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The Latest Breaking News from Rachel Reeves

Reeves expected to freeze income tax thresholds to raise funds after welfare U-turn

Government’s concessions over welfare cuts leave chancellor with a growing hole in her budget

The Guardian - UK

Labour in ‘good place now’ on welfare, Kendall insists after Government U-turn

Number 10 offered concessions in a late-night climbdown to head off Sir Keir Starmer’s first Commons defeat.

Evening Standard

UK Govt Climbs Down On Welfare Cuts In Latest U-turn

The UK government backed down Friday on controversial plans to slash disability and sickness benefits after a major rebellion by MPs, in a blow to Prime Minister Keir Starmer's authority.

International Business Times

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Third U-turn in a month leaves Keir Starmer diminished

Changes to welfare bill likely to win over moderates, but PM’s reputation for embracing tough reforms damaged

The Guardian - UK

UK politics: Starmer says welfare concessions are ‘common sense’ but dodges funding question – as it happened

No 10 has offered significant concessions to the rebels, estimated to cost around £3bn a year, amid fears over Tuesday’s vote

The Guardian - UK

Another tragic fact about this disastrous welfare bill: it proves Labour hasn’t learned and doesn’t truly listen

From cabinet members to the British public, there is an outcry about these benefits cuts. Why is the government always so poor at reading the room? asks Guardian columnist Polly Toynbee

The Guardian - UK

Morgan McSweeney: Is welfare backlash the beginning of the end for Starmer’s right-hand man?

NEWS ANALYSIS: Labour prime minister’s chief of staff under fire over crisis around plans to limit disability and sickness-related benefits, writes Kate Devlin

The Independent UK

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Rules that protect UK homeowners from repossessions may be scrapped

FCA boss says mortgage charter up for review amid pressure from the chancellor to remove red tape for firms

The Guardian - UK

Starmer admits employer national insurance tax hikes piled pressure on British business

Keir Starmer said the government recognised it has ‘asked a lot’ of British firms since the general election

The Independent UK

Bank of England governor warns of slowdown in the UK jobs market; review finds failings at ONS – as it happened

Andrew Bailey says slack appearing in labour market, after Keir Starmer tells businesses they have made a ‘huge difference’

The Guardian - UK

Thursday briefing: Keir Starmer is ready to make concessions on his welfare reform bill – will they be enough?

In today’s newsletter: The number of MPs supporting an amendment to the bill could lead to a decisive defeat

The Guardian - UK

OPINION - Avoiding inheritance tax, Michael Eavis? That’s rich!

Jeremy Corbyn-loving Michael Eavis calls himself a socialist — so why does he want to pay less tax?

Evening Standard

Universal theme park deal secured with UK pledge to spend £500m on transport

Attraction at site of former brickworks in Bedford could boost UK economy by £50bn and create 28,000 jobs

The Guardian - UK

Voices: Faced with a growing Labour rebellion against welfare cuts, Keir Starmer has one least-worst option left

COMMENT: The prime minister has belatedly been making the case for benefit reform and changes to PIP payments to calm his mutinous backbenchers – but, a year on from his historic election win, it risks becoming an issue of confidence in his leadership, says Andrew Grice

The Independent UK

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Evening Standard

Scottish Widows owes it to the UK taxpayer to invest in British companies

The pension giant plans to cut its exposure to UK equities from 12% to 3%

The Guardian - UK

Bank governor wades into row over Reeves’ focus on fiscal rule forecasts

Andrew Bailey says OBR projections – which the chancellor uses to calculate headroom – shouldn’t be ‘over-interpreted’

The Conversation

New industrial strategy brings Rachel Reeves’ securonomics to life – but will it protect Britain from more supply chain shocks?

Brexit, COVID, the war in Ukraine and now Trump’s tariffs have all highlighted how vulnerable life in the UK is to disruptions in trade. Everyday items that people rely on can be subject to major shortages, delays and price rises, due to something as simple as a ship getting stuck…

Evening Standard

Italian restaurant in heart of Covent Garden blames Rachel Reeves for 'difficult decision' to close

Margot Italian on Great Queen Street will serve its last customers this weekend after nine years of trading

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The Independent UK

Voices: I’m leaving the UK because of how Labour has treated wealthy non-doms like me… ciao!

COMMENT: Multi-millionaire businesswoman Dr Ann Kaplan Mulholland – who is moving from her Kent castle to Italy, for the more favourable tax jurisdiction – says Labour is running out of time to rethink its flagship plan to scrap non-dom status… and that Nigel Farage’s idea for the super-rich to pay…

The Independent UK

Millionaires to flee UK in record numbers

An estimated 16,500 millionaires are set to leave the country in the coming 12 months

Evening Standard

Britain on track to lose 'unprecedented' 16,500 millionaires in 2025 amid high taxes and non-dom crackdown

The UK is set to lose twice as many high net worth individuals as China and ten times as many as Russia this year

The Guardian - UK

UK will commit to spending 5% of GDP on defence by 2035

Keir Starmer says investment in national security will also deepen Britain’s commitment to Nato

The Guardian - UK

Labour MPs launch major rebellion to stop welfare bill

Amendment intended to kill off legislation that would cut benefits could be backed by up to 100 Labour MPs including senior figures

Evening Standard

British state ‘overbearing’ ministers say as they lay out industrial overhaul

In the Industrial Strategy published on Monday, the Government has backed UK industries it thinks have the potential to grow.

The Independent UK

British state is ‘feeble and overbearing’, Starmer says as he unveils industrial overhaul

In the Industrial Strategy published on Monday, the Government has backed UK industries it thinks have the potential to grow

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