The Latest Breaking News from Rachel Reeves

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: 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

In today’s newsletter: Starmer has returned from summer recess to a budgetary black hole and Farage on his heels – so a deputy leadership contest is the last thing he needs

The new strategy promises £250 million investment in regions with high defence potential.

Former science secretary promoted in reshuffle to continue UK efforts to revitalise trade relationship with Beijing

Older people would save anyway if state support was more limited, and overhaul of council tax would net billions more

Starmer brings forward cabinet reshuffle to restore order but fallout likely to further damage party’s reputation