Category: Government borrowing

UK’s borrowing costs rise as Reeves’s budget prompts fears of slower interest rate cuts

Markets conclude higher level of public spending could lead to higher inflation, making cuts in Bank of England rate less likelyBusiness live – latest updatesUK government borrowing costs have risen to their highest level...

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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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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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Tories shocked at Cleverly exit while Labour MP says Badenoch-Jenrick contest is a ‘gift’ – UK politics live

Audible gasps as apparent frontrunner is eliminated while political rivals are gleefulBookmakers have cut the odds on Kemi Badenoch becoming next Tory leader because there has been a surge of money going her way in the last 24...

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Badenoch favourite to win Tory leadership in members’ vote against Jenrick – UK politics live

Apparent frontrunner James Cleverly is eliminated in surprise result of MPs’ voteBookmakers have cut the odds on Kemi Badenoch becoming next Tory leader because there has been a surge of money going her way in the last 24...

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James Cleverly knocked out of Tory leadership race in shock result – UK politics live

Apparent frontrunner is eliminated and party members will now choose between Kemi Badenoch and Robert JenrickBookmakers have cut the odds on Kemi Badenoch becoming next Tory leader because there has been a surge of money going...

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Lack of ICU capacity was ‘political choice’, Chris Whitty tells Covid inquiry – UK politics live

Chief medical officer tells Covid inquiry that UK had ‘very low’ capacity compared with other wealthy countriesElon Musk has responded to a post on X highlighting the BBC story about the government not inviting him...

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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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UK debt projected to almost triple over next 50 years, watchdog warns

Public finances under pressure from ageing population, climate crisis and security risks, OBR report saysBusiness live – latest updatesThe UK’s debt mountain will almost triple to more than 270% of national income...

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