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The Latest Breaking News from Rachel Reeves

‘Budget emperor has no clothes’ says shadow minister as MPs continue debate

The final day of debate on Labour’s first Budget in 14 years is taking place in the Commons.

The Independent UK

Rachel Reeves gives top official vote of confidence in row over Budget black hole cover-up

Exclusive: The chancellor gave officials a vote of confidence ahead of she and her Treasury permanent secretary James Bowler facing questions from MPs today

The Independent UK

M&S profits rise but retailer warns of £60m hit from Reeves’s budget

Concerns over increase in national insurance contributions and minimum wage on customers and suppliers

The Guardian - UK

From analysis to the latest developments in health,
read the most diverse news in one place.

UK companies warn of growing consumer costs after Budget tax rises

Retailers, housebuilders and hospitality firms all say Labour’s increase in employers’ national insurance contributions will lead to price rises.

Evening Standard

Cost of living fears rise as pubs and supermarkets warn of Budget “double whammy”

Outspoken Wetherspoons boss Tim Martin is amongst those expressing concern

The Independent UK

Reeves hints UK will urge Trump not to raise tariffs as economists fear his policies will cut growth – as it happened

Chancellor says UK’s trading relationship with US is ‘absolutely crucial’ and promises not to be a ‘passive actor’

The Guardian - UK

UK politics live: Davey accuses Badenoch of ‘cheerleading’ for Trump after Starmer snubs her call for apology

Lib Dems leader Ed Davey has Kemi Badenoch ‘s support for Trump shows she doesn’t reflect British values

The Independent UK

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Wall Street hits record high after Trump election win, as US dollar, bitcoin and Tesla shares surge – as it happened

Rolling coverage of the latest economic and financial news, as investors pile into Trump trades after US election result

The Guardian - UK

Stamp duty: first-time buyers in four London boroughs to face the biggest increases

First-time buyers in Haringey, Hackney, Richmond and Wandsworth face stamp duty rises of £11,250 next year, while those in Barking will pay £876 more

Evening Standard

Reeves faces grilling by MPs over Budget measures

Changes announced in the Budget will come under scrutiny from the Treasury Select Committee on Wednesday.

The Independent UK

Rachel Reeves faces grilling by MPs over tax hikes and increased spending in Budget

Measures announced in Budget will come under scrutiny from the Treasury Select Committee on Wednesday

Evening Standard

Trump tariffs would halve UK growth and push up prices, says thinktank

NIESR warns British economy would be one of the worst affected by protectionist policies

The Guardian - UK

Atkins: ‘Crass’ move on farm inheritance tax makes UK more reliant on imports

Victoria Atkins said the move had ‘consigned family farms and businesses to being sold off and split up as families cannot afford massive tax bills’.

Evening Standard

Jeremy Hunt’s Treasury may have broken the law by hiding Budget black hole, says OBR

£9.5bn spending gap wasn’t disclosed, ‘which under the law ... they should have done’, says fiscal watchdog

The Independent UK

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The Conversation

Forty thousand more appointments per week and ‘surgical hubs’, but will this fix the NHS?

Chancellor Rachel Reeves’ debut budget pledged increases of £22.6 billion in day-to-day spending for the NHS and £3.1 billion in capital spending over the next two years. The increase in day-to-day spending is intended to fulfil Labour’s campaign promise of “40,000 more appointments per week” from their election manifesto.

The Independent UK

Streeting vows Budget will put NHS staff ‘on front line, not the picket line’

The Health Secretary also vowed Labour would rebuild hospitals.

Evening Standard

Spending on projects early could lead to higher costs in the end – OBR chief

Richard Hughes was speaking to a cross-party committee of MPs on Tuesday.

The Guardian - UK

Hard-pressed shoppers will benefit as retailers carry ‘weight’ of UK tax rises, says Primark owner

ABF boss George Weston says budget is positive for ‘the least affluent’ but will cost firm ‘tens of millions’ of pounds

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The Conversation

What the budget got wrong about the NHS and prevention

A healthy NHS and strong economy depend on healthy people, not just strong public finances. Chancellor Rachel Reeves’ budget was a missed opportunity for the government to get serious about public health by protecting citizens from the leading risk factor for death in the UK: unhealthy food.

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

Hidden behind this budget is a terrible bombshell: billions in cuts for disabled people

The DWP confirms that draconian ‘savings’ are coming down the track. Are we a nation that will repair hospitals, but not help a nurse with long Covid, asks Guardian columnist Frances Ryan

The Independent UK

The Who’s Roger Daltrey warns Rachel Reeves’ Budget poses ‘catastrophic’ threat to charities

Rachel Reeves unveiled tax hike for employers in Autumn budget

The National (Scotland)

Media Watch: GB News' £100k fine and Isabel Oakeshott's 'disgraceful' rant

Good evening and welcome to this week's Media Watch where a months-long drama involving GB News has finally come to a conclusion ... for now anyway.

The Guardian - UK

Investors brace for volatile trading week as US election draws near

Donald Trump has been ahead in betting markets, despite trailing in opinion polls

The Guardian - UK

NFU rejects Treasury claim that 72% of farms won’t pay inheritance tax

Union says Defra figures show far more farmers will be hit by budget proposal and warns of ‘militant protest’ to come

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