Category Archives: Rachel Reeves

Autumn statement live: Jeremy Hunt cuts national insurance as OBR downgrades UK growth forecast

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Chancellor cuts employee national insurance to 10% while abolishing class 2 national insurance

Keir Starmer has said that a pause in hostilities between Israel and Hamas must be used to tackle the “urgent and unacceptable humanitarian catastrophe” in Gaza.

Welcoming the deal, which is expected to involve the release of 50 hostages being held by Hamas and a number of women and teenagers from Israeli jails, the Labour leader said his party had been calling for “a substantial humanitarian pause”. He said:

There must be immediate access to aid, food, water, fuel and medicine to ensure hospitals function and lives are saved. Aid and fuel need to not just get in but be distributed widely and safely.

We must also use the space this pause creates to take more steps on a path towards a full cessation of hostilities rather than an escalation of violence.

The real function of the projected spending squeeze is as a trap for Labour. If the opposition rejects the Tory trajectory, it will be accused of planning a profligate spree with public money. And if it pledges adherence to impossible targets, it will enter government with its hands bound too tight to deliver prompt satisfaction to the people who voted for it.

Keir Starmer and Rachel Reeves have so far operated a sensible policy of not walking into traps of this kind. That approach restored swing voters’ trust in Labour as stewards of the economy. But it tests the patience of an activist base that sees reversal of austerity as a moral imperative and can smell the incipient disappointment in promises of fiscal discipline.

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Autumn statement: Jeremy Hunt looks to cut UK taxes and ‘turbo-charge growth’

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Amid less gloomy OBR forecasts the chancellor is expected to take first steps towards cutting personal taxes

Jeremy Hunt will announce 110 measures to boost Britain’s stagnant economy and bow to demands from anxious Tory MPs for tax cuts when he delivers his second autumn statement on Wednesday.

In one of the last set-piece economic events before the general election, the chancellor will pledge to “turbo charge” growth while taking the first steps to cut personal taxes after recent sharp increases.

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Labour motion to ban Truss-style budget meltdowns puts pressure on Tory MPs

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Party loyalty would force Conservatives to vote against plan for fiscal responsibility

Read more: ‘I challenge Rishi Sunak: vote with Labour to stop a Truss-style disaster happening again,’ writes Rachel Reeves

Labour will force a Commons vote this week aimed at creating new legal safeguards against fiscal disasters such as Liz Truss’s catastrophic mini-budget, which sent the financial markets into meltdown and drove up mortgage rates.

The party’s plan for a “fiscal lock” to protect personal, family and the national finances from reckless politicians will be contained in an amendment to the king’s speech that will be voted on by MPs on Tuesday. The manoeuvre will present Conservative backbenchers with a dilemma over whether to back a Labour amendment, or vote against what is a plan designed to embed fiscal responsibility into the budgetary process, and protect it from wild or accidental political misjudgments.

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Keir Starmer defends his call for humanitarian pause in Gaza, saying it is quickest way to provide help – UK politics live

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Labour leader says he thinks most practical way to get aid into Gaza is to have a humanitarian pause

Keir Starmer is delivering his speech to the North East Chamber of Commerce now.

He starts by saying they are near the A1, where there is a stretch of road that Rishi Sunak recently promised to upgrade.

It’s a story you see right across Britain. Infrastructure projects, some with billions already committed, businesses planning around the structures developed in rooms like this.

But the projects and investment get blocked by objections, consultations, legal challenges, ballooning costs delays, delays, delays – until it’s easier just to give up and move on.

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Rachel Reeves admits mistakes after being accused of plagiarism in new book

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Shadow chancellor says she holds her ‘hands up’ in response to FT piece on seemingly copied passages in work on female economists

Rachel Reeves has said she holds her hands up and acknowledges making mistakes in her new book about female economists after she faced allegations of plagiarism.

The shadow chancellor admitted on Thursday that some sentences in her book, The Women Who Made Modern Economics, were “not properly referenced in the bibliography”.

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‘Securonomics’: five key business messages from Labour conference

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With company chiefs in attendance and an endorsement from Mark Carney, shadow chancellor sought to demonstrate economic competence

At every turn in Labour’s annual conference in Liverpool, there are signs of big business on manoeuvres. Exhibition stands for Google, Ineos and Specsavers; slick videos for Amazon and Uber, fringe events sponsored by Deliveroo and Goldman Sachs, while even the parliamentary lounge – a retreat for MPs from the throng of 16,000 delegates – was sponsored by Lloyds Banking Group.

Labour was keen to demonstrate economic credibility by basking in the presence of company bosses. For business leaders, it was a chance to check out a potential government in waiting, with many commenting on the marked contrast with the Conservative conference in Manchester.

