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Business confidence in the UK fell to its lowest level on record in September, driven by rising labour and energy costs. Bank of England policymakers debate interest rate policies amid concerns over persistent inflation, with some suggesting further rate cuts are possible despite inflation risks.
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Rachel Reeves announced a new youth guarantee scheme at Labour conference, offering paid work, apprenticeships, or college places to young people on Universal Credit for 18 months. The plan includes sanctions for refusal and aims to eliminate long-term youth unemployment, amid debates over funding and policy details.
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The Conservative Party announced plans to abolish business rates for shops and pubs, cut welfare spending by £23 billion, and restrict benefits to UK citizens, excluding EU nationals with settled status. These measures aim to reduce public spending and promote fiscal responsibility amid ongoing party conference debates.
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The Conservative Party is emphasizing fiscal responsibility at its Manchester conference, with Kemi Badenoch proposing a 'golden rule' that half of all savings from cuts go toward reducing the deficit. The party faces ongoing questions about its handling of public finances, especially after Liz Truss's mini-budget crisis. Leadership tensions and polling woes persist.
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The Conservative Party faces declining support and low attendance at its conference, amid internal divisions and a loss of relevance. Critics highlight its failure to address recent failures and question its future viability, as new leadership struggles to revive its fortunes in a shifting political landscape. Today’s date: Thu, 16 Oct 2025 00:25:15 +0100.
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Kemi Badenoch delivered a combative speech at the Conservative Party conference in Manchester, emphasizing her plans to overhaul the economy, borders, and welfare system. She highlighted her party's strengths while criticizing Labour and the previous Tory government, promising significant policy changes if re-elected.
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The IMF reports UK inflation will rise more sharply than expected in 2025 and 2026, reaching the highest in the G7. Despite this, the IMF has increased its growth forecast for 2025 but lowered it for 2026, amid concerns over the labour market and global trade pressures. UK households face rising costs, especially food and hospitality, impacting consumer spending and retail. Policymakers face a challenge in balancing inflation control with economic growth.
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Chancellor Reeves admitted to an oversight in rental licensing requirements for her Southwark home after it was disclosed by the Daily Mail. Prime Minister Starmer confirmed no further investigation is needed, but opposition calls for a full probe persist amid upcoming budget pressures.
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Recent data shows nearly 950,000 UK youths aged 16-24 are NEET, the highest since 2014, with rising unemployment and inactivity. The government plans a youth guarantee scheme amid calls for reforms to support young people's employment and education prospects.
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New UK government forecasts show the tax burden will peak at 38.3% of GDP by 2030/31, driven by increased welfare spending and frozen tax thresholds. The forecasts also predict higher government debt and inflation, with measures including extended threshold freezes and welfare reforms announced in the recent Budget.
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Rachel Reeves faced scrutiny after the early leak of the Office for Budget Responsibility's (OBR) forecast, which predicted slower economic growth and higher inflation. Reeves defended her fiscal approach, emphasizing investment and debt reduction, amid concerns over the leak's impact on market confidence and political stability.