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The Latest Breaking News from Rachel Reeves

Economists warn Treasury is likely to raise taxes even further this year

Almost 100 experts expect a low rate of economic growth this year

The Independent UK

People should be protected from catastrophic costs of upfront care – Streeting

The Health Secretary said ‘we’re determined to grip the crisis in social care’.

The Independent UK

Tax and pay hikes to see UK firms pay £2,300 more per low-wage worker in 2025

Tax burden set to hit new record high, analysis suggests

The Independent UK

From analysis to the latest developments in health,
read the most diverse news in one place.

Tax and pay hikes to see firms pay £2,300 more per low-wage worker this year

It will cost an extra £2,367 to employ someone over 21 earning the minimum wage this year, analysis by the Centre for Policy Studies showed.

The Independent UK

Labour’s economic agenda has all the right ideas – but it’s a race against time to make it work

This government needs to reverse at least three decades of financial woes, and it needs to show progress before its plan gets Trumped, writes economist Michael Jacobs

The Guardian - UK

OPINION - Have Labour crashed and burned already?

Disastrous policies fraught with unintended consequences, a wrecking ball budget and a total alienation of voters have got Labour off to a woefully bad start

Evening Standard

UK factory output falls at fastest rate since February amid tax rise fears

Pound drops to nine-month low against dollar after PMI for December signals further contraction in manufacturing

The Guardian - UK

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At best, 2025 will be a year of slow economic recovery. As for the worst? Brace yourselves

With threats of recession, global fracturing and increasingly angry voters, Labour’s sticky start is unlikely to get any easier, says Guardian columnist Larry Elliott

The Guardian - UK

In Pictures: Rain-soaked Rishi and wide-eyed Wes in year’s best political images

The PA news agency’s photographers provided unrivalled coverage of the world of politics this year as these first rate images show.

Evening Standard

Starmer: 2025 a chance to rediscover the great nation that we are

The Prime Minister has delivered his first new year’s message since entering Downing Street.

Evening Standard

Pupils will ‘pay price’ for new tax on private school fees, Tories warn Reeves

The long-standing VAT exemption for private schools ends on New Year’s Day.

Evening Standard

The Guardian view on City deregulation: it would be a dangerous step backward

Editorial: Relaxing financial rules risks undermining stability, ignoring post-crash lessons and prioritising short-term gains over the long-term health of the economy

The Guardian - UK

Starmer under pressure to deliver in 2025 as Labour tested by local elections

The Prime Minister ran on a platform of economic growth during the general election and has said he wants people to feel better off.

The Independent UK

Finance bosses ‘optimistic’ about Labour plans to cut red tape, survey finds

Polling by KPMG found more than half of the finance industry plans to ramp up hiring in early 2025.

Evening Standard

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The Guardian - UK

People have been saving more, thanks to pay growth and cooling inflation, but they need to feel the benefits

While Labour’s critics are circling, pay growth is resilient and inflation is cooling

The Guardian - UK

With a new year ahead there’s no better time for Keir Starmer to start playing good cop

The prime minister should resolve in 2025 to enthuse about his vision, and leave moaning about the Tories and fiscal hardship to his chancellor

The Guardian - UK

Murdoch, Musk, water firms … Here are the ‘winners’ in another torrid year for business

As 2025 dawns, we look back at the star players over the last 12 months of economic drama, mishap and scandal

The Guardian - UK

The Observer view on the UK economy: don’t despair, signs of growth are emerging

There are hazards ahead, but Rachel Reeves’s big calls in the budget have left the country better placed than the dominant narrative suggests

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The Independent UK

Voices: Rachel Reeves is relying on a risky strategy – that may well backfire

COMMENT: The chancellor’s approach can hardly be considered prudent – especially when it depends so heavily on economic growth, writes John Rentoul

The Independent UK

Starmer throws down gauntlet to watchdogs to cut red tape and help kickstart economy

Critics accused the prime minister of chasing a ‘regulatory race to the bottom’ and urged him to pursue closer ties with Europe instead

The Guardian - UK

Trump versus trade: the global economic outlook for 2025 in five charts

Unpredictable change will sweep through America, while old problems, from war to inflation, are likely to afflict other countries

The Independent UK

2024: The year in review

The year has not been short of dramatic events and developments, and here the PA news agency provides a month by month look back on 2024.

The Guardian - UK

Nearly two-thirds of working private renters in England struggle to pay rent

Exclusive: Shelter poll shows housing crisis is causing hardship even for those with jobs

The Guardian - UK

Living standards 2025 outlook ‘hardly cause for celebration’, says UK thinktank

Household incomes to stagnate or fall but will be offset by better public services, says Resolution Foundation

The Independent UK

Rachel Reeves spending review ‘set to be next big challenge’ for government as growth flatlines

Rachel Reeves has ordered a line-by-line review of spending, with departments ordered to find savings of 5 per cent of their budgets

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