Reeves unveiled a tax-raising Budget: the freeze on personal thresholds is extended, salary sacrifice schemes will be capped, and higher earners and companies will pay more to fund expanded welfare and services. An accidental OBR leak pre-empted the plan. Markets liked the bigger fiscal buffer.

Reeves plans a tax‑heavy Budget to prove fiscal grip and plug a £50bn hole. Expect frozen thresholds, tighter reliefs and a higher minimum wage, with scant room for giveaways as priorities shift to stability, debt reduction and steady funding for public services.

Washington and a European partner voiced optimism over a revised 19‑point peace plan after Geneva talks, leaving major choices to the leaders. The draft takes the partner’s key points on board, while the other side has yet to review it. Further diplomacy is planned ahead of a possible leaders’ meeting.

Donald Trump criticised European leaders and questioned Washington’s approach to a proposed peace plan, calling it “not a final offer”. After allied talks in Geneva, officials described the process as messy, raising doubts over US alignment with partners and Western unity.