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The Latest Breaking News from Rachel Reeves

Millionaires to flee UK in record numbers

An estimated 16,500 millionaires are set to leave the country in the coming 12 months

The Independent UK

Britain on track to lose 'unprecedented' 16,500 millionaires in 2025 amid high taxes and non-dom crackdown

The UK is set to lose twice as many high net worth individuals as China and ten times as many as Russia this year

Evening Standard

UK will commit to spending 5% of GDP on defence by 2035

Keir Starmer says investment in national security will also deepen Britain’s commitment to Nato

The Guardian - UK

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Labour MPs launch major rebellion to stop welfare bill

Amendment intended to kill off legislation that would cut benefits could be backed by up to 100 Labour MPs including senior figures

The Guardian - UK

British state ‘overbearing’ ministers say as they lay out industrial overhaul

In the Industrial Strategy published on Monday, the Government has backed UK industries it thinks have the potential to grow.

Evening Standard

British state is ‘feeble and overbearing’, Starmer says as he unveils industrial overhaul

In the Industrial Strategy published on Monday, the Government has backed UK industries it thinks have the potential to grow

The Independent UK

Reeves calls for Middle East de-escalation amid oil price fears

Government announces plan to cut firms’ electricity bills as part of launch of its industrial strategy

The Guardian - UK

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Palestine Action’s behaviour ‘totally unacceptable’, Chancellor says

Rachel Reeves condemned Palestine Action ahead of an update from the Home Secretary to Parliament on Monday on the Government’s plan to ban the group.

Evening Standard

DLR extension to Thamesmead: Sadiq Khan's 'dream' project makes progress after Government boost

TfL reveals designs for new stations as delayed new train fleet arrives

Evening Standard

Why it’s time to unshackle London and let it boom again

The rich are fleeing, the City is haemorrhaging listings — and it’s down to years of political neglect

Evening Standard

Minibuses for rural routes are in production

Letter: The business opportunity in manufacturing small buses in Britain has already been spotted, writes Richard Bramall

The Guardian - UK

Government Expands Warm Homes Discount Scheme to Help More Families

The Fashion Central

Voices: Whitehall isn’t working – here’s how the PM can fix it

INSIDE WESTMINSTER: Keir Starmer complains that the government machine is slow to crank into life when he demands action. To prevent his ‘mission-driven’ domestic agenda from being doomed to failure, the prime minister should first get rid of the Cabinet Office, says Andrew Grice

The Independent UK

Leaders on both sides of the border urge completion of Casement Park

A UK Government pledge of £50 million for the development of the west Belfast GAA stadium was included in Chancellor Rachel Reeves’ spending review.

Evening Standard

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The National (Scotland)

Experts warn Labour set to hike taxes as borrowing hits record figure

Fears the Chancellor will raise taxes in the autumn have been fuelled after official figures showed the highest May government borrowing outside the…

Evening Standard

Tax hike fears mount after government borrowing jumps in May

The ONS said borrowing surged to £17.7 billion last month, the second highest figure on record for May

The Guardian - UK

Reeves may need to raise taxes by £20bn in autumn after UK borrowing rises

May figure second highest for month on record amid fears chancellor is struggling to keep within spending rules

The Independent UK

Voices: Don’t panic, chancellor – there’s still hope for interest rate cuts

COMMENT: Forget homeowners with tracker mortgages or those desperate for a better deal – the person who’s hurting the most from the Bank of England’s decision not to lower interest rates is Rachel Reeves, says James Moore

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The Guardian - UK

Bank’s rate decision leaves frustrated Reeves praying for an August cut

Lower interest rates will be a lever for growth but the Middle East conflict and rising food prices will have troubled MPC

The Guardian - UK

Reeves promised oil industry ‘quid pro quo’ over windfall tax in private meeting

Government accused of making ‘secret exchange deal’ with fossil fuel companies to compensate for tax hike

The Fashion Central

Rachel Reeves Backtracks? Treasury May Soften Tax Blow After Rich Flee UK - Fashion Central UK

Chancellor Rachel Reeves is considering reversing a key part of her non-dom tax reforms following an exodus of wealthy individuals from Britain. The Treasury

The Independent UK

Repeated failings by the nursing regulator demand a new approach

THE INDEPENDENT VIEW: Editorial: No stranger to oversight errors, the Nursing and Midwifery Council has now been revealed to have allowed hundreds of underqualified or fraudulently qualified nurses to work in Britain. Wes Streeting should now draft in his predecessor to assist in rooting them out

The Independent UK

Voices: Who’s to blame for food price hikes – supermarkets or Rachel Reeves?

COMMENT: The retail giants point the finger at the chancellor’s business tax rises as food inflation jumps to 4.4 per cent – so, asks James Moore, are they right, and will mortgages and petrol pump prices be next?

The Independent UK

Voices: Rachel Reeves cannot afford to lose any more non-doms

COMMENT: Even if the exodus of billionaire entrepreneurs and investors has finally forced the chancellor to rethink her decision to tax non-domiciled individuals based on global assets, Chris Blackhurst says she will have much more to do to shake off the feeling that this government cannot abide the ‘filthy rich’

The Independent UK

Reeves considers U-turn on non-dom crackdown to halt exodus of wealthy

Chancellor could look to stem the flow of wealthy taxpayers leaving UK after Britain experienced its most significant drop in billionaires ever last year

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