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The Latest Breaking News from Rachel Reeves

Labour now less trusted on the economy than Liz Truss, damning new poll finds

Asked who they would trust with the economy, 10 per cent of people said Labour – fewer than those who said they would trust Liz Truss

The Independent UK

OBR complained to Treasury before budget about leaks spreading ‘misconceptions’

Official tells MPs there was lots of information appearing in the press that ‘wasn’t particularly helpful’

The Guardian - UK

OBR confronted Treasury about ‘unhelpful’ policy leaks before Reeves’ Budget

The economy watchdog forced to deny being ‘at war’ with Treasury after row over state of Britain’s public finances

The Independent UK

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UK growth facing headwinds from tax hikes and spending cuts – OECD

The OECD said growth will slow to 1.2% next year, before edging up to 1.3% in 2027, with ‘substantial’ downside risks from fiscal tightening.

Evening Standard

Budget crisis engulfs Rachel Reeves as OBR watchdog slams Treasury briefings

The leading economists also predict that interest rates will fall from 4% to 3.5% by the second quarter of 2026

Evening Standard

OECD warns Reeves higher taxes and spending restraint will limit consumer expenditure

UK economy will grow faster than France, Germany and Italy but slower than US next year, report predicts

The Guardian - UK

Fresh blow for Reeves as Labour’s anti-migration policies blamed for sluggish UK growth

Less than a week after her controversial Budget, Rachel Reeves has been warned that tax hikes and spending cuts will pile pressure on the UK economy in next two years

The Independent UK

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Chancellor ruling out another independence vote does not carry weight – Flynn

The SNP MP claimed Rachel Reeves and Prime Minister Sir Keir Starmer will both be ousted if the SNP wins next year.

Evening Standard

UK house prices rise despite budget tax fears, says Nationwide

‘Mansion tax’ announced by Rachel Reeves will have limited impact on property market, building society says

The Guardian - UK

BoE governor says it has not forgotten lessons of financial crisis, as it eases capital rules

Bank of England’s move risks stoking concerns about weakening protections against UK bank failures

The Guardian - UK

It’s under fire from left and right – but Labour’s workers’ rights bill is a huge achievement

It makes no sense for union leaders to cry betrayal when it will be their members who benefit from these sorely needed reforms, says Guardian columnist Polly Toynbee

The Guardian - UK

The most misleading thing about Rachel Reeves’s budget? Who it was really for

Labour backbenchers have been cheering it as a win for the most vulnerable in society. In fact it was aimed at the bond markets, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

This PM has changed the Labour Party once – he must now do so again

THE INDEPENDENT VIEW: Editorial: Steering the party from the nadir of Corbynism to a landslide majority is Keir Starmer’s greatest achievement – but he now faces his stiffest test in tackling its drift back towards old Labour refuseniks who are hampering pro-growth change

The Independent UK

Starmer insists there was ‘no misleading’ after claims Reeves lied in run-up to Budget

Keir Starmer forced to publicly defend chancellor over accusations she lied about country’s finances – as Labour MPs voice discontent

The Independent UK

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The Guardian - UK

The Guardian view on OBR v the Treasury: ministers have embraced the theatre of errors

Editorial: The government is trapped between Labour’s instincts and bond traders’ demands. Sensible fixes exist, but require imagination ministers have yet shown

The Guardian - UK

How the standoff between Rachel Reeves and the OBR unfolded

Treasury’s independent economic forecaster says outlook for economy rosier than chancellor led everyone to believe

Evening Standard

FTSE 100 down as US manufacturing growth slows

Analysts warned that the UK manufacturing sector’s recovery remains uncertain

Evening Standard

OBR chief Richard Hughes resigns amid growing chaos over Budget as PM defends Chancellor

Treasury minister James Murray told the Commons that the Government backs a ‘deeper forensic investigation’ into previous Office for Budget Responsibility (OBR) disclosures

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Evening Standard

Jeremy Clarkson says his children 'considered not coming back to UK’ after dream holiday

The Top Gear star has three children - Emily, 30, Finlo, 27, and Katya, 24

The Guardian - UK

Does Labour have a death wish or does it secretly enjoy the agony of self-sabotage?

Keir Starmer may be keen to move on from the budget megashambles, but chaos is hardwired into his party

The Guardian - UK

OBR chair quits after inquiry into early release of budget document

Richard Hughes takes ‘full responsibility’ for watchdog error as Starmer attempts to secure chancellor’s position

Evening Standard

Reeves warns against isolationist politics in Welsh summit speech

Rachel Reeves used her speech at the Wales Investment Summit to warn against the politics of ‘national retreat’.

The Independent UK

OBR chief resigns after report blames leadership for Budget blunder

A damning report into last week’s Budget leak said the error was the worst failure in the OBR’s 15-year history

The Guardian - UK

OBR says inadvertent budget leak is ‘worst failure’ in its 15-year history

Investigation finds organisation’s leadership over many years was to blame for error, and similar breach happened earlier this year

The Conversation

Why Rachel Reeves chose a ‘smorgasbord’ of tax tweaks – and the risks involved in that approach

Chancellor Rachel Reeves has delivered her second budget, in which she raised taxes by £26 billion. This will take the UK tax burden to an all-time high of 38% of GDP by 2030-31. But it will also more than double Reeves’ “fiscal headroom” to £22 billion.

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