Economists warn budget built on ‘shaky foundations’; December UK interest rate cut looks more likely – business live

The National Union of Students (NUS) has raised concerns over a three-year freeze on the student loan repayment threshold, set to remain at £29,385 starting April 2027. This decision could force graduates in low-paid jobs to repay their loans sooner, potentially impacting their ability to manage essential living costs such as food and rent.

Energy advisers have alerted UK ministers to a potential gas supply crisis that could emerge by the end of the decade, urging immediate action to secure gas supply for homes and businesses during cold weather. The warning highlights the vulnerability of the UK's energy infrastructure amidst changing climate conditions and energy demands.

Financial analysts have recommended purchasing shares in British gambling firms, including Flutter, despite the sector facing significant tax increases that are projected to reduce profits substantially. Chancellor Rachel Reeves announced these tax hikes in her recent budget, which are expected to cost the industry an additional £8.3 billion by 2030-31.

The Canadian government has announced new support measures for the steel sector, which are expected to boost steel stocks in the country. This initiative comes as part of a broader effort to protect industries adversely affected by tariffs and trade challenges.

UK Chancellor Rachel Reeves is facing criticism for raising taxes to fund welfare programs, a move that has sparked debate about the sustainability of her fiscal policies. The recent budget announcement included a £26 billion tax increase, raising the UK's tax take to a record high of 38% of GDP by the end of the parliament.

Net migration to the UK has decreased by 69% year on year, with the latest figures from the Office for National Statistics (ONS) reporting a total of 204,000 net migrants for the year ending June 2025, the lowest since 2021. This significant drop from 649,000 reflects changing immigration dynamics and policies in the UK.

The Office for Budget Responsibility (OBR) has called in a cyber expert to investigate a premature release of Budget analysis documents, which disrupted Chancellor Rachel Reeves's planned statement. Journalists accessed the sensitive information ahead of the official announcement, leading to a chaotic situation for the Labour government.

Chancellor Rachel Reeves presented her second Budget, which included measures such as stamp duty holidays and cuts to tax relief, aimed at addressing the ongoing economic challenges in the UK. The budget reflects a response to the cost of living crisis while attempting to stabilize the stock market.