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Charlie Bean says slim margin of £10bn means chancellor ‘has to neurotically fine-tune taxes to control OBR forecast’Business live – latest updatesThe former Bank of England deputy governor Charlie Bean has urged Rachel Reeves to create much wider head…
While the chancellor may have lost credibility among restive MPs, market moves suggest investors support herWhere does the climbdown leave the public finances?It was Bill Clinton’s political adviser James Carville, way back in the 1990s, who said that …
Critics warn the staggering sum dedicated to the agency in the bill will threaten humanitarian protections and disrupt the economyThousands of new immigration enforcement officers. Tens of thousands of new detention beds. New fees on asylum application…
Welfare bill climbdown fuels biggest one-day hike in government borrowing costs since Liz Truss mini-budget debacleUK government borrowing costs have risen sharply amid speculation over Rachel Reeves’s position as chancellor, as City investors warned L…
With £6.25bn in planned savings now shelved, the government faces awkward choices on how to plug gapWelfare bill climbdown will have ‘a cost’ at budget, says senior ministerReeves will stay as chancellor, says No 10 after her tears in CommonsKeir Starm…
Government’s concessions over welfare cuts leave chancellor with a growing hole in her budgetRachel Reeves is expected to extend a freeze on income tax thresholds to raise fresh funds after the government’s U-turn on welfare cuts left her with a growin…
May figure second highest for month on record amid fears chancellor is struggling to keep within spending rulesBusiness live – latest updatesHigher tax receipts were unable to prevent a rise in public sector borrowing in May to £17.7bn, up from £17bn a…
Lower interest rates will be a lever for growth but the Middle East conflict and rising food prices will have troubled MPCBank of England keeps interest rates on holdBank of England warns of ‘elevated’ global uncertainty after leaving interest rates on…
Rachel Reeves is increasing overall budgets after deep Tory cuts, but some departments face bigger spending cuts than othersRachel Reeves usually avoids any mention of the word “austerity” in connection with her fiscal policies, but on Wednesday, she d…
Blistering analysis by outgoing chief concludes chancellor likely to end up ‘gnat’s whisker’ away from tax risesYou can only conclude that Paul Johnson is demob-happy. The director of the Institute for Fiscal Studies is off to run an Oxford college in …