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The Latest Breaking News from Budget

GDP shock: London businesses slam Budget turmoil as UK economy shrinks 0.1% in October

The latest GDP figures are a blow to Rachel Reeves, who admitted leaks in the run-up to her November 26 Budget were ‘very damaging’

Evening Standard

Reeves admits Budget leaks were ‘extremely damaging’ but insists she wasn’t to blame

Chancellor hits out at ‘too many leaks’ and says inquiry is underway to root out the person responsible

The Independent UK

William Hill owner considers sale after Budget gambling tax hikes

Debt-laden Evoke said the potential sale comes a number of gambling taxes were increased in last month’s Budget.

Evening Standard

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Reeves: PM and I decided ‘as a team’ not to hike income tax

The Chancellor also said a leak revealing she had dropped plans for an income tax rise was ‘incredibly damaging’.

Evening Standard

UK shoppers cut back on pre-Christmas spending at fastest rate in almost five years

British consumers have been left concerned by uncertainty around the Budget, high inflation and the cost of living

The Independent UK

JLR recovery set to have lifted economy in October despite pre-Budget nerves

Official figures will show estimates for UK gross domestic product (GDP) on December 12.

Evening Standard

Reeves will not face ministerial standards probe over Budget briefings

Nigel Farage had called for an investigation into whether the Chancellor mispresented the state of the public finances ahead of her fiscal statement.

Evening Standard

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Stark warning to pension savers over Rachel Reeves’s salary sacrifice changes

HMRC suggest 3.3 million people will be impacted by the salary sacrifice changes

The Independent UK

3.3m pension savers facing hit with salary sacrifice changes

HMRC said an estimated 7.7 million employees currently use salary sacrifice to make pension contributions.

Evening Standard

Sarwar’s fingerprints ‘all over the Budget’, says Starmer

The Prime Minister touted his Scottish leader’s influence as he addressed members on Thursday.

Evening Standard

Michelle O’Neill to tackle Starmer for ‘prioritising weapons of war over people’

The Stormont leader said the Budget had been a missed opportunity to support those struggling to pay for food and heat their homes.

The Independent UK

Builders downed tools amid fears over Reeves Budget in fresh blow to new homes for London

Housing, civil engineering and commercial activity ‘tanked’ last month, say economists

Evening Standard

UK construction sector shrinks at fastest rate since 2020

The latest figures were significantly worse than economists had expected, as firms partly blamed caution ahead of the autumn Budget.

The Independent UK

Budget could cost hospitality another 100,000 jobs warns industry boss

Workers aged 16 to 24 make up 10% of the country's total workforce but account for about half the workers in some hospitality roles

Evening Standard

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Evening Standard

Treasury minister: inquiry into pre-Budget leaks under way

James Murray, a Treasury minister, told MPs that a leak inquiry is ‘under way with the full support of the Chancellor’.

Evening Standard

Badenoch: Reeves could be prosecuted for market abuse over claims before Budget

The Chancellor has faced accusations she misled voters by overstating the scale of the fiscal challenge, but has denied doing so.

Evening Standard

Big Yellow warns annual business rates bill to jump by £1.8m post Budget

The business said it will be affected by an upcoming tax shake-up which will see properties worth more than £500,000 taxed at higher rates.

Evening Standard

Castles outside London to escape 'mansion tax' as one-bed flats in capital hit by new levy in Budget

Nearly one in four of the properties caught by the ‘mansion tax’ are in just three London boroughs, Kensington and Chelsea, Westminster and Camden

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Evening Standard

Keir Starmer to face PMQs amid continued Budget questions

The OECD has warned tax hikes and reduced spending will act as a ‘headwind’ to the UK economy over the next two years.

The Independent UK

Labour now less trusted on the economy than Liz Truss, damning new poll finds

Asked who they would trust with the economy, 10 per cent of people said Labour – fewer than those who said they would trust Liz Truss

The Independent UK

OBR confronted Treasury about ‘unhelpful’ policy leaks before Reeves’ Budget

The economy watchdog forced to deny being ‘at war’ with Treasury after row over state of Britain’s public finances

The Independent UK

Fresh blow for Reeves as Labour’s anti-migration policies blamed for sluggish UK growth

Less than a week after her controversial Budget, Rachel Reeves has been warned that tax hikes and spending cuts will pile pressure on the UK economy in next two years

Radio France Internationale

French unions call for day of strike action as draft budget enters crucial stage

French unions have called for a national day of strike action and widespread protests on Tuesday to pile pressure on the government and MPs ahead of a big day of discussions on the government's 2026 budget proposal.

The Independent UK

Starmer insists there was ‘no misleading’ after claims Reeves lied in run-up to Budget

Keir Starmer forced to publicly defend chancellor over accusations she lied about country’s finances – as Labour MPs voice discontent

The Independent UK

OBR chief resigns after report blames leadership for Budget blunder

A damning report into last week’s Budget leak said the error was the worst failure in the OBR’s 15-year history

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