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The Latest Breaking News from Rachel Reeves

CBI chief hits out at Reeves after firms face ‘heavy burden’ from tax rises

Confederation of British Industry chief executive Rain Newton-Smith said firms face tough decisions on hiring and investment due to the Budget.

Evening Standard

UK Government 'to give Scotland £300 million' for Budget tax hike compensation

THE UK Government has said it will give the Scottish Government an additional £300 million to cover the planned increase to employers’ National…

The National (Scotland)

The £5bn-a-year tax timebomb that’s set to devastate London hospitality

A survey of 400 business owners across all sectors found that almost 60 per cent have put hiring plans on hold as a result of the National Insurance rise

Evening Standard

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Rachel Reeves CBI speech live: Chancellor tells conference ‘difficult decisions’ brought stability to economy

CBI chief Rain Newton-Smith said that business had been caught ‘off-guard’ by national insurance hikes

The Independent UK

UK politics: Badenoch refuses to commit to reversing rise in employers’ national insurance in speech at CBI – as it happened

Tory leader says she will not ‘comment on every bit of micro-policy’

The Guardian - UK

B&Q owner says budget uncertainty hit spending and tax rise will cost it £31m

Kingfisher says it faced weak market in October, as Greggs also complains of cost of national insurance increase

The Guardian - UK

Wall Street hits record high after Scott Bessent nominated as US Treasury secretary – as it happened

Bonds rally and dollar dips as investors welcome choice of billionaire hedge fund manager Bessent as next Treasury secretary

The Guardian - UK

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Monday briefing: Where Cop29 failed – and the limited reasons for hope

In today’s newsletter: The view from Azerbaijan is of disappointingly low direct finance guarantees to the developing world, although it is ‘less bad than nothing’

The Guardian - UK

‘We had no alternative’: Reeves defends her budget to the CBI

Chancellor tells business leaders she stands by tax rises and points to Labour’s pro-growth policies

The Guardian - UK

Defiant Reeves to tell firms ‘we had no choice’ amid fierce Budget backlash

CBI boss will say measures announced by government have made it harder for firms to ‘take a chance’ on hiring new people

The Independent UK

CBI boss to warn Budget tax rises will ‘hit growth’ among UK firms

Rain Newton-Smith will say on Monday that businesses are being forced to ‘compromise on their plans for growth’ after the spending review.

The Independent UK

Labour could be knocked off course as it sticks to £40bn mission

The government’s pact with voters relies on it delivering on its promise of growth but the early omens are unsettling

The Guardian - UK

Pay gap between bosses and employees must be reduced, UK workers say

Poll reveals appetite for rethinking relationship between the boardroom and low or middle earners

The Guardian - UK

Voters must learn to accept that Britain’s challenges are too big to solve straight away

Labour has got off to a shaky start in government. It’s time it told the truth about the state we’re in

The Guardian - UK

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The Independent UK

Labour peer condemns her own party as ‘cruel’ over inheritance tax raid on farms

Baroness Mallalieu echoes Theresa May’s description of the Conservatives as ‘the nasty party’ as she hits out at Rachel Reeves’ Budget measure to extend inheritance tax

The Independent UK

Voices: Rachel Reeves is standing by her ‘tough decisions’ – but for how long?

COMMENT: The chancellor insists that she is not for turning, writes John Rentoul. But with the current cold snap and discontent among farmers, I predict she will, indeed, retreat

The Guardian - UK

‘Sitting with their head in their hands’: farm equipment suppliers fear for impact of budget

Traders at a big machinery show say inheritance tax changes affecting the rural economy have had an immediate impact on business

The Guardian - UK

Rachel Reeves standing firm against U-turn on inheritance tax for farmers

Chancellor understood to be determined to keep policy despite Treasury analysing ways to soften impact

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The Independent UK

Keir Starmer warned elderly people ‘are going to die’ as fears mount over winter fuel cuts

Keir Starmer was confronted during a round of local radio interviews by a listener named Maxine who said ‘we just can’t keep warm’ and that ‘elderly people are literally going to die’

Evening Standard

It makes sense to make winter fuel payment change, says Sir Keir Starmer

Chancellor Rachel Reeves limited access to the benefit, worth up to £300, in a cost-saving measure, as she sought to repair the nation’s finances.

The Guardian - UK

Look at the farmers’ protest, and then ask yourself: how will we ever make tax fairer amid such grumbling?

Labour inherited a dire situation that needed desperate change – but powerful lobbies make any tax reform near-impossible, says Guardian columnist Polly Toynbee

The Independent UK

Reeves denies claims she is about to exempt over-80s from family farm tax

Speculation is mounting that Keir Starmer and Rachel Reeves are looking at ways of appeasing farmers over the so-called tractor tax extension to death duties

The Guardian - UK

UK government borrowing in October tops forecasts at £17.4bn

Debt interest payments push public finances deeper into the red in fresh blow to Rachel Reeves

The Guardian - UK

Never mind what Rachel Reeves did long ago at the Bank of England: what claims do you make on your CV?

The chancellor is said to have ‘rounded up’ her years of service. But if she did plump up her working achievements a bit, who hasn’t, asks Guardian columnist Emma Brockes

The Guardian - UK

Public sector pay rises and debt interest costs push up UK government borrowing; Bitcoin nears $100,000 – as it happened

UK records the second highest October borrowing since 1993, while crypto-friendly Trump pushes up bitcoin

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