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The Latest Breaking News from Rachel Reeves

Labour MPs fear chancellor’s tough budget will bring new set of problems

Concerns from party that significant cuts to key departments will set damaging tone for new government

The Guardian - UK

UK's Labour Govt Prepares To Unveil Its First Budget

Britain's new Labour government unveils its maiden budget Wednesday, with Prime Minister Keir Starmer warning of "painful" decisions over taxes and public spending.

International Business Times

Budget 2024: Labour Chancellor Rachel Reeves big bang tax, borrow and spend gamble risks backfiring

Commentary: If Sir Keir Starmer and Rachel Reeves’ big bet Budget pays off a second term awaits, if it doesn’t everything will be to play for at the next general election

Evening Standard

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In her first budget, the chancellor faces a minefield of risks

Ahead of the new government’s first budget on October 30, chancellor Rachel Reeves has revealed her determination to change borrowing rules that will allow her to boost investment spending.

The Conversation

Keir Starmer says stocks and shares owners ‘not working people’ in hint at capital gains hike

Chancellor Rachel Reeves is looking for around £40bn of tax hikes and spending cuts in her first Budget since entering the Treasury

The Independent UK

New freeports, East Midlands investment zone funding coming in Budget – Starmer

The location of the five new freeports will be revealed by Rachel Reeves at the October 30 Budget.

Evening Standard

NatWest urges Reeves to ‘get balance right’ when changing debt rules

Bank’s boss says chancellor must signal intentions clearly amid risk to borrowing and mortgage rates

The Guardian - UK

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Small businesses in London look forward to growth but fret about the Budget says survey

The growth outlook in London has been steadily improving since the election in July

Evening Standard

Budget 2024: Minister reassures City that tax and spend 'guardrails' will avoid Trussonomics chaos

‘This is about bringing stability back into the economy,’ argued Treasury minister James Murray on the Government’s new fiscal rules

Evening Standard

Budget 2024: Pensioners, wealthy, landlords and shareholders 'face tax hit' as Labour defines 'working people'

Sir Keir Starmer and ministers have been grilled on their definition of ‘working people’ who will be protected from the brunt of tax rises

Evening Standard

Starmer climbs down over claim stock owners not ‘working people’

The government has been asked repeatedly to define ‘working people’

The Independent UK

Budget 2024: Rachel Reeves would hit pensions of millions with NI raid on employers, warns Lord Blunkett

The Labour peer made the last minute intervention, just days before the October 30 Budget, on increasing National Insurance on pension contributions by companies

Evening Standard

‘Focus on’ where people are getting their money from, says Treasury minister

The Government has been asked repeatedly to define the term ‘working people’.

Evening Standard

Budget 2024: Huge row erupts over Rachel Reeves 'raising mortgage rates' by borrowing billions

The clash over home loans erupted just days before the Budget on October 30

Evening Standard

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The Guardian - UK

As she delivers her budget, Rachel Reeves must not forget Labour’s historic mission

It is well within this government’s power to rebuild our welfare state, says John McDonnell, shadow chancellor from 2015 to 2020

The Guardian - UK

Friday briefing: The Commonwealth summit that could put reparations ‘on the table’

In today’s newsletter: Caribbean nations forced conversations about restorative justice on to the Chogm agenda – here’s what that could mean

Evening Standard

Downing Street climbs down on Keir Starmer's claim shares owners are not ‘working people’ ahead of Budget

The Prime Minister had suggested asset owners would not fall within his conception of what a working person is

The Independent UK

No 10 climbs down on PM’s claim stocks and shares owners not ‘working people’

The Government has been asked repeatedly to define what a ‘working person’ is to establish which taxes could rise.

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The Independent UK

What the papers say – October 25

A wide range of stories feature across Friday’s papers.

Evening Standard

Key mineral importers to get more cash help at the Budget

Rachel Reeves is expected to use her Budget on October 30 to announce companies bringing critical minerals will get access to UK Export Finance.

The Guardian - UK

State-backed loans to go to firms importing critical minerals into UK

Rachel Reeves to encourage import of raw materials from Commonwealth countries to counter China’s grip on market

Evening Standard

Consumer confidence falls again amid ‘despondent mood’ ahead of October Budget

Chancellor Rachel Reeves has repeatedly warned of ‘tough choices’ at upcoming spending review, hitting consumer sentiment.

The Guardian - UK

Keir Starmer hints at tax rises on people with income from assets

Shareholders and property owners who also work not within PM’s definition of ‘working people’

The Independent UK

King Charles acknowledges ‘pains of the past’ as he weighs in on reparations row amid pressure on Starmer

Chancellor Rachel Reeves says Britain could not afford to pay reparations for its part in the slave trade

International Business Times

UK Govt Changes Budget Rules To Borrow More For Investment

UK finance minister Rachel Reeves announced Thursday changes to fiscal rules to open up billions for investment in the centre-left government's maiden budget, but warned of tax rises and spending cuts.

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