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The Latest Breaking News from Rachel Reeves

UK is heading for longest recession in a century, Bank of England warns

The Bank of England issued a gloomy warning about the future of the British economy as it hiked interest rates to 3%, the biggest single rate rise in three decades

Daily Mirror

UK in ‘prolonged recession’ as Bank of England hikes interest rates to 3%, knocking pound – as it happened

Bank of England has made its biggest interest rate rise in three decades, but signals rates won’t rise as high as markets had expected

The Guardian - UK

Mortgages set to rise £6,700 a year after mini-budget crashed the economy

Many economists are saying that the Monetary Policy Committee is likely to raise interest rates again

Nottingham Post

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‘A better partner’: Labour woos big business in bid to oust Rishi Sunak

Wes Streeting and Jonathan Reynolds test water with pharma firm GSK as party prepares for election

The Guardian - UK

‘No complacency, just confidence’ – how the Labour Party is getting battle ready

Keir Starmer is relying heavily on the Tony Blair playbook to make his party electable again, from caution over public spending to courting the Murdoch press

Evening Standard

Labour going all out to woo business with ‘prawn cocktail offensive 2.0’

Senior figures holding meetings with leaders of UK’s biggest firms as they strive to be party of government

The Guardian - UK

Boris Johnson jets back to UK boasting he's 'up for' PM - but could be out by Christmas

Boris Johnson is flying back from the Caribbean to launch his bid for power - after Penny Mordaunt became the first candidate to throw her hat into the ring and Rishi Sunak reached 100 backers

Daily Mirror

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UK inflation rises to 10.1% on back of soaring food prices

Annual rate returns to double digits in September as households face cost of living pressures

The Guardian - UK

Inflation – live: Cost of living crisis deepens as price rises hit 40-year high

Charities mount pressure on government to keep triple lock to protect pensioners

The Independent UK

Rachel Reeves voices support for Tom Watson peerage despite role in Beech case

The shadow chancellor said she has ‘a lot of time’ for Tom Watson despite his role promoting false claims regarding a VIP Westminster paedophile ring.

The Independent UK

Austerity cuts could be as deep as 2010, experts warn as energy bills set to hit £5,000

Chancellor Jeremy Hunt leading push for ‘austerity season two’, says Labour

The Independent UK

Liz Truss cannot survive if she keeps making mistakes, admits minister

PM cannot afford ‘very many’ errors after mini-Budget, says James Heappey

The Independent UK

Labour’s Reeves warns the ‘damage has been done’ despite ‘humiliating U-turns’

Shadow chancellor Rachel Reeves said Prime Minister Liz Truss has ‘no authority, no credibility, no plan for growth’.

The Independent UK

Awkward Liz Truss spends 29 silent minutes in Commons humiliation over her Budget

The lame duck Prime Minister has been missing in action since she sacked her long-time ally Kwasi Kwarteng on Friday as Chancellor and U-turned on her tax-cutting agenda

Daily Mirror

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The Guardian - UK

Jeremy Hunt hints at tax rises as he reverses mini-budget in Commons

Chancellor says decisions of ‘eye-watering difficulty’ are ahead and admits government partly to blame for market turmoil

Daily Mirror

'Labour Party can build a brighter future for Britain - Tories have to go'

Labour Party leader Sir Keir Starmer says the Prime Minister's partial U-turn was necessary, but the damage has already been done. The Conservatives have to go. Britain needs a fresh start.

The Guardian - UK

Keir Starmer criticises ‘grotesque chaos’ under Liz Truss government

Labour leader says UK is ‘crying out for clear leadership’ and his party ‘must provide it’

Manchester Evening News

The Mancunian Way: 'Objectively the worst'

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Manchester Evening News

We need more homes like this, Labour’s shadow chancellor says on tour of Ancoats

The Labour MP frontbencher came to Manchester on Thursday (October 13) to see the first new carbon neutral social housing

The Independent UK

‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend

‘Don’t prolong the pain’: IMF suggests government should accept swift climbdown

The Guardian - UK

Is Librium Liz a delusional narcissist or just disastrously dim?

The ongoing bin fire of Truss’s premiership leaves her cabinet floundering, incoherent and riven by remorse

Daily Mirror

Top Tory warns tax cuts U-turn WILL happen as 'pyromaniac' government refuse to back down

Mel Stride, who chairs the influential Treasury Select Committee, says he is among those who expects Chancellor Kwasi Kwarteng will have to row back further when he announces full financial plans

The National (Scotland)

Watch MPs jeer as Liz Truss claims General Election is 'last thing we need'

LIZ Truss was jeered in the Commons after she told MPs that a General Election was the “last thing we need”.

Evening Standard

Rishi Sunak’s summit with Labour’s Rachel Reeves at exclusive party

Was this the first summit of the “anti-growth coalition”?

The Independent UK

Labour to pile pressure on government for further U-turns over ‘disastrous’ mini-Budget

Party intends to use parliamentary processes to force the Tory chancellor to reverse his budget

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