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Rachel Reeves says Labour will get rid of ‘obstacles created by antiquated planning system’ – UK politics live

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Shadow chancellor will tell party conference that Labour wants to be the party of building and infrastructure

In normal circumstances, Labour conference would be front-page news, but this week’s event has being overshadowed by the war between Israel and Hamas. Rachel Reeves has been taking questions on this in her morning interviews and she stressed Labour’s support for Israel. In an interview with BBC Radio 4’s Today programme, asked about claims that the “occupation of Palestine” had provoked the attacks by Hamas, Reeves replied:

Gaza is not occupied by Israel.

The real cause of what is happening now is a terrorist attack. If Britain or any other country was attacked by terrorists, we would believe, and rightly so, that we have every right to defend ourselves, to get back hostages and to protect our citizens.

Speeding up the planning for critically important infrastructure by updating all national policy statements – which set out what types of projects the country needs – within the first six months of a Labour government.

Fast-tracking the planning process for priority growth areas of the economy, such as battery factories, laboratories, and 5G infrastructure.

If we want to spur investment, restore economic security, and revive growth. Then we must get Britain building again.

The Tories would have you believe we can’t build anything anymore. In fact, the single biggest obstacle to building infrastructure, to investment and to growth in this country is the Conservative party itself.

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Pat McFadden: the most powerful Labour politician most have never heard of

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Role preparing for election will see McFadden shape party’s direction, but it will likely be done quietly

Pat McFadden is the most powerful Labour politician most people have never heard of. As Rachel Reeves’ No 2 in the shadow Treasury team, with responsibility for Labour’s public spending plans, he could derail the dreams of shadow cabinet colleagues with just a raised eyebrow.

In his new role preparing for the election campaign and – should Labour win it – running the Cabinet Office, he assumes even greater responsibility for the direction of Keir Starmer’s party. Yet much of it is likely to be done quietly, and efficiently, behind the scenes.

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Labour plans new taskforce to target contractors linked to hostile nations

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Exclusive: Yvette Cooper to tell RUSI thinktank that economic security and national security go hand in hand

Contractors linked to hostile foreign powers such as China will be targeted by a new security taskforce if Labour wins the next general election.

In a joint initiative from the shadow home secretary, Yvette Cooper, and the shadow chancellor, Rachel Reeves, the new body will aim to anticipate risks to Britain’s national security.

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Rishi Sunak says he is ‘totally, 100% on it’ in battle against inflation – UK politics live

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Prime minister says he knows people will be anxious about rate rise but ‘it is going to be OK’

Rishi Sunak has posted a thread on Twitter setting out what the government is doing to help people with the cost of living. It starts here.

He ends by saying “if we can hold our nerve” he is confident the plan will deliver.

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Boris Johnson resigns as MP with immediate effect and says he is ‘bewildered and appalled’ at being ‘forced out’ – live

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Former prime minister to be suspended for 10 days and will not stand again in Uxbridge and South Ruislip

Responding to Rachel Reeves’s comments about Labour’s green investment on the Today programme (see also 9.24am and 9.45am) Rebecca Newsom, Greenpeace UK’s head of politics, said:

Any U-turn would be a huge mistake. Without the necessary immediate investment, we will lose out on the creation of thousands of jobs needed as we phase out fossil fuels, and we will lose out on the opportunity to put green tech industries at the centre of our economy.

Rachel Reeves rightly cites the opportunities of green growth, but this prevarication on confirming the scale of investment needed from the start of a new Labour government risks throwing in the towel on the global race in green tech, with the US, China and the EU already far ahead.

Should this letter be ignored, and negotiations are not in place by the 17 June the NEU national executive will be discussing our next steps. This will include the consideration of NEU teacher members in England taking further strike action in the week beginning 3 July.

There are six school term weeks until the summer holiday. Up and down the country, head teachers are trying to plan their school budgets for next year and trying to cope with the rapidly growing problem of recruiting enough teachers to fill their classrooms.

By not publishing the STRB report, your department is withholding vital information about what proposals that body has made on teacher pay, which may or may not help with the recruitment difficulties. It is also withholding vital information about the funding of pay rises.

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Labour needs an ‘honest debate’ about Brexit damage, union warns

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Unless Britain develops a closer relationship with the EU it will continue to haemorrhage investment and jobs, says the GMB

The leader of one of the country’s biggest unions has urged Labour to conduct an “honest debate” about the economic damage being caused to working people by Brexit, as evidence grows that it is fuelling inflation and driving jobs and investment abroad.

In an interview with the Observer, Gary Smith, the general secretary of the GMB union, which is one of Labour’s biggest financial backers, giving more than £1m a year, said politicians of all parties had been too afraid to admit the adverse consequences that leaving the EU was having on jobs and life in working communities.

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Starmer urged to use some of Labour’s £28bn green fund for other spending

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Shadow ministers say green prosperity plan should pay for capital spending such as housing or transport infrastructure

Senior Labour figures are urging Keir Starmer to give the go-ahead to a series of infrastructure projects as part of the party’s £28bn green prosperity plan, even if they are not strictly environmental in nature.

