Oil and gas companies have had their North Sea profits all but wiped out by a punitive energy profits levy that has made the UK virtually uninvestable.
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This is the moment that Rachel Reeves was heckled by a member of the public during a visit to Sainsbury's. On Wednesday (18 February), the Chancellor paid a visit to a Sainsbury's Superstore in Sydenham, south-east London where she received a tour of the supermarket. As she was speaking to a cashier, an individual walked past her and called her a genocide supporter, in what appears to be a reference to the ongoing Israel-Gaza conflict.
Chancellor Rachel Reeves will not face an investigation by the prime minister's ethics adviser over whether she broke the ministerial code with her pre-Budget interventions. Reform UK leader Nigel Farage had asked Sir Laurie Magnus to launch an inquiry arguing that Reeves had breached rules which require ministers to be open and candid. He accused her of failing to give Parliament "the full and truthful picture" of the nation's finances in the lead-up to the Budget.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
It depends how the bond market reacts. If the bond market reacts very badly the government will have to react if bond yields start to go up too much, he said. Zahn suggested that it would be unsustainable if the yield, or interest rate, on either 10-year or 30-year UK bonds reached 6%. Such high interest rates created a death spiral, he warned, meaning the government would hopefully act before yields rose that high.
"Labour talk about fairness with the language of Robin Hood. They think those that have taken from those that don't have. They talk about those with the broadest shoulders never worrying about the limit of what those shoulders can bear. They talk about fairness for 'working people', but they can't define what a working person is! They think that what they're doing is righteous, but they're wrong. What they're doing is making everyone poorer."
Since becoming Chancellor Rachel Reeves has rented out her family home through a lettings agency. She had not been made aware of the licencing requirement, but as soon as it was brought to her attention she took immediate action and has applied for the licence. This was an inadvertent mistake and in the spirit of transparency she has made the Prime Minister, the Independent Adviser on Ministerial Standards and the Parliamentary Commissioner for Standards aware.
The Tory leader Kemi Badenoch has said the Chancellor's position is "extremely tenuous" as Rachel Reeves has spent months "floating punishing tax hikes on family homes" whilst she has been "profiting from illegally renting out her house."
The chancellor rightly acted with urgency on this matter. She has set out that it was an inadvertent mistake and as soon as it was brought to her attention took immediate action, applying for the licence and speaking to the independent adviser on ministerial standards. She made the prime minister aware of this issue at the earliest opportunity, at which point he immediately sought advice from the independent adviser.
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
Less than a month before she is due to deliver the budget, Rachel Reeves has admitted breaking rules by failing to apply for a licence from her local council before letting out her south London home. Keir Starmer accepted an apology from Reeves, who said she had not known a licence was required, and declared the matter closed. However, there was a further development on Thursday when Reeves found emails showing that the letting agent
