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The Latest Breaking News from Rachel Reeves

Rachel Reeves under pressure as UK borrowing higher than forecast in June thanks to soaring debt interest costs

The ONS said borrowing rose £6.6bn to £20.7bn last month, marking the second highest on record for June

The Independent UK

UK borrowing higher than forecast in June as debt interest costs soar

The ONS said borrowing rose £6.6 billion to £20.7 billion last month, marking the second highest on record for June.

Evening Standard

Budget tax hikes even more likely after huge jump in June borrowing

Last month’s figures only exceeded in June 2020 at the peak of the pandemic

Evening Standard

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UK borrowing rises more than expected, putting pressure on Rachel Reeves

June figure of £20.7bn comes as chancellor prepares for autumn budget where she may have to impose tax rises

The Guardian - UK

Pensions aren’t working – Labour is right to grasp the nettle

THE INDEPENDENT VIEW: Editorial: For people in their forties and fifties, Liz Kendall’s overhaul – which may further raise the state retirement age – could prove painful and unpopular. But younger generations will one day be grateful that she took the tough decision to implement measures that will make their…

The Independent UK

Why City deregulation plans will backfire on Rachel Reeves

Letters: Readers respond to the chancellor’s proposals to cut red tape in the hope of boosting economic growth

The Guardian - UK

Rachel Reeves set to reject calls for wealth tax on super-rich

Rachel Reeves is set to reject introducing a wealth tax despite pressure from left-wing MPs in the Labour Party

The National (Scotland)

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Why the UK government could be set for £5 billion boost

Rachel Reeves is reportedly eyeing a £5bn windfall from the sale of seized cryptocurrency to help fill a gap in public finances.

The Independent UK

Reeves ‘eyes £5bn windfall from sale of seized cryptocurrency’

Labour’s chaotic welfare rebellion left the party with a £5bn spending gap to fill

The Independent UK

The quiet, matter-of-fact takeover of women holding senior economist roles

From Rachel Reeves to the MPC, and thinktanks to unions and lobby groups, many of the authoritative voices we hear discussing economics are female

The Guardian - UK

Millions of UK drivers could benefit from Rachel Reeves’ policy

IN FULL

The Independent UK

Rachel Reeves ‘could extend fuel duty freeze in autumn Budget’ in cost of living boost

The levy on fuel has been frozen since 2011, when George Osborne was chancellor

The Independent UK

UK sanctions Russian spies trying to ‘destabilise Europe’

Several of the men sanctioned on Friday are already wanted by the FBI in the United States.

Evening Standard

‘Why take the risk?’ Readers push back on Rachel Reeves’s savings shake-up

YOUR VIEWS: Rachel Reeves’s plan to nudge savers towards investing has met fierce resistance from readers, especially older ones, who say they already earn strong returns from cash ISAs and don’t want to risk losing money

The Independent UK

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The Guardian - UK

Labour shouldn’t fear taxing the rich – the people I work with would welcome it

The UK still holds many attractions for the privileged despite prophecies of a wealth exodus if Rachel Reeves swoops, says Stephanie Brobbey of the Good Ancestor Movement

The Guardian - UK

Chess: Rachel Reeves announces £1.5m fund as London ChessFest attracts 20,000 visitors

‘We are allocating £1.5m to help identify, support and elevate top-tier players who have the potential to compete at a global level’

Evening Standard

Labour’s economic illiteracy is dragging us into a doom loop

A debt disaster is looming — and too many backbenchers just don’t understand the grim reality

The Independent UK

‘UK’s most powerful supercomputer’ launches in £1 billion AI drive

The machine is expected to process in one second ‘what it would take the entire global population 80 years to achieve’

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Evening Standard

UK’s most powerful supercomputer comes online in major AI drive

Technology Secretary Peter Kyle flicked the switch on the Isambard-AI machine in Bristol on Thursday.

The Independent UK

Voices: As unemployment hits a four-year high, Rachel Reeves must now do whatever it takes

COMMENT : We now know that 178,000 jobs were lost in Labour’s first year in office, writes James Moore. So, what are you going to do about it, chancellor?

The National (Scotland)

Rachel Reeves says she wants to help first-time buyers. It won't work

Good evening! This week's edition of the In Common newsletter comes from Kaitlin Dryburgh, policy and communication co-ordinator at Common Weal.

The Guardian - UK

Labour backbench MPs push for tough, wholesale changes to gambling regulation

Large and growing group fear ministers may pull their punches when drafting new legislation to appease donors

Evening Standard

Reeves to pitch UK to G20 finance ministers as ‘beacon of stability’

Global uncertainty persists with the threat of US tariffs and the ongoing impact of the war in Ukraine.

The Guardian - UK

The Guardian view on Reeves’s trickle-down economics: deregulation dressed as economic renewal

Editorial: The ‘Leeds reforms’ revive a finance-first growth model – repackaging a failed economics as strategy, while sidelining real investment and wages

The Guardian - UK

Rachel Reeves warned by City grandees not to weaken banking safeguards

Chancellor’s plan to slash red tape could raise financial risks and do little to help households, say architects of UK’s post-2008 reforms

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