Starmer denies breaking manifesto pledges after tax rises cheer restive Labour MPs

Chancellor Rachel Reeves has faced criticism from business leaders for failing to stimulate economic growth in her recent budget announcement, which was expected to address the UK's cost of living crisis. The budget, which included significant tax increases, has been described as a missed opportunity to fulfill Labour's pledge to boost output.

Chancellor Rachel Reeves has announced a budget aimed at addressing the UK's cost of living crisis, which includes a £26 billion tax increase. The buildup to this budget was marred by leaks and political maneuvering, leading to a chaotic atmosphere that overshadowed the announcement. Despite modest giveaways, the budget is seen as a critical moment for the Labour government as it seeks to stabilize its position amid economic challenges.

An influential thinktank has reported that adhering to Labour's manifesto pledges is costing millions of workers, highlighting the economic implications of the party's commitments. The analysis suggests that the party's policies may not align with the financial realities faced by many constituents.

The US is implementing deregulation measures for banks, aiming to enhance lending and profitability, which could further solidify American financial dominance. Critics, however, warn that these changes may increase the risk of a financial crisis similar to past events.

The U.K. government, led by Chancellor Rachel Reeves, has announced a budget plan aimed at calming markets and addressing the cost of living crisis, which includes significant tax increases. This budget is seen as a pivotal moment for the Labour government, scheduled for November 26, 2025, and aims to stabilize the economy amidst rising national debt and slower growth forecasts.

Chancellor Rachel Reeves has announced a budget that raises the UK's tax take to an all-time high of 38% of GDP by the end of the parliament, reflecting a £26 billion tax increase aimed at stabilizing the economy amidst ongoing financial challenges.

Chancellor Rachel Reeves' recent budget announcement has been characterized by the Office for Budget Responsibility (OBR) as a strategy to delay fiscal pain, suggesting that she is now more likely to meet her fiscal rules without additional policy changes. This approach indicates a shift in fiscal management amidst ongoing economic challenges.

Labour's stance on North Sea oil and gas production remains unclear, as it balances a commitment to halt new drilling licenses while promising to manage existing fields throughout their operational lifespan. This contradiction raises concerns about job security in an industry already facing significant job losses, estimated at 1,000 per month according to Robert Gordon University.