Changing tune: Now Reeves refuses to rule out future tax rises December 3, 2024 Rachel Reeves has repeatedly declined to guarantee that there will be no more borrowing or tax rises following her first Budget, despite being pressed by MPs on her previous pledge. Speaking at the Confederation of British Industry (CBI) conference in November, the Chancellor sought to reassure business leaders that there would be no repeat of [...]
Starmer refuses to rule out further tax rises or more borrowing November 27, 2024 Sir Keir Starmer has refused to rule out further tax rises or additional borrowing when challenged to repeat his Chancellor’s pledge not to “come back with more”. During Prime Minister’s Questions (PMQs) in the House of Commons on Wednesday, Conservative opposition leader Kemi Badenoch asked Starmer about Rachel Reeves’ words. She said: “At the Confederation [...]
Surge in government borrowing raises threat of more Reeves tax hikes, economists warn November 21, 2024 A sharp rise in government borrowing costs fuelled by pay rises for public sector workers and rising debt payments has raised the threat of future tax hikes, according to economists. Borrowing rose to £17.4bn last month, marking the second highest October figure since monthly records began, according to official figures. The Office for National Statistics [...]
Borrowing in October hits second-highest on record after inflation blow November 21, 2024 The government borrowed £1.6bn more in October than the previous year, making it the second-highest figure for the month in more than 30 years. The government’s borrowing – the difference between spending and income – hit £17.4bn in the last month, the Office for National Statistics said this morning. The body said the government’s current [...]
Borrowing figures show Reeves is in a fiscal bind ahead of Budget October 22, 2024 The latest figures showed that borrowing in September exceeded expectations yet again, driven by higher government spending.
Reeves promises ‘guardrails’ around extra borrowing in budget October 5, 2024 Chancellor Rachel Reeves has said she will introduce “guardrails” to ensure that extra borrowing for investment in her first budget is not excessive as she seeks to reassure investors about an expected rise in public debt. “It’s about making prudent, sensible investments in the long term and we need guardrails around that”, Reeves told the [...]
Millions set for mortgage payment shock this year October 2, 2024 Mortgagors refinancing over the next year will continue to see a big jump in their monthly repayments.
Government borrowing jumps as threat of tax hikes grows September 20, 2024 The figures come just over a month before Rachel Reeves delivers her first Budget as Chancellor.
OBR warns national debt is on ‘unsustainable path’ unless government takes action September 12, 2024 The OBR forecast that government spending would rise to 60 per cent of GDP, from 45 per cent at the moment, whereas revenue will remain flat.
Growth, inheritance tax and Natwest: Five subplots from the latest borrowing figures August 21, 2024 New figures show that the government borrowed more than expected in July as spending on public services increased faster than tax receipts.