The Latest Breaking News from Rachel Reeves

Editorial: Labour’s pivot to welfare cuts and targeting of rightwing voters has backfired. If the party leadership won’t adapt, the public will move on

The U-turn is a long and, depending on your point of view, honourable or dishonourable tradition in British politics. Now Keir Starmer has been accused of following this tradition after heavily hinting the UK government is reconsidering last year’s decision to deny the winter fuel allowance to millions of pensioners.

G7 finance leaders played down their differences Thursday, despite turmoil from US President Donald Trump's wide-ranging tariffs, and sought common ground on Ukraine as talks in Canada entered the final hours.

COMMENT: The markets now expect only one more cut over the next year – and lenders are likely to react by raising their prices, writes James Moore

The Office for National Statistics said public sector net borrowing rose to £20.2 billion, its fourth-highest April figure on record.

The leak appears to be the latest in a briefing campaign against the deputy prime minister, who has pushed back on Labour’s economic policies

As pressure grows on chancellor to rethink constraints she imposed on herself, No 10 adds to her problems

The latest figure showed that the Chancellor had to borrow more money than expected over the month

The Office for National Statistics said public sector net borrowing rose to its fourth-highest April figure on record.

April figure more than expected and comes despite increase in employer national insurance contributions

A statement to the Chancellor is signed by dozens within the sector including the Local Government Association, representing councils providing care.