Spring Statement 2025: Reeves makes further cuts to Universal Credit March 26, 2025 Further cuts will be made to Britain’s welfare bill – but only save the government £3.4bn rather than the £5bn originally thought – Rachel Reeves has announced in the Spring Statement. The Chancellor has confirmed there will be further reductions to the cost of benefits, and to government spending, after the Office for Budget Responsibility [...]
Spring Statement: Reeves should abolish the OBR March 26, 2025 By strengthening the OBR, Reeves has created severe difficulties for herself. Vital decisions about our economic future should be made by politicians, not unelected quangocrats, says Paul Ormerod Later today we will know for certain what is in Rachel Reeves’ Spring statement, a budget to all intents and purposes. But as is usually the case [...]
Reeves told to use Spring Statement to fix ‘unintended consequences’ of Budget March 24, 2025 Rachel Reeves must use the Spring Statement to fix the “unintended consequences” of her Autumn Budget, the boss of a tax services firm has said. Tom Shave, President of the Europe and Asia-Pacific division at Ryan, has urged the Chancellor to use Wednesday’s update to provide businesses under economic pressure necessary support. Shave anticipated Reeves’ [...]
Chancellor rules out ‘tax and spend’ policies ahead of spring statement March 22, 2025 The Chancellor has ruled out “tax and spend” policies ahead of her spring statement next week. Rachel Reeves is under pressure to increase taxes or cut spending to meet the financial rules she set at the budget in October amid disappointing growth figures and higher-than-expected borrowing. Figures released on Friday came as a further blow, [...]
Do we need to rethink Brexit’s impact on UK-EU trade? March 20, 2025 With the weekend approaching, allow me to furnish you with a classic conversation starter for the pub or a dinner party; have you heard that the OBR might have overstated the impact of Brexit on the UK’s trade with the EU? In my experience this kind of line serves as a perfect icebreaker or an [...]
Income tax will need to rise to fund defence push, Mervyn King says February 27, 2025 Speaking on Sophy Ridge's show on Sky News, Mervyn King acknowledged the government was in a "very difficult position," but criticised it for a lack of ambition.
Economists warn of tax hikes after borrowing blow February 21, 2025 Figures from the Office for National Statistics (ONS) showed that tax receipts fell short of expectations in January due to the sluggish performance of the UK economy.
Pressure on Rachel Reeves grows as tax receipts disappoint February 21, 2025 Tax receipts rose at a slower pace than expected in January, new figures show, in a sign that the poor performance of the economy could have damaging fiscal consequences. According to figures from the Office for National Statistics (ONS), the government recorded a monthly surplus of £15.4bn, meaning it received more in taxes than it [...]
Growth is now near impossible. Here are 7 pleas for Reeves’ Spring Budget February 19, 2025 Growth is impossible if we continue on as we are but the Spring Budget is a chance for change, writes Steve Rigby.
Is Rachel Reeves heading for her own black Wednesday moment? February 13, 2025 If the OBR downgrades growth forecasts and the Chancellor breaks one of her own fiscal rules, it could be the beginning of the end for Rachel Reeves just as Black Wednesday was for Norman Lamont and the Major government, says Malcom Gooderham Within months of winning the 1992 general election John Major’s administration suffered a [...]