Shadow cabinet ministers have asked the Labour leader and the shadow chancellor, Rachel Reeves, to expand the fund’s green mission and use it to pay for a series of capital spending projects, such as housing or transport infrastructure.

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PMQs live: Rishi Sunak and Keir Starmer clash over housing market and rising mortgage costs

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Latest updates: PM and Labour leader face off in final prime minister’s questions before voters head to the polls

George Osborne, the Conservative former chancellor, has come out in favour of banning smoking over the long term, and taxing orange juice, to promote public health.

He proposed the ideas – neither of which have much chance of featuring in the next Conservative manifesto – in evidence to the the Times Health Commission, a year-long project to investigate ideas that would improve health and social care.

Since the dawn of states, [the government] has regulated certain products and medicines, and made certain things illegal. I don’t see why you can’t do that in a space such as food. Food’s been heavily regulated since the 19th century.

Of course you’re going to have lots of problems with illegal smoking, but you have lots of problems with other illegal activities. It doesn’t mean you shouldn’t try and ban them and police them and make it less readily available. I thought that was a compelling public health intervention.

We’re making sure that we stop those sort of cold calls and those spoof text messages that pretend to be from somebody else, that’s the first thing.

The second thing we’re doing is we’re making sure there’s more ability for the police to pursue fraudsters and that’s where the national fraud squad with 400 new investigators and a new national fraud intelligence unit comes in. That’s a huge development.

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NHS workers expected to be offered one-off payments worth up to 6% as part of revised pay offer – UK politics live

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Health secretary expected to announce a formal pay offer to key unions later today

Sinn Féin’s US fundraising arm has caused a row by calling for a referendum on Irish unity in adverts in the New York Times, Washington Post and other US publications.

The half-page ads were paid for by Friends of Sinn Féin and ran on Wednesday urging support for unity referendums in Northern Ireland and the Republic of Ireland. “It is time to agree on a date,” it said. “Let the people have their say.”

They’re ads from Irish American organisations whose view on reunification is well known and held for a very long time and they take out ads every year. So, the focus now needs to be on getting back to work [at Stormont].

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Jeremy Hunt defends pensions giveaway as Labour vows to scrap it

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Shadow chancellor says decision to axe lifetime allowance is ‘wrong priority at the wrong time for the wrong people’

The Labour party has vowed to reverse the chancellor’s £1bn budget pensions tax “gilded giveaway” for the wealthiest 1% if it wins the next general election, as Jeremy Hunt defended his decision to scrap the lifetime pensions allowance.

The shadow chancellor, Rachel Reeves, said Labour would seek to force a Commons vote next week on the decision, which critics argue will allow the wealthiest people to put a limitless amount into their pension pots, which can then be passed on to their heirs without paying inheritance tax.

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UK racing to secure deal to protect firms from Silicon Valley Bank collapse

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Rishi Sunak and Jeremy Hunt explore options to help tech and life sciences sectors

The UK government is scrambling to secure an emergency deal to protect Britain’s tech and life sciences sectors from major losses after the collapse of Silicon Valley Bank (SVB), as financial markets braced for further volatility after the biggest bank failure since 2008.

The prime minister, Rishi Sunak, and the chancellor, Jeremy Hunt, signalled on Sunday that they were exploring a range of options, including an emergency fund that could provide a cash lifeline to support startups, as bidders put their hat in the ring for a potential takeover of the UK subsidiary.

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Hunt likely to save spending spree for polling day, not budget speech

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The chancellor has room for giveaways in this week’s budget, but business and consumer groups fear he will hold them back for the election

Jeremy Hunt is under pressure to be generous when he delivers his first budget speech since he became chancellor last October.

The public finances have improved dramatically from the chaotic days that followed Liz Truss’s mini-budget in September, which rocked international money markets and sent interest rates on government debt soaring. The cost of financing Britain’s debt has fallen in recent months and the cost of gas on wholesale markets has tumbled.

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Labour challenges Hunt to adopt NHS training policy he wanted to ‘nick’

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Rachel Reeves tasks chancellor with finding money to double England’s doctor and nurse training places

Rachel Reeves has challenged Jeremy Hunt to find the money for Labour’s plan to double training places for doctors and nurses – pointing out he said he wanted to “nick” the opposition’s policy just two weeks before becoming chancellor.

The shadow chancellor said NHS shortages were causing 1.5 million people in need of medical treatment to say their work was suffering, with new analysis showing it was costing the economy about £700m a year.

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Rishi Sunak reshuffle: ‘red wall’ MP Lee Anderson named deputy Tory chair – live updates

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Controversial MP appointed as Greg Hands’ deputy; Michelle Donelan becomes minister for science, innovation and technology

This is from TalkTV’s Kate McCann.

“Next hour or so …” We’ll see. Reshuffles often take longer than expected, because all it takes is one minister to say no, or ask for time to think, and then the whole process gets clogged up. There is already some evidence that this one is not going to be quite as quick as originally expected. (See 8.30am.)

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