The Latest Breaking News from Rachel Reeves

COMMENT: The Bank of England can still cut rates at its August meeting, reassures James Moore. So, this blip may prove temporary...

The Scottish First Minister criticised plans set out by the Chancellor in her Mansion House speech on Tuesday night.

Property values rose by 3.9% on average in the 12 months to May, up from 3.6% annual growth in April, according to ONS figures.

Fresh headache for Rachel Reeves as inflation jumps to 18-month high

Mayor in Africa sparks new ‘red on red’ clash with Labour chancellor

UK inflation rose to a near 18-month high in June, with the Consumer Prices Index reaching 3.6 per cent, an unexpected increase from 3.4 per cent in May. The drivers of the increase included food prices rising for the third consecutive month, and a significant rise in air fares. The…

Analysts say pressure will be on Bank to keep interest rates higher for longer, as consumers’ mood stays gloomy

The “grim” jump in inflation to an 18 month high is not expected to prevent an interest rate cut next month

The Office for National Statistics said Consumer Prices Index inflation rose to 3.6% in June, up from 3.4% in May.

Reeves set out the changes in her annual Mansion House speech to finance bigwigs in London, saying she was “rolling back regulation that has gone too far in seeking to eliminate risk”.

Annual increase in June follows warnings about increase in employment taxes leading to job cuts and higher prices