Reeves: ‘My budget will match greatest economic moments in Labour history’

The chancellor says she will invest to reverse Tory decline, but stands accused of breaking party manifesto promises

Labour will launch a new era of public and private investment in hospitals, schools, transport and energy as momentous as any in the party’s history in this week’s budget, the chancellor, Rachel Reeves, has said.

In an interview with the Observer before the first budget by a female chancellor, Reeves draws comparisons with Labour’s historic reform programmes begun in 1945 by Clement Attlee, in 1964 under Harold Wilson and in 1997 under Tony Blair.

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Developers to directly fund schools, parks and public transport under Victorian trial

Program that ties new infrastructure to housing projects will start in 2027 in 10 Melbourne ‘activity centres’, premier says

The Victorian premier, Jacinta Allan, says an overhaul of the state’s infrastructure contribution scheme will ensure communities that build more homes will receive funding for key amenities like schools and parks.

With her government’s third housing policy announcement in as many days, Allan on Tuesday flagged a revamped statewide pilot infrastructure contribution program.

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Big business calls for $10bn housing reform fund to reward Australian states that streamline supply

Business Council of Australia also recommends phasing out stamp duty and fast-tracking migrant workers for building industry

The nation’s peak business body has called for a $10bn housing reform fund that will pay out to states that fix the regulation and planning bottlenecks contributing to the supply crisis.

The Business Council of Australia is also pushing for the nation-wide removal of stamp duty on homes, warning that it disincentivises people from moving to smaller dwellings and freeing up larger homes.

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Infrastructure taskforce to help chancellor avoid financial sector turmoil

Rachel Reeves is to seek advice from City experts to ensure big projects’ value for money and reassure markets

Rachel Reeves, the chancellor, is taking action to ensure her budget plan for a multibillion-pound increase in government borrowing to fund infrastructure projects avoids a Liz Truss-style meltdown in financial markets.

Ahead of her tax and spending event on 30 October, the chancellor is convening on Friday the first meeting of a taskforce of leading City figures to advise on infrastructure projects. The government will also launch a watchdog to oversee public works and ensure value for money for the taxpayer.

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Labour needs £25bn a year in tax rises to rebuild public services, warns IFS

Thinktank says tax increases in budget will be necessary even if Rachel Reeves changes fiscal rules

Keir Starmer’s promise to end austerity and rebuild public services will require tax increases of £25bn a year in the coming budget even if debt rules are changed to provide scope for extra investment spending, a leading thinktank has said.

In its preview of the first Labour budget in 14 years, the Institute for Fiscal Studies said Rachel Reeves would need to raise taxes to fresh record levels to meet the government’s policy goals. The chancellor was also warned of the risk of a Liz Truss-style meltdown if the City responded badly to substantially higher borrowing.

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‘Davos on the Mersey’: key conference takeaways as Labour tries to woo business

As the budget looms, where the party stands on investment in the UK economy, workers’ rights and more

For a second year running, corporate Britain descended on Liverpool for Labour’s annual conference, in an event so packed with executives that some insiders joke the socialist gathering has developed into a full-blown “Davos on the Mersey”.

Like last year, the exhibition and conference fringe had sponsored events, lounge areas and advertising from exhibitors including Gatwick, National Grid, Ikea and Specsavers. This year, however, business leaders were looking for clues about how Labour will govern after July’s election landslide.

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‘There’s something in the air’: UK airport expansion gears up for takeoff

Lobbyists are increasingly confident about expansion plans as concerns for the economy start to deepen

The younger, tormented minister mulling his position before the Labour government granted Heathrow’s third runway in 2009 might have been greatly relieved to know that, 15 years later, not a shovel would have touched the ground.

But now, returning to power with a revamped energy and climate brief, Ed Miliband again finds himself in a cabinet which, many in aviation hope, may usher in bigger airports and more flights – as well as enough CO2 emissions to outweigh any new solar farms.

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‘Too high for comfort’: transport costs rising at almost three times rate of inflation, data reveals

Households ‘hurting’ as people forced to spend more of their income on driving, petrol, tolls and public transport fares

Australians are being forced to spend more of their income on transport, with spending on driving, petrol, tolls and public transport fares growing at almost three times the rate of inflation, new data reveals.

In the 12 months to 30 June, transport costs rose by 10.5% across the board, well above the CPI increase of 3.8% over the same period, the latest Australian Automobile Association’s (AAA) transport affordability index showed.

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Residents of Illinois town evacuate as officials warn of ‘imminent’ dam failure

Nashville and surrounding areas have been hit by severe storms and flooding, overwhelming city’s infrastructure

Residents in Nashville, Illinois, are evacuating their homes after emergency management officials warned the failure of the city’s dam was “imminent”.

Nashville, a small city in Illinois with a population of nearly 3,000 people, and surrounding areas have been hit with severe storms which have caused flooding, overwhelming the city’s infrastructure. More than 5in of rain fell in the region within six hours on Tuesday.

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M25 weekend closure: drivers told to expect ‘incredibly busy’ routes

Roadworks mean stretch between junctions 10 and 11 will be shut from 9pm on Friday to 6am on Monday

Drivers have been warned to expect delays this weekend as part of the M25 shuts down for the third time this year.

Major roads in the south-east will be “incredibly busy” this weekend as National Highways closes a section of London’s orbital motorway for roadworks in both directions between junctions 10 and 11 in Surrey from 9pm on Friday to 6am on Monday, the AA said.

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UK haulage industry calls for investment in electric truck infrastructure

There are just 300 electric HGVs in the 500,000-strong lorry fleet – and only one public charging point, says RHA

The road haulage industry is calling on the new government to urgently tackle investment in infrastructure for electric trucks, after pointing out there is just one public charging point for HGVs in the whole of the UK.

