The Latest Breaking News from Rachel Reeves

A previous plan to extend HS2 between the cities was scrapped by the Conservative government in October 2023 to save money.

Richard Hughes resigned from the Office for Budget Responsibility (OBR) in December over the mistaken early publication of its forecasts.

A survey of finance chiefs from accounting firm Deloitte found “geopolitical risk” ranked the number one concern among major UK businesses

The Government has rowed back on its flagship policy of mandatory digital ID, marking the latest in a series of major policy U-turns since the general election

The Treasury is understood to be preparing a support package for the pub industry, due to be announced in the coming days

Chris Parry, who is contending for the Hampshire and Solent mayoralty, says his post was intended ‘ironically’

THE INDEPENDENT VIEW: Editorial: The government’s latest U-turn, over business rate relief, will be welcomed by publicans – but it only comes after a noisy nationwide campaign that saw MPs banned from more than a thousand boozers. It is sadly emblematic of how this administration goes about its business

At the Oxford farming conference there were signs the government has much to do to win back farmers’ trust

Trade bodies said ‘piecemeal responses’ will not ‘save our high streets’.