Chancellor's Own Goals Have Exacerbated Budget Challenges

Chancellor's own goals have exacerbated budget challenges

Sky's Gurpreet Narwan says a further tax-raising budget risks choking off the growth Rachel Reeves so desperately needs after a series of mistakes first time round that have cost jobs among the very working people she wants to protect.

Budget 2025: Pension lump sum raid ruled out by Rachel Reeves amid surge of withdrawals ahead of Budget

Treasury officials have confirmed that Rachel Reeves will retain the existing tax-free pension lump sum allowance, abandoning any plans to lower the threshold in her forthcoming Budget

Rachel Reeves appears to rule out major Budget move

The Chancellor will unveil her Budget on November 26

Labour infighting puts chancellor’s budget plan to reassure bond markets at risk

It was hoped manifesto-breaking tax rises might bring down borrowing costs – but party turbulence is likely to spook investors There is one narrow, perilous route by which Rachel Reeves can successfully deliver her 26 November budget, and it runs right through government bond markets. But the…

Chancellor's Own Goals Have Exacerbated Budget Challenges

That is the bleak record the chancellor will have to defend as she prepares for her budget in two weeks’ time. The Treasury has not yet responded to the latest labour market figures, which contain very few silver linings. The unemployment rate hit 5%, rising faster than economists were expecting. Vacancies have fallen over the past year and, while economic inactivity has fallen over the past year, it remains high by historic standards. Money lat…