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The Latest Breaking News from Rachel Reeves

Resign over Budget briefing chaos, Reeves urged as she orders leak inquiry at the Treasury

Chancellor Rachel Reeves has been urged to resign over the chaos in the run up to her financial statement

Evening Standard

No 10 publishes list of 34 new political peerages including 25 Labour, five Liberal Democrats and three Conservatives – as it happened

Downing Street publishes list including ex-Olympic swimmer Sharron Davies and Iceland supermarket chief Richard Walker

The Guardian - UK

Rachel Reeves’s test from the bond markets starts now

UK gilt yields may have dropped a bit relative to other major countries, but it’s not at all clear that the fall with continue

The Guardian - UK

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Bank of England expects budget will cut inflation by up to half a percentage point

In a boost for Rachel Reeves, deputy governor says analysis shows chancellor’s policies will lower annual rate next year

The Guardian - UK

Covid-19 fraud cost taxpayers £10.9bn but ‘much beyond recovery’, report finds

The final report by the Covid counter fraud commissioner, Tom Hayhoe, found that many schemes were rolled out quickly with significant risks.

Evening Standard

Struggling to find a job? Three reasons why the UK labour market is stuck right now

Britain’s jobs market appears to have entered a “low-hire, low-fire” freeze, creating stagnation that could affect everyone from school-leavers to professionals. But unlike recessions characterised by mass layoffs, this scenario represents a market in which workers cling to their jobs while newcomers find the door shut.

The Conversation

Reeves’ £150 cut in energy bills will be nuked by Sizewell costs, ex-Labour donor claims

Dale Vince’s claims over the impact of paying for Sizewell C on energy bills is one of a number of hidden costs which could see consumers pay higher bills - instead of £150 less

The Independent UK

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Zipcar’s demise means people such as me are back in the slow lane – and stuck needing their own costly car

The impending collapse of UK carsharing is an embarrassment for a government attempting to curb the dominance of cars, says writer Phineas Harper

The Guardian - UK

Ministers urged to close £2bn tax loophole in car finance scandal

Banks and specialist lenders will not pay tax on compensation payouts, sidestepping 2015 rule

The Guardian - UK

On Zack Polanski’s Magic Money Tree, economic gravity simply doesn’t exist

The Green Party leader thinks Modern Monetary Theory is a cure for Britain’s woes — others see it as snake oil at best, writes Jonathan Prynn

Evening Standard

The Guardian view on reducing child poverty: with the two-child limit gone, Labour must go further

Editorial: The new strategy has gaps. But ministers have shown that they are serious and capable of listening

The Guardian - UK

Reeves will not face ministerial standards probe over Budget briefings

Nigel Farage had called for an investigation into whether the Chancellor mispresented the state of the public finances ahead of her fiscal statement.

Evening Standard

Sarwar’s fingerprints ‘all over the Budget’, says Starmer

The Prime Minister touted his Scottish leader’s influence as he addressed members on Thursday.

Evening Standard

Give credit where it’s due: Labour is finally doing things its supporters actually want

From tackling child poverty to being honest about Brexit, the party seems to have recognised the growing electoral threat to its left, says Guardian columnist Gaby Hinsliff

The Guardian - UK

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The Guardian - UK

Friday briefing: After constant leaks and a resignation, is the OBR still fit for purpose?

In today’s newsletter: Critics say the OBR’s growing influence has outpaced its accountability, raising questions about whether it serves the public, the Treasury, or the markets

The Independent UK

David Lammy says rejoining EU customs union could boost UK economy

Deputy PM joins growing chorus of support in Labour to undo Brexit

The Guardian - UK

Families to be offered help to leave temporary accommodation under UK child poverty strategy

Government says series of measures, including childcare support, will lift 500,000 out of poverty

The Guardian - UK

Here’s why we can’t get rid of ‘mansplaining’

Letter: Dr Amanda Nimon Peters responds to an article by Zoe Williams in which she said we should stop using the term

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Evening Standard

Builders downed tools amid fears over Reeves Budget in fresh blow to new homes for London

Housing, civil engineering and commercial activity ‘tanked’ last month, say economists

The Guardian - UK

UK’s small brewers call for chancellor to think again on business rates

Trade group tells Rachel Reeves her property tax changes threaten the survival of community pubs

The Independent UK

Budget worries saw savers sell-down equities at record rate

Data from global funds network Calastone shows £6.7 billion was pulled in the two months leading up to the Chancellor’s fiscal statement.

The Independent UK

British Airways to raise price of Avios flights from this month

While British Airways has not confirmed a specific figure, example fares provided put the increase at around nine per cent

The Guardian - UK

Rachel Reeves will not be investigated over pre-budget briefing, FCA says

Regulator leaves door open for follow-up as it rejects calls for formal inquiry into claims against Treasury officials

The Guardian - UK

Treasury launches inquiry into budget leaks with ‘full support’ of Rachel Reeves

It comes after major policies such as freeze on income tax thresholds were reported in chaotic build-up to budget

Evening Standard

The one thing super-successful entrepreneurs do after a big-money sale is....

Roy Shaby sold his first business to Uber’s founder Travis Kalanick - here he tells how he’s scaling his second start-up differently, while there’s a chance to tell the Government your views on tax support for entrepreneurs

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