UK gambling firms spent ‘astronomic’ £2bn on advertising last year

The Motability scheme announced plans to phase out high-end vehicles like BMW and Mercedes-Benz in favor of more UK-made cars, aiming for 50% of its fleet to be sourced from British factories by 2035. Chancellor Rachel Reeves emphasized that these changes would support thousands of skilled jobs in the UK automotive sector.

Rachel Reeves is expected to announce a downgrade in the UK's economic growth forecasts for the next five years during her upcoming budget presentation, attributing this revision to a lack of investment under previous Tory administrations. The Office for Budget Responsibility (OBR) has reportedly adjusted its growth predictions for each year up to 2030-31.

Chancellor Rachel Reeves is set to deliver her budget speech, which will be closely monitored by influential traders and financial institutions, including a custom AI tool at Deutsche Bank designed to analyze her statements in real-time. This budget is particularly significant as it comes amid economic pressures and expectations of policy shifts.

This week marks a pivotal moment for the UK government as Chancellor Rachel Reeves prepares to unveil her budget, a critical event that could define her leadership and the Labour party's future. The discussions leading up to the budget have been intense, with significant implications for fiscal policy and economic management. Behind the scenes, Kiran Stacey shares insights from his recent trip to Johannesburg with Keir Starmer, including talks on the Ukraine peace plan.

Kemi Badenoch has rejected Rachel Reeves' assertion that she is subjected to 'mansplaining' regarding her role as Chancellor, emphasizing the need to avoid tax increases. This response comes amid heightened scrutiny of Reeves as she prepares for her upcoming budget presentation.

Chancellor Rachel Reeves is set to implement a crackdown on benefit fraud while simultaneously lifting the two-child limit for universal credit, a move expected to cost £3 billion. This initiative aims to generate an additional £1.2 billion in savings as the government addresses rising welfare spending criticisms ahead of the upcoming budget.

The UK is facing a significant jobs crisis, with nearly one million young people classified as Neets—those not in education, employment, or training. Recent data from the Office for National Statistics reveals that this demographic continues to struggle in securing stable employment, exacerbated by the impacts of Covid and the rise of AI technologies.

Chancellor Rachel Reeves is set to unveil her second budget, aiming to address the cost of living crisis by freezing income tax thresholds and rail fares, while proposing a multibillion-pound tax-raising package. This comes as the UK economy faces significant challenges, with a financial gap of approximately £20 billion needing to be addressed.