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Liz Truss and Kwasi Kwarteng U-turn on scrapping 45p tax rate

Liz Truss and Kwasi Kwarteng have abandoned a plan to abolish the top rate of income tax for the highest earners in an astonishing U-turn. The Chancellor acknowledged that their desire to borrow billions to axe the 45% rate on earnings over £150,000 ...

03 Oct 2022 at 12:08

Ex-England star Neville due at conference as Labour sets out investment plan

A Labour government would create a state-owned investment fund to back projects which could generate wealth for the nation. Shadow chancellor Rachel Reeves will use her speech at the party’s conference in Liverpool to set out the plan, which would ...

26 Sept 2022 at 01:01

Labour pledges to use state-owned investment fund to ‘build British industry’

A Labour government would set up a state-owned investment fund so the British state could invest directly in productive projects and create a return for taxpayers, the shadow chancellor has said. Ahead of her speech at the Labour conference, ...

25 Sept 2022 at 23:30

Labour accuses Kwasi Kwarteng of ‘fanning flames’ of falling pound

Chancellor Kwasi Kwarteng “fanned the flames” of the plummeting pound by hinting at fresh “unfunded” tax cuts, his Labour shadow has said after sterling hit an all-time low against the dollar. Rachel Reeves accused ministers of recklessly ...

26 Sept 2022 at 12:28

Labour presents alternative to ‘out of control’ Tories after market chaos

Labour sought to portray itself as a responsible alternative government as market panic continued over Kwasi Kwarteng’s mini-budget. Shadow chancellor Rachel Reeves said Labour would reinstate the top income tax rate of 45% on earnings ...

26 Sept 2022 at 20:15

Demands for Chancellor to make emergency statement amid market turmoil

Liz Truss and Kwasi Kwarteng faced demands to recall the House of Commons in an attempt to calm markets following the chaos unleashed by the Chancellor’s mini-budget. The Bank of England was forced to take emergency action, buying up ...

28 Sept 2022 at 14:07

Labour demands recall of Parliament after Kwarteng’s mini-budget triggers chaos

Liz Truss and Kwasi Kwarteng faced demands from the main opposition parties to recall the House of Commons in an attempt to calm markets following the chaos unleashed by the Chancellor’s mini-budget. The Bank of England was forced ...

28 Sept 2022 at 15:07

Liz Truss tax plans ‘profoundly unconservative’ says former Tory MSP

A former Tory MSP has described UK Government tax plans as “profoundly unconservative” as he said the UK “needs a Labour government”. Professor Adam Tomkins, who left Holyrood last year after one term to return to work at Glasgow ...

28 Sept 2022 at 15:35

Business leaders join calls for emergency cost-of-living support

The Government must have “all hands to the pump” to address the cost-of-living crisis ahead of the autumn, business leaders have warned. Tony Danker, director general of the Confederation of British Industry (CBI), joined former ...

08 Aug 2022 at 16:11

Labour pledges to address ‘unjustifiable’ costs of prepayment energy meters

Labour has said it wants to put a stop to “outrageous” premiums that energy prepayment meter customers face. Shadow chancellor Rachel Reeves said Labour would end the “unjustifiable” practice that can result in people with ...

11 Aug 2022 at 23:30

Chancellor’s economic plans will reward ‘already wealthy’, warns Rachel Reeves

Liz Truss and Kwasi Kwarteng are two “desperate gamblers chasing a losing run” with an economic plan rewarding the “already wealthy”, according to shadow chancellor Rachel Reeves. The Labour frontbencher took aim at the ...

23 Sept 2022 at 12:27

Tax cuts could be offered by Labour at next election, suggests shadow chancellor

Tax cuts could be promised by Labour at the next election, shadow chancellor Rachel Reeves has said. In an interview with The Mirror newspaper, the Labour frontbencher hit out at the Tory leadership contenders, calling ...

22 Jul 2022 at 21:40

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