The Latest Breaking News from Rachel Reeves

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

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

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?

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’

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

At 3.4 per cent inflation remains far above the Bank of England’s target

The Confederation of British Industry said rising costs are set to dampen the government’s growth ambitions

Exclusive: The deputy prime minister, writing for The Independent, has hit back at critics as she unveils a new housebuilding measure as Labour targets 1.5 million new homes over this parliament

The new body will be designated as a public financial institution and will work with mayors and local leaders, the Government said.