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DARK SECRETS: 5 | Vintage Vibes

£3bn boost for armed forces expected as Reeves unveils Labour’s first Budget

Rachel Reeves will make history as the UK’s first female Chancellor when she delivers Wednesday’s Budget.

The Independent UK

Reeves pledges ‘more pounds in people’s pockets’ after warnings of tough choices

The Chancellor’s Budget is expected to focus on fixing the NHS, growing the economy and making people feel better off.

Evening Standard

Hunt accused of trying to ‘blame the referee’ over OBR ‘black hole’ review

Tory former chancellor Jeremy Hunt has written to the UK’s top civil servant about an Office for Budget Responsibility review of his spending plans.

The Independent UK

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Reeves hints at business rates reforms but declines to rule out fuel duty hike

The Chancellor also faced calls to reverse a cut to the winter fuel payment.

The Independent UK

Jeremy Hunt calls on government not to release OBR review into his spending plans

Former chancellor accuses Rachel Reeves of politicising Office for Budget Responsibility by release on budget day

The Guardian - UK

Farage and Reform ‘not the cause of Tory problems, but a symptom’, says Badenoch – as it happened

The Tory leadership candidate says the party churned out a laundry-list of promises instead of listening to members

The Guardian - UK

Gold price hits fresh record high, as bitcoin also rallies – as it happened

Analysts say gold is benefited from safe-haven demand amid persistent geopolitical tensions, expectations of monetary policy easing, and mounting uncertainty surrounding the US presidential election.

The Guardian - UK

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Will bond vigilantes punish Rachel Reeves with a Truss-style market meltdown?

10-year gilt yields have risen in the past month but are within the range of other pre-budget periods

The Guardian - UK

Budget ‘most honest’ in years, Cabinet minister claims

Pat McFadden said Rachel Reeves’ first Budget will ‘end the fiscal fiction of things being announced which had no money set aside for them’.

Evening Standard

What the papers say – October 28

Here are the stories making headlines to start off the week.

The Independent UK

Hunt accuses Budget watchdog of political bias

Jeremy Hunt accuses the Budget watchdog of failing to be impartial since the Labour Party came into office

The Independent UK

OBR to publish breakdown of claimed £22bn ‘black hole’ on budget day

Former chancellor Jeremy Hunt says decision to publish findings of review on Wednesday is ‘significant concern’

The Guardian - UK

The long-awaited Labour budget needs to show the party knows what to do with power

A strategy of raising taxes, spending and borrowing all at the same time to fund investment has risks, but it has a logic too

The Guardian - UK

Reeves set to increase employers’ national insurance contributions

The measures will reportedly impact the private sector - with public bodies reimbursed by the Treasury

The Independent UK

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Evening Standard

Starmer is a ‘working person’ says Chancellor as tax rise questions persist

The Government continues to be asked to pin down the term ahead of tax rises expected in next week’s Budget.

The Independent UK

Keir Starmer says stocks and shares owners ‘not working people’ in hint at capital gains hike

Chancellor Rachel Reeves is looking for around £40bn of tax hikes and spending cuts in her first Budget since entering the Treasury

Evening Standard

Budget 2024: Huge row erupts over Rachel Reeves 'raising mortgage rates' by borrowing billions

The clash over home loans erupted just days before the Budget on October 30

The Independent UK

No 10 climbs down on PM’s claim stocks and shares owners not ‘working people’

The Government has been asked repeatedly to define what a ‘working person’ is to establish which taxes could rise.

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The National (Scotland)

Rachel Reeves confirms change to debt rule and warns of higher taxes ahead of Budget

Taxes and borrowing are both set to increase as Rachel Reeves signalled she would rewrite the way government debt is measured in her first Budget ...

Evening Standard

Budget 2024: Homeowners 'to be hit with high mortgage bills for longer' as Rachel Reeves borrows billions

The Chancellor is also set to announce a string of tax rises in the Budget on October 30

The Independent UK

Reeves confirms change to debt rule and warns of higher taxes as Budget looms

Chancellor Rachel Reeves insisted her first Budget would pave the way for improved public services and ‘rebuild our economy’.

Evening Standard

Sadiq Khan slashes his minimum ask for transport funding ahead of Labour's Budget

The mayor insisted he will still be demanding ‘as much as I can get’ for TfL, but said the ‘black hole’ in the public finances had to be acknowledged

Evening Standard

Key questions over ‘persnuffle’ kerfuffle as Reeves confirms debt rule change

Rachel Reeves could change the measure used for her debt target, potentially giving her billions more to spend at the Budget.

The Guardian - UK

Jeremy Hunt claims Labour changing debt definition will ‘punish families with mortgages’ – as it happened

Former chancellor says ‘increasing borrowing means interest rates would be higher for longer’ as Reeves says it will ‘make space for investment’

The Guardian - UK

Kemi Badenoch ‘refused to move’ Tory leadership contest to allow winner budget response

Former business secretary says Sunak and Hunt better placed to respond to Rachel Reeves’ economic policies

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