Rachel Reeves

UK borrowing jumps as Reeves faces up to Iran war challenge

It is 25% higher than in April 2025 at £24.3 billion, the second-highest borrowing for the month on record

British Prime Minister Keir Starmer, weakened by personal scandals, fiscal struggles and dismal election results, is facing calls from more than one-fifth of his party to go.

How Keir Starmer imploded and plunged Britain into more chaos

One of Starmer’s longest supporters, Ed Miliband, has urged him to set a timetable to leave office

An Asda petrol station in Bethnal Green, London, Britain, March 27, 2026.

UK government to scrap planned rise in fuel tax, The Sun reports

Global oil prices have risen by around 60 per cent since the start of the Iran war

The House of Lords’ Economic Affairs Committee said Rachel Reeves’ fiscal rules were not tough enough to stop public debt from rising.

UK budget rules should seek to lower debt, parliament committee says

Britain’s public sector net debt has risen from 61 per cent in 2009/10 to 95 per cent of GDP by 2025/26

Chancellor Rachel Reeves has highlighted the need to bring down debt costs as she tries to keep her budget plans on track to balance day-to-day spending with tax revenues by the end of the decade.

Britain’s deficit narrows but fuel duty fall points to Iran war drag

Government borrowing in 12 months to end-March is equivalent to 4.3% economic output; gap of £132 billion is £700 million less than most recent official forecast

British Chancellor Rachel Reeves has voiced frustration over the lack of a plan from the US and Israel to deal with Iran’s closure of the Strait of Hormuz.

UK’s Reeves to set out plan to help businesses with energy costs

[LONDON] British finance minister Rachel Reeves will set out her approach to helping businesses struggling with high energy prices later this week in the wake of the ongoing conflict in Iran, she said...

A low-key speech would represent a contrast to Rachel Reeves’ three previous fiscal events in which she took the tax burden to its highest since shortly after World War Two.

Reeves set for careful UK budget update as Iran conflict alarms investors

Reeves says she will make major fiscal policy changes only in her full budget statements in the autumn

Britain's Chancellor of the Exchequer Rachel Reeves raised taxes in November by another £26 billion to reassure jittery bond markets – more than doubling the margin for error against her fiscal rules.

UK deficit falls more than expected as tax revenues jump

The deficit was £7.1 billion less than a year earlier

Retail sales in the UK dropped more than expected in October as consumers reined in spending ahead of the Budget.

UK economy shrinks again in October ahead of Budget tax hikes

Speculation that taxes will be raised weighs heavily on households, which power roughly 60% of the economy

Above: Homes in Guildford, 44 km south-west of London. The average home value increased 0.3% to £272,998 in November, suggesting that the housing market is holding up.

Rising UK house prices defy Budget tax fears, mortgage-lender Nationwide says

As buying activity was held off ahead of the Budget, prices may rise in the coming months: Capital Economics