British politician, Chancellor of the Exchequer since 2024
Grab reports strong Q2 results and lifts full-year outlook as AI-driven efficiency boosts margins; Grab is accelerating in Southeast Asia while pursuing Taiwan expansion. Rolls-Royce posts higher semi-annual profit guidance on defense demand and data-centre power growth, with AI-influenced efficiency lifting margins.
Public finances tighten as Labour government sets October 28 budget date while pursuing devolution, defence spending and growth plans within fiscal rules amid Iran-related pressures.
The government has unveiled plans to give England’s mayoral authorities a share of income tax to fund local development. While praised as a potential fix for regional inequality, the policy will take years to implement and risk leaving slower-growing areas behind, as councils seek to borrow for major projects amid central oversight.
Andy Burnham has secured overwhelming MP backing and appears poised to become Labour's leader and prime minister, with nominations advancing and a potential coronation by mid-July. Al Carns has ruled himself out, leaving Burnham as the sole declared candidate as nominations continue and a parliamentary hustings looms.
A series of proposals around council tax, stamp duty and land value tax are attracting attention as policymakers consider how to reform property taxation. The debate spans mansion taxes in Scotland, and broader reforms that could affect ownership costs and mobility.
A wave of commentary and policy proposals surrounding UK Prime Minister-in-waiting Andy Burnham is pushing for a radical economic and housing strategy. The debate centers on restoring aid targets, reforming tax, and expanding social housing, while markets monitor mortgage pricing and fiscal discipline.
A cross-industry taskforce led by former John Lewis chair Sir Charlie Mayfield has signed up more than 250 major employers to monitor sickness absence, return-to-work outcomes and disability participation. The aims are to reveal workplace health performance and unlock productivity gains valued at billions. The initiative follows government reforms and ongoing debates about welfare and labour participation.
Nigel Farage has resigned as MP to trigger a by-election in Clacton, arguing the voters should judge his actions. With major parties abstaining, Count Binface and a slate of independents are contesting the race, which is drawing scrutiny over Farage’s finances and a parliamentary standards inquiry.
The BBC’s annual salaries list shows Scott Mills as the highest-paid on-air star for 2025–26, following his sacking in March amid a police probe into historical offences. Several long-time earners have departed, while others remain and new leadership roles at radio and TV are highlighted.
The CMA has urged the UK and devolved governments to bolster safeguards for heating oil consumers after a price spike triggered by the Middle East crisis. It finds rising wholesale costs largely explain price increases, but protections for oil users lag those for gas and electricity customers. About 1,700 orders were cancelled with some patients paying up to £350 extra; regulators plan enforcement and compensation for affected customers.
The Guardian reports Burnham pledges to deliver “good growth in every postcode” through devolution and industrial policy; Bloomberg notes the economy faces major challenges, including weak growth and debt, as he is set to become prime minister. Together the coverage outlines a plan to rewire the state, with devolution and targeted investment at its core.
The OECD has forecast the UK’s GDP will slow to 0.9% in 2026, down from 1.4% last year, citing energy costs and geopolitics. It stresses the need for reforms to boost productivity and address regional disparities, as energy prices remain a risk to growth.
Labour signals a renewed drive on welfare reform, emphasizing opportunity and independence as final reports on Pip and youth worklessness are awaited. Ministers say the approach will shift from simple entitlements to helping people live fuller lives.
The Makerfield MP has outlined a ten-year vision to reform the country, advocating clearer funding priorities and a shift away from costly programmes. He has suggested early moves to free resources by scrapping digital ID and has signalled willingness to revisit taxation in pursuit of fairness while stressing unity within Labour.
Andy Burnham has been installed as prime minister and has promised immediate measures to give households "breathing room" on the cost of living. He has begun selecting a cabinet, signalled support for new North Sea drilling, and faces immediate fiscal and defence funding gaps that his first autumn Budget must fill.
Andy Burnham has been confirmed as Labour leader at a special conference in London and will become prime minister on Monday after Keir Starmer formally resigns to the King. Burnham has secured overwhelming support from Labour MPs, pledged a "distinctively Labour" government, and promised to devolve power, tackle social care and focus on growth outside London.
