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The Latest Breaking News from Rachel Reeves

Reeves rightly fears the bond market, but she can afford to ditch one unhelpful rule

The chancellor has wisely vowed to drive down the annual deficit, but long-term defence investment must not be delayed

The Guardian - UK

‘It’s a twilight zone’: Iran war casts deep shadows over IMF gathering in Washington

Rachel Reeves joins global finance chiefs in highlighting how households and businesses are feeling the pain of higher energy prices

The Guardian - UK

Rachel Reeves to raise windfall tax on low-carbon electricity generators

Chancellor aims to curb households’ rising bills as she consults on reforms to weaken link between gas and electricity prices

The Guardian - UK

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Oil price plummets as Iran declares Hormuz open

‘For stock and bond market bulls around the world, this is the perfect end to the week,’ said Kathleen Brooks, research director at XTB.

Evening Standard

Labour warned against ‘self-defeating’ welfare cuts to boost defence budget

The suggestion has been branded ‘extremely concerning’

The Independent UK

Rachel Reeves unveils oil drilling plan for North Sea

IN FULL

The Independent UK

Reeves backs further North Sea drilling to boost Britain’s oil and gas supply

Chancellor says government working with energy companies to open up tie-back sites in the North Sea

The Independent UK

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The UK is losing a race against time to reach war footing

THE INDEPENDENT VIEW: Editorial: Our unreadiness for battle cannot be blamed on the present government, but even so, the prime minister and chancellor must be prepared to spend more to bring the country up to speed

The Independent UK

Reeves vows to break link between cost of gas and electricity prices in boost for UK households

“When gas prices are high, we end up paying more for our electricity, even though the cost of producing it doesn’t change,” the Chancellor said

The Independent UK

Chancellor would ‘prefer not’ to hike tax again, amid calls for defence cash

The focus should be on how money is spent rather than on the ‘quantum’ of funding, Rachel Reeves said.

Evening Standard

Rachel Reeves warns other budgets may be cut to lift defence spending

Chancellor says she is ‘working through a range of options’ to boost the armed forces but does not want to put up taxes

The Guardian - UK

Streeting risks reigniting Labour civil war in row over benefits cuts to boost defence

Health secretary’s remarks on welfare budget come as ex-military chiefs warn of the peril facing the UK if No 10 fails to invest in defence

The Independent UK

Public should be ‘reassured’ by Iran war food shortage preparation – Peter Kyle

The Government’s reasonable worst-case scenario suggests there could be less variety on supermarket shelves should fighting continue unabated.

Evening Standard

Thursday briefing: What it will take for Britain to break up with natural gas

In today’s newsletter: The economic fortunes of the UK are intertwined with the price of the costly fuel – so why are we so slow to ditch it?

The Guardian - UK

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The Guardian - UK

IMF chief Georgieva warns ‘everyone will feel the impact’ of energy price shock, as UK growth beats forecasts – as it happened

There will be flight cancellations ‘soon’ if oil supplies are not restored in coming weeks, says head of IEA

The Independent UK

Ukraine-Russia war latest: Zelensky calls Putin a ‘global threat’ after Moscow’s deadliest aerial attack this year

Russian forces pound Ukraine with 700 drones and missiles in ‘horrendous attack’

The Independent UK

Rachel Reeves slashes bills for thousands of businesses as Iran war sparks rising costs

Rachel Reeves has recently stepped up criticism of US-Israeli military action in Iran

Evening Standard

Chancellor cuts bills for thousands more firms as she continues Washington talks

Rachel Reeves has stepped up criticism of US-Israeli military action in Iran.

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The Guardian - UK

Reeves gives more energy bill support to businesses as Iran war pushes up costs

Scheme cutting bills by up to 25% expanded to cover 10,000 firms, but they will not be paid until next year

Evening Standard

Chancellor to cut electricity bills for thousands more UK firms

Rachel Reeves announced the action to support firms after warning over the lingering impact of the Iran war.

The Guardian - UK

Boosting military spending by slashing welfare is not the answer, senior Labour figures warn Reeves

MPs and peers say pitting defence and welfare against each other risks losing public support for increased spending on the military

The Guardian - UK

Trump warns US-UK trade deal ‘can always be changed’ with relations in ‘sad state’

President says he gave Britain ‘better deal than I had to’ but ally was ‘not there when we needed them’ on Iran

The Guardian - UK

Reeves tells Americans Trump’s Iran war is a ‘mistake’

UK chancellor steps up criticism, telling Washington event she is unconvinced conflict has made world a safer place

Evening Standard

Reeves steps up criticism of Trump’s war against Iran during trip to Washington

Chancellor Rachel Reeves said she was not convinced the world is safer as a result of the US-Israeli strikes against Iran.

The Independent UK

Reeves: Trump’s Iran war is a mistake and has not made the world safer

The chancellor’s comments come a day after she described the war as a ‘folly’

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