Chief Secretary to the Treasury Emma Reynolds faces criticism after distinguishing employers from “working people” in a GB News interview, reopening Labour’s tax pledge debate.
Charlotte Mercer · 3 min readMineworkers’ Pension Scheme trustees say a ready-to-sign deal to release approximately £1bn was withdrawn before the Budget, despite concessions on future surpluses.
Charlotte Mercer · 3 min readChancellor John Healey declines to guarantee that Labour will equalise adult minimum wage rates before the next election, as the April 2027 hourly gap remains £1.94.
Charlotte Mercer · 2 min readNew Economics Foundation analysis says another £7bn could be needed to scale up council and social housebuilding, despite more than £40bn already committed.
Charlotte Mercer · 3 min readThe Chancellor says rising welfare spending must be reduced, but Downing Street has confirmed there is no fixed deadline for bringing the overall bill down.
Staff member · 2 min readThe Treasury will reduce departmental capital budgets by a further £3 billion and use £1.7 billion from its reserve to close the outstanding Defence Investment Plan funding gap.
Staff member · 3 min readThe National Living Wage will rise by 3.9% to £13.21 an hour from April 2027, with increases also confirmed for younger workers and apprentices.
Staff member · 2 min readGovernment and Rolls-Royce announce a proposed £2.5bn, ten-year jet engine technology programme to support 3,300 jobs, with future funding subject to approvals.
James Ashcroft · 4 min readThe OBR forecasts UK growth of just 1% in 2027, with inflation set to peak at 3.8% and real household disposable income per person falling in 2026–27.
Charlotte Mercer · 3 min readThe Government will provide £100 million over two years from spring 2027 to lower the cost of local, lower-powered public EV charging, with estimated savings of £150 a year for affected drivers.
Staff member · 2 min readThe Government has increased its planned real-terms reduction in departmental administration budgets from 16% to 20% by 2029–30, targeting an extra £595 million in annual savings.
Charlotte Mercer · 2 min readBudget 2026 confirms plans to adjust State Pension uprating from April 2030, with long-term savings intended to help fund a National Care Service in England.
Charlotte Mercer · 3 min readThe Government sold £4.5 billion of gilts at an average yield of 5.036%, the highest for a comparable five-year auction since 2008, despite strong investor demand.
Charlotte Mercer · 2 min readThe Government has announced £15 million over three years for a new misogyny prevention fund, with additional private funding sought and grants to be awarded through a bidding process.
Staff member · 2 min readBritain sold £4.5 billion of government bonds at an average yield of 5.036%, the highest for comparable five-year borrowing since 2008, ahead of Wednesday’s Budget.
Charlotte Mercer · 2 min readShop price inflation rose to 2.1% in October, the fastest rate since February 2024, as retailers urged the Chancellor to address business costs ahead of the Budget.
Staff member · 2 min readAndy Burnham says Wednesday’s Budget will outline a path to NATO’s 3.5% core defence spending target by 2035, but detailed funding has yet to be published.
Staff member · 2 min readNew Center for Global Development research projects a £412 million gap between planned UK overseas aid spending and the Government’s 0.3% of GNI target for 2027.
Staff member · 3 min readReports suggest the Chancellor will announce a targeted £13,036 tax-free allowance for low-income pensioners, but details are not yet confirmed.
Charlotte Mercer · 2 min readThe Chancellor is expected to outline upgrades to 600 Post Office branches in Wednesday’s Budget, although the 600-branch target already appears in the Post Office’s published strategy.
Charlotte Mercer · 2 min readThe Government has announced an additional £432 million for rough sleeping support in England, taking the programme to £874 million as the Prime Minister pledges a route off the streets or support for everyone before Christmas.
Staff member · 2 min readThe Treasury says Wednesday’s Budget will provide more than £1 billion for social and affordable housing in England, taking the ten-year programme above £40 billion.
Charlotte Mercer · 2 min readAlex Depledge says she will leave her Treasury advisory role after Wednesday’s Budget, criticising what she sees as insufficient attention to British scale-ups and innovative businesses.
Staff member · 2 min readThe Treasury plans a £1.5bn borrowing facility for English mayors from 2028, alongside £285m in Good Growth funding and £150m to build regional authorities’ capacity.
Staff member · 2 min readRobert Jenrick says Reform UK could cut £40 billion in its first year to finance tax reductions, including a £15,000 income tax personal allowance. The proposals are opposition plans, not government policy.
Charlotte Mercer · 2 min readThe Treasury has confirmed plans to provide £20.4 billion in additional capital to the National Wealth Fund and British Business Bank over roughly five years, ahead of the Budget.
Charlotte Mercer · 2 min readFormer Goldman Sachs International co-chief executive Michael Sherwood has confirmed moving to Jersey and becoming tax-resident there, prompting criticism of government tax policy from the Conservatives.
Charlotte Mercer · 2 min readThe Treasury has announced roughly £600 million of AI investment, including a £100 million biosecurity laboratory, cyber-defence programmes and additional funding for the AI Security Institute.
Staff member · 2 min readMinisters say regulatory reforms and extended tariff suspensions could save British businesses almost £800 million a year, with changes to company reporting and small-business paperwork.
James Ashcroft · 2 min readRavinder Athwal, the economist closely involved in writing Labour's 2024 manifesto, is joining Chancellor John Healey's Treasury team as a senior special adviser amid continuing speculation over an early General Election.
Charlotte Mercer · 3 min read