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The Latest Breaking News from Ben Zaranko

Thursday briefing: The £40bn funding gap, £22bn ‘black hole’ and more tricky terms, explained

In today’s newsletter: Chancellor Rachel Reeves is painting a bleak picture ahead of the budget later this month. Here’s what all the jargon means

The Guardian - UK

UK recovery ‘will accelerate and force Bank to keep interest rates higher for longer’

Niesr forecasts raise doubts over chance of further cuts by Bank of England before end of year

The Guardian - UK

Rachel Reeves to unveil ‘broke Britain’ dossier as Jeremy Hunt hits back with tax ‘scam’ claim

Rachel Reeves is expected to tell parliament that Rishi Sunak’s party left a £20bn black hole in the public finances, including making ‘significant funding commitments’ this year with no idea how they would be paid for

The Independent UK

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Labour facing moment of truth over tax pledges, economists warn

Experts say 5.5% pay increase for public sector not ‘consistent’ with spending plans that rule out tax rises

The Guardian - UK

Red Sea crisis could shatter hopes of global economic recovery

World Bank warns of surging energy prices, slower growth and higher inflation as threat rises of disruption to world trade

The Guardian - UK

Treasury minister rules out tax cuts amid Tory warning over burden on Britons

Andrew Griffith defended the Government as experts said parliament will have presided over the biggest set of tax rises since the 1940s.

The Independent UK

Rishi Sunak set to preside over biggest tax-raising parliament on record, say experts

By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS

Evening Standard

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UK households face tax rise of £3,500 a year by next election, finds IFS

Thinktank says Tories have overseen the biggest increase in taxes during a parliament since records began in 1951

The Guardian - UK

Sunak set to preside over biggest set of tax rises since WWII, experts say

By the time of next general election, taxes will likely have risen to around 37% of national income

The Independent UK

Sunak set to preside over biggest tax-raising parliament on record, say experts

By the time of the next general election, taxes will likely have risen to around 37% of national income, according to analysis by the IFS.

The Independent UK

As the UK falls into a recession that could soon swallow Europe, this town offers clues on England's cost-of-living nightmare

Prices quietly surged in this small town in the United Kingdom. Then it became the epicentre of a cost-of-living crisis.

ABC News

The only course left for Sunak’s friendless government is to settle these strikes now

The Tories have even lost the support of their cheerleaders in the rightwing press, says Guardian columnist Polly Toynbee

The Guardian - UK

Why Rishi Sunak's claim a pay rise for every striker will cost you £1,000 is untrue

More than 5million public sector workers want a proper pay rise - and Rishi Sunak claims that will cost you an 'extra' £1,000 a year. So how true is his claim? Not very, say the experts

Daily Mirror

If it’s unions against these infantile ministers, I know who will win

The UK government’s amateur grandstanding will end in a humiliating climbdown, says Guardian columnist Polly Toynbee

The Guardian - UK

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The Independent UK

Kwarteng faces finding £60bn of public spending cuts, says IFS

The Institute for Fiscal Studies said efficiency savings and ‘trimming the fat’ will not be enough to get debt falling.

Wales Online

Chancellor's spending freeze means '£11bn of cuts' for schools and hospitals

A local government minister said there is 'fat to be trimmed' from local council budgets

The Independent UK

Schools and hospitals ‘must find £11bn of cuts’ after Kwarteng spending freeze

Local councils told there is ‘fat to be trimmed’ from their budgets – despite a decade of austerity

The Guardian - UK

Friday briefing: What to expect from Kwasi Kwarteng today

In today’s newsletter: The newly appointed chancellor will deliver his first ‘fiscal event’ in Parliament today – but will it make a difference?

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The Independent UK

Billions more set to be slashed from overseas aid projects, Save the Children warns

Exclusive: Government told to rethink decision to count costs of Ukraine refugees within shrunken budget to avoid ‘unimaginable consequences’

The Guardian - UK

Public services need another £44bn by 2025 to cope with inflation, says IFS

Severe cuts to services feared as rising costs absorb a big chunk of increased departmental spending

The Guardian - UK

Wednesday briefing: Defence secretary Ben Wallace goes on the warpath over military spending

In today’s newsletter: As Boris Johnson, armed forces leaders and Wallace give mixed signals on military spending plans, Archie Bland tries to make the numbers add up

People

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