The remarks come as the U.K. government pushes for a trade deal with the Trump administration to try and ease tariffs placed on the U.K. and other global economies last week. The U.S. imposed a baseline tariff of 10 percent on all U.K. imports, as well as a 25 percent tax on vehicles and steel…
The Labour Party is under increasing pressure as it heads into local elections and the Runcorn by-election on May 1, reported Daily Mail. Recent polls show a dramatic fall in popularity since Rachel Reeves’ Spring Statement, according to the report. Labour’s Falling Approval Rating The ‘More in Common’ poll showed Labour has lost three points…
Britain’s finance minister Rachel Reeves said she wanted the country to become a “defence industrial superpower” as she pumped an extra 2.2 billion pounds ($2.8 billion) into the sector in her budget update on Wednesday. Reflecting heightened geopolitical tension and U.S. President Donald Trump’s calls for Europe to do more to protect its own security,…
Britain’s finance minister Rachel Reeves is set to detail billions of pounds of spending cuts in her Spring Statement on Wednesday to address the country’s ailing public finances.The spending update comes as the Labour government, elected in July after a landslide election win, faces sluggish economic growth and rising borrowing costs.In a glimmer of good…
The United Kingdon will aim to slash the number of civil servants by 10,000 as it targets a 15% reduction in the government’s operating costs, Chancellor of the Exchequer Rachel Reeves said ahead of Wednesday’s key statement on the public finances. The Labour government will stick with its plan to lift real-term spending in every…
UK chancellor Rachel Reeves is set to deliver her spring statement next week with the expected announcement of £305bn of gross gilt issuance for 2025-26 following shortly after. The Debt Management Office (DMO) will publish the remit for 2025-26 gilt issuance once the chancellor finishes her statement to parliament around 1.30pm, which will be the…
Reform is set to take control of Doncaster, where Energy Security Ed Miliband is an MP, from Labour at the local elections in May, according to a recent poll. The poll, conducted by Electoral Calculus for The Telegraph, predicts that Reform will take control of eight councils in less than seven weeks’ time, with the Conservatives…
Asian markets shrugged off another decline on Wall Street last night, with markets in China gaining after state-run banks and other financial institutions were ordered to do more to help spur more consumer spending. The Hang Seng (^HSI) jumped more than 2% in Hong Kong and the Shanghai Composite (000001.SS) was 1.8% up by the…
The UK economy unexpectedly contracted by 0.1 per cent in January, delivering a blow to chancellor Rachel Reeves in advance of her high-stakes Spring Statement this month. Friday’s monthly GDP figure from the UK’s Office for National Statistics was below both the 0.1 per cent growth predicted by economists polled by Reuters and December’s 0.4…
UK chancellor Rachel Reeves has set herself a fiscal “trap” ahead of this month’s spring forecast statement, the Institute for Fiscal Studies (IFS) has warned. IFS research economists explained that Reeves has committed to holding one major fiscal event per year, which refers to the autumn budget. Meanwhile, the spring forecast statement — set to…