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The Latest Breaking News from Rachel Reeves

Mortgage rates edge up after Government borrowing costs soar and Pound falls

But they are not rising as sharply as after Liz Truss and Kwasi Kwarteng’s 2022 ‘mini-Budget’

Evening Standard

Treasury AI's 70 per cent accuracy rate 'better than humans doing it', tests find

The UK Treasury has begun using AI to reply to emails – and found that its 70 per cent success rate is “as good or better” than when their…

The National (Scotland)

Downing Street insists Rachel Reeves will be chancellor ‘for whole of this parliament’

The prime minister told an audience in east London that he is ‘completely confident’ in his team as pressure grows over the economy

The Independent UK

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Keir Starmer says Treasury will be ruthless on public spending cuts

Chancellor’s tough approach to public spending ‘absolutely right’, says PM after cost of government borrowing rose

The Guardian - UK

Keir Starmer gives full backing to Rachel Reeves as he claims AI can double UK productivity in a few years

The PM claimed the Chancellor was doing a ‘fantastic job’ despite the controversy over her Budget and the Pound’s drop in value

Evening Standard

Pressure mounts on Reeves as Starmer refuses to guarantee future of her job

Sir Keir Starmer declined to say the Chancellor would remain in post until the election.

Evening Standard

Keir Starmer backs under-fire Chancellor on order for 'ruthless' spending cuts

THE Prime Minister has said Chancellor Rachel Reeves is “absolutely right” to take a “ruthless” approach to public spending as he gave her…

The National (Scotland)

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CBI boss says Labour has ‘bruised’ trust of businesses after Budget

Rupert Soames said companies will ‘let people go’ before Labour’s new Employment Rights Bill comes into force.

The Independent UK

Pound hits 14-month low against dollar as CBI hits out over ‘hole in confidence’

Business group’s chair says government changes could prompt ‘quite an ugly rush’ of job losses

The Guardian - UK

Angela Rayner warned new workers’ rights plan could prompt ‘ugly rush’ to sack staff

Labour chancellor Rachel Reeves also accused of undermining business confidence and trust with surprise national insurance hike in the Budget

The Independent UK

Chancellor facing tough questions over fiscal rules as market woes deepen

Chancellor Rachel Reeves said over the weekend that her fiscal rules were ‘non-negotiable’.

Evening Standard

UK politics live: Reeves urged to call urgent meeting with banks as economy decline prompts austerity fears

The pound is under further pressure as Government borrowing costs continued to push to multi-decade highs

The Independent UK

Pound falls again and borrowing costs hit new high but Keir Starmer gives Rachel Reeves 'full confidence'

No10 said Chancellor will remain until the next election as pressure mounts on her amid the economic problems facing Britain

Evening Standard

Pound slides to fresh 14-month low as stocks fall; rise in UK borrowing costs reverses – as it happened

Dollar jumps to over two-year high against major currencies as bets on US rate cuts recede; UK 30-year government bond yield eases after hitting fresh 27-year high

The Guardian - UK

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The Guardian - UK

Reeves back from China with one eye on bonds and the other on economic data

The chancellor will be monitoring the price of gilts after last week’s selloff and data to come on inflation and growth

The Independent UK

Business chiefs’ pessimism adds to pressure on Rachel Reeves

The figures came in a quarterly survey carried out in December.

The Independent UK

Reeves returns from China to new crisis in top UK business confidence amid economic woes

A survey by Deloitte of the chief finance officers of major companies has revealed that business confidence is at one of its lowest points since the Covid-19 pandemic

The Guardian - UK

Why Starmer and Reeves are pinning their hopes on AI to drive growth in UK

The PM and chancellor believe AI will help British workers produce more, raising wages and releasing spare capital

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The National (Scotland)

Labour to go 'all-in' on AI amid desperate struggle to regain control of economy

BRITAIN will go “all-in” for artificial intelligence as Labour outline their plan to harness the tech in a bid to turn around the dismal…

The Guardian - UK

One in six UK workers skipping meals to make ends meet, says TUC

Trade unions body finds 17% have skipped meal in past three months, and as many as 10% do so most days

Evening Standard

Chinese investment of £600 million in UK ‘a start’, says Cabinet minister

Science Secretary Peter Kyle said the Chancellor has returned from China with ‘solid commitments for investment’.

The Guardian - UK

Despite the promises, Labour may have to acknowledge more tax rises are needed

It would be politically painful, but so are other options if Rachel Reeves is to improve UK’s broken public services

The Guardian - UK

Britain is a weak link in Donald Trump’s new world order, so it needs to find friends… fast

Amid deepening debt and an onslaught by the president-elect, Labour must calm the markets, then think big economically

Evening Standard

What the papers say – January 12

Here are the major stories making headlines this Sunday.

The Independent UK

The school which launched the Reeves sisters into politics would fail under Labour reforms, claim Tories

Tories claim improvements to the school which educated two of Keir Starmer’s cabinet ministers would not have been allowed by Labour’s education reforms

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