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The Latest Breaking News from the UK Treasury

UK doubles penalties for sanctions breaches to squeeze Russia

Britain has doubled penalties for sanctions breaches, increasing the maximum fine to 100 percent. The UK Treasury stated this action aims to pressure Russia's war economy and its supporters. A nationwide alert targets the Kremlin-backed A7 network for routing funds and evading restrictions. This move supports the private sector in…

The Economic Times

How UK 30-year bonds reached the highest yield this century and why it matters

Investors are demanding significantly higher returns to hold British debt as 30-year gilt yields reached levels not seen since 1998 this week. The surge represents a major challenge for the UK Treasury but why did it happen and what does it mean exactly?

Euronews

SNP hit out at £50m 'Labour Government cash grab' from Scottish Budget

THE SNP have demanded that the UK Treasury returns £49.1 million of funding effectively removed from the Scottish Budget ...

The National (Scotland)

From analysis to the latest developments in health,
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Treasury eyes cuts to GB Energy funding amid defence spending boost, reports say

THE UK Treasury is drawing up plans to cut the funding for GB Energy in June’s spending review, according to reports.

The National (Scotland)

SNP condemn Labour as £8.3 billion GB Energy funding promise in doubt

THE SNP have hit out at Labour amid doubts over the party’s pledge to invest £8.3 billion into GB Energy in the next 5 years ...

The National (Scotland)

Labour pledge to invest £8.3 billion into GB Energy in doubt amid UK Treasury silence

THE £8.3 billion Labour promised to invest in GB Energy by the middle of 2029 is in doubt ...

The National (Scotland)

SNP MP to call on UK Government to support whisky industry at Westminster debate

A SPEYSIDE MP has secured a Westminster debate on the Government’s support for the Scotch Whisky industry, as they argue the current tax regime is…

The National (Scotland)

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Plans for Scotland to Europe ferry stall as UK Government give funding update

PLANS for the return of a ferry link between Scotland and mainland Europe have stalled ...

The National (Scotland)

Treasury AI's 70 per cent accuracy rate 'better than humans doing it', tests find

The UK Treasury has begun using AI to reply to emails – and found that its 70 per cent success rate is “as good or better” than when their…

The National (Scotland)

The Guardian view on Scottish politics today: the SNP is down but it is definitely not out

Editorial: Labour commands the field, but its general election success is unlikely to be repeated in the 2026 Holyrood contest

The Guardian - UK

Plaid Cymru leader calls for 'outdated' Barnett Formula to be scrapped

THE leader of Plaid Cymru has said he would like to work with the SNP to make funding for devolved nations fairer across the UK.

The National (Scotland)

How the Scottish Budget works – and why there's a £1.5 billion shortfall

THE Scottish Budget has a shortfall. In May, Shona Robison, Deputy First Minister and also Finance Secretary, announced that the Scottish Government…

The National (Scotland)

FACT CHECK: Ian Murray claims Scots will move to London due to tax rises

“Ian Murray says more Scots will head to London if Humza Yousaf raises taxes” ...

The National (Scotland)

Welsh government will cut budgets to maintain health and rail services

Labour-led government needs to find £600m to balance books, blaming inflation, austerity, pay and ‘mismanagement’ by UK government

The Guardian - UK

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Wales Online

UK Treasury takes back £150m from the Welsh Government because it hadn't spent it quickly enough

Welsh ministers had wanted to use the money to cover infrastructure spending and are furious at Westminster's actions

Asharq Al-Awsat

US, UK Try to Stem Fallout from Silicon Valley Bank Collapse

Governments in the UK and US took extraordinary steps to stop a potential banking crisis after the historic failure of Silicon Valley Bank, even as another major bank was shut down. The UK Treasury and the Bank of England announced early Monday that they had facilitated the sale of Silicon…

The Independent UK

HSBC will buy UK subsidiary of collapsed Silicon Valley Bank

The UK Treasury and the Bank of England have “facilitated the sale″ of Silicon Valley Bank UK to HSBC, ensuring the security of 6.7 billion pounds ($8.1 billion) of deposits

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