Takeup of electric cars is soaring, with about 1.1m fully battery-powered cars on British roads and about 63,000 charging units in 33,000 locations, according to Zapmap data.

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Starmer says he would not let SNP hold new independence referendum or lift veto on gender recognition bill – as it happened

Labour leader says he would refuse to participate in negotiations for another independence referendum if he is elected PM

Speaking of Nigel Farage: the Reform UK leader has praised the misogynist influencer Andrew Tate for being an “important voice” for the emasculated and giving boys “perhaps a bit of confidence at school” in online interviews that appear to be aimed at young men over the past year.

The Guardian’s Rowena Mason and Ben Quinn report:

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Net zero U-turns will hit UK infrastructure, say government advisers

Sir John Armitt urges ministers to act swiftly or risk impeding growth and jeopardising climate targets

Rishi Sunak’s U-turns over net zero have delayed progress on vital infrastructure that is needed for economic growth, the government’s advisers have said.

Sir John Armitt, the chair of the National Infrastructure Commission (NIC), said good progress had been made on renewable energy in the past five years, but changes to key policies, including postponing a scheme to boost heat pump takeup, had created uncertainty and delay.

The government will fail to meet its targets on heat pump rollout.

The promised lifting of a ban on new onshore windfarms has not gone far enough.

Massive investment is needed in the electricity grid.

There is no proper plan for rail in the north and Midlands now that the northern leg of HS2 has been cancelled, severely inhibiting economic growth in those regions.

Water bills will need to go up to fix the sewage crisis, and more reservoirs are needed to avoid drought, while water companies have done too little to staunch leaks.

The UK lacks a coherent strategy on flooding, with more than 900,000 properties at risk of river or sea flooding and 910,000 at risk of surface water flooding.

Good progress has been made on the rollout of gigabit broadband around the country.

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No internet, no phone: Canada wildfires expose fragility of rural infrastructure

Remote communities suffer total loss of communications after fires damage critical fibre optic cables

Shortly before sunset on Friday, residents of Canada’s Yukon territory discovered their connection to the outside world had vanished. Internet access had gone. Mobile phones showed no signal. Landlines had failed.

Chaos quickly set in. Electronic payments couldn’t be processed. In Whitehorse, the capital, most ATMs couldn’t function and the few that did were quickly drained of cash from panicked residents. City officials warned that the ability to call police, ambulance or fire services was non-existent.

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If Jacinta Allan isn’t Daniel Andrews, her first budget should show Victorians exactly who she is

A huge infrastructure agenda helped win Andrews three elections but the priority now for the state – and new premier – is the housing crisis

In the seven months since Jacinta Allan took over as Victoria’s premier, she’s worked to shirk off the impression she’s Daniel Andrews’ apprentice and differentiated herself from the former leader.

By all accounts, Allan has moved away from the centralised model that characterised the Andrews leadership and drew criticism from integrity agencies. Her cabinet meetings are said to be more consultative and her ministers have been given autonomy over their portfolios and, as a result, more visibility in the media.

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M25 five-mile closure: drivers warned to steer clear over weekend

Roadworks mean stretch between junctions 10 and 11 will be closed for first time, from 9pm on Friday to 6am on Monday

Drivers have been warned to steer well clear, turn off the satnav and stick to the official diversions as some of the biggest roadworks since the Romans results in part of the M25 motorway fully closed for the first time in its history this weekend.

Epic traffic jams are anticipated, with a five-mile stretch of Britain’s busiest motorway, the London orbital motorway, closed for engineering from 9pm on Friday.

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Biden pledges billions to rebuild cities ‘torn apart’ by highways decades ago

President announces $3.3bn in infrastructure spending to ‘right historic wrongs’ as he takes 2024 campaign to vital swing states

Joe Biden hailed the beginning of $3.3bn in infrastructure spending on US projects on Wednesday “to right historic wrongs” with efforts to reconnect city neighborhoods riven by interstate highways that plowed with particular impunity through many Black, brown, Asian American and Hispanic communities decades ago.

The US president was in Milwaukee, where he traveled to announce new infrastructure investment and officially open his election campaign’s Wisconsin office in the vital swing state.

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Australia to spend $80m on business case for Sydney-Newcastle high speed rail

The announcement of a business case budget is the latest development in the Albanese government’s slow moving high speed rail project

The Albanese government will spend $80m developing a business case for the Sydney-to-Newcastle stretch of its east coast high speed rail line, as the decades-long project inches further forward.

The transport minister, Catherine King, said the allocation of $78.8m was part of Labor’s $500m election commitment to the early stages of high speed rail, with the initial Sydney-Newcastle leg representing a “crucial waypoint” on the project.

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UK government sets out plans for ‘biggest nuclear power expansion in 70 years’

Ministers hope to build fleet of reactors to meet quarter of electricity demand by 2050 but critics highlight long delays and rising costs

The government has set out plans for what it claims will be Britain’s biggest nuclear power expansion in 70 years, despite concerns about faltering nuclear output and project delays.

Ministers published a roadmap on Friday that recommits the government to building a fleet of nuclear reactors capable of producing 24GW by 2050 – enough to meet a quarter of the national electricity demand.

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Mulch containing asbestos found at Rozelle parklands may have been used at other Sydney sites

Testing reveals ‘low-risk’ contamination in samples taken from mulch near Rozelle playground, Transport for NSW says

An expansive park built above Rozelle’s multibillion-dollar spaghetti junction interchange has been closed after asbestos was found in garden mulch around a children’s playground – with the contractor involved confirming the mulch was also used elsewhere in Sydney.

An urgent audit was under way to determine what other sites could be affected by what the premier, Chris Minns, described as “a toxic substance”.

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