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UK public finances

  • Friday, 13 September, 2024
    Explainer
    Why is Reeves considering changes to the UK’s government debt target?

    Chancellor is exploring tinkering with Bank of England bond accounting

    A montage of stacks of coins, a yard stick used as a line graph and the logo of HM Treasury
  • Thursday, 12 September, 2024
    UK government finances are on an ‘unsustainable’ path, watchdog warns

    Demographic pressures and the costs of climate change will weigh on the public finances, says OBR

    An elderly woman holding pound coins
  • Wednesday, 11 September, 2024
    UK tax
    Bankers fear Reeves is preparing UK Budget tax raid on sector

    Chancellor and BoE governor to hold meeting with bosses of leading lenders

    Clouds hang over the skyscrapers of the City of London. In the foreground, a person is silhouetted while holding an umbrella, walking in the rain.
  • Tuesday, 10 September, 2024
    UK welfare reform
    Starmer suffers rebellion as MPs vote to cut pensioner benefit

    About a dozen Labour MPs are believed to have abstained in protest

    An elderly person with their hands on a radiator
  • Friday, 6 September, 2024
    UK Budget
    Rachel Reeves faces Whitehall revolt over spending cuts

    Departments set to reject chancellor’s demands as ‘just not possible’ and ask for more money instead

  • Wednesday, 4 September, 2024
    Reeves plans to ‘fiddle’ fiscal rules to boost borrowing, claim Tories

    UK chancellor may redefine debt in October Budget

    Rachel Reeves give a speech at the Treasury
  • Tuesday, 3 September, 2024
    Cabinet secretary bolsters Reeves’s claims on spending pressures

    Simon Case points out lack of new spending review to replan departmental budgets

    Chancellor Rachel Reeves, seated at a table in a formal meeting room, holds a document and a pen, preparing to give a speech at the Treasury in London, England.
  • Monday, 2 September, 2024
    UK government criticised for ‘over dramatic’ claims of run on the pound

    Labour minister had warned of the ‘economy crashing’ without immediate cuts

    Lucy Powell
  • Wednesday, 21 August, 2024
    UK public sector borrowing higher than expected in July

    Figure of £3.1bn highlights challenge for Labour government

    The Bank of England building
  • Friday, 16 August, 2024
    Patriotic gifts at a 10-year high — from just six UK donors

    Gifts to reduce national debt rose to £700,000 in 2023-24

    The Houses of Parliament in Westminster
  • Wednesday, 14 August, 2024
    Government of Scotland
    Scotland’s net fiscal deficit widens to £22.7bn

    Increase to 10.4% of GDP highlights vulnerability of country’s finances to moves in global oil market

    A North Sea drilling rig at sunset
  • Monday, 5 August, 2024
    Reeves leaves door open to higher borrowing to tackle UK ‘fiscal hole’

    Chancellor declines to rule out reclassifying how debt is measured ahead of visit to US and Canada to drive investment

    Rachel Reeves standing outside the Bank of England building
  • Tuesday, 30 July, 2024
    Who is to blame for the UK government’s overspending?

    Recriminations fly after Reeves’s claim of £22bn black hole

    Chancellor Rachel Reeves and her predecessor Jeremy Hunt
  • Monday, 29 July, 2024
    News in-depthUK government spending
    Chancellor’s task of stabilising the public finances has only just begun

    Treasury acknowledges announcements will only go part of the way towards clamping down on 2024-25 overspend

    A montage of a pair of scissors in front of images of a home heater, rail tracks, pound notes and Stonehenge
  • Monday, 29 July, 2024
    The FT ViewThe editorial board
    Britain’s tough fiscal choices

    Growth measures should not be sacrificed to plug ‘black hole’ in public finances

    Chancellor of the Exchequer Rachel Reeves in her office at no 11 Downing Street, London, ahead of her statement to the House of Commons on the findings of the Treasury audit into the state of the public finances.
  • Monday, 29 July, 2024
    FT live news
    Chancellor Reeves sets out state of UK public finances - as it happened
  • Saturday, 27 July, 2024
    Explainer
    In charts: Labour’s economic inheritance

    Rachel Reeves is preparing to unveil the result of an audit of UK public spending, paving the way for tax rises

    Montage of Rachel Reeves and charts
  • Thursday, 25 July, 2024
    UK government spending
    Reeves set to disclose £20bn shortfall in government funding plans

    Chancellor will outline results of an audit of finances likely to pave way for tax rises this year

    The US Secretary of the Treasury, Janet Yellen (R), shakes hands with UK Chancellor of the Exchequer, Rachel Reeves
  • Thursday, 25 July, 2024
    Reeves to pave way for UK Budget tax rises

    Labour’s election pledges mean wealthy are likely to be hit

    Rachel Reeves
  • Sunday, 21 July, 2024
    UK ministers point to tough autumn Budget and possible tax rises

    Rachel Reeves to give statement on Labour’s ‘spending inheritance’ as new government grapples with early crises

    Rachel Reeves
  • Sunday, 21 July, 2024
    UK public services
    Reeves hints at imminent above-inflation pay deals for teachers and nurses

    UK chancellor says ‘there is a cost to not settling’ even as Treasury grapples with straitened finances

    Rachel Reeves
  • Friday, 19 July, 2024
    UK public sector borrowing higher than expected in June

    Figures highlight challenges for new Labour government of funding its economic agenda

  • Wednesday, 17 July, 2024
    Chris Giles
    Labour’s moment to blame, borrow and tax

    The coming fiscal statement will set an economic baseline for the new government

    Close up of a smiling Rachel Reeves in front of UK flag
  • Monday, 8 July, 2024
    Reeves warns UK public finances in worst state since second world war

    UK’s new Labour chancellor has instructed Treasury to examine state spending under the Conservatives

    Rachel Reeves giving a speech
  • Friday, 5 July, 2024
    Reeves faces daunting fiscal choices at helm of ‘pro-growth’ Treasury

    New UK chancellor will try to boost output and avoid imposing drastic cuts on frayed public services

    Rachel Reeves arrives at 10 Downing Street
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