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The Latest Breaking News from Rachel Reeves

Reeves’s plan to ditch income tax rise prompts government bond sell-off

Switch in budget plan causes cost of UK government borrowing to rise by the most in a single day since early July

The Guardian - UK

Reeves’s tax U-turn: how Labour changed course on budget plans

Chancellor spent weeks preparing the ground for breaking manifesto pledge but events this week appeared to change her mind

The Guardian - UK

Financial markets grow fretful after reports of UK government abandoning income tax hike

British financial assets were under pressure Friday on growing speculation that the Labour government has ditched plans to raise income taxes in a crucial budget at the end of the month

The Independent UK

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Stocks hit and bond yields jump amid tax U-turn talk

The FTSE 100 Index closed down 109.31 points at 9,698.37.

Evening Standard

‘The speculation is ridiculous’: Readers vent frustration over Budget uncertainty

YOUR VIEWS: Our community is split over Rachel Reeves’ upcoming Budget, with many frustrated by speculation and uncertainty, while others defend her cautious approach

The Independent UK

Is there a strong economic case for dropping the two-child benefits cap? This is what the evidence tells us

As she carefully prepares the UK’s reaction to her second budget the chancellor, Rachel Reeves, has now hinted that she may be ready to scrap the two-child benefits cap.

The Conversation

Londoners who own expensive homes face being hammered in Budget after Reeves U-turn to dump income tax rise

A new ‘mansion tax’ or higher council tax bands for costly properties are measures the Chancellor could announce

Evening Standard

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What are Rachel Reeves’s options after U-turn on income tax rates?

From freeze on income tax thresholds to reforming capital gains tax, we look at how much the alternatives could raise

The Guardian - UK

UK Budget process in ‘complete chaos’, says Scotland’s Finance Secretary

Reports suggest Chancellor Rachel Reeves has scrapped plans to hike income tax.

Evening Standard

Who could be behind the phantom briefing and the tax rise that wasn’t? Inspector Starmer is on the case

Chaos and ineptitude dog our poor PM. Perhaps the explanation lies (very) close to home, says Guardian columnist Marina Hyde

The Guardian - UK

Sarwar urges Reeves to scrap two-child cap in Budget

The Chancellor will unveil her Budget later this month.

Evening Standard

Nightmare on Downing Street: 'Iron Chancellor' loses her mettle with Budget U-turn and Starmer in coup chaos

Commentary: Two startling own goals in a week have damaged Sir Keir Starmer and Rachel Reeves’ authority

Evening Standard

London council housing boss resigns over landlord licence blunder that Rachel Reeves also made

Southwark Council’s Cabinet Member for Housing, Michael Situ, admitted he did not obtain the correct permissions to let out his Peckham properties

Evening Standard

Income tax – live: Markets spooked after Reeves U-turn on major Budget tax increase

Chancellor reported to have abandoned plans over fears they could anger both voters and backbench Labour MPs

The Independent UK

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The Independent UK

Chancellor abandons planned income tax hike because of improved forecasts

The PA news agency understands the strength of tax receipts has improved the numbers from the OBR, allowing for the U-turn.

Evening Standard

UK stocks dive as tech bubble worries and Budget speculation mount

The index was losing around 140 points, or about 1.4%, on Friday morning.

The Independent UK

Despairing economists warn Reeves’s income tax U-turn will make system ‘too complicated’ – and will wipe out buffer zone

The chancellor has ditched plans to increase income tax, leading to fears she will not be able to create the buffer zone needed to protect the UK from economic shocks next year

The Independent UK

Does the Budget make a good or a bad time to put my home on the market?

Big fiscal statements from the government can impact home prices as well as the wider market activity

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Evening Standard

Government borrowing costs rise in wake of income tax U-turn speculation

Reports that the Chancellor has scrapped her plans to raise income tax at the Budget has sparked a sell-off in UK Government bonds.

The Guardian - UK

Rachel Reeves plans £7.5bn tax rise in budget after U-turn on income tax rates

Chancellor expected to freeze level at which people start paying income tax for two years rather than putting rates up

Evening Standard

Confidence in UK economy plummets among London fintech bosses

More than eight out of ten are pessimistic about prospects for UK

Evening Standard

Rachel Reeves’ tax U-turn reports spark UK government bond sell-off

Experts said bond markets have baulked at the speculation as it leaves the Chancellor scrambling to fill a gaping black hole in the nation’s finances.

The Guardian - UK

Treasury won’t cut threshold for higher rate income tax, say sources – UK politics live

Fallout continues over budget income tax U-turn, with Treasury saying expected fiscal gap has dropped to £20bn

Evening Standard

Reeves not ‘playing fast and loose with people’s money’ amid tax U-turn reports

Culture Secretary Lisa Nandy would not be drawn into speculation that Ms Reeves has abandoned plans for the manifesto-breaking tax hike.

The Guardian - UK

Pound falls and UK borrowing costs rise as Reeves ditches plans for income tax hike – as it happened

Jitters over the UK’s autumn budget grow as chancellor Rachel Reeves abandons plans to raise income tax on 26 November

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