Raise £12bn in budget by extending income tax thresholds freeze, says thinktank

MPs are cautioning that reducing the cash Isa limit in the upcoming November budget won't necessarily lead to more investments in the stock market. Instead, they warn it could result in higher mortgage rates, which would impact many homeowners. Currently, a significant portion of Isa contributions is directed towards cash savings rather than stocks, indicating that simply changing the allowance may not shift investor behavior. This discussion is crucial as it highlights the potential unintended consequences of fiscal policy on the housing market and personal finances.

NatWest's CEO, Paul Thwaite, has urged the UK government to avoid raising taxes on banks in the upcoming autumn budget, especially after the bank reported a remarkable 30% increase in profits. Thwaite acknowledges the tough decisions facing Chancellor Rachel Reeves to address a potential £30 billion shortfall in public finances, but emphasizes the importance of maintaining fiscal discipline while fostering stability and growth. This stance is significant as it highlights the delicate balance between government revenue needs and the health of the banking sector, which plays a crucial role in the economy.

Rachel Reeves is reportedly considering breaking her party's manifesto pledge by raising income tax in the upcoming budget to address a staggering £30 billion shortfall. This potential move has sparked concerns among party members and the public, as it could undermine trust in political commitments. The discussions around increasing the basic rate or higher tax rates highlight the challenging financial landscape the government is navigating, making it a critical issue for taxpayers and the economy.

The Commons is set to inquire about the rent-free housing arrangement for Prince Andrew at Royal Lodge, raising questions about the transparency of such deals. This inquiry is significant as it reflects ongoing scrutiny of royal finances and public accountability, especially in light of recent investments in infrastructure and housing in the UK.

Recent Russian strikes on Kyiv have left several children injured, highlighting the ongoing conflict's devastating impact on civilians. This incident underscores the urgent need for international attention and action to protect vulnerable populations in war zones.

The first ODI between New Zealand and England is underway at Mount Maunganui, with Harry Brook currently performing well, having scored 37 runs. The rest of the team has struggled, collectively managing only 16 runs. This match is significant as it marks the beginning of the series, setting the tone for the competition ahead.

In a stunning display of skill, Dodgers ace Yamamoto delivered an outrageous pitching performance that left the Jays' hitters completely speechless. His pitches were described as filthy and downright nasty, showcasing his dominance on the mound. This kind of performance not only highlights Yamamoto's talent but also raises the stakes for upcoming games, making fans excited about the potential for more thrilling matchups.

Washington is reportedly contemplating military strikes on drug facilities in Venezuela, as highlighted by CNN. This move, attributed to sources within the government, underscores the ongoing concerns about drug trafficking and its implications for regional security. The potential actions reflect a broader strategy to combat narcotics and may influence U.S.-Venezuela relations significantly.

In an exciting match, Bryan Mbeumo scored a last-minute goal, leading Manchester United to a thrilling victory over Brighton. This win marks their third consecutive triumph in the Premier League, propelling them to fourth place in the standings. Such performances not only boost the team's morale but also enhance their chances for a top finish this season, making every match crucial as they aim for European competition.

The Australian government has decided that the minister will retain the final say on controversial projects under the new nature laws. This decision has pleased the Coalition and industry stakeholders who were advocating for this power, but it has left environmental groups disappointed as they were hoping for a more independent review process. This development is significant as it highlights the ongoing tension between economic interests and environmental protection in Australia.