahead of a major statement in the Commons

The Guardian - UK

Five years on: Britons among hardest hit by Covid fallout

Life expectancy, homelessness and young people’s mental health were among the areas where Britain performed poorly despite spending more than other countries

The Independent UK

Reeves to be forced into fresh tax hikes or austerity drive by faltering economy, top economists warn

Rachel Reeves is warned it will be tough to find extra money for defence spending without raising taxes

Evening Standard

Chancellor could have to break one annual fiscal event commitment – experts

The Chancellor will deliver a statement on March 26 in response to the latest forecast from the budget watchdog.

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The Independent UK

Starmer accused of fiddling the figures on defence spend increase

The defence secretary admitted Sir Keir’s figures were misleading as the Tories demand Labour to be ‘straight about the facts’

The Independent UK

Gloomy growth forecast adds to Rachel Reeves’ woes

The Bank of England cut interest rates but halved its growth forecast.

The Independent UK

Reeves accused of abandoning principles over China in ‘delusional’ bid to save UK economy

Exclusive: Former cabinet minister Iain Duncan Smith said that the chancellor’s trip to Beijing was a desperate move ‘because she has trashed the economy’

The Guardian - UK

Look at the farmers’ protest, and then ask yourself: how will we ever make tax fairer amid such grumbling?

Labour inherited a dire situation that needed desperate change – but powerful lobbies make any tax reform near-impossible, says Guardian columnist Polly Toynbee

Evening Standard

OPINION - Everyone agrees stamp duty is a terrible tax. So why are we stuck with it?

Yes, you can blame the Treasury if you like

The Guardian - UK

All these sad stories of the stricken rich prove one thing: Labour’s budget is on the money

Rachel Reeves’s first budget has triggered a backlash – but only the wealthiest are being asked to pay their fair share, says Guardian columnist Polly Toynbee

The Guardian - UK

After Reeves’s historic budget, Labour has time to pursue its revolution. What it needs now is public trust

The government is operating in an unforgiving time and lacks capital with voters. It will be crucial to address that, says Guardian columnist Martin Kettle

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