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The Latest Breaking News from Rachel Reeves

The UK’s wealth ‘timebomb’ – and how to defuse it

When the full, unexpurgated diaries of the Conservative MP Sir Henry “Chips” Channon were published in 2021, these disarmingly frank accounts of his aristocratic life in mid-20th century Britain caused a stir. They revealed the inner thoughts of a renowned social climber and rightwing snob, whose political career never recovered…

The Conversation

Planning on Leaving the UK for Good? Rachel Reeves Might Tax You More on Remaining Assets

Chancellor Rachel Reeves weighs 20% settling-up charge on UK assets for wealthy leavers in budget 2025, targeting tax havens and aligning with G7 amid 16,500 millionaire migrations.

International Business Times UK

Badenoch warns of ‘oil and gas emergency’ in call for new drilling

The Conservative leader travelled to the north-east of Scotland to launch her party’s new campaign to end the moratorium on new oil and gas licences.

Evening Standard

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M&S boss warns customer confidence dented by Budget worries

Chief executive Stuart Machin said the Chancellor’s pre-Budget speech on Tuesday did not ease customer fears or give certainty to business.

Evening Standard

Budget tax hikes should be coupled with major reform, Osborne says

Tory ex-chancellor George Osborne conceded large reforms to the tax system can be difficult politically as he pointed to his 2012 ‘pasty tax’ budget.

Evening Standard

Why does the government want me to invest instead of save – and how do I start?

Rachel Reeves might cut the cash ISA allowance in a bid to push more Brits towards stocks and shares

The Independent UK

George Osborne issues stark warning to Reeves over tax hikes

The former chancellor described the government as ‘constrained by its promise’ after Labour’s general election manifesto pledged to not increase VAT, national insurance or income tax

The Independent UK

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Watch live: Lammy faces PMQs grilling after Reeves hints at tax rises

Watch live as David Lammy, Britain’s deputy prime minister, faces Prime Minister’s Questions on Wednesday (5 November).

The Independent UK

Chancellor under rising pressure amid warning UK finance blackhole must be plugged ‘with 2p income tax hike’

Rachel Reeves has given strong indications she will break Labour’s manifesto promise not to raise taxes on “working people” at her Budget on November 26

Evening Standard

Brexit and austerity still causing ‘major problems’ for economy – Phillipson

Education Secretary Bridget Phillipson’s comments came after Chancellor Rachel Reeves prepared the ground for tax hikes in her November 26 Budget.

Evening Standard

Minister doubles down on Reeves’ doom warning: ‘We will do what’s right for the future of our economy’

While the education secretary insisted the government takes its manifesto pledges seriously, she said there are ‘major problems’ plaguing the economy

The Independent UK

Wetherspoons ‘cautious’ ahead of November Budget

The pub chain said like-for-like sales lifted 3.7% in the 14 weeks to November 2.

Evening Standard

Thinktanks urge Rachel Reeves to overhaul ‘broken’ tax system

Coalition says ‘arbitrary and nonsensical’ rules are penalising work and discouraging investment

The Guardian - UK

Government faces questions over tax rises after Reeves warns all must contribute

The Chancellor even faced calls from the Tories to resign if she goes ahead with raising taxes in the November 26 Budget.

Evening Standard

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The Independent UK

Firefighters issue urgent plea ahead of Bonfire Night

A union has highlighted a significant increase in fires across the UK in recent years

Evening Standard

Firefighters call for funding boost as they prepare for Bonfire Night

A union said the service had been pushed beyond limits.

Evening Standard

Income tax hike of at least 2p likely needed to plug Budget hole, warns Niesr

The economic think tank said the Chancellor needed to make ‘brave choices’ at the upcoming November 26 Budget.

Evening Standard

UK economy ‘bleeding out’ with brain drain in science and tech, peers warn

The Science and Technology Committee said Britain should be ‘rolling out the red carpet rather than red tape’ for highly skilled professionals.

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Evening Standard

Tories call for workers rights Bill to be thrown out as it returns to Commons

The Bill is aimed at bolstering the rights of workers, including by extending a host of protections to workers from the first day they start a job.

The Guardian - UK

Reeves considers cut to green levies in effort to reduce cost of energy bills

Exclusive: Chancellor hopes to save up to £170 from average bill but industry insiders say move would be ‘disastrous’

The Guardian - UK

The Guardian view on Rachel Reeves’s speech: gambling on a mirage of stability

Editorial: The chancellor’s bid to appear fiscally credible hides a deeper weakness: a growth model built on private debt and political theatre, not real economic renewal

The Independent UK

Our hapless chancellor has finally run out of wiggle room

THE INDEPENDENT VIEW: Editorial: Rachel Reeves has asked each of us to ‘do our bit’ as she prepares to break her party’s manifesto pledge and raise income tax – but it is now clear that she has made the bad situation she inherited worse

The Guardian - UK

Prospect of breaking 50-year income tax taboo shows scale of Reeves’s challenge

The chancellor appears to believe voters will forgive a broken promise in return for meaningful investment

The Conversation

University still pays off – even in lower-wage Britain

In the upcoming budget, Chancellor Rachel Reeves is expected to raise the minimum wage to £12.70 an hour: £26,416 annually for a full-time job. This means that the gap between salaries for minimum wage jobs and those for professional jobs that require a degree is shrinking fast.

The Guardian - UK

Tax rises shouldn’t be taxing for Reeves

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