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…
The British finance minister’s plans to visit China next month may be the latest signal that the Labour Party wants to take a pragmatic approach that balances economic ties with concerns over security and human rights, analysts have said. One said it may also be a way of “testing the waters” about whether this approach…
LONDON, UNITED KINGDOM – NOVEMBER 29, 2024: Disabled people and their supporters gather outside … [+] Houses of Parliament to demonstrate their opposition to assisted dying as Kim Leadbeater MP’s Terminally Ill Adults (End of Life) Bill reaches its Second Reading debate and vote in the House of Commons in London, United Kingdom on November…
Times journalist Tom Ball and the Daily Mail’s Dan Woodland also found themselves on the list, alongside a string of entrepreneurs. In a lengthy statement, the Russian foreign ministry said it had been “once again forced to draw attention to the incessant aggressive anti-Russian rhetoric of the British authorities,” as well as to “the illegitimate…