Reeves urges Labour MPs to unite behind the Budget

The Labour government is set to unveil a new North Sea Strategy during the upcoming Budget speech, which includes plans to relax drilling restrictions in the North Sea. This announcement is expected to be made by Chancellor Rachel Reeves, highlighting a significant shift in energy policy.

UK Chancellor Rachel Reeves is set to present a tax-heavy budget on November 26, 2025, which is expected to test the confidence of investors and the Labour Party. This budget follows consultations with bond-market investors and Labour backbenchers, highlighting the government's focus on fiscal responsibility amid economic challenges.

UK Chancellor of the Exchequer Rachel Reeves is set to unveil her second budget on November 26, 2025, after a period of preparation that has included consultations with both bond-market investors and Labour Party backbenchers. This budget is anticipated to address pressing economic challenges, including a potential downgrade in growth forecasts for the next five years due to previous government policies.

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.

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 owner of William Hill is considering selling its Italian operations in response to a significant gambling tax increase anticipated in the upcoming budget proposed by Chancellor Rachel Reeves. This move is part of a broader strategy to strengthen the company's financial position amid challenging economic conditions.