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The Latest Breaking News from Stephen Millard

UK faces ‘very difficult trade-offs’ in budget because of Iran war, say analysts

Leading thinktank says higher oil prices and inflation will give Andy Burnham a ‘challenging inheritance’

The Guardian - UK

Burnham warned ‘no scope’ for extra borrowing to fund cost-of-living support

The National Institute of Economic and Social Research said the new Government will be squeezed by more persistent inflation.

Evening Standard

Influx of cheap Chinese imports could drive down UK inflation, economists say

As Trump’s tariffs take effect, Britain is likely alternative destination for cars, telecoms and sound equipment

The Guardian - UK

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Starmer faces cabinet revolt over Budget tax rises that could drive wealthy away

‘The trouble is we have crossed a line in trying to encourage aspiration. The non-dom change and the VAT on school fees have sent the opposite message,’ minister tells The Independent

The Independent UK

Rachel Reeves faces ‘impossible trilemma’ and must raise taxes or cut spending to plug £50bn black hole

Leading economists say the chancellor may have to raise taxes, cut public spending or tear up her fiscal rules

The Independent UK

Labour Under Pressure as Income Tax Freeze Extension Appears Increasingly Likely

The Chancellor, Rachel Reeves, is under growing pressure to break Labour’s manifesto pledge not to raise the so-called “big three” taxes—income tax, National

The Fashion Central

Trump tariffs would halve UK growth and push up prices, says thinktank

NIESR warns British economy would be one of the worst affected by protectionist policies

The Guardian - UK

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Experts warn new EU deal needed with ‘Brexit uncertainty’ still damaging confidence in UK economy

Brexit renegotiation and a massive increase in public investment are needed if Keir Starmer and Rachel Reeves want to turn around the UK’s flagging economic fortunes, a major thinktank has said

The Independent UK

Hunt urged to invest £30bn a year in infrastructure or risk ‘decade in doldrums’

Thinktank says stronger than expected tax revenues have given chancellor scope for bold package in autumn statement

The Guardian - UK

Rishi Sunak ‘may fall short on pledge to halve inflation in 2023’, top think tank warns

The National Institute of Economic and Social Research reckons inflation will to fall to 5.4% by the end of the year

Evening Standard

Is Bank of England about to break precedent on interest rates?

Markets expect 0.5 percentage-point rise for first time since independence as inflation rises

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