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The Latest Breaking News from Budget

Downing Street climbs down on Keir Starmer's claim shares owners are not ‘working people’ ahead of Budget

The Prime Minister had suggested asset owners would not fall within his conception of what a working person is

Evening Standard

No 10 climbs down on PM’s claim stocks and shares owners not ‘working people’

The Government has been asked repeatedly to define what a ‘working person’ is to establish which taxes could rise.

The Independent UK

What the papers say – October 25

A wide range of stories feature across Friday’s papers.

The Independent UK

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Key mineral importers to get more cash help at the Budget

Rachel Reeves is expected to use her Budget on October 30 to announce companies bringing critical minerals will get access to UK Export Finance.

Evening Standard

Consumer confidence falls again amid ‘despondent mood’ ahead of October Budget

Chancellor Rachel Reeves has repeatedly warned of ‘tough choices’ at upcoming spending review, hitting consumer sentiment.

Evening Standard

Reeves confirms change to debt rule and warns of higher taxes as Budget looms

Chancellor Rachel Reeves insisted her first Budget would pave the way for improved public services and ‘rebuild our economy’.

The Independent UK

Sadiq Khan slashes his minimum ask for transport funding ahead of Labour's Budget

The mayor insisted he will still be demanding ‘as much as I can get’ for TfL, but said the ‘black hole’ in the public finances had to be acknowledged

Evening Standard

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Government borrowing costs rise ahead of Reeves’ first Budget

Speculation that Rachel Reeves will change the way debt is assessed triggered a market reaction.

The Independent UK

If the Budget can increase the size of the economic pie then we will all be better off

A big feature of the Budget will be an increase in public investment, perhaps by around £18bn, paid for by a rise in public borrowing

Evening Standard

Chancellor Rachel Reeves hints at ‘challenging’ Budget in new video

Chancellor Rachel Reeves has hinted at a “challenging” Budget as she prepares to borrow tens of billions of pounds to invest in Britain’s crumbling infrastructure.

The Independent UK

Judge reduced to cleaning courthouse gutters amid justice funding crisis

Country’s most senior judge calls for ‘concrete steps’ from government to support the justice system

Evening Standard

British businesses grow at slowest rate in 11 months amid Budget uncertainty

Chancellor Rachel Reeves has struck a pessimistic tone around the Budget, warning of ‘tough decisions’.

Evening Standard

Report suggests Reeves could announce plans to change Britain’s debt rules

The Chancellor will be looking to raise up to £40 billion from tax hikes and spending cuts in order to avoid a return to austerity.

Evening Standard

'Utterly unsustainable': London councils spend £4million a day on housing homeless driving some to bankruptcy

Total average temporary accommodation bill for the capital’s councils was £114million each month in the year to April - a 68% rise

Evening Standard

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The Independent UK

Rachel Reeves to turn on spending taps with Budget boost for infrastructure and clean energy

The chancellor is planning to change the government’s fiscal rules to free up billions of pounds of borrowing, which she will promise to spend laying ‘the foundations of future growth’

Evening Standard

Reeves ‘WhatsApps’ Hunt and is in contact ‘regularly’ with Blair and Brown

The Chancellor added that she would love to be able to call up the late Alistair Darling – the last Labour chancellor to deliver a Budget.

The Independent UK

Majority of French think current election system does not work, poll says

Support for a democratic system falls as the new French government faces crucial test in hostile parliament

Evening Standard

Rayner and Dowden clash over prospect of Budget tax rises at ‘battle of gingers’

The two took centre stage at Prime Minister’s Questions because of Sir Keir Starmer’s visit to Samoa.

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The National (Scotland)

Anti-monarchy group to protest at Budget in call to slash royal funding

THE first Budget of the new Labour Government is set to face protests from anti-monarchy group Republic...

Evening Standard

Lloyds reveals stronger-than-expected profit as consumer confidence picks up

The banking giant reported a pre-tax profit of £1.8 billion between July and September.

The National (Scotland)

SNP demand ‘cast-iron guarantee’ on tax hikes ahead of Labour Budget

THE SNP have urged Keir Starmer to give a “cast-iron guarantee” that the National Insurance tax hike reportedly in the upcoming Budget will…

Evening Standard

Labour MP suggests spending money on BBC World Service instead of fighter jets

In the Commons, Peter Prinsley, the MP for Bury St Edmunds and Stowmarket, described the BBC as a ‘vital UK soft power’.

The Independent UK

Inheritance tax already up 10 per cent as Reeves looks to squeeze levy in Budget, official figures show

Chancellor warned that hiking the tax at next week’s Budget risks punishing middle-class homeowners

Evening Standard

Budget 2024: Boost for Labour Chancellor Rachel Reeves as IMF ramps up economic growth forecast for Britain

The leading economists increased their prediction for GDP growth in the UK in 2024 from 0.7 per cent to 1.1 per cent

The Independent UK

UK economy to grow faster than thought in pre-Budget boost for Reeves

Only Spain was given a bigger economic upgrade by the IMF, making the UK the biggest beneficiary for extra growth in the G7 – although the US’s new growth rate of 2.8 per cent is higher

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