Economists warn Rachel Reeves could be forced to make ‘£20bn tax grab’ June 11, 2025 Top economists have warned Brits to brace for another wave of painful tax hikes in the autumn after Rachel Reeves unveiled the government’s £190bn spending splurge. After unveiling her Spending Review, which laid out extra spending on the NHS, defence, housing and nuclear energy, the Chancellor told MPs she was committed to ensuring public finances [...]
Reform and Tories aligned on Spending Review criticism June 11, 2025 Reform UK has described government spending plans as being “completely out of control” after Rachel Reeves unveiled a package of measures that would increase spending by nearly £200bn over the course of the parliament. Responding to the Chancellor’s Spending Review, Reform Deputy Richard Tice said: “inflation is up, unemployment is up, government borrowing is up, [...]
Spending Review: Gilt yields dip in relief for Rachel Reeves June 11, 2025 Gilt yields fell in the minutes following the publication of the government’s Spending Review, paring back earlier rises and raising hopes the Chancellor had placated markets over her splurge on infrastructure, energy and healthcare spending. The 10-year UK government bond yield nudged down from 4.61 per cent to 4.55 per cent after the Spending Review [...]
Reeves’ Spending Review: Spend now, tax later? June 11, 2025 Cash will be splashed across transport, energy, and healthcare under plans laid out by Chancellor Rachel Reeves in her Spending Review. Reeves described the plans, which will see an extra £190bn in government spending, as “a credible plan for the renewal of Britain.” But Shadow Chancellor Mel Stride warned the spending splurge would spark tax [...]
UK GDP growth expected to slide after Awful April June 10, 2025 The UK economy is expected to have contracted in April as the double whammy of tax hikes and higher energy prices help reverse the 0.7 per cent growth gains seen in the first three months of the year. A Bloomberg poll of economists said City analysts are pencilling in a 0.1 per cent reduction to [...]
London suffering from UK economic malaise, NatWest data suggests June 9, 2025 Businesses in London saw output decline for the second consecutive month in NatWest’s growth tracker – yet there is some optimism that the capital’s economy could resurge. Firms widely reported Chancellor Reeves’ tax hikes and a rise in energy bills, which kicked into effect in what has been dubbed ‘Awful April’, contributed to a decline [...]
Reeves mulls taxpayer-funded subsidy to cut manufacturers’ energy costs June 8, 2025 Rachel Reeves is looking at plans for a £1bn taxpayer-funded annual subsidy to bring down the energy costs for manufacturers after warnings the UK faced “rapid deindustrialisation” without intervention. The Chancellor is facing mounting pressure to lower energy costs for industry with fears high prices are holding back investment opportunities and stifling the country’s competitiveness. [...]
British businesses celebrated in third year of The King’s Awards for Enterprise: June 5, 2025 The recipients of The King’s Awards for Enterprise have now been announced, celebrating the achievements of leading businesses from across the UK and Channel Islands and recognising their vital role in growing our economy to improve lives. This year, 197 businesses representing a diverse range of sectors, have been recognised by His Majesty The King [...]
‘Never again’: Shadow Chancellor apologises for Truss’ mini-budget June 5, 2025 Shadow Chancellor Mel Stride is set to apologise for the fallout from the 2022 mini-budget, vowing that “never again will the Conservative Party undermine fiscal credibility by making promises we cannot afford.” In a speech later today, Stride is expected to apologise on behalf of the Tory government for having “put at risk the very [...]
Welfare U-turns show Starmer puts party ahead of country June 5, 2025 The Conservatives are the only political party able to say they take the country’s £100bn debt bill and £65bn welfare bill seriously, says Jamila Robertson We have heard the government assert time and again, that they are taking the difficult decisions. Almost a year on, with inflation up from two per cent to 3.5 per [...]