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The Latest Breaking News from Rachel Reeves

Heathrow breaking records as passenger numbers soar

The airport made £1.3m per day in profits before tax in the first nine months of 2024

The Independent UK

Reeves sympathetic towards ‘mess’ ministers face ahead of Budget

The Prime Minister has previously warned that the Budget next Wednesday would be ‘painful’.

The Independent UK

Britain suffered 14 years of Tory small-state delusion. Labour’s budget will turn the page on that

While the Tories harp on about the ECHR or the ‘woke bureaucracy’, Rachel Reeves will get serious about public investment, says Guardian columnist Rafael Behr

The Guardian - UK

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Local transport funding at risk as Reeves considers big budget cuts

Exclusive: England mayors fear bus, tube and tram plans could be scrapped if Treasury reneges on agreed budgets

The Guardian - UK

See off ‘uncertainty’ over Ukraine by seizing frozen assets, MP urges minister

Helen Maguire urged Defence Secretary John Healey to quickly repurpose frozen assets to bolster Ukraine’s war chest.

Evening Standard

What is inheritance tax? All the changes made by Rachel Reeves in the autumn Budget

The Chancellor’s shocking stamp duty announcement rises from today

Evening Standard

Inheritance tax already up 10 per cent as Reeves looks to squeeze levy in Budget, official figures show

Chancellor warned that hiking the tax at next week’s Budget risks punishing middle-class homeowners

The Independent UK

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Budget 2024: Boost for Labour Chancellor Rachel Reeves as IMF ramps up economic growth forecast for Britain

The leading economists increased their prediction for GDP growth in the UK in 2024 from 0.7 per cent to 1.1 per cent

Evening Standard

UK economy to grow faster than thought in pre-Budget boost for Reeves

Only Spain was given a bigger economic upgrade by the IMF, making the UK the biggest beneficiary for extra growth in the G7 – although the US’s new growth rate of 2.8 per cent is higher

The Independent UK

Air Passenger Duty may go up in Reeves’s Budget – could the ‘Inverness Immunity’ come to an end?

Plane Talk: Why it’s not always a good idea to tax the traveller until the pips squeak

The Independent UK

IMF warns Trump trade tariffs could dent global economy as it upgrades UK outlook

New report upgrades outlook for UK economy with growth now forecast at 1.1% rather than 0.7%

The Guardian - UK

Miliband faces crunch decision on speed of greenhouse gas cuts

Energy secretary prepares new pledge for big UK carbon cuts in next decade amid potential cabinet division

The Guardian - UK

IMF upgrades UK economic growth as elections drive global uncertainty

It came as the financial agency held its forecasts for the global economy steady for 2024, with a slight downgrade for next year.

Evening Standard

Rachel Reeves urged to introduce ‘child lock’ on benefits to reduce poverty

Exclusive: Save the Children calls for pensions triple lock-style policy to protect child-related welfare spending

The Guardian - UK

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The Independent UK

Public sector pay rises hand Reeves a £6.7bn headache ahead of Budget

The surprise rise in borrowing came despite the cut to Britain’s expenditure on winter fuel allowances

The Guardian - UK

Rail, water, energy: the big projects likely to be in Rachel Reeves’ budget

Chancellor expected to promote range of infrastructure plans to boost economy, including reviving parts of HS2

The Guardian - UK

No 10 says Starmer ‘shares public anger’ at early prisoner releases but system facing paralysis without it – as it happened

Downing Street says government ‘shocked’ at inheriting prisons crisis as hundreds of prisoners get early release

Evening Standard

Budget 2024: How tax rises by Chancellor Rachel Reeves will hit Londoners and London firms

Standard analyses impact of potential tax rises in the Chancellor’s October 30 Budget on millions of Londoners

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Evening Standard

UK borrowing surges past official forecasts ahead of Budget

The ONS said public sector net borrowing in the first half of the financial year stood at £79.6 billion, £6.7 billion higher than forecast by the OBR.

The Guardian - UK

IMF warns markets are underestimating geopolitical risks; UK faces a ‘narrow path’ on debt reduction – as it happened

IMF predicts UK will grow by 1.1% this year, making it the joint third-fastest G7 country, but debt consolidation will be a challenge

The Guardian - UK

What is inheritance tax and why might Reeves target it in her budget?

Some are predicting sweeping changes to the levy payable on the part of estates over £325,000

The Guardian - UK

Cross-party MPs urge Reeves to impose 2% tax on wealth above £10m

Move could raise £24bn a year say signatories including Jeremy Corbyn as polls suggest public support

Evening Standard

What the papers say – October 22

Here are the biggest stories leading Tuesday’s front pages.

The Independent UK

UK to use frozen Russian assets for £2.26 billion loan to support Ukraine war effort

The funds represent the UK’s share of a $50 billion (£38.39 billion) loan package agreed upon by the G7 nations, financed through interest generated from sanctioned Russian sovereign assets

Evening Standard

UK’s £2.26bn loan for Ukraine ‘can help turn the tables on Putin’s war machine’

Chancellor Rachel Reeves and Defence Secretary John Healey announced the move, which will be funded by profits on frozen Russian assets.

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