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The Latest Breaking News from Rachel Reeves

Using North Sea gas saved Britain billions last year, analysis shows amid calls for more drilling

Last week the government denied that Ed Miliband is expected to give the green light to the first major North Sea field project in almost 10 years

The Independent UK

Millions of graduates to have student loan interest capped at 6%

Ministers said the move would help protect borrowers from potential financial shocks.

Evening Standard

Keir Starmer Energy Bill Pledge Slammed as 'Complete Scam' Amid New Tax Hikes

Keir Starmer's much‑touted £150 energy bill cut has faced criticism after frozen tax thresholds and new analysis suggested many taxpayers will pay more overall from April. Critics argue the Prime Minister's pledge appears less like a saving and more like a tax shuffle affecting millions of ordinary workers.

International Business Times UK

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Student loan interest rates to be capped after backlash over repayment costs

Student loan interest rates will be capped from September

The Independent UK

Government caps student loan interest rates at 6%

The Government said the move would help deliver stability and protections for graduates amid the prospect of increased financial pressures due to the Middle East war

Evening Standard

UK City firms report fastest turnaround in fortunes in 30 years

CBI figures showing surprise jump in financial sector’s growth will be welcome news for Rachel Reeves

The Guardian - UK

Mansion tax could hit 165,000 homes in first year, Budget watchdog predicts

The Office for Budget Responsibility (OBR) estimated 165,000 properties will be affected in the policy’s first year, rising to 167,000 in 2030

The Independent UK

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Starmer’s cost of living tsar calls for fuel duty cut to be extended in light of Iran war

Chancellor Rachel Reeves previously announced the 5p-per-litre cut in fuel duty would only be extended until the end of August

The Independent UK

Kemi Badenoch says Trump ‘should not abandon mess he’s made’ in Middle East

Mrs Badenoch said her message to Mr Trump would be “if you break it, you own it”

The Independent UK

Cooper refuses to say if US is still an ally as she vows to do everything possible to reopen Strait of Hormuz

The chancellor Rachel Reeves has expressed her anger at Donald Trump over the Iran war

The Independent UK

UK firms expect to raise prices more quickly as Iran war pushes up costs

Bank of England survey in March shows chief financial officers foresee 3.7% increase over coming year

The Guardian - UK

Trump’s trade war put the UK on the back foot. His actual war may break us

The government looks ill prepared for the coming stagflation storm – its ‘keep calm and carry on’ approach won’t survive a blast of reality, says Guardian columnist Larry Elliott

The Guardian - UK

Reeves to work with supermarket bosses amid fears over food inflation

The Food and Drink Federation, which represents 12,000 food and drink manufacturers, hiked its inflation forecast in light of the conflict.

Evening Standard

A third inflationary shock in less than a decade is coming: who will pay the price this time around?

Brutal past experience has taught us that a cost of living crisis doesn’t affect us all the same, because we don’t all go into it with the same income or wealth, says Guardian columnist Aditya Chakrabortty

The Guardian - UK

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news in one place.

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The Guardian - UK

Starmer’s ‘five-point energy plan’ was not a plan

Two of the points were measures on energy bills from the autumn budget, another restated the existing energy strategy

The Independent UK

Starmer calls for UK to get closer to EU after Trump criticism and warns coming weeks ‘won’t be easy’

Prime minister hits back at US president over threat to leave Nato as he says how Britain emerges from Iran war crisis will ‘define us for a generation’

The Independent UK

Food prices to soar by almost 10% due to Iran war, as fuel and energy bills bite

Grocery shopping bills rose sharply in 2022 and 2023 and are heading for another rise later this year

The Guardian - UK

UK food inflation ‘could hit 9%’, trade body warns as Reeves meets retail chiefs

Discussion on how to ease impact from Iran war coincides with Food and Drink Federation almost tripling forecast

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news in one place.

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Evening Standard

Reeves: Government ‘can’t alleviate every price increase’ from Iran war

Chancellor Rachel Reeves said contingency planning was under way to deal with the economic fallout from the Middle East crisis.

The Guardian - UK

Reeves criticises Trump for starting Iran war with no ‘clear plan’ to get out of it – as it happened

‘I’m angry that Donald Trump has chosen to go to war in the Middle East,’ chancellor says

The Guardian - UK

Energy crisis: why ‘keep calm but cut down’ may be a better message for Labour

Government keen to avoid panic as oil price surges, but perhaps households need advice on reducing consumption

The Guardian - UK

Chancellor meets UK supermarket bosses to discuss cost of living

Rachel Reeves will address concerns about price rises and shortages with retailers as energy costs surge

Evening Standard

Starmer holds emergency meeting over cost of Iran war as energy bills set to 'rise by £288' in summer

Chancellor Rachel Reeves has already indicated that targeted help for poorer households could be available if bills continue to rise

International Business Times UK

MPs Pay Rise Triggers Anger as £3,300 Increase Confirmed for April — What IPSA Decided

UK MPs will receive a £3,300 pay rise from April 2026 after IPSA approved a 5% increase, sparking criticism amid ongoing cost-of-living pressures.

Evening Standard

Prime Minister to chair Cobra meeting on economic hit of Iran war

Sir Keir Starmer told business leaders on Monday that it must be a ‘joint effort’ to tackle the impact of the war.

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