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UK public finances

  • Thursday, 21 November, 2024
    UK government borrowing for October exceeds forecasts at £17.4bn

    Data highlights challenges facing chancellor Rachel Reeves

    Rachel Reeves during her Mansion House speech
  • Wednesday, 6 November, 2024
    UK tax
    Reeves insists she will not be ‘coming back with more tax increases’

    UK chancellor describes last week’s £40bn tax-raising Budget as a ‘one-off reset’ and one ‘we will never need . . . again’

  • Tuesday, 5 November, 2024
    UK government spending
    UK Treasury breached legal duty by failing to reveal overspend, says watchdog

    OBR chair says relationship with finance ministry moving to ‘system of trust but verify’

    The Treasury building
  • Tuesday, 5 November, 2024
    The UK gets it wrong again on fiscal rules

    You’re a little much for me, public sector net financial liabilities

  • Saturday, 2 November, 2024
    UK Autumn Budget 2024
    Rachel Reeves loosens UK welfare spending target

    Ceiling rises 20% over 5-year period to £200bn to avoid ‘having to take short-term decisions’

    Two customers ride mobility scooters through the rain on a pavement
  • Friday, 1 November, 2024
    UK Autumn Budget 2024
    Budget poses new challenge for UK public finances, Moody’s warns

    Assessment from rating agency comes as gilts steady after sell-off sparked by scale of extra borrowing

    Rachel Reeves is seated at her desk in No 11 Downing Street, preparing for the Autumn Budget 2024. She wears a dark suit with a poppy pin and is writing on documents. A red briefcase is visible on the windowsill behind her. A portrait of Ellen Wilkinson hangs on the wall.
  • Thursday, 31 October, 2024
    UK Autumn Budget 2024
    National insurance rise set to hit lower-paid UK jobs hardest

    Findings of IFS think-tank come as Reeves acknowledges policies could dampen pay growth

    Rachel Reeves walks outside 11 Downing Street in London holding the red Budget Box. Photographers and a police officer are visible in the background
  • Wednesday, 30 October, 2024
    News in-depthUK Autumn Budget 2024
    Rachel Reeves’ first Budget leaves key economic challenges unresolved

    OBR says announcements amount to one of the biggest fiscal loosenings of recent decades

    composite image of Racel Reeves against a detauls of a chart background
  • Wednesday, 30 October, 2024
    UK Autumn Budget 2024
    The Budget in brief: what you need to know

    A quick guide to the UK chancellor’s main policy announcements and official economic forecasts

    Chancellor of the Exchequer Rachel Reeves delivering her Budget to the House of Commons, London.
  • Wednesday, 30 October, 2024
    The FT ViewThe editorial board
    Britain’s Labour Budget: bold ambition, uncertain prospects

    Rachel Reeves must now deliver on her investment plans, or taxes will rise even further

    Chancellor of the Exchequer Rachel Reeves sits on a sofa.
  • Wednesday, 30 October, 2024
    UK Autumn Budget 2024
    Business and wealthy bear brunt of £40bn tax increases in UK Budget

    Markets unsettled by extent of government borrowing as Rachel Reeves boosts spending

    Rachel Reeves leaves 11 Downing Street in London on Wednesday before delivering the Budget in parliament. She is wearing a red poppy on her lapel and carrying a red box, while a police officer stands in the background inside the doorway
  • Wednesday, 30 October, 2024
    Martin Wolf
    Reeves has made her choice — but success is not guaranteed

    The British people will hope that higher spending delivers the better services they want

    James Ferguson illustration of the chancellor holding the Budget red box, which at its centre has a tunnel with a light at the end of it
  • Wednesday, 30 October, 2024
    UK Autumn Budget 2024
    Treasury failed to disclose ‘material’ spending pressures under Hunt, says OBR

    Watchdog says it cannot tell how big ‘black hole’ inherited by Rachel Reeves would have been with full transparency

    Treasury on Whitehall
  • Tuesday, 29 October, 2024
    ExplainerUK Autumn Budget 2024
    What to expect in Rachel Reeves’ first Budget

    Chancellor is due to unveil tax and spend measures, but she may struggle to boost growth quickly

    Montage shows Rachel Reeves against a Union Jack backdrop with a City skyline
  • Sunday, 27 October, 2024
    The FT ViewThe editorial board
    Three tests for Britain’s Budget

    Reeves must stabilise the economy, and pave the way for higher growth

    Rachel Reeves
  • Thursday, 24 October, 2024
    UK government spending
    Reeves confirms change to UK fiscal rules to help fund £20bn of annual investment

    Chancellor promises in FT to avoid ‘falls in public sector investment’ planned by Tories

    Rachel Reeves in Washington
  • Thursday, 24 October, 2024
    Gilts
    Rachel Reeves’ new rules

    She learned this one simple trick… hopefully bond markets don’t HATE her

  • Tuesday, 22 October, 2024
    UK public borrowing exceeds official forecast in September

    Data comes as chancellor Rachel Reeves prepares to raise taxes in next week’s Budget

    The HM Treasury building and UK sterling notes
  • Friday, 18 October, 2024
    Chris Giles
    A ‘full fat’ Budget is impossible — what are the trade-offs?

    Traditional Labour measures on tax and borrowing will need to be balanced with thinner fare to keep to fiscal constraints

    Jonathan McHugh illustration of the Budget red box surrounded by glass bottles of mil, some full, some half empty and some spilt.
  • Thursday, 17 October, 2024
    UK Autumn Budget 2024
    UK ministers seek to reassure bond investors on their borrowing plans

    Treasury chief secretary Darren Jones sets out ‘guardrails’ for investment

    Chief Secretary to the Treasury Darren Jones
  • Tuesday, 15 October, 2024
    Visual story
    The Budget Game: Can you run the UK economy?

    Step into the chancellor’s shoes and devise your fiscal plan

  • Wednesday, 9 October, 2024
    UK Autumn Budget 2024
    Reeves must convince on growth to keep bond investors on side

    IFS says any increased spending in the Budget must deliver economic expansion

    Rachel Reeves, UK chancellor of the exchequer
  • Wednesday, 9 October, 2024
    ExplainerUK Autumn Budget 2024
    Why Reeves is ‘walking a tightrope’ ahead of the Budget

    UK chancellor will submit proposals to independent watchdog on Wednesday

    Montage shows Rachel Reeves against a backdrop of pound notes in Labour red
  • Tuesday, 8 October, 2024
    Gilts
    UK borrowing costs climb as Reeves walks ‘tightrope’ over spending plans

    Gap between yields on gilts and German bonds has reached widest in more than a year ahead of Budget

    Montage of chart, Bank of England building and Rachel Reeves
  • Sunday, 6 October, 2024
    The FT ViewThe editorial board
    Britain’s debt rule is not fit for purpose

    The chancellor should begin moving the country to a more dynamic fiscal framework

    Rachel Reeves
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