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The Latest Breaking News from Rachel Reeves

Travel shares drop after Heathrow closure; UK deficit overshoots forecasts at £10.7bn – as it happened

Airline and hotel shares tumble as substation fire shuts airport, while UK borrowing jumped more than expected

The Guardian - UK

Reeves under pressure as UK borrowing sharply exceeds forecasts

IFS says chancellor ‘boxed in’ by promises before spring statement as February figure is much worse than expected

The Guardian - UK

UK Government borrowing overshoots forecasts ahead of spring statement

Public sector net borrowing was £10.7 billion in February, the Office for National Statistics said.

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

‘Does it score?’ How the OBR became the key arbiter of the Treasury’s sums

Chancellor has very little headroom within her fiscal rules but is keen to keep Office for Budget Responsibility on side

The Guardian - UK

Government ‘absolutely up for the fight’ over net zero, Ed Miliband says

Exclusive: energy secretary says 2050 target is imperative, and accuses opposition of betraying of future generations

The Guardian - UK

Keir Starmer Lacks the Courage to Make the One Move That Could Save Britain

Something quite strange is happening in British politics right now—our Labour Prime Minister seems to be channelling his inner Tory.

The Fashion Central

Government not ‘blindly cutting spending’ or heading for austerity – minister

Chief Secretary to the Treasury Darren Jones also said cuts to spending at next week’s spring statement would not be an admission of economic failure.

Evening Standard

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Bank of England in no hurry on interest rates – but cuts will come

Despite the decision to hold at 4.5%, businesses and households can take a confident view of the UK’s prospects

The Guardian - UK

Kemi Badenoch Sounds Alarm on ‘Emergency Budget’ as Keir Starmer Defends Labour’s Tax Raid

Tory leader Kemi Badenoch has taken aim at Sir Keir Starmer over Rachel Reeves’ decision to hike employers’ National Insurance contributions from 13.8% to 15%.

The Fashion Central

Thousands of jobs at risk in shake-up of English councils, Unison warns

Union says it will be a ‘travesty if crucial public services are shut down’ in mergers of some county and district bodies

The Guardian - UK

Bank of England holds interest rates amid concerns over inflation and Trump tariffs

Interest rate remains set at 4.5 per cent but there are still expectations of cuts this year

The Independent UK

Bank of England says companies freezing hiring plans as it keeps interest rates on hold

Rate-setting committee also points to mounting global uncertainty as it pauses its cycle of reductions

The Guardian - UK

Austerity fears grow as Reeves plans major spending cuts in spring statement

A swathe of spending cuts are expected in order to balance the books amid the worsening economic outlook

The Independent UK

Chancellor Rachel Reeves prepares huge spending cuts to prevent tax hikes as spring statement looms

Whitehall budgets could be slashed by billions of pounds more than previously expected in a blow to public services

Evening Standard

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The Independent UK

Chancellor to announce huge spending cuts in spring statement

‘I don’t know how much longer we can go on pretending this is not austerity’

Al Jazeera

Why has the UK government announced swingeing welfare cuts?

Prime Minister Keir Starmer says cuts will save UK billions per year, but advocacy groups slam move as ‘immoral’.

The Guardian - UK

Rate of UK shop closures expected to rise after budget tax changes – report

More than 12,800 stores shut in 2024, down on 2023, but extra costs expected to take toll this year, study suggests

Evening Standard

What the papers say – March 20

Political headlines dominate the front pages.

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Evening Standard

Rachel Reeves not expected to make tax changes at spring statement

It is understood that changes to the tax regime are not expected next week.

The National (Scotland)

Rachel Reeves to announce biggest spending cuts 'since austerity'

Rachel Reeves is set to unveil the biggest spending cuts "since austerity" in next week's Spring Statement ...

The Guardian - UK

Reeves to reveal biggest UK spending cuts since austerity in spring statement

Labour MPs uneasy as chancellor prepares even deeper reductions that economists say will harm key services

Evening Standard

Chancellor tells National Wealth Fund to back ‘higher risk’ projects

Rachel Reeves said she hopes the wealth fund, which was set up last year, will unlock £70 billion in private investment in the UK.

The Independent UK

‘My farm makes me just £50 a week – Labour’s scrapping of £1bn subsidy scheme will be devastating’

As Labour closes the sustainable farming incentive (SFI) for new applications, the party faces a backlash from farmers who say the decision will further put the country’s food security at risk

Evening Standard

New freeze on income tax thresholds in 'emergency Budget' not ruled out by Keir Starmer

Tory leader Kemi Badenoch challenged the PM on tax ahead of next week’s Spring Statement

Evening Standard

Starmer fails to repeat commitment not to extend freeze on income tax

In the autumn budget, Rachel Reeves decided not to extend the freeze on the thresholds at which people start to pay different rates of income tax.

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