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The Latest Breaking News from Rachel Reeves

Tax hike fears mount after government borrowing jumps in May

The ONS said borrowing surged to £17.7 billion last month, the second highest figure on record for May

Evening Standard

Reeves may need to raise taxes by £20bn in autumn after UK borrowing rises

May figure second highest for month on record amid fears chancellor is struggling to keep within spending rules

The Guardian - UK

Voices: Don’t panic, chancellor – there’s still hope for interest rate cuts

COMMENT: Forget homeowners with tracker mortgages or those desperate for a better deal – the person who’s hurting the most from the Bank of England’s decision not to lower interest rates is Rachel Reeves, says James Moore

The Independent UK

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Bank’s rate decision leaves frustrated Reeves praying for an August cut

Lower interest rates will be a lever for growth but the Middle East conflict and rising food prices will have troubled MPC

The Guardian - UK

Reeves promised oil industry ‘quid pro quo’ over windfall tax in private meeting

Government accused of making ‘secret exchange deal’ with fossil fuel companies to compensate for tax hike

The Guardian - UK

Rachel Reeves Backtracks? Treasury May Soften Tax Blow After Rich Flee UK - Fashion Central UK

Chancellor Rachel Reeves is considering reversing a key part of her non-dom tax reforms following an exodus of wealthy individuals from Britain. The Treasury

The Fashion Central

Repeated failings by the nursing regulator demand a new approach

THE INDEPENDENT VIEW: Editorial: No stranger to oversight errors, the Nursing and Midwifery Council has now been revealed to have allowed hundreds of underqualified or fraudulently qualified nurses to work in Britain. Wes Streeting should now draft in his predecessor to assist in rooting them out

The Independent UK

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Voices: Who’s to blame for food price hikes – supermarkets or Rachel Reeves?

COMMENT: The retail giants point the finger at the chancellor’s business tax rises as food inflation jumps to 4.4 per cent – so, asks James Moore, are they right, and will mortgages and petrol pump prices be next?

The Independent UK

Voices: Rachel Reeves cannot afford to lose any more non-doms

COMMENT: Even if the exodus of billionaire entrepreneurs and investors has finally forced the chancellor to rethink her decision to tax non-domiciled individuals based on global assets, Chris Blackhurst says she will have much more to do to shake off the feeling that this government cannot abide the ‘filthy rich’

The Independent UK

Reeves considers U-turn on non-dom crackdown to halt exodus of wealthy

Chancellor could look to stem the flow of wealthy taxpayers leaving UK after Britain experienced its most significant drop in billionaires ever last year

The Independent UK

UK inflation rate holds as air fares and fuel prices decrease – but risk remains

At 3.4 per cent inflation remains far above the Bank of England’s target

The Independent UK

UK economic growth downgraded in blow to Rachel Reeves

The Confederation of British Industry said rising costs are set to dampen the government’s growth ambitions

The Independent UK

Defiant Rayner says ‘underestimate me at your peril’ over criticism of huge housing pledge

Exclusive: The deputy prime minister, writing for The Independent, has hit back at critics as she unveils a new housebuilding measure as Labour targets 1.5 million new homes over this parliament

The Independent UK

National Housing Bank ‘will boost delivery of new homes’

The new body will be designated as a public financial institution and will work with mayors and local leaders, the Government said.

Evening Standard

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The Guardian - UK

Reeves considers softening inheritance tax changes amid non-dom backlash

Chancellor is keen to mollify wealthy global investors and attract foreign investment into the UK

Evening Standard

Hopes rise that Hammersmith Bridge could re-open with repairs money from £1 billion Structures Fund

Repairing the 138-year-old bridge, which has been closed to motor vehicles for six years, would be a major boost to west London

The Independent UK

Keir Starmer tells councils to pick up the bill for Labour’s spending commitments

As the row over the spending review continues, the prime minister has washed his hands of expected large increases in local taxation

Evening Standard

Starmer: Spending review marks new phase after first year of ‘cleaning up mess’

Sir Keir Starmer said Labour spent most of its first year since winning power in July 2024 taking ‘tough but necessary decisions’.

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news in one place.

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The Independent UK

Starmer insists he will not ‘massage the figures’ as he vows to shut all migrant hotels properly

It comes as Keir Starmer and Italian PM Giorgia Meloni discussed a new sanctions regime on people smugglers

The Guardian - UK

Keir Starmer’s biggest U-turns since Labour came to power

From benefit cuts to foreign aid, the most striking about-turns since the prime minister took the reins

The Fashion Central

Fury Erupts as 100,000 Asylum Seekers May Get Homes While Brits Struggle Through Housing Crisis

More than 100,000 asylum seekers could soon be placed into taxpayer-funded homes, including houses, flats, and bedsits, and it's left plenty of people across

Evening Standard

Winter fuel payment in Scotland to match UK benefit

First Minister John Swinney confirmed the move in the wake of the Chancellor’s U-turn last week.

The Independent UK

Treasury minister forgets where new Thames crossing is being built – and how much it will cost

Emma Reynolds came unstuck over questions about the cost and location of the flagship infrastructure scheme

The Guardian - UK

UK petrol prices poised to rise as Israel-Iran conflict pushes up cost of oil

Brent crude falls by 3.4% late on Monday amid reports of potential talks to end the hostilities

The Independent UK

UK forces could defend Israel against Iranian attacks

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