Category: Budget deficit

Boring or bust: Reeves aims to project calm competence in spring budget

After 18 months of policy U-turns and political turmoil we are told not to expect any last-minute policy rabbitsPoliticians tend to hate being boring but Rachel Reeves will be delighted if Tuesday’s spring forecast is...

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UK government borrowing falls to £11.6bn in December

Official figures better than expected after stronger receipts than a year earlierBusiness live – latest updatesThe UK government borrowed less than expected in December, official figures show, after stronger receipts than...

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No 10 dismisses claim that OBR revelations show Reeves misled public about need for tax rises in budget – UK politics live

Downing Street brushes off claims that the chancellor misled voters about the state of the public finances ahead of the budgetThe Office for Budget Responsibility has said that Rachel Reeves, the chancellor, was not at risk of...

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Rachel Reeves targets UK’s wealthiest in £26bn tax-raising budget

Chancellor axes two-child benefit cap and cuts energy bills paid for by mansion tax and freezing tax thresholds Analysis: ‘Tax-raising budget crash-lands on struggling economy’Budget 2025: key points at a...

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Rachel Reeves says budget will cut living costs after shock OBR leak

Chancellor unveils action on energy bills, rail fares and end of two-child benefit cap as OBR reveals £26bn tax rises before budget speechBudget 2025 – follow liveHow freezing tax thresholds affects your tax...

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UK government borrows more than expected in setback before budget

October figures represent final snapshot of public finances before Rachel Reeves’s tax and spending statementBusiness live – latest updatesThe UK government borrowed more than expected in October, official figures...

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Rachel Reeves plans £7.5bn tax rise in budget after U-turn on income tax rates

Chancellor expected to freeze level at which people start paying income tax for two years rather than putting rates upRachel Reeves will raise £7.5bn from millions of workers by freezing tax thresholds at the budget, after...

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Tax rises and drop in investment predicted to limit UK growth

EY Item Club downgrades forecast for next year, with Office for Budget Responsibility expected to follow suitThe prospect of looming tax rises and a fall in business investment will restrict the UK’s economic growth rate...

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Pound sinks against euro and dollar as tax rises loom and growth slows

Prospect of a tough budget is thought to have brought forward the likely date for a cut in interest rates to 3.75%The threat of higher taxes in next month’s budget and concerns about slowing economic growth pushed the...

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Rachel Reeves should consider welfare cuts in budget, IFS says

Thinktank urges chancellor to take ‘bold’ action on benefits and pensions to placate jittery financial marketsBritain’s leading tax and spending experts have urged Rachel Reeves to consider announcing billions...

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