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The Latest Breaking News from Rachel Reeves

What the papers say – November 8

Here are the stories making headlines to round out the working week.

Evening Standard

Tax unhealthy foods to tackle obesity, say campaigners

Health and children’s groups urge UK ministers to impose levies on products containing too much salt or sugar

The Guardian - UK

Bank of England cuts interest rates to 4.75% – but mortgages still set to rise

But experts forecast Rachel Reeves’s first Budget will drive up inflation over next two years

The Independent UK

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Rachel Reeves NI hike may push up prices, cut jobs and squeeze pay rises, says Bank of England governor

Chancellor Rachel Reeves’ increase in National Insurance on employers may push up prices, cut jobs and squeeze pay rises, says the governor of the Bank of England.

Evening Standard

Bank says ‘gradual approach’ to interest rate cuts needed after Budget

Andrew Bailey said it would ‘help us to observe’ how the tax measures would play out for the economy.

Evening Standard

Fact check: Badenoch Budget claim, Spanish floods and altered King Charles video

Round up of fact checks from the last week compiled by Full Fact.

The Independent UK

Ignore the doom-mongers: the good news on interest rates shows Labour is on the right track

Narratives matter in economics, and we must acknowledge the circumstances the government faces and give credit where due, says economist Mohamed A El-Erian

The Guardian - UK

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Bank of England’s rate caution overshadowed by Trump victory

Monetary policy committee is warier about pace of policy easing following Rachel Reeves’ budget

The Guardian - UK

Chancellor visits Manchester to promote investment in northern infrastructure

Rachel Reeves announced the Transpennine Route Upgrade was secured in her first Budget as Chancellor last week.

Evening Standard

Why has the Bank of England cut the interest rate and what does it mean for mortgages and inflation?

A lowering of the base rate to 5% suggests mortgage costs have peaked and inflation is coming under control

Evening Standard

Sainsbury’s boosted by return to the office but warns of price rises

Profits are up 4.7% but extra £140m on national insurance bill could mean more expensive groceries

The Guardian - UK

Bank of England cuts interest rates by 0.25 points to 4.75%

Borrowing costs reduced for second time this year with Fed expected to cut US rates later on Thursday

The Guardian - UK

No winners if Trump sparks global trade war, Starmer warned

Exclusive: Tariff war with US would create ‘very challenging market for UK’, Britain’s top international trade expert says

The Independent UK

Minister: Trump led ‘fiery’ campaign, let’s ‘wait to see what he does’ on trade

Pat McFadden also said comments made in the past about the president-elect by Cabinet ministers will not affect their relationship with him now.

The Independent UK

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The Guardian - UK

House prices at record high, says UK’s biggest lender

Reeves’s budget could slow demand but prices have not fallen significantly since post-pandemic ‘race for space’

The Independent UK

UK politics live: Reeves dismisses Lammy’s Trump ‘Neo-Nazi’ jibe as Farage’s mediation offer snubbed by Labour

The US election result has brought past comments made by foreign secretary David Lammy about Donald Trump back into the limelight

The Independent UK

Interest rates live updates: Bank of England base rate cut to help slash mortgage bills

Inflation fell below the Bank of England’s 2% target in September for the first time in three years

The Independent UK

Sir Keir Starmer ‘fondly recalls’ Donald Trump meeting with ‘hearty congratulations’ in first call

The pair spoke on phone after US election to follow up on Trump Tower encounter

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news in one place.

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Evening Standard

Chancellor Rachel Reeves’ Budget clears first House of Commons hurdle

MPs approved a series of Budget resolutions on Wednesday, which included an increase to employers’ national insurance contributions and a vapes tax.

The Guardian - UK

Cost increases for shops and pubs are real and large. Pity the small operators

M&S will pay an extra £60m in employer national insurance next year, but it can cope. Smaller firms may not

The Guardian - UK

Rachel Reeves promises not to increase taxes again in spring budget

Chancellor tells Treasury select committee ‘we’ve now set the envelope for spending for this parliament’

The Independent UK

Rachel Reeves rejects alternative for ‘cruel’ family farm tax

Rachel Reeves was challenged over the family farm tax during a grilling by MPs on the Commons Treasury select committee

Evening Standard

Treasury denies breaking law over 'black hole' in public finances

The way information is provided to the Office for Budget Responsibility is being changed following issues in March

The Independent UK

Treasury denies breaking law over ‘black hole’ in public finances

The way information is provided to the Office for Budget Responsibility is being changed following issues in March.

Evening Standard

Fact check: Defence spending was mentioned in autumn Budget

Rachel Reeves made clear references to increasing money for the Ministry of Defence while announcing the Government’s financial measures.

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