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Lindsay Hoyle starts by telling MPs that speakers from the parliaments in Fiji and Ukraine are in the gallery. And he says it is four years to the day since David Amess was murdered.
It’s PMQs. Here is the list of MPs down to ask a question.
Continue reading...Investors rattled by resignation of French PM but country is not alone in trying to grapple with political maths
Macron asks outgoing French PM to make last-ditch effort to avoid political crisis
What happened on a chaotic day in French politics – and what next?
Sébastien Lecornu’s abrupt resignation as the French prime minister on Monday after less than a month in the role marked the latest clash between France’s stretched public finances and its polarised politics.
Lecornu was the latest prime minister to try and fail to cobble together a package of spending cuts and tax rises that would pass muster in a parliament without a clear majority, and contain mounting bond market pressures.
Continue reading...Mayor of Greater Manchester says he would have to be ‘wrenched’ out of city and says he wants UK to rejoin EU. This live blog is closed
In her Today interview Rachel Reeves was asked about a FT report saying she will urge business leaders to highlight the risks of a Reform UK government in her speech later.
The FT say Reeves will tell the Labour conference.
Who is standing up for Britain’s stability. A Labour government that is resolute in cutting interest rates and borrowing or a Reform party that cheered on Liz Truss’ mini-budget?
Who is standing up for Britain’s businesses? A Labour government that is forging a closer relationship with our nearest trading partners or a Reform party that talks Britain down and is hungry to cut us off from the world?
Continue reading...Exclusive: Chancellor also set to unveil plans to get young people back into work in party conference speech
Rachel Reeves will deliver a library in every primary school in England as part of Labour’s plans to give all children the best start in life regardless of their background.
The scheme, which will create libraries in the 1,700 primaries currently without them, will be funded from £132.5m of dormant assets that will be unlocked to give young people access to cultural opportunities.
Continue reading...Chancellor’s invitation criticised as ‘strange timing’ with Treasury looking at whether to raise duties on £12bn sector
The chancellor, Rachel Reeves, has been urged to cancel plans to be the guest of honour at an event hosted by the chief lobbyist of the gambling industry while the Treasury is in the midst of a review of taxes on the £12bn sector.
Reeves is slated to appear at a “private reception” for business leaders, organised by the corporate communications company Brunswick, at the forthcoming Labour party conference in Liverpool.
Continue reading...Chancellor hosting Downing Street talks with Treasury secretary, which are aimed at securing more US investment
Rachel Reeves will host the bosses of top US and UK financial firms in Downing Street on Tuesday morning, as Donald Trump begins his official state visit.
The meeting, which will be jointly hosted by US Treasury secretary, Scott Bessent, will be attended by senior figures from BlackRock, Barclays and Blackstone, who will have roundtable talks with officials hoping to highlight economic cooperation between the two countries.
Continue reading...Concern for ‘anchor tenants’ as trade body warns that stores could put up prices or cut jobs to protect profits
Up to 400 large shops are at risk of closure with as many as 100,000 jobs at risk if the government goes ahead with plans to hit stores with higher business rates, retailers have warned.
Some of the UK’s largest retail premises, including supermarkets and department stores, would face higher property tax charges under new rules being considered by the government before November’s budget.
Continue reading...Chancellor offers unequivocal backing to colleague following stamp duty error
Rachel Reeves, the chancellor, was also asked in her Sky News interview if the Rayner controversy showed that the stamp duty regime was “way too complicated”. Reeves sidestepped the question, saying:
Well, look, Angela tried to do the right thing, and of course it is incumbent on all of us to try to properly understand the rules, and she is now working to make sure that the correct tax is paid.
Well, the definitive advice came in on Wednesday morning, and that’s when Angela put out the statement.
On Tuesday as well some court injunctions were lifted related to her disabled son and those circumstances, and that’s why Angela was able to make a full statement on Wednesday.
Continue reading...Jamie Raskin says Farage is ‘a Trump sycophant’ before UK politician addresses the House judiciary committee in Washington
Kemi Badenoch is probably hastily redrafting her PMQs script in the light of Angela Rayner’s statement about underpaying her stamp duty. She has got less than half an hour to craft the right questions. And she will probably want to ask about the economy, and hate speech laws, too.
Here is the list of MPs down to ask a question.
Continue reading...Chancellor will face more limited fiscal headroom at budget after yield on 30-year bond increases to 5.723%
Britain’s long-term borrowing costs have hit their highest level in 27 years, intensifying the pressure on the chancellor, Rachel Reeves, before the autumn budget.
The yield, or interest rate, on 30-year UK government debt hit 5.723% on Tuesday. That is its highest level since 1998, indicating that it will cost the UK more to borrow from the markets, above the previous 27-year high of 5.649% set in April.
