Reeves’ impossible mission to save the public finances – in four charts May 22, 2025 Government borrowing spiked in April, according to official data, in a stark illustration of the difficult fiscal tightrope that the Chancellor Reeves is walking. The £20.2bn in monthly borrowing was steeper than economists’ prediction of £18bn. So, Reeves might have shivered when she heard Keir Starmer tell the House of Commons winter fuel payments would [...]
Starmer refuses to rule out further tax rises May 21, 2025 The Prime Minister has refused rule out further tax rises when challenged by Tory leader Kemi Badenoch during Prime Minister Questions. The fiery exchange came after it was revealed that Deputy Prime Minister Angela Rayner pushed for a £4bn tax hike on wealthier people in the lead up to the Spring Statement earlier this year. [...]
Reeves warned against bank tax raid May 21, 2025 Rachel Reeves has been warned of the growth consequences of upping tax on lenders after a leaked memo from Angela Rayner called for the Chancellor to launch a cash grab on banks. Reeves was sent a memo by the Deputy Prime Minister ahead of the spring Statement, which called for an annual £700m hike on [...]
Angela Rayner pushes for tax hikes on savers, in split with Reeves May 21, 2025 Angela Rayner reportedly pushed for a £4bn tax raid on wealthier Brits in the lead up to the Spring Statement, in signs of a senior Cabinet level split on economic policy. According to a leaked note reportedly seen by The Telegraph, the Deputy Prime Minister lobbied the Chancellor to introduce billions of pounds of taxes [...]
UK construction crumbles in April as ‘bumpy ride’ continues May 7, 2025 UK construction endured another month of collapsing output in April, new research has suggested, in signs that a turnaround in the sector is still distant. The sector has now seen a decline in output over four consecutive months, according to S&P Global’s newest purchasing managers’ index (PMI). Civil engineering remained the weakest area of construction [...]
Construction firms lose hope but businesses are ‘showing resilience’ April 30, 2025 Construction firms have grown despondent about their business prospects despite signs of resilience across the UK economy, a new survey has found. The sector is key to the housing secretary Angela Rayner’s plans to build 1.5m homes by 2030 though early signs suggest the ambitious target will not be met. Construction saw a bigger drop [...]
Employment Rights Bill will ‘cut retail staff numbers’ April 29, 2025 Labour’s Employment Rights Bill will lead to job cuts and price hikes, a poll of 31 major retailers has found, in the latest sign the government’s legislative agenda risks harming economic growth. The legislation, which is nearing its final stages in Parliament, introduces sweeping changes to zero-hours contracts, sick pay, leave, flexible working and dismissal, [...]
Bankrupt, rat-infested Birmingham shows why local government matters April 23, 2025 With local elections across much of England, it’s time we took regional accountability much more seriously, says Simon Clarke Next Thursday, there are local elections across much of England. For many people, these events will pass them by entirely. For others, they will be purely an opportunity to send a message about national politics: it [...]
Week in Business: Labour’s jobs madness as employers urge change of plan April 17, 2025 Business Secretary Johnny Reynolds was so fed up with people criticising him for never having run a business that he bought himself a whopping great steel mill in Scunthorpe. Now firmly a member of the boss class, will he have sympathy with the business chiefs who this week begged the government to rip up their [...]
Business groups attack ‘deeply damaging’ employment reforms April 16, 2025 The UK’s five largest business groups have warned that the government’s flagship workers’ rights package will be “deeply damaging” to the UK’s growth prospects and will worsen living standards in the UK. In a co-ordinated effort, Britain’s ‘Big Five’ business groups have taken the unusual step of writing to all members of the House of [...]