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The Latest Breaking News from Rachel Reeves

Friday briefing: The Commonwealth summit that could put reparations ‘on the table’

In today’s newsletter: Caribbean nations forced conversations about restorative justice on to the Chogm agenda – here’s what that could mean

The Guardian - UK

Downing Street climbs down on Keir Starmer's claim shares owners are not ‘working people’ ahead of Budget

The Prime Minister had suggested asset owners would not fall within his conception of what a working person is

Evening Standard

No 10 climbs down on PM’s claim stocks and shares owners not ‘working people’

The Government has been asked repeatedly to define what a ‘working person’ is to establish which taxes could rise.

The Independent UK

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What the papers say – October 25

A wide range of stories feature across Friday’s papers.

The Independent UK

Key mineral importers to get more cash help at the Budget

Rachel Reeves is expected to use her Budget on October 30 to announce companies bringing critical minerals will get access to UK Export Finance.

Evening Standard

State-backed loans to go to firms importing critical minerals into UK

Rachel Reeves to encourage import of raw materials from Commonwealth countries to counter China’s grip on market

The Guardian - UK

Consumer confidence falls again amid ‘despondent mood’ ahead of October Budget

Chancellor Rachel Reeves has repeatedly warned of ‘tough choices’ at upcoming spending review, hitting consumer sentiment.

Evening Standard

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Keir Starmer hints at tax rises on people with income from assets

Shareholders and property owners who also work not within PM’s definition of ‘working people’

The Guardian - UK

King Charles acknowledges ‘pains of the past’ as he weighs in on reparations row amid pressure on Starmer

Chancellor Rachel Reeves says Britain could not afford to pay reparations for its part in the slave trade

The Independent UK

UK Govt Changes Budget Rules To Borrow More For Investment

UK finance minister Rachel Reeves announced Thursday changes to fiscal rules to open up billions for investment in the centre-left government's maiden budget, but warned of tax rises and spending cuts.

International Business Times

London stocks climb after strong gains for Unilever and Barclays

The FTSE 100 finished 10.74 points, or 0.13%, higher to end the day at 8,269.38.

The Independent UK

Rachel Reeves confirms change to debt rule and warns of higher taxes ahead of Budget

Taxes and borrowing are both set to increase as Rachel Reeves signalled she would rewrite the way government debt is measured in her first Budget ...

The National (Scotland)

Budget 2024: Homeowners 'to be hit with high mortgage bills for longer' as Rachel Reeves borrows billions

The Chancellor is also set to announce a string of tax rises in the Budget on October 30

Evening Standard

Reeves confirms change to debt rule and warns of higher taxes as Budget looms

Chancellor Rachel Reeves insisted her first Budget would pave the way for improved public services and ‘rebuild our economy’.

The Independent UK

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The Guardian - UK

Budget will reverse huge cuts in UK’s public investment, Reeves confirms

Chancellor pledges to spend, but says there will be no Truss-style splurge when she changes fiscal rules in budget

Evening Standard

Sadiq Khan slashes his minimum ask for transport funding ahead of Labour's Budget

The mayor insisted he will still be demanding ‘as much as I can get’ for TfL, but said the ‘black hole’ in the public finances had to be acknowledged

The Independent UK

Government borrowing costs rise ahead of Reeves’ first Budget

Speculation that Rachel Reeves will change the way debt is assessed triggered a market reaction.

Evening Standard

Key questions over ‘persnuffle’ kerfuffle as Reeves confirms debt rule change

Rachel Reeves could change the measure used for her debt target, potentially giving her billions more to spend at the Budget.

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Evening Standard

Budget 2024: Chancellor Rachel Reeves to go on '£20 billion' investment spree in UK through higher borrowing

A string of tax rises are also expected to be announced in the Budget many of which will hit London hard

The Guardian - UK

UK’s borrowing costs rise on news that Reeves is changing fiscal rules

Yield, or interest rate, on British government bonds climbs on Thursday amid a fall for other countries

The Independent UK

Chancellor Rachel Reeves hints at ‘challenging’ Budget in new video

Chancellor Rachel Reeves has hinted at a “challenging” Budget as she prepares to borrow tens of billions of pounds to invest in Britain’s crumbling infrastructure.

Evening Standard

British businesses grow at slowest rate in 11 months amid Budget uncertainty

Chancellor Rachel Reeves has struck a pessimistic tone around the Budget, warning of ‘tough decisions’.

The Guardian - UK

Jeremy Hunt claims Labour changing debt definition will ‘punish families with mortgages’ – as it happened

Former chancellor says ‘increasing borrowing means interest rates would be higher for longer’ as Reeves says it will ‘make space for investment’

Evening Standard

Report suggests Reeves could announce plans to change Britain’s debt rules

The Chancellor will be looking to raise up to £40 billion from tax hikes and spending cuts in order to avoid a return to austerity.

The Guardian - UK

Global economy faces ‘anxious times’, warns IMF; Reeves says stability fiscal rule will mean higher taxes – as it happened

People don’t feel good about economic prospects, admits IMF chief Kristalina Georgieva

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