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The Latest Breaking News from Rachel Reeves

Global stocks tumble and pound weakens as investors digest UK Budget

London’s FTSE 100 was down 49.53 points, or 0.61%, to close at 8,110.1.

Evening Standard

Reeves needs faster UK growth than the OBR predicts for her budget to work

Unless the chancellor’s capital spending increases stimulate private investment, expect more tax rises ahead

The Guardian - UK

Private school group to launch legal action over Government’s VAT plan on fees

Members of the Independent Schools Council board voted to take action after the policy was confirmed in the Budget.

Evening Standard

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Housing industry Budget reaction: London renters and first-time buyers facing woe

Industry reaction suggests that renters and First Time Buyers are going to be hit hardest by measures in the Autumn Statement

Evening Standard

The chart that reveals the Budget’s real winners – and who will be hit hardest

Nine out of 10 taxpayers will benefit as a percentage of income from the Budget, according to a Treasury analysis

The Independent UK

UK Treasury Chief Raises Taxes, Warns Of Lower Wages

UK Treasury raises taxes by 40 billion pounds, affecting wage growth and public services. Potential future tax increases and spending concerns highlighted.

Top News

UK’s borrowing costs rise as Reeves’s budget prompts fears of slower interest rate cuts

Markets conclude higher level of public spending could lead to higher inflation, making cuts in Bank of England rate less likely

The Guardian - UK

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Is Scotland being short-changed on funding technicality in the Budget?

BUDGETS always throw up a host of questions that can’t be easily answered in time for paper deadlines or the Six O’Clock News – not least of…

The National (Scotland)

Government borrowing costs rise further after Budget

UK government bond yields jumped to a one-year high on Thursday after Labour announced a sharp increase in spending in the Budget.

Evening Standard

Housing, social care and universities: who lost out in the UK budget?

Rachel Reeves made funding the NHS a priority but people working in other areas said they were disappointed

The Guardian - UK

Budget: Private jet passengers hit with extra tax bill as rate increases by 50 per cent

Private jet passengers have been hit the hardest out of all UK flyers in this week’s autumn Budget

The Independent UK

Reeves admits tax hikes will hit working people as IFS accuses chancellor of ‘undermining trust’

Rachel Reeves was forced to accept that her decision to raise employers’ national insurance contributions will lead to workers being paid less, but asked, ‘what alternative was there?’

The Independent UK

UK Treasury chief admits business tax rise could lead to lower than anticipated wages

U.K. Treasury chief Rachel Reeves has conceded that wages may rise by less than previously thought as a direct result of her budget decision to increase a tax that businesses pay for their employees

The Independent UK

Voices: Is it now acceptable to accessorise with a Remembrance poppy?

COMMENT: As MPs become the latest people in the public eye with not one but several poppies clustered on their lapels, is this once-powerful symbol in honour of the war dead in danger of becoming something with which to make a fashion statement – or actually a way to keep…

The Independent UK

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Evening Standard

NHS workload will ‘go up, not down’, Starmer warns after new health funding

The Prime Minister insisted he will help the health service deal with growing pressures.

The National (Scotland)

Labour Budget raises '£500 million question for Scotland', First Minister says

RACHEL Reeves’s Budget has left a “£500 million question” for Scotland, the First Minister has said ...

MusicRadar

“Over 350 grassroots music venues are now placed at immediate risk of closure”: UK Live music representatives criticise Reeves Budget cut in business rate relief

Live music bodies criticise Budget cut in business rate relief

Evening Standard

Some Budget measures are welcome but others will ‘prolong agony’, warns Swinney

The First Minister said it is regretful the Chancellor had not scrapped the two-child limit on some benefits.

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Evening Standard

'Kick in the teeth' for London rail commuters: Season tickets to rise by up to £300 for delays-hit trains

Commuter costs are on the rise - but fuel duty was frozen yet again

Evening Standard

Spending plans mean £9 billion of cuts after next year, economists warn

Economists have suggested Labour’s longer-term spending plans are ‘extremely challenging’ and do not rule out a return to austerity.

Evening Standard

OPINION - The Standard View: Labour's National Insurance raid will hit "working people"

It was not all that long ago the Labour Party was campaigning for government, promising to prioritise economic growth, and reassuring voters that vast tax rises were not necessary. Yesterday’s Budget put paid to that.

The Independent UK

Watch: Starmer and Reeves speak after Labour’s £40bn tax-raising Budget

Watch as Sir Keir Starmer and Rachel Reeves deliver remarks during a visit to the West Midlands after the Budget announcement on Wednesday.

The Guardian - UK

Rachel Reeves may need extra £9bn to avoid cuts to public services, says IFS

Institute for Fiscal Studies says chancellor may have to revisit tax plans to avoid real-terms cuts in some areas

The Independent UK

Jeremy Hunt to step down as shadow chancellor with end of Tory leadership race in sight

The shadow chancellor, who narrowly retained his seat in the election, says he’s unlikely to return to the frontbenches for ‘the next few years, at least’

The Guardian - UK

Ed Davey: care sector will be ‘pushed to brink’ by national insurance hike and should be exempt

Lib Dem leader says rise in employers’ contributions risks worsening NHS crisis

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