Continue reading...Home secretary earlier suggested warehouses could be used instead of hotels, while PM will urge ministers to go ‘further and faster’ on immigration in Tuesday meeting
Lamb says the Greens are “the antidote to Reform”.
That gets a big round of applause.
We’re a home for all those people across the country holding their heads in their hands as the Labour government lets them down again and again and again, whether it is switching from the aid budget or from people with disabilities and not bringing in taxes … we need.
And that is why, in reaction, a new Green wave is sweeping the country as people turn to us.
It’s already become a bit of a cliche, but we are really moving into a multi-party system, with the Greens poised to help create the next government.
And, like all the best cliches, it has the distinct advantage of also being for true.
Continue reading...Despite concerns about economy, poll shows optimism about trading prospects at highest level since 2014
Confidence among UK businesses has grown despite anxiety about the state of the economy, in a rare slice of positive news for the chancellor, Rachel Reeves, in the run-up to her autumn budget.
An August poll of UK companies by Lloyds Bank showed that improved sentiment among manufacturers and retailers helped push overall optimism within UK plc up by two percentage points, with 54% of companies now feeling confident in the current environment.
Continue reading...Profits rise 56% to £38.2m in 2024 as company overtakes British rival Boohoo and closes in on Asos
Shein, the online fast-fashion retailer founded in China, increased sales in the UK by about a third to more than £2bn last year, overtaking the British rival Boohoo and closing in on Asos.
The company, which had been considering a £50bn float on the London Stock Exchange but is expected to list in Hong Kong, said profits rose 56% to £38.2m last year on which it paid £9.6m corporation tax, according to accounts filed at Companies House this week.
Continue reading...Exclusive: Chancellor also looking at tweaks to capital gains tax to try to bridge £40bn-plus spending gap before budget
The Treasury is looking at ways to raise more money from inheritance tax amid growing pressure on the country’s finances ahead of the autumn budget, sources have told the Guardian.
Officials have been tasked with examining whether tightening rules on the gifting of money and assets could be one way of addressing a gap between revenue and spending that is estimated to reach more than £40bn.
Continue reading...NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap
Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation, according to a leading thinktank.
In a blow to Labour’s hopes of balancing the books without breaking manifesto commitments ruling out personal tax rises, the National Institute of Economic and Social Research (NIESR) said a number of factors would knock off course the chancellor’s plans to stay within Whitehall spending limits.
Continue reading...Chancellor admits voter frustration as government faces renewed calls from Labour politicians for a wealth tax
Labour does not “deserve” to win the next election if it does not change the country, Rachel Reeves has said, as she acknowledged some voters were disappointed with the party’s record since entering government.
The chancellor said she understood the unhappiness felt by some voters towards a government that has U-turned on winter fuel allowance and welfare policies in recent months.
Continue reading...Chancellor admits voter frustration as government faces renewed calls from Labour politicians for a wealth tax
Labour does not “deserve” to win the next election if it does not change the country, Rachel Reeves has said, as she acknowledged some voters were disappointed with the party’s record since entering government.
The chancellor said she understood the unhappiness felt by some voters towards a government that has U-turned on winter fuel allowance and welfare policies in recent months.
Continue reading...Chancellor admits voter frustration as government faces renewed calls from Labour politicians for a wealth tax
Labour does not “deserve” to win the next election if it does not change the country, Rachel Reeves has said, as she acknowledged some voters were disappointed with the party’s record since entering government.
The chancellor said she understood the unhappiness felt by some voters towards a government that has U-turned on winter fuel allowance and welfare policies in recent months.
Continue reading...Defending industry over consumers sends ‘really bad message’, says Treasury committee member Bobby Dean
Rachel Reeves’ efforts to intervene in the supreme court case on the car finance scandal were “unprecedented and disgraceful” and send a “really bad message” to consumers that the government is willing to defend wrongdoing by banks, Treasury committee member and Lib Dem MP Bobby Dean has said.
While the supreme court largely sided with finance companies on Friday – helping lenders avoid a £44bn compensation bill – Dean said the chancellor had gone too far to show she was on the side of business.
Continue reading...Defending industry over consumers sends ‘really bad message’, says Treasury committee member Bobby Dean
Rachel Reeves’ efforts to intervene in the supreme court case on the car finance scandal were “unprecedented and disgraceful” and send a “really bad message” to consumers that the government is willing to defend wrongdoing by banks, Treasury committee member and Lib Dem MP Bobby Dean has said.
While the supreme court largely sided with finance companies on Friday – helping lenders avoid a £44bn compensation bill – Dean said the chancellor had gone too far to show she was on the side of business.
Continue reading...