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The Latest Breaking News from Rachel Reeves

Interest rates: Why have they been cut and what does it mean?

Here the PA news agency looks at what the decision means and what the Bank expects to happen to the economy.

Evening Standard

Bank lowers UK interest rates but warns ‘uncertainty’ about future cuts

Governor Andrew Bailey described it as a ‘finely balanced decision’ after MPC members were forced to hold a second vote.

Evening Standard

Reeves’ Nics hike stunting growth and pushing up food prices, Bank says

Higher labour costs in the food industry and supermarkets have pushed up costs for shoppers, the Bank of England said.

Evening Standard

From analysis to the latest developments in health,
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Voices: Rachel Reeves won’t thank Gordon Brown for his tax advice

COMMENT: By advocating an increase in online gambling levies – not to help close the yawning fiscal gap, but to pay for the scrapping of the two-child benefit cap – the former prime minister has suggested that the moral case for higher spending outweighs the need for fiscal responsibility, says…

The Independent UK

UK interest rates slashed to lowest level in two years

UK interest rates have been cut to their lowest level since March 2023, despite the Bank of England predicting a sharp rise in inflation amid…

The National (Scotland)

FACT CHECK: Gordon Brown’s 'worse every day' warning on Scottish child poverty

“Gordon Brown warns child poverty in Scotland is getting 'worse every day' as he calls for UK Government action” ...

The National (Scotland)

Reeves leaves door open to gambling tax rise in autumn budget

The Chancellor said she was ‘deeply concerned’ about child poverty and the Government is taking evidence in a review of gambling taxes.

Evening Standard

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Interest rates cut to 4% as UK inflation picks up

The cut came after the Bank’s rate-setting committee was forced to take a second vote for the first time in its history.

The Independent UK

UK hasn’t seen poverty like this for 60 years, says Gordon Brown in call to scrap two-child benefit cap

The former prime minister backed reforms to gambling taxes in order to generate the £3.2bn needed to scrap the cap

The Independent UK

Rachel Reeves should exempt defence pledge from budget rules, says Gordon Brown

The former chancellor said the commitment to spend 5% of GDP by 2035 should be treated as ‘exceptional’.

Evening Standard

Home Office reveals how people will be chosen to come to UK from France under ‘one in, one out’ scheme – as it happened

People will be chosen via three-stage process, with government expected to accept around 50 migrants a week when scheme starts

The Guardian - UK

Bank of England poised to cut interest rates

Quarter-point reduction expected, with City investors predicting a three-way split among rate setters

The Guardian - UK

The Guardian view on the London Stock Exchange: its struggles are symptoms of a broken growth model

Editorial: The chancellor and the CBI have plans for reviving the institution. Neither will tackle Britain’s pitifully low levels of business investment

The Guardian - UK

The gambling industry is a licence to print money. Tax it properly – and turbocharge the fight against child poverty

New thinking is urgent now. I have not seen such deep poverty since I grew up in a mining and textiles town blighted by unemployment, says former prime minister Gordon Brown

The Guardian - UK

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The Guardian - UK

Keir Starmer plays down warnings that taxes will have to be raised in autumn

PM says he doesn’t recognise some figures in independent forecast that projects £51bn shortfall in public finances

The Independent UK

Voices: What would it take for you to work for Mark Zuckerberg?

COMMENT : As a computer scientist’s ‘no thanks’ to a billion-dollar pay package goes viral, James Moore says that when you’re already sought-after in a cutting-edge tech sector, there’s more to life than an eye-watering salary

The Independent UK

Starmer opens door to income tax rise in autumn Budget as pressure to fill £50bn hole mounts

Labour prime minister pledged that plans to be set out in the autumn would make ‘sure people feel better off’

The Independent UK

Voices: ‘The whole tax system needs radical reform’: Readers weigh in on Reeves’ fiscal trilemma

YOUR VIEWS: Our community is split on how Rachel Reeves should resolve her fiscal trilemma, with readers divided between raising taxes, cutting spending, relaxing borrowing rules or boosting growth through closer EU ties

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news in one place.

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The Independent UK

Voices: Rachel Reeves must learn a hard lesson from Labour history – wealth taxes simply don’t work

COMMENT: Taxing unearned income is no way for the chancellor to plug her £41bn spending black hole – the better-off are best placed to find a way around paying it, says Chris Blackhurst

Evening Standard

Starmer defends handling of economy but declines to rule out tax hikes

The Prime Minister said Chancellor Rachel Reeves’ upcoming budget will ‘build on what we’ve done’ by focusing on ‘living standards’.

The National (Scotland)

Rachel Reeves 'to hit taxpayers' as £51bn black hole found in public finances

CHANCELLOR Rachel Reeves is set to impose yet more misery on taxpayers, according to a new report which found that there is a £51 billion black…

Evening Standard

Chancellor warned ‘tax rises needed to fill £51bn black hole in public finances’

Niesr said Rachel Reeves is facing an ‘impossible trilemma’ and will likely need to resort to tax rises in the autumn budget.

International Business Times UK

Savings Tax Could Affect 300k Brits: Will You Be Deducted And How Much Will You Pay?

By 2025-26, 300,000 more Brits face savings tax due to frozen thresholds. ISAs offer relief, but reforms loom. Learn who's affected and how to protect your savings.

The Independent UK

Business news live: Novo Nordisk hit by slowing Ozempic sales, Tesla shareholders sue Musk over Robotaxi

Stock market news and latest business and finance updates from Wednesday

The Independent UK

Something has to give, chancellor – and that something is income tax

THE INDEPENDENT VIEW: Editorial: Rachel Reeves must use her autumn Budget to set aside manifesto commitments and put the public finances on a more sustainable footing. The most reliable and economically sound way is the most straightforward – and the most politically difficult

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