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The Latest Breaking News from Rachel Reeves

Reeves defends Budget as she searches for growth in Davos

Chancellor Rachel Reeves said she wanted the tax burden to come down but that would depend on the economy and public finances improving.

Evening Standard

Rachel Reeves seeks to win over business chiefs in Davos with Thatcherite defence of Budget

Chancellor adopted one of Margaret Thatcher’s famous phrases to argue that ‘there is no alternative’

Evening Standard

Reeves risks Cabinet row as she says growth must trump green concerns over Heathrow third runway

Chancellor is gearing up for a potential row with cabinet colleagues over major expansion of London’s airports

The Independent UK

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Reeves says need for growth trumps opposition amid Heathrow speculation

The Chancellor said opposition to measures that will boost growth have been a problem for too long in the UK.

Evening Standard

Labour strips environmental watchdogs’ powers to block building projects

In the government’s latest push to grow the economy, regulators will no longer be able to demand developers mitigate the environmental impact of new buildings before they can be constructed

The Independent UK

UK to review visas to entice more AI and science workers, says Reeves

Chancellor says she ‘absolutely’ supports wealth creation at World Economic Forum in Davos

The Guardian - UK

£18bn borrowing costs at four-year high as Reeves’s Budget headache worsens

The Office for National Statistics says public sector net borrowing in December was up £10.1bn on a year earlier

The Independent UK

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Borrowing surges to four-year high in blow to Chancellor

The Office for National Statistics said public sector net borrowing stood at £17.8 billion last month, up £10.1 billion on a year earlier.

Evening Standard

Government borrowing in December surges to £17.8 billion

Interest payments, higher public sector wages and an increase in the benefits bill all stoked the borrowing total for the month

Evening Standard

UK borrowing jumps unexpectedly, adding to pressure on Rachel Reeves

Increase to £17.8bn is well above City forecasts and is highest December figure for four years

The Guardian - UK

Davos day two: Spain’s PM warns tech billionaires threaten democracy; Jamie Dimon says ‘get over’ Trump tariffs - as it happened

Rolling coverage of the second day of the World Economic Forum in Davos, as Pedro Sanchez blasts social media owners for harming democratic systems

The Guardian - UK

What the papers say – January 22

Revelations and reactions to the Southport killings lead Wednesday’s front pages.

Evening Standard

Trump has Starmer ‘over a barrel’ on trade deal with UK facing economic turmoil, insiders claim

Exclusive: Insiders say the UK has no choice but to accept Trump’s terms for on trade as neither the EU or China has produced significant deals

The Independent UK

Chair of competition watchdog steps down after Labour intervention

Marcus Bokkerink’s departure said to be part of effort to establish UK’s pro-growth agenda for leaders at Davos

The Guardian - UK

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The Independent UK

Labour split over support for Heathrow expansion with Reeves set to give backing

Chancellor Rachel Reeves is expected to voice her support for a third runway at Heathrow despite opposition from cabinet collegue Ed Miliband and London mayor Sadiq Khan

The Guardian - UK

Gatwick still beats Heathrow hands-down if we must have another runway

Pollution aside, the problem with expanding Heathrow lies in the disruption and delay inevitable in such a complex project

The Independent UK

Departments which do not meet 5% cuts will not get new cash – Treasury minister

Chief Secretary to the Treasury Darren Jones signalled that Government spending is ‘long overdue a reckoning’.

Evening Standard

Competition watchdog chairman ‘ousted’ by Government

Marcus Bokkerink left his post as chairman of the Competition and Markets Authority, after criticism the watchdog was not focused enough on growth.

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Evening Standard

Lloyds and Close Brothers shares surge after Reeves steps in on car finance case

The lenders are two of the biggest players in the car loans sector and could be saddled with billions in combined compensation costs.

The National (Scotland)

Labour Government to go ahead with £600m loan to Ineos for Belgium plant

RACHEL Reeves has been questioned why the UK Government is continuing to go ahead with a £600 million loan for an Ineos project in Belgium…

Evening Standard

Chancellor urged to use Ineos support as leverage to help save Scottish jobs

The issue of a £600 million loan guarantee for a Belgian petrochemical plant was raised during Treasury questions in the Commons.

The Independent UK

Three quarters of a million hospitality workers ‘dragged into higher tax regime’ following Budget

Chancellor Rachel Reeves said at the Budget last year that she will raise employers’ national insurance contributions in a bid to raise £22bn for the Treasury

Evening Standard

Keir Starmer and 16 ministers urged not to 'U-turn' on opposing Heathrow third runway

Environmental groups have warned of the climate change impact of hundreds of thousands more flights which could also blight parts of London with noise

The Independent UK

Chancellor to reveal Government’s departmental spending plans in June

Rachel Reeves said she would present the budgets to the Commons once the review had concluded on June 11.

The Guardian - UK

Reeves bids to intervene in car finance case that could cut lenders’ £30bn bill

Shares in Lloyds and Close Brothers rise as Treasury seeks to tell court that lawsuit could cause economic harm

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