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The Latest Breaking News from Rachel Reeves

Pound hits lowest since April as investors anticipate budget tax rises; markets hit by AI valuation jitters – as it happened

Sterling drops against dollar as chancellor’s speech is taken as a sign that taxes will rise in the budget, and interest rates may fall faster

The Guardian - UK

Hegseth praises South Korea's plans to raise its military spending and boost defense capabilities

U.S. Defense Secretary Pete Hegseth has praised South Korea’s plans to raise its military spending, saying the Asian ally will take a larger role in defending itself from North Korean threats

The Independent UK

Rachel Reeves speech LIVE: Chancellor accused of 'waffle bomb' as she rolls ground for Budget tax rises

Rachel Reeves has said the Budget will focus on ‘getting inflation falling’ and ‘creating the conditions for interest rate cuts’

Evening Standard

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Rachel Reeves speech latest: Chancellor has ‘no regrets’ if Labour breaks promise not to raise taxes in Budget

In recent weeks No 10 has repeatedly refused to re-commit to Labour’s manifesto pledges

The Independent UK

Tuesday briefing: Why Labour won’t press the ‘big red button’ to lift 450,000 children out of poverty

In today’s newsletter: The Labour Party recently sounded resolute in its intention to cut the two-child benefit cap. But against an ugly fiscal backdrop, the chancellor may be having second thoughts

The Guardian - UK

Threat of income tax rise grows as Rachel Reeves gives clear sign she will break Labour manifesto pledge

Chancellor rolls ground for tax rises in unusual pre-Budget speech at Downing Street

Evening Standard

Reeves to lay groundwork for tax rises in ‘candid’ speech about budget

Chancellor to promise ‘fairness and opportunity’ but will not repeat manifesto pledge on tax, after PM’s hint at breach

The Guardian - UK

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Reeves to promise ‘fairness’ in Budget as income tax hike speculation mounts

No 10 repeatedly refused to say whether Labour’s manifesto pledge not to raise income tax still stands.

The Independent UK

Rachel Reeves to pave way for tax rises in pre-Budget speech

Chancellor’s address to come after weeks of expectation management as she scrambles to fill £50bn black hole

The Independent UK

Sir Keir Starmer warns of ‘tough but fair’ decisions in Budget

The Prime Minister said ‘hard and serious’ choices were needed to fix Britain’s financial woes.

Evening Standard

Time for Reeves to recognise reality: AstraZeneca has killed stamp duty on shares

Shareholder-backed plans to upgrade US listing have exposed multiple flaws in tax that should be abolished or at least cut

The Guardian - UK

Estate agent who failed to apply for licence so Rachel Reeves could rent Dulwich family home was not to blame for fiasco, says former boss

The error might mean that the Chancellor is forced to pay back £38,000 in rent to her tenants

Evening Standard

Minister indicates support for ending ‘luxury car’ leases by benefits claimants

Transport Secretary Heidi Alexander suggested she would be ‘comfortable’ with ‘high-end’ vehicles not being available through the Motability scheme.

Evening Standard

Minister supports banning luxury cars for benefits claimants

Chancellor Rachel Reeves is reportedly considering alterations to the Motability scheme

The Independent UK

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The Independent UK

Nigel Farage suggests young people on minimum wage earn too much

Reform UK leader also predicted a general election within the next two years, as a consequence of Rachel Reeves’s ‘austerity Budget’

Evening Standard

What's 'front of mind' for Chancellor Rachel Reeves as she plans Budget tax rises and will they hit you?

Cabinet colleague Heidi Alexander gave an insight into Ms Reeves’ thinking

International Business Times UK

'Unfair to Taxpayer': Reeves Targets Luxury Car Deals for Welfare Recipients in Major Reform

Rachel Reeves' Motability reforms spark debate over fairness, compassion, and taxpayer responsibility ahead of her forthcoming Budget.

The Guardian - UK

UK economy ‘doomed’ under Labour, says Ryanair chief

Michael O’Leary says Rachel Reeves needs tax cuts to create growth, as airline’s profits jump 42% in first half

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Evening Standard

Top City Economist: My ten point guide to what the Budget will deliver

Chancellor Rachel Reeves could lost her job if Labour lose more ground in the polls

The Guardian - UK

Rachel Reeves’s housing scandal was a small administrative error, but a big political mistake

At a time of austerity, and with Labour’s housing policies needing years to take effect, the public doesn’t want to hear about ministers with multiple homes, says Oliver Eagleton, managing editor of Phenomenal World

Evening Standard

High Court battle against Gatwick Airport new second runway launched by local campaigners

The Government is facing a judicial review challenge after backing expansion of the Sussex airport

Evening Standard

Scrap tourist tax, university foreign students levy and cut stamp duty on shares to boost London, Reeves urged

The Chancellor could also create new jobs and more homes by supporting new transport schemes for the city, say London bosses

The Guardian - UK

Tax rises and drop in investment predicted to limit UK growth

EY Item Club downgrades forecast for next year, with Office for Budget Responsibility expected to follow suit

Evening Standard

Stormont Finance Minister presses Chancellor to focus on help for working families

John O’Dowd said more had to be done to help with the cost of childcare.

The Guardian - UK

Rachel Reeves’s 5% VAT cut on electricity bills will backfire, experts say

Critics believe cut would mostly benefit better-off people with larger homes and increase carbon emissions

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