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The Latest Breaking News from Rachel Reeves

UK economy: GDP shrunk in October in fresh blow for Rachel Reeves

Economy contracted by 0.1% in October, according to the Office for National Statistics

The Independent UK

UK economy shrank unexpectedly before budget, data shows

GDP fell by 0.1% in October as activity failed to regain momentum after cyber-attack on Jaguar Land Rover

The Guardian - UK

MPs announce inquiry into work of Office for Budget Responsibility

Treasury committee will examine agency’s forecasting record and discover where it ‘needs to do better’

The Guardian - UK

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

Charities’ fury at Starmer for raiding international aid budget to tackle migration crisis

Exclusive: Overseas aid money to be used to tackle illegal migration from Bangladesh by paying its government to crack down on rogue agents selling bogus visas

The Independent UK

‘New future achievable’ at Grangemouth as two firms plan job creation

Scottish Energy Secretary Gillian Martin said projects by MiAlgae and Celtic Renewables could create 460 jobs in the coming years.

Evening Standard

‘New chapter’ for Grangemouth as biotech firm breaks ground on site

MiAlgae’s plans to make fish-free Omega 3 supplements on the site could support more than 300 jobs over the coming years.

Evening Standard

Keir’s performance in PMQs panto sets bar low enough for Kemi to stay as Tory leader

Meanwhile, the Lib Dems’ Gentleman Ed rips into Starmer for staying silent on The Donald’s US security strategy

The Guardian - UK

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Reeves admits Budget leaks were ‘extremely damaging’ but insists she wasn’t to blame

Chancellor hits out at ‘too many leaks’ and says inquiry is underway to root out the person responsible

The Independent UK

Reeves criticises budget leaks and says income tax decision taken ‘in partnership’ with PM

Chancellor defends budget but tells MPs there were ‘too many leaks’ and that and much of them were inaccurate

The Guardian - UK

William Hill owner considers sale after Budget gambling tax hikes

Debt-laden Evoke said the potential sale comes a number of gambling taxes were increased in last month’s Budget.

Evening Standard

William Hill owner Evoke considers sale or breakup after budget tax rises

Value of heavily indebted company has plummeted more than 90% since it bought chain of 1,400 bookmakers

The Guardian - UK

Reeves: PM and I decided ‘as a team’ not to hike income tax

The Chancellor also said a leak revealing she had dropped plans for an income tax rise was ‘incredibly damaging’.

Evening Standard

Transport is the lifeblood of London's economy - we need to get it right

The Thamesmead DLR extension is a powerful signal and confidence-builder in the market, but it must be the start of a joined-up approach

Evening Standard

Resign over Budget briefing chaos, Reeves urged as she orders leak inquiry at the Treasury

Chancellor Rachel Reeves has been urged to resign over the chaos in the run up to her financial statement

Evening Standard

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The Guardian - UK

No 10 publishes list of 34 new political peerages including 25 Labour, five Liberal Democrats and three Conservatives – as it happened

Downing Street publishes list including ex-Olympic swimmer Sharron Davies and Iceland supermarket chief Richard Walker

The Guardian - UK

Rachel Reeves’s test from the bond markets starts now

UK gilt yields may have dropped a bit relative to other major countries, but it’s not at all clear that the fall with continue

The Guardian - UK

Bank of England expects budget will cut inflation by up to half a percentage point

In a boost for Rachel Reeves, deputy governor says analysis shows chancellor’s policies will lower annual rate next year

Evening Standard

Covid-19 fraud cost taxpayers £10.9bn but ‘much beyond recovery’, report finds

The final report by the Covid counter fraud commissioner, Tom Hayhoe, found that many schemes were rolled out quickly with significant risks.

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The Conversation

Struggling to find a job? Three reasons why the UK labour market is stuck right now

Britain’s jobs market appears to have entered a “low-hire, low-fire” freeze, creating stagnation that could affect everyone from school-leavers to professionals. But unlike recessions characterised by mass layoffs, this scenario represents a market in which workers cling to their jobs while newcomers find the door shut.

The Independent UK

Reeves’ £150 cut in energy bills will be nuked by Sizewell costs, ex-Labour donor claims

Dale Vince’s claims over the impact of paying for Sizewell C on energy bills is one of a number of hidden costs which could see consumers pay higher bills - instead of £150 less

The Guardian - UK

Zipcar’s demise means people such as me are back in the slow lane – and stuck needing their own costly car

The impending collapse of UK carsharing is an embarrassment for a government attempting to curb the dominance of cars, says writer Phineas Harper

The Guardian - UK

Ministers urged to close £2bn tax loophole in car finance scandal

Banks and specialist lenders will not pay tax on compensation payouts, sidestepping 2015 rule

Evening Standard

On Zack Polanski’s Magic Money Tree, economic gravity simply doesn’t exist

The Green Party leader thinks Modern Monetary Theory is a cure for Britain’s woes — others see it as snake oil at best, writes Jonathan Prynn

The Guardian - UK

The Guardian view on reducing child poverty: with the two-child limit gone, Labour must go further

Editorial: The new strategy has gaps. But ministers have shown that they are serious and capable of listening

Evening Standard

Reeves will not face ministerial standards probe over Budget briefings

Nigel Farage had called for an investigation into whether the Chancellor mispresented the state of the public finances ahead of her fiscal statement.

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