UK economy: encouraging forecast by IMF
The IMF has forecast that the UK will be the second-fastest-growing economy among the G7 nations this year - behind only the USA - despite ongoing global trade tensions. The IMF projects UK…
Reeves set to lift two-child benefit cap in budget?
Rachel Reeves is expected to announce changes to the two-child benefit cap in November’s Budget, amid growing pressure to scrap the policy introduced by George Osborne under Conservative austerity measures. The cap currently…
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,…
