Reeves rejects claims of £50bn 'black hole' in finances
Rachel Reeves has dismissed claims that she faces a £50 billion 'black hole' in the public finances. She insisted that reports about massive funding gaps were exaggerated, saying many commentators were 'talking rubbish'.…
Spring Statement: Reeves extends welfare cuts, OBR halves growth forecast
Rachel Reeves' Spring Statement revealed the Office for Budget Responsibility (OBR) has halved the UK's 2025 growth forecast from 2% to 1%. In response, Reeves announced deeper welfare cuts, including freezing the health…
Billions in spending cuts expected, including welfare, in spring statement
Rachel Reeves is expected to announce billions of pounds in spending cuts - possibly including welfare - during her spring statement on 26 March. Facing economic challenges and her self-imposed fiscal rules, Reeves…
Business confidence sinks after tax-raising budget
UK business confidence has fallen to its lowest level since the early days of the Covid pandemic, according to the Institute of Directors (IoD). November’s economic confidence index dropped to -65, the lowest…
Budget: NHS, schools, houses, tax rises
The UK’s largest tax increase since 1993 was announced as Rachel Reeves introduced a budget aimed at revitalising healthcare, education, and infrastructure. Taxes will rise by £40 billion, with employer national insurance contributions,…
Last minute rush for ISAs before the Budget
Amid fears of changes to tax-free ISAs in the upcoming Budget, Britons are rushing to maximise their savings in these accounts. Concerns stem from remarks by Rachel Reeves, who previously suggested a cap…
Treasury asking ministers to prepare huge infrastructure cuts
The Guardian reports that the Treasury has asked ministers to prepare for cuts of up to 10% in infrastructure spending, targeting projects such as hospital upgrades, road construction, and defence initiatives. Despite Chancellor…
Chancellor to raise taxes and cut spending in October?
Rachel Reeves is preparing to implement a tough October budget that includes tax increases, spending cuts, and stricter benefit policies. Despite stronger-than-expected economic growth in early 2024, she faces a significant budget deficit,…
Budget 2024: Jeremy Hunt cuts National Insurance again as election looms
In the 2024 Budget announcement, Chancellor Jeremy Hunt introduced tax cuts to bolster the Conservative Party's prospects. He reduced National Insurance by 2p, following an earlier cut in January. This move was labelled…
New tax on vapes announced in Budget to discourage non-smokers from adopting habit
The UK government plans to implement a new tax on vaping products starting October 2026, announced by Chancellor Jeremy Hunt during the Budget speech. This move aims to deter non-smokers from starting vaping…
