UK government borrowing was the highest for five years in September after rising debt interest costs and higher welfare payments pushed the public finances deeper into the red. Figures from the Office for National Statistics (ONS) showed public sector net borrowing – the difference between public spending and income – hit £20.2bn last month, up … Read more
Budget uncertainty hits investment but take-up of new space rises amid firms’ return-to-office mandates Construction of offices, shops and warehouses in the UK has fallen to the lowest level in more than a decade amid rising build costs and uncertainty. All commercial sectors have been hit, with construction across office, retail and industrial sectors down … Read more
Polling finds majority consider £1bn funding for Aids, TB and malaria vaccines a UK success story Pressure is mounting on Keir Starmer not to cut the UK’s contribution to the Global Fund to Fight Aids, Tuberculosis and Malaria after polling found 62% of Britons believe the government should maintain or increase its support. The prime … Read more
Post-summer bounce in activity fails to materialise as buyers and sellers, in the south especially, opt to ‘wait and see’ The UK’s housing market is showing signs of slowing down amid speculation that Rachel Reeves could announce tax increases on property in next month’s budget. In a sign of growing caution among house hunters, figures … Read more
Discount retailer looks for successor for Mike Schmidt, who is stepping down as chief financial officer The discount retailer B&M has ousted its finance chief after reporting a £7m accounts blunder that will cut its annual earnings – its second profit warning within two weeks. The company told investors it looking for a successor to … Read more
Exclusive: Chancellor hints at rises and calls out past ‘scaremongering’ over VAT on private schools and changes to non-doms Rachel Reeves has said higher taxes on the UK’s wealthy will form part of next month’s budget, as she shrugged off the “scaremongering” and “bleating” of her critics, and stressed her determination to repair the public … Read more
Manufacturing and health sectors boost growth but ONS revises down figures for July Exclusive: says higher taxes on wealthy ‘part of budget story’ The UK economy expanded by 0.1% in August, according to official figures, giving a lift to Rachel Reeves before next month’s crucial budget. A boost from the manufacturing sector helped the economy … Read more
The incumbent senator had nearly double Paxton’s cash on hand at the end of September. Texas’ GOP Senate primary is widely expected to be a bruising and costly fight — and so far the money race is highly competitive between Sen. John Cornyn and state Attorney General Ken Paxton. Cornyn’s political operation hauled in roughly … Read more
Republicans on Capitol Hill and in the White House are quietly mulling proposals that could unite members on Obamacare subsidies. A menu of options is starting to emerge around what a compromise might look like for extending a suite of Affordable Care Act tax credits, which have become a focal point in the current government … Read more
Senate Democrats voted once again Tuesday night to reject the GOP-led funding patch, guaranteeing the government shutdown stretches beyond the two-week point. Nearly 14 days since federal funding lapsed, the failed vote marks the eighth time the Senate has failed to advance the House-passed measure. And there’s no sign the bill is on the precipice … Read more