Reeves plans to raise about £2bn in the Budget by tightening taxes on professionals in partnerships, especially LLPs, aligning National Insurance with employees and closing loopholes. A mansion tax on high‑value homes is also floated. Supporters cite fiscal repair; critics warn of higher bills for GPs and lawyers.
The PM welcomed Pride of Britain winners to No10, praising their bravery and service and saying their achievements show the country isn’t broken. During the visit, 12-year-old Luke Mortimer said he’d like to be Deputy PM, as honourees toured the building and met staff.
At the Covid inquiry, the ex‑PM said he was extremely angry with the then education secretary over the A‑level grading controversy that forced a U‑turn. He called the episode a serious failure and explained the reversal to restore fairness for students.
Following the killing of 16-year-old Sasha Marsden, her sister is urging MPs to scrap the 28‑day limit for challenging unduly lenient sentences, arguing justice shouldn’t be time‑barred. The man convicted of her death could be eligible for release in 2048.
Working-age benefits will rise about 4% next year, tied to September inflation and likely below the state pension uplift. The Treasury faces a squeeze from high borrowing costs and uprating pressures, as the Bank of England warns of a possible credit crunch. Reeves says Brexit is hurting growth more than forecast.
Ministers will scrap the family‑court presumption that contact with both parents is automatically best. Prompted by reviews highlighting risks in abuse cases, judges will prioritise safety and welfare, deciding contact on evidence rather than default, case by case.
Analysts anticipate Chancellor Reeves’s Budget could target savings to raise revenue, with options including reduced pension tax relief, tighter ISA perks, and higher capital gains and dividend taxes. Supporters call it fiscally necessary; critics warn it would hit long‑term savers.
US-led peace efforts collapsed after the other side rejected a freeze on current positions, prompting cancellation of a planned Hungary summit. The White House says no meeting will proceed without movement. Britain and allies support a firm, rules-based stance.
Andrew Bailey warned the surge in private credit could threaten financial stability after recent large US corporate failures. He saw 2008-style risks from complex structures, high leverage and weak covenants, urging greater transparency, tougher stress tests and restraint by lenders and investors.
Boris Johnson told the Covid Inquiry that lockdowns and school closures carried a “huge price” for pupils, acknowledging they failed children. He expressed regret and said he wished an alternative had been found, while arguing decisions were made in good faith under uncertainty and rejecting claims of negligence.
Rachel Reeves says leaving the EU has harmed the economy more than expected, adding avoidable costs for firms. With about a month until the Budget, she signals tax rises to tackle a deficit of up to £50bn and plans to rebuild relations with Brussels to ease trade frictions.