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The Latest Breaking News from Rachel Reeves

Fact check: UK borrowing has fallen below 5% of GDP multiple times since 2019

The Chancellor made the claim after her statement on the economic response to the war in Iran.

Evening Standard

Rachel Reeves tells ministers to ‘buy British’ in four key industries

Exclusive: Chancellor pushes for procurement of ships, steel, energy and AI to prioritise Britishness as well as cost

The Guardian - UK

Here is Andy Burnham’s route to save Labour: a new manifesto, a new election and electoral reform

Proportional representation can rescue Britain’s warped politics. It could stop Nigel Farage arriving at No 10 with less than 30% of the vote, says Guardian columnist Polly Toynbee

The Guardian - UK

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Households set to learn of energy bills hike from July amid Iran war impact

Ofgem will on Wednesday reveal the level of the annual energy price cap for July to September as predictions suggests a 13% rise is on the way.

Evening Standard

UK households set to face £200 energy bill rise thanks to Iran war

Ofgem will on Wednesday reveal the level of the annual energy price cap for July to September

The Independent UK

The King of the North needs a lesson from the City before ever entering No 10

Andy Burnham’s vision for nationalisation exposes the gap between ambition and affordability with the bond markets quietly deciding what’s really achievable, writes Chris Blackhurst

Evening Standard

Treasury rejected ministers’ plan to cut VAT on public EV charging to 5%

Department for Transport is understood to back reducing levy, which critics have called a ‘pavement tax’

The Guardian - UK

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Voices: ‘Tinkering around the edges’: Readers say Rachel Reeves’ cost of living package doesn’t go far enough

YOUR VIEWS : Our community has criticised the chancellor’s new cost of living plans, arguing they’re too small to tackle Britain’s rising bills and household hardship

The Independent UK

Reeves’s tax cut on children’s meals a political ‘soundbite’, say restaurateurs

Chancellor’s measure to help families save money during summer holidays ‘won’t make any difference’

The Guardian - UK

Reeves begins push to remain as chancellor under new Labour leadership

Chancellor’s allies urge MPs to back her if Keir Starmer is replaced, saying she is only candidate to safeguard UK’s finances

The Guardian - UK

The Guardian view on Britain’s coming energy shock: mini-measures won’t suffice

Editorial: Consumer giveaways may soften the blow from the the war on Iran. But Britain’s vulnerability demands deeper state intervention and a faster transition

The Guardian - UK

Labour urged to ‘go further’ on cost of living crisis – here’s what the experts want

People are ‘already struggling now’, one charity chief warned

The Independent UK

Digested week: memories of Covid resurface with hantavirus and Ebola news

Plus, John Travolta’s beret, Rachel Reeves reclaims basic civility and Judy Garland comes to east London

The Guardian - UK

UK borrows more than forecast in April as inflation adds to benefits bill

The £24.3bn figure comes amid rising cost of pensions as bond market jitters take monthly debt interest to £10.3bn

The Guardian - UK

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The Independent UK

UK borrowing surges by more than expected in latest blow to Chancellor

The ONS said borrowing was £4.9 billion higher than a year earlier

Evening Standard

Borrowing surges by more than expected in blow to Chancellor amid Iran war woes

The ONS said borrowing was £4.9 billion higher than a year earlier at £24.3 billion last month.

The Economic Times

High hopes dashed: UK cost-of-living woes snare PM Starmer

Britons are unhappy with Prime Minister Keir Starmer's government. Cost of living worries are high. Economic problems persist since 2008. Recent global conflicts have worsened inflation. Food and fuel prices have increased significantly. Government measures aim to ease the burden. Slow productivity growth is a long-term challenge. Voters may lack…

The Guardian - UK

UK bond yields set for biggest weekly drop since 2024; retail sales fall as drivers cut back on fuel - as it happened

Rolling coverage of the latest economic and financial news

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The Times of India

VAT cut announced for UK summer attractions as Reeves unveils cost-of-living package

In a move to bring relief to families this summer, Chancellor Rachel Reeves has rolled out an unexpected VAT reduction on seasonal attractions, drastically lowering it from 20% to a mere 5%. This initiative, dubbed 'Great British Summer Savings,' is designed to encourage families to indulge in more recreational activities.

The Independent UK

Bulletin PM briefing: Reeves slashes prices for families and Andrew trade papers revealed

Five things Rachel Reeves has announced as VAT is cut for families. Documents reveal details of Andrew’s trade envoy appointment – including late Queen’s involvement. NHS sacks 11 staff who accessed Nottingham attack victims’ medical records. UK net migration falls sharply but half of Brits think otherwise. Police make five…

The Independent UK

Starmer to help campaign for Andy Burnham at Makerfield by-election amid leadership challenge bid

The Prime Minister said he wanted the ‘whole Labour movement’ to be involved in the vital by-election

The Independent UK

There is only one way Labour can win the North Sea oil and gas debate

ANALYSIS: Proponents of keeping North Sea oil and gas in the ground are repeatedly focusing on energy security and economic arguments. But it is only by making the climate argument that they will actually win the debate, explains Nick Ferris

The Guardian - UK

Manchester messiah Burnham anointed to fix Westminster politics

King of the north searches for the hero inside himself to an Oasis backing track to change politics for the better

The Independent UK

Why health experts have hit out at Rachel Reeves’ food price cuts

IN FULL

Evening Standard

Reeves targets oil and gas profits with plans to close tax loophole

The Chancellor hopes reforms to taxation of overseas activities will bring in ‘hundreds of millions of pounds’.

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