Tag: reeves
Reeves vows action on growth amid rising debt costs
Chancellor Rachel Reeves has pledged to go “further and faster” to improve economic growth after market turbulence saw the cost of servicing UK debt rise. The last few days have seen pressures on the public finances increase, after government borrowing costs hit their highest level for several years. Conservative shadow chancellor Mel Stride called it…
Starmer has ‘full confidence’ in Reeves as pound falls
Prime Minister Sir Keir Starmer has said he has “full confidence” in Chancellor Rachel Reeves as she faces criticism over the falling pound and rising government borrowing costs. The pound fell to $1.21 on Monday, its lowest level since November 2023, while one measure of the rate at which the government can borrow money hit…
Reeves’ drive for growth seeks China lifeline after UK market turmoil
Chancellor’s mission to Beijing weighted with greater expectations Rachel Reeves hailed a new era of “respectful and consistent future relations with China” as pressure grew on the embattled chancellor to deliver on her government’s central promise to fire up UK economic growth. After meeting China’s vice-premier, He Lifeng, in Beijing, Reeves said Britain’s relationship with…
Labour MPs urge Rachel Reeves to demand Jimmy Lai’s release
UK chancellor will be first to make an official visit to China in a decade Labour MPs have urged Rachel Reeves to demand Jimmy Lai’s release when she becomes the first UK chancellor to make an official visit to China in nearly a decade. Nine Labour MPs have joined a cross-party call for Reeves to…
Reeves pledges to ‘make UK better off’ on China visit
Making working people in Britain better off will be at the “forefront” of the chancellor’s mind during her visit to China, the Treasury has said, following criticism of the trip amid trouble on the financial markets at home. Rachel Reeves will meet her opposite number in Beijing this weekend to explore trade and investment opportunities…
Faisal Islam: Mortgage rates are not rising yet but Reeves has to act
It has not been a good week for Chancellor Rachel Reeves. Government borrowing costs have hit their highest level in 16 years and the pound has fallen to a 14-month low against the dollar. She has gone on a planned trip to China amid accusations from opposition parties that she is leaving at a moment…
Reeves heads to China as pressure continues over market trouble
The Chancellor Rachel Reeves is travelling to China in a bid to boost trade and economic ties, as she faces pressure over government borrowing costs hitting their highest level in years. The three day-visit has been criticised by some Conservatives who claim she should have cancelled the trip to prioritise dealing with economic issues at…
Cuts, tax rises and doing nothing: Rachel Reeves’ options to tackle economic woe
Labour’s fiscal rules may limit the chancellor’s ability to act, but waiting it out may be the best option The UK government has come under pressure from a bond market sell-off and the tumbling pound, heaping pressure on the chancellor, Rachel Reeves, to reassure investors about Britain’s economic and financial position. After a challenging first…
Reeves mulls deeper cuts to public services as borrowing costs soar
Chancellor could slash departmental spending in spring after ruling out tax increase, officials reveal Rachel Reeves is considering imposing steeper cuts to public services to repair the government’s finances after a bruising week in which investors drove up the cost of UK borrowing and pushed the pound to a 14-month low. Government officials have told…
Rachel Reeves heads to China to build bridges, but a new golden era of relations is impossible
Seeking business partners post-Brexit is sound policy, but even in these darker geopolitical times the UK will ultimately side with the US Rachel Reeves will fly with a delegation of City grandees to China this week as Labour seeks closer economic links with Beijing as part of its quest for growth. With the outlook increasingly…
The Papers: ‘Apocalypse’ LA and ‘Reeves faces extra tax rises’
The i is one of several newspapers analysing the growing financial pressures facing the chancellor. A panel of experts tell the paper there is a “toxic combination” of flatlining growth, soaring debt charges and geopolitical tensions that could wreck her Budget plans. Ben Zaranko from the Institute of Fiscal Studies (IFS) calls it a “generational…
Faisal Islam: Soaring UK borrowing costs are a problem for Rachel Reeves
Economists have warned that the government is “on course” to miss its own Budget borrowing targets after interest rates for UK long-term borrowing rose to their highest levels this century. The official forecaster, the Office for Budget Responsibility will start the process of updating its forecast next month, to be presented to parliament in late…