'Sticking to Labour manifesto pledge costs millions of workers' - influential thinktank

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.

HSBC chair candidates are scheduled to present their proposals to the lender's board next week, a significant step in the selection process for the bank's leadership role. This meeting is expected to provide insights into the candidates' visions and strategies for the future of the bank.

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.

Keir Starmer has denied allegations of breaking manifesto pledges following recent tax increases that have garnered support from Labour MPs. This response comes amid a backdrop of political tension as the Labour government prepares for a crucial budget announcement aimed at addressing the UK's cost of living crisis.

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.

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.

The Chancellor has managed to avoid immediate backlash from bond vigilantes following the recent budget announcement, which aimed to restore confidence among lenders to the government. This budget was crucial in addressing the fiscal health of the nation amidst rising borrowing levels and economic uncertainty.

Chancellor Rachel Reeves has announced that salary-sacrificed pension contributions exceeding £2,000 will now incur national insurance charges, a move aimed at addressing fiscal challenges. This decision is part of a broader budget strategy set to be revealed on November 26, 2025, amidst ongoing discussions about the UK's economic stability.