Chancellor Jeremy Hunt is set to make up to £60bn of spending cuts and tax increases to help shrink the government’s medium-term budget gap, despite the cost-of-living crisis, according to reports.
Chancellor Jeremy Hunt has announced that the government’s fiscal statement will be delayed by more than two weeks, following the appointment of Rishi Sunak as prime minister.
The heavily criticised mini-budget has put additional pressure on the UK’s debt affordability and weakened the credibility of government policy, ratings agencies have said.
Fraud seems “like an afterthought” in courts and policing when it comes to funding, leaving services unable to deal with the rising scale and complexity of cyber crime, a group of MPs has said.
Any cuts to public services will be “almost certain” to damage performance, which is already struggling in the wake of a decade of austerity and the Covid-19 pandemic, the government has been warned...
The government has abandoned most of the measures in sacked chancellor Kwasi Kwarteng’s ‘mini budget’ from September, with his replacement Jeremy Hunt calling stability the UK’s “most important...
Jeremy Hunt’s time as chancellor has begun with a government u-turn that appears to go against his own instincts, before he has made a single public statement.
Kwasi Kwarteng has become the second shortest-serving chancellor since the Victorian era, after resigning following weeks of disruption triggered by his package of unfunded tax cuts, with Jeremy Hunt...
Soaring inflation is likely to put two-thirds of the government’s missions outlined in the Levelling Up White Paper at risk of failure, academics have warned.
A senior Conservative MP has suggested the government should row back on more of the tax cuts outlined in last month’s Growth Plan to “reassure the markets” after weeks of turbulence.
Ministers are set to introduce a cap on renewable energy revenues, aiming to “reduce the impact of unprecedented wholesale prices on consumers” in a move labelled a windfall tax by Labour.
An Office for Budget Responsibility forecast will be published this month as the chancellor listens to calls not to delay its publication until he announces his medium-term fiscal plan in late...
The public sector could be set for an exodus of workers if the government fails to compensate departments for higher-than-expected pay offers, according to economists at the Institute for Fiscal...
Income tax bands not rising in line with inflation will eclipse the benefit households might expect from tax cuts, meaning the government is effectively “giving with one hand and taking with the...
The “large and unfunded fiscal package” announced by Kwasi Kwarteng last month has been cited as one of the main reasons ratings agency Fitch cut its outlook for the UK’s credit rating to “negative...
People on benefits face “crushing poverty” if payments are not increased in line with inflation, Kwasi Kwarteng has been told, amid concerns the government could refuse to do so.
Kwasi Kwarteng’s hastily rewritten speech at the Conservative Party conference was packed with mentions of growth and the need to bring down the UK tax burden, but commentators have expressed concern...