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ONS confirms GDP growth at 0.7% between January and March but households saving less of disposable incomeBusiness live – latest updatesUK households faced a renewed cost of living squeeze in the first three months of 2025 amid increases in taxes and in…
A culture of arrogance made Keir Starmer’s climbdown inevitable, according to some of his own MPsThe Conservative shadow cabinet minister looked more cheerful than at any point in the 12 months since the general election. “How did they get into such a …
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…
Changes to welfare bill likely to win over moderates, but PM’s reputation for embracing tough reforms damagedUK politics live – latest updatesAfter his third U-turn this month, Keir Starmer will hope he has done enough to avoid a humiliating first Comm…
Liberal Democrats say Conservative leader focused on ‘cheap point scoring’ and her MPs are in ‘open revolt’In his final answer Starmer explained how he thought government and business should work together.A true partnership is not two people or two bod…
Andrew Bailey says OBR projections – which the chancellor uses to calculate headroom – shouldn’t be ‘over-interpreted’The Bank of England governor, Andrew Bailey, has waded into the controversy over Rachel Reeves’s fiscal rules with a warning against “…
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…
Government accused of making ‘secret exchange deal’ with fossil fuel companies to compensate for tax hikeThe chancellor, Rachel Reeves, told a fossil fuel company the industry would receive a “quid pro quo” in return for higher taxes on its windfall pr…
Annual rate slows in May from 3.5% in April despite record increase in chocolate pricesBusiness live – latest updatesInflation in the UK eased slightly to 3.4% last month as a steep fall in air fares and petrol prices was offset by a jump in the cost o…
Sources say party should have focused on the moral case for reforming the benefits systemUK politics live – latest updatesGovernment officials have admitted they made a mistake by making the financial case for cutting benefits as they steel themselves …