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The International Monetary Fund has hit out at Liz Truss and Kwasi Kwarteng’s tax cuts for the rich, warning that “large and untargeted fiscal packages” would probably deepen inequality in Britain. In a rare intervention, the IMF took aim at the British government after the UK chancellor’s mini-Budget on Friday...
28.09.2022 05:40
Kwasi Kwarteng is facing demands from his own party to act within days amid fears millions will face a steep hike in mortgage rates – with one senior Conservative MP describing last week’s mini-Budget as “an unmitigated disaster”. Tory MPs called for swift action to restore investor confidence after the...
27.09.2022 23:39
A Labour government will set a target to ensure 70 per cent of Britons own their own homes, Sir Keir Starmer has confirmed. The party will also help “real” first-time buyers onto the property with a new mortgage guarantee scheme, the Labour leader told his annual conference in Liverpool. As...
27.09.2022 17:38
Keir Starmer is to accuse the government of “losing control of the British economy” in a crucial speech held against the backdrop of turmoil in the markets sparked by chancellor Kwasi Kwarteng’s tax giveaway Budget. Addressing Labour’s annual conference in Liverpool, Sir Keir will say that the party is ready...
27.09.2022 11:37
Labour’s lead over the Conservatives has grown to its largest in more than two decades following the government’s unpopular plan to cut taxes and increase borrowing, according to a new poll. The party headed by Sir Keir Starmer has an approval rating of 45 per cent while the Tories led...
27.09.2022 05:36
The Bank of England was forced into an emergency intervention on Monday, warning that it would not hesitate to hike interest rates “as much as needed” after the pound plummeted in the wake of Kwasi Kwarteng’s mini-Budget. Sterling fell to its lowest ever level against the US dollar, dropping by...
26.09.2022 23:35
Labour is promising thousands more doctors, nurses and midwives by reversing the Tories’ abolition of the 45p tax rate for top earners. Rachel Reeves, the shadow chancellor, said the billions saved would deliver ‘one of the biggest expansions of the NHS workforce in history” – instead of handing rewards to...
26.09.2022 17:35
Parliament’s sleaze watchdog has firmly rejected demands to call off its inquiry into Boris Johnson. The House of Commons Privileges Committee dismissed a legal opinion obtained by the former PM’s supporters, which found the probe was unfair. The cross-party panel said that it accepted the advice of Commons clerks and...
26.09.2022 11:33
A Labour government would give taxpayers a stake in British industry with the creation of a national wealth fund that would invest billions of pounds in green businesses over the next decade, the party says. The money created would be ploughed back into local areas, Rachel Reeves will pledge in...
26.09.2022 05:33
Sir Keir Starmer will resist pressure from within his own party to reverse Liz Truss’s 1p cut for basic-rate taxpayers because of fears it could deal a fatal blow to Labour’s chances of victory at the coming election. The Labour leader dramatically pledged to reinstate the 45p income tax rate...
25.09.2022 23:32
A Labour MP has tabled a parliamentary bill that would effectively cut the working week for all employees to four days. Peter Dowd said British workers clocked up the longest hours in Europe and were “long overdue a shorter working week”. Under the plans, the official working week would be...
25.09.2022 11:29