North Sea drilling restrictions to be relaxed in new Labour plan

Chancellor Rachel Reeves is set to announce a budget aimed at addressing the UK's cost of living crisis, a pivotal moment for the Labour government led by Keir Starmer. The budget, scheduled for November 26, is expected to include significant tax increases to cover a £20 billion spending gap and to stabilize the economy amidst lower growth forecasts.

The minimum wage for individuals over the age of 21 has been increased to £12.71 per hour, a decision that has been positively received by many. However, experts caution that this increase may not sufficiently address the current cost of living crisis affecting many workers.

The UK is set to see an increase in minimum wage rates, benefiting approximately three and a half million low-paid workers across the country. This adjustment reflects ongoing efforts to improve the financial conditions of the workforce and address living costs.

Chancellor Rachel Reeves is preparing for a crucial budget announcement amid deep unpopularity and concerns from Labour MPs. The upcoming budget, scheduled for November 26, is seen as a pivotal moment for Reeves, who faces pressure to address fiscal challenges while maintaining party support.

The UK government has officially selected Heathrow Airport's plan for a longer third runway, which will extend to 3.5 kilometers and necessitate the construction of a new road tunnel beneath the airport. This decision is part of a broader £33 billion expansion initiative aimed at increasing the airport's capacity and is expected to be operational by 2035.

The government has announced an expansion of the Help to Save scheme, which provides a 50% bonus to individuals on low incomes after two and four years of saving. This initiative aims to encourage more people to save and improve their financial stability.

The UK government has announced an extension of the sugar tax to include pre-packaged milk-based drinks, such as bottled milkshakes and lattes, by lowering the sugar threshold from 5g to 4.5g per 100ml. This decision is part of ongoing efforts to address rising obesity rates in the country.

Rachel Reeves, the UK's chancellor, is preparing to announce a budget that is expected to include significant tax and spending measures, amid her challenging tenure marked by low popularity and economic scrutiny. This budget is seen as a critical test for her leadership as it comes at a time of heightened economic uncertainty and declining consumer sentiment.