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The Latest Breaking News from Rachel Reeves

Betfred says gambling tax rise in budget will force it to shut all its UK shops

Levies thought to be under consideration will kill profits, say bosses, as gambling firms ramp up lobbying efforts

The Guardian - UK

Scottish hospitality coalition urges chancellor to protect whisky industry

Exclusive: letter to Rachel Reeves from drinks, tourism and farming bodies calls for freeze on spirits duty in budget

The Guardian - UK

Betfred says it could be forced to close all its shops in face of gambling tax hikes

Betfred’s CEO said the odds of closing up shop are ‘10 to one against’ on high streets across the UK and Ireland

Evening Standard

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Cheat the Week: Reeves admits she’s mulling tax rises and spending cuts

This week’s biggest news stories in review, and how the media has covered them

Evening Standard

Brexit impact on UK economy will be negative for foreseeable future, Bailey warns

The Bank of England governor, speaking at the G30 International Banking Seminar, highlighted a decline in the UK’s potential growth rate.

The Independent UK

Ed Miliband needs a plan for industry – without it, the move to net zero could ruin UK manufacturing

Manufacturing is buckling under sky-high energy bills. Time to closely regulate price-gouging gas plants or take ownership of supply

The Guardian - UK

Unions warn Reeves they could abandon Labour if she ‘panders to the right’ with more welfare cuts

Exclusive: FBU general secretary Steve Wright has warned that there is growing pressure on unions to disaffiliate from Labour ending political donations

The Independent UK

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Government spends £115,000 on ‘influencer marketing’ in less than a year

Minister said cash supported ‘multiple campaigns’, but Tories say it ‘makes a mockery’ of spending pledges

The Independent UK

New £700m addition to London Overground 'would be renamed to reflect area's culture and history'

Sadiq Khan confirms that his rebranding of the Overground — dubbed ‘virtue-signalling nonsense’ by critics — would be extended to the West London Orbital

Evening Standard

Business news in brief: Inflation and borrowing figures on the horizon

The Big Shorts: Latest business news in brief and next week in The City

Evening Standard

Chancellor says she ‘can’t leave welfare untouched’ this parliament as budget looms

Rachel Reeves understood to be eyeing cuts to Motability scheme as she tries to plug hole in country’s finances

The Guardian - UK

Reeves: Welfare cannot be left ‘untouched’ in Budget

An attempt to push through cuts to benefits earlier this year led to an embarrassing last-minute U-turn for the Government.

Evening Standard

‘A foot out in the cold’: leaders huddle at IMF as icy economic winds blow

Worries over private credit, tax and spend, skittish bond markets and tariff chaos dominate meeting in Washington

The Guardian - UK

Rachel Reeves plots £1bn cut to Motability scheme which lets disability claimants access cars

The scheme provides cars and tax breaks to more than 800,000 users

The Independent UK

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The Guardian - UK

UK government borrowing costs fall to lowest level since July

Boost for Rachel Reeves as bond yield falls while she considers tax rises and spending cuts in budget

The Independent UK

Ferrari reduces number of cars sold to the UK after non-dom tax change

Luxury carmaker executive says ‘people are getting out of that country for tax reasons’

The Guardian - UK

Ferrari cuts number of cars it sends to UK after non-dom tax status scrapped

Carmaker says reasons for reduction include that some wealthy people ‘are getting out of the country’

The Guardian - UK

Friday briefing: Is Black British history finally being remembered?

In today’s newsletter: Black History Month was first celebrated in the UK in 1987 – but the learning of moments in Britain’s own civil rights struggle has been a long time coming

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Benzinga

UK Finance Minister Seeks More Pharma Investment In Exchange For Higher Drug Prices: Report

UK finance minister Rachel Reeves said the country expects increased investment from pharmaceutical companies if it agrees to raise drug prices as part of ongoing trade talks.

Evening Standard

FTSE 100 closes higher despite sluggish economic growth

The tepid progress for the economy recently could prompt the Office for Budget Responsibility to downgrade its economic assessment.

The Independent UK

Voices: ‘Fantasy economics’: Readers warn of housing chaos if stamp duty is scrapped

YOUR VIEWS: Our community is divided over Kemi Badenoch’s pledge to scrap stamp duty, with one warning it would ‘do absolutely nothing for renters or those already priced out’

Evening Standard

Labour tax pledge stands, says No 10, as Reeves rolls pitch for hikes on wealthy

The Chancellor has acknowledged she is looking at potential tax rises and spending cuts at her November 26 Budget.

The Guardian - UK

Rachel Reeves says those with broadest shoulders should pay fair share of tax

Chancellor adds she wants to ‘get the balance right’ and not deter wealthy people from making the UK their home

Evening Standard

Proposed changes to business rates ‘risk slowdown’ in investment, warns BT

BT’s finance chief said expected changes at next month’s Budget could cost infrastructure firms an extra £400 million each year.

Evening Standard

Number of children in temporary accommodation almost double Wembley capacity

Campaigners are calling on Chancellor Rachel Reeves to unfreeze housing benefit in the Budget.

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