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The Latest Breaking News from Rachel Reeves

UK Budget process in ‘complete chaos’, says Scotland’s Finance Secretary

Reports suggest Chancellor Rachel Reeves has scrapped plans to hike income tax.

Evening Standard

Who could be behind the phantom briefing and the tax rise that wasn’t? Inspector Starmer is on the case

Chaos and ineptitude dog our poor PM. Perhaps the explanation lies (very) close to home, says Guardian columnist Marina Hyde

The Guardian - UK

Sarwar urges Reeves to scrap two-child cap in Budget

The Chancellor will unveil her Budget later this month.

Evening Standard

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Nightmare on Downing Street: 'Iron Chancellor' loses her mettle with Budget U-turn and Starmer in coup chaos

Commentary: Two startling own goals in a week have damaged Sir Keir Starmer and Rachel Reeves’ authority

Evening Standard

London council housing boss resigns over landlord licence blunder that Rachel Reeves also made

Southwark Council’s Cabinet Member for Housing, Michael Situ, admitted he did not obtain the correct permissions to let out his Peckham properties

Evening Standard

Income tax – live: Markets spooked after Reeves U-turn on major Budget tax increase

Chancellor reported to have abandoned plans over fears they could anger both voters and backbench Labour MPs

The Independent UK

Chancellor abandons planned income tax hike because of improved forecasts

The PA news agency understands the strength of tax receipts has improved the numbers from the OBR, allowing for the U-turn.

The Independent UK

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UK stocks dive as tech bubble worries and Budget speculation mount

The index was losing around 140 points, or about 1.4%, on Friday morning.

Evening Standard

Despairing economists warn Reeves’s income tax U-turn will make system ‘too complicated’ – and will wipe out buffer zone

The chancellor has ditched plans to increase income tax, leading to fears she will not be able to create the buffer zone needed to protect the UK from economic shocks next year

The Independent UK

Does the Budget make a good or a bad time to put my home on the market?

Big fiscal statements from the government can impact home prices as well as the wider market activity

The Independent UK

Government borrowing costs rise in wake of income tax U-turn speculation

Reports that the Chancellor has scrapped her plans to raise income tax at the Budget has sparked a sell-off in UK Government bonds.

Evening Standard

Rachel Reeves plans £7.5bn tax rise in budget after U-turn on income tax rates

Chancellor expected to freeze level at which people start paying income tax for two years rather than putting rates up

The Guardian - UK

Confidence in UK economy plummets among London fintech bosses

More than eight out of ten are pessimistic about prospects for UK

Evening Standard

Rachel Reeves’ tax U-turn reports spark UK government bond sell-off

Experts said bond markets have baulked at the speculation as it leaves the Chancellor scrambling to fill a gaping black hole in the nation’s finances.

Evening Standard

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The Guardian - UK

Treasury won’t cut threshold for higher rate income tax, say sources – UK politics live

Fallout continues over budget income tax U-turn, with Treasury saying expected fiscal gap has dropped to £20bn

Evening Standard

Reeves not ‘playing fast and loose with people’s money’ amid tax U-turn reports

Culture Secretary Lisa Nandy would not be drawn into speculation that Ms Reeves has abandoned plans for the manifesto-breaking tax hike.

The Guardian - UK

Pound falls and UK borrowing costs rise as Reeves ditches plans for income tax hike – as it happened

Jitters over the UK’s autumn budget grow as chancellor Rachel Reeves abandons plans to raise income tax on 26 November

Evening Standard

Reeves dumps plan to raise income tax in screeching Budget U-turn sending spooked markets into slide

Chancellor abandons plans to raise income tax over fears they could spark a huge backlash among voters and backbench Labour MPs

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International Business Times UK

Rachel Reeves Bikes Clampdown: Cycle to Work Scheme Explained and Why Workers Are Worried

Rachel Reeves plans a clampdown on the Cycle to Work scheme, with new limits that could cut tax benefits for commuters and raise concerns among workers.

The Guardian - UK

Rachel Reeves to abandon plans to raise income tax rates in budget

Labour had laid the ground to break a manifesto pledge on taxes for working people but has now made a U-turn

Evening Standard

Stealth tax alert: Reeves Budget to make record 10m pay Income Tax higher rate if she freezes thresholds

A further two-year freeze on Income Tax thresholds would drag 790,000 more people into paying the 40% higher rate, according to the IFS

Evening Standard

Reeves urged to cut windfall tax and not ‘sacrifice’ oil and gas workers

The Chancellor is due to deliver her budget later this month.

The Independent UK

Rachel Reeves to ditch plan to raise income tax in Budget

Chancellor set to abandon income tax hike plan amid fears move could anger voters

Evening Standard

PM’s chief of staff ‘not involved’ in briefing against ministers – reports

Sir Keir Starmer has faced calls to sack his top adviser, Morgan McSweeney.

Evening Standard

Stocks fall amid weak GDP print ahead of Budget

The FTSE 100 index closed down 103.74 points, 1.1%, at 9,807.68.

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