Tax rises ‘guaranteed’ as Healey faces £22bn black hole from Burnham spending plans Economics Chancellor John Healey will be forced to launch another round of major tax rises in the autumn, leading economists have warned, after a Morning Wire analysis found £22bn of spending pledges are not accounted for in official forecasts. Less than 24 hours after becoming Prime Minister, Andy Burnham has already announced plans to end rough [...]
Is Rachel Reeves the Prime Minister’s lucky general? Opinion Napoleon is supposed to have declared that he’d “rather have lucky generals than good ones.” Here in the UK, it seems we have a Chancellor who fits just such a mould. Only the most loyal Labour MPs would declare that Rachel Reeves is a good Chancellor, and in doing so they’d be setting themselves firmly [...]
Rachel Reeves panics markets by ditching plans for income tax hike Economics Rachel Reeves is understood to have scrapped plans to break Labour’s manifesto and hike income tax in the forthcoming Autumn Budget. The Chancellor was poised to hike income tax by 2p whilst cutting national insurance by the same amount in a move that would break Labour’s pledge to not raise taxes on ‘working people.’ Over [...]
Pound falls to 2023 low against Euro as Budget jitters spike October 29, 2025 The Pound suffered a sharp drop on Wednesday as investors braced for an economic hit in Rachel Reeves’ forthcoming Budget. Sterling’s downturn came as the UK’s fiscal watchdog looks set to hand a hefty downgrade to the country’s productivity growth. On Wednesday morning, the pound fell 0.4 per cent against the Euro to 1.13 – [...]
Reeves’ National Wealth Fund faces ‘very challenging’ growth goal October 28, 2025 Rachel Reeves faces an uphill battle as she looks to use her National Wealth Fund to ramp up the government’s economic growth mission, top MPs have warned. The Chancellor has touted the new unit as a growth-focused initiative that would unlock over £70bn in private investment. But in a new Treasury Select Committee report, the group’s [...]
Retail giants warn Reeves her tax plans risk UK living standards August 21, 2025 Tesco, Sainsbury’s and John Lewis, along with other UK retail heavyweights, have issued a direct warning to chancellor Rachel Reeves, arguing that her government’s tax policies could undermine its key promise to raise living standards. The retailers claim they are being forced to raise prices in the face of mounting costs, and that additional taxes [...]
No ‘numerical’ migration target but UK should train own workers, minister says December 1, 2024 The UK won’t have a “numerical target” for net migration but should focus on training “our own workforce”, a cabinet minister has said. Pat McFadden has said the government wouldn’t be putting a figure on the level of net migration it wanted to see as part of the wider plan for change to be announced [...]
OBR, workers rights and planning: What to watch out for in the King’s Speech? July 16, 2024 Labour will set out their programme for government on Wednesday, when King Charles will deliver the King’s Speech as part of the state opening of Parliament.
Let’s be honest, there’s no such thing as a ‘fully costed’ manifesto June 13, 2024 All parties are putting forward nice-sounding policies and promising that they’ll be paid for by someone else, says Matthew Lesh “Our plans are fully funded and fully costed,” proudly declares every party leader when presenting their election manifestos. It’s not difficult to understand why this is so important. Politicians are trying to run a gigantic [...]