The Latest Breaking News from Rachel Reeves

Key figures from No 10 and No 11 appointed to group include Torsten Bell, new economic adviser Minouche Shafik and comms chief Tim Allan

Rain Newton-Smith warned Rachel Reeves against ‘slavish adherence’ to tax pledges made in the run-up to last year’s general election.

Labour’s massive election victory already feels long ago. The PM needs to build a new electoral alliance – and quickly, says Guardian columnist Rafael Behr

Starmer’s ‘budget board’ is part of his reset following the resignation of Angela Rayner last week

Rain Newton-Smith tells chancellor ‘the time for tinkering is over’ and revisit promise not to raise taxes on working people

COMMENT : The energy tycoon and co-owner of Manchester United is considering moving his investments out of the UK, saying it has become ‘one of the most unstable fiscal regimes in the world’. But could there be more to it than meets the eye, asks James Moore

The Prime Minister also told his top team that economic growth is the Government’s top priority as it seeks to take on Nigel Farage’s party.

Higher earners could be targeted at the chancellor’s second fiscal event

THE definition of insanity is, famously, doing the same thing over and over and expecting different results.

COMMENT: As British workers make record withdrawals from their pension pots, amid fears that the chancellor is about to reduce the tax-free limit in her autumn Budget, James Moore worries that some people might be prompted to make bad decisions that will affect more than just their later years

Lenders have raised rates on some deals amid a ‘fraught political and economic climate’, with more expected to follow