Category: Budget deficit

Treasury warns of difficult decisions in budget after September borrowing rise

ONS data shows higher debt interest payments and pay awards for public sector workers pushed figure to £16.6bnBusiness live – latest news updatesThe Treasury has said it will need to take difficult decisions in next...

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No 10 tells aggrieved ministers to make their departments more cost-efficient

Warning comes after three cabinet members complain to Starmer about chancellor’s proposed budget cutsUK politics live – latest updatesDowning Street has warned ministers to make their departments more productive...

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Shares in UK gambling firms fall £2bn amid talk of higher taxes in budget

Thinktank reports saying sector should be hit with extra £900m to £3bn in levies prompt market selloffBusiness live – latest updatesShares in British gambling companies have dropped sharply, reducing the stock...

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Labour warned £22bn shortfall will last years without higher taxes or cuts

Resolution Foundation says overspend chancellor claims she inherited will persist unless tough choices are madeReeves spends first 100 days in power trying to ride two horsesLabour weighs £3bn tax rise on gambling...

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Labour needs £25bn a year in tax rises to rebuild public services, warns IFS

Thinktank says tax increases in budget will be necessary even if Rachel Reeves changes fiscal rulesWill Rachel Reeves’s rules on debt and spending survive the budget?Keir Starmer’s promise to end austerity and...

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Jet fuel tax could raise £6bn a year in the UK, says thinktank

Experts say ‘baffling’ lack of equivalent to fuel duty means motorists are more strongly taxed than private jet ownersCampaigners have urged the chancellor to start taxing jet fuel – with a report showing that...

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Labour urged to place trade union members on wealth fund board

Exclusive: Campaigners claim move would offset City influence over infrastructure taskforce and better share benefitsThe government is being urged to install trade union members on the board of its new £7.3bn national...

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UK government borrowing hits higher than expected £3.1bn in July

Figures come amid row between Labour and Conservatives over true state of public financesBusiness live – latest updatesStrong spending on public services and welfare pushed government borrowing to £3.1bn last month,...

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