Rachel Reeves’ growth policies scored by City AM October 20, 2025 As Rachel Reeves does her maths ahead of the 26 November Budget, she will hope that Labour’s policies have delivered enough growth to limit the number of tax hikes needed to restore her £9.9bn fiscal headroom. The fiscal black hole facing the Treasury could be between £20bn and £30bn due to higher borrowing costs, productivity [...]
Rachel Reeves gears up for £1bn savings in Motability October 17, 2025 Rachel Reeves is reportedly planning a £1bn savings package through cuts to the Motability scheme offered to disabled people. As part of a drive to plug a £30bn hole in the public purse, the Chancellor is considering reducing the number of BMWs and Mercedes some disability claimants can access through the Motability scheme, which is [...]
Bank of England should cut interest rates at ‘more cautious pace’, Huw Pill urges October 17, 2025 The Bank of England’s chief economist Huw Pill has renewed calls for interest rates to be cut at a “more cautious pace” in the next year, adding to the likelihood that Bank Rate may be held at four per cent for the foreseeable future. In a speech delivered on Friday, Pill said efforts to lower [...]
Cautious Brits plan to cut spending ahead of Golden Quarter October 17, 2025 Nearly three quarters of Brits plan to cut spending for the rest of 2025 as consumers continue to prioritise saving over splashing out. While consumer sentiment has remained flat at -5 over summer, inflation worries have been rising and nearly nine in ten Brits now report concerns, according to the latest Consumer Sentiment Survey from [...]
Over half of firms would stop hiring if Reeves hikes taxes, survey finds October 17, 2025 More than half of businesses would cut staff or stop hiring if taxes are hiked at this year’s Budget, a leading survey of accountants has found, a fresh warning that Chancellor Rachel Reeves risks inflicting further damage on the UK jobs market. Reeves has publicly said that she was considering making tax hikes at this [...]
Rachel Reeves and the tax and spend doom loop October 16, 2025 Rachel Reeves isn’t going to introduce a Wealth Tax, but she is going to tax the wealthy. She isn’t going to impose austerity, but she is going to get spending under control. Confused? Speculation over the contents of next month’s Budget has reached fever pitch, and it’s only going to ramp up from here. This [...]
Construction output weakens as gloom persists October 16, 2025 UK construction output has continued to shrink as companies struggle to build at the pace required by the government’s far-reaching housing goals. Output fell 0.3 per cent month on month in August, according to the Office for National Statistics (ONS), with the most pronounced decline in repair and maintenance. “The underlying trends in construction are [...]
Rachel Reeves: Higher taxes on wealthy ‘part of story’ for Budget October 16, 2025 Rachel Reeves has confirmed a tax grab on the UK’s wealthy will be “part of the story” for her forthcoming Autumn Budget as she dismissed critics who fear an exodus from the nation’s richest. The Chancellor has faced rallying calls to launch a cash grab on the wealthy as she looks to strum up funds [...]
UK economy grew 0.1 per cent in August October 16, 2025 The UK economy grew by 0.1 per cent in August, Office for National Statistics (ONS) figures have shown, with a struggling construction sector in the month weighing down on output across the UK. The ONS data indicated on Wednesday morning the UK economy was set for a significant slowdown after an upswing in spending over [...]
Reeves faces ‘Groundhog Day’ as Budget tax hikes loom October 16, 2025 Chancellor Rachel Reeves risks having to hike taxes ever higher in forthcoming budgets if she leaves herself with £9.9bn in headroom, a joint report by Barclays and the Institute for Fiscal Studies (IFS) has warned. The research has suggested that spending cuts would send a “crucial” signal to the bond markets that the government had [...]