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The Latest Breaking News from Rachel Reeves

Two-child benefit cap a ‘failed social experiment’ that had to go, PM says

Ditching the cap will cost about £3 billion by the end of this Parliament, according to the Office for Budget Responsibility.

Evening Standard

Is this the ‘change’ that Britain voted for?

THE INDEPENDENT VIEW: Editorial: Now that the dust has settled on the Budget, it becomes clearer that this government’s priorities are out of line with the national interest, insulting to many and corrosive to the public’s threadbare trust in politicians’ ability to deliver on promises

The Independent UK

‘Mortified’ OBR chief prepared to resign if Reeves loses confidence in him over Budget leak

Richard Hughes has written to the Chancellor and Commons Treasury Committee chair Dame Meg Hillier to apologise for the incident

The Independent UK

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The chancellor’s growth mission is missing in action

Businesses grumble about lack of ambition and urgency as Rachel Reeves continues to shy away from meaningful tax reform

The Guardian - UK

The two-child limit failed – all it did was increase poverty

UK chancellor Rachel Reeves has taken decisive action in getting rid of the two-child limit – a policy that has held a totemic place in the UK for more than a decade. Since 2017, this policy has limited the means-tested support that families can receive from the state to the…

The Conversation

Ministers face calls to explain how £6bn Send funding hole will be paid for

Bridget Phillipson tells MPs that Send costs in England will not fall on core schools funding but on government budget

The Guardian - UK

Was Rachel Reeves’s budget really that bad?

Letters: Linda Marriott and Oane Jansen give Labour the benefit of the doubt. Plus a letter from John Thorn

The Guardian - UK

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Chances missed in a short-termist budget

Letters: Despite Wednesday’s budget, massive public spending will still be needed to revive the UK economy, writes Colin Hines. Plus a letter from Bernie Evans

The Guardian - UK

Balancing the books at the expense of the poor

Brief letters: Threshold freeze | Two-child limit | Badenoch’s vitriol | Cost-cutting at Christmas | Office for Budget Irresponsibility?

The Guardian - UK

Did Labour break their tax manifesto pledge? Martin Lewis gives his opinion

Martin Lewis has revealed whether he thinks Rachel Reeves broke Labour's manifesto pledge on tax.

The Independent UK

Starmer forced to deny breaking Labour manifesto as experts sound dire warning over Budget plans

Damning assessment came as chancellor and prime minister forced to defend plans and insist they did not breach manifesto promises

The Independent UK

How will the budget affect you? What midlife women need to know

From everyday costs, to the impact on your savings and pensions - our money writer explains

Woman & Home

How the financial markets reacted to the UK budget (and why they matter)

Rachel Reeves’s second budget landed in an unusual fashion. Before she delivered it, most of the key details had already been revealed accidentally by the Office for Budget Responsibility.

The Conversation

The biggest climate stories often aren’t labelled ‘climate’ – so newsrooms miss them

Rachel Reeves did not deliver a climate focused budget on November 26 2025. The Chancellor’s statement was framed around growth, productivity and the cost of living. Climate change and net zero were not primary headings. The word “climate” barely featured in her speech.

The Conversation

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Evening Standard

Four claims from the 2025 Budget debate fact checked

Full Fact takes a look at claims about tax thresholds, NHS appointments, unemployment and house building.

The Guardian - UK

Rachel Reeves’s budget creates tax break for rich former non-doms

Cap on inheritance tax paid by their offshore trusts will only help those worth more than £83m, say experts

Evening Standard

Graduates to pay more on their student loans as Chancellor Rachel Reeves freezes repayment threshold

By freezing the threshold, more graduates will be pushed into repayment as wage growth increases their salaries

The Independent UK

Martin Lewis says Budget cash ISA cut was the ‘wrong move’

Saving expert suggested 'guidance' for young savers instead of limit

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Evening Standard

A shackled economy, no long-term vision for growth — and no help for London

Once again the capital did not get a single mention in the Chancellor’s speech

The Guardian - UK

Budget tax rises may be ‘fiscal fiction’ as pain delayed for election year, IFS warns

Labour MPs welcome scrapping of two-child benefit cap but worry about hefty future tax increases on constituents

The Independent UK

Chancellor summons telecoms bosses to demand action on mid-contract price hikes

The move follows increasing anger from customers and consumer groups over rising mobile and broadband tariffs.

The Conversation

Will the budget save Rachel Reeves and Keir Starmer? Experts give their views

Rachel Reeves’s budget was seen as a “make or break” moment for the chancellor and the government, which is suffering from low approval ratings and rapidly fading public confidence. At the same time, threats of a leadership challenge and the impending May elections mean Keir Starmer has a tricky path…

The Guardian - UK

Welcome to the half-real, half-fantasy world that is ‘the day after the budget’

This is the day when politicians and amateur commentators talk more doggybollox than on any other day of the year

Evening Standard

Mansion tax to wipe £10,000s off value of London homes hit by new levy in Reeves Budget

One in four homes which will pay the property surcharge are in just three London boroughs; Kensington and Chelsea, Westminster and Camden

The Guardian - UK

Analysts back British gambling firm stocks despite tax rises for sector

Paddy Power owner Flutter and other betting and gaming firms say higher online gambling taxes will hit profits hard

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