The Real Rates Reform Alliance has launched a plan to replace the current business rates system with a two-tier approach that taxes online sales at 2% and lowers rates for bricks-and-mortar firms. The proposal would raise overall revenue while delivering relief to traditional retailers and high streets, as UK leaders debate a broader reform of business taxation.
Independent sources report Octopus Energy is pressing the incoming UK prime minister to reform the electricity market. The company says reform could save households up to £114 a year and cut billions in costs by 2050, with further savings if levies are moved to general taxation. Reform also faces a two-year timeline and potential gains for wind, batteries and interconnectors.
Andy Burnham has become Labour leader following a political surge that has installed him as the UK’s prime minister-designate. The transition begins with formalities at Buckingham Palace and culminates in a Downing Street address after polling and a party mandate shaped by recent local elections.
The Independent reports Andy Burnham has pledged a “new direction” for the UK, advocating devolution and a North No. 10 to drive reforms in energy, housing and transport. He aims to move power out of Whitehall and fosters a vision of “Manchesterism” to deliver growth across regions.
Prime minister has announced an 850 million VAT cut on household electricity bills from October, funded by scrapping the Digital ID programme. The move is part of a broader plan to ease the cost of living, with ministers pledging to pass savings through to consumers as cabinet reshuffles unfold.
New PM Andy Burnham has moved quickly to reassure voters with cost‑of‑living measures, a cabinet reshuffle, and promises to curb immigration, signaling a shift from Labour’s Starmer era. Early reactions praise the direction but warn of looming intra‑party battles.
The Welsh government has pledged a multi-year budget for farming subsidies, ring-fenced at 340m a year until March 2030, amid debate over sustainability and how best to support the sector as farms adapt to environmental schemes and legacy funding transitions.
The new Labour leader, Andy Burnham, has delivered a nationwide address outlining priorities for restoring government credibility and easing the cost of living. He frames his tenure as a call for honesty, reflection, and a cautious path to steady governance, with a pledge to deliver tangible improvements.
A new Prime Minister has accepted the King's invitation to form a government. He has vowed to raise standards, end rough sleeping, reduce the welfare bill, and push a 10-year plan to restore stability and build a preventative state. He is also reshuffling the cabinet and outlining measures to ease the cost of living in the coming days.
The Labour leadership has appointed John Healey as chancellor, with Andy Burnham promising rapid moves to cut living costs and boost growth, while reshaping defence and economic policy. Cabinet changes reflect a broader reshuffle aimed at reunifying Labour after leadership transitions.
The new government is implementing a VAT cut on electricity bills and a 2 bus fare cap, funded by redirecting savings from a scrapped digital ID programme. Officials say the measures will reduce household costs, while ministers debate expanding the personal allowance. Updates indicate the plan is moving ahead despite questions about funding and timing.
New UK Prime Minister Andy Burnham has taken office, meeting the King and announcing a 10-year plan to stabilize the economy, end rough sleeping, and decentralize power. He has reshuffled the cabinet, replacing Starmer loyalists with allies, and pledged to re-industrialise Britain while facing a challenging economy and mounting debt.
UK prime minister Andy Burnham has taken office and pledged to deliver real change while promising a fully funded package to ease the cost of living. He is reshaping the cabinet, signaling a shift from the Starmer era, with Healey as chancellor and a plan to lay out a 10-year vision for Britain. Markets reacted with caution as investors weigh higher borrowing against intervention in the economy.
The government has announced a VAT cut on domestic electricity bills from 1 October, which is expected to save an average household about £345 a year. The measure is funded by cancelling the Digital ID programme and is part of a broader package to ease the cost of living, with the new chancellor emphasising relief this winter.
Public sector net borrowing in June has come in lower than forecast, driven by higher tax receipts and lower debt interest costs. The new Chancellor pledges fiscal discipline as the government aligns with its rules, while energy bills relief and a funding shift shape the autumn budget.
The ONS has shown wage growth in the private sector has slipped below 3% for the first time since 2020, with three-month vacancies dropping to 712,000. Unemployment remains at 4.9%, payroll numbers fall slightly, and market signals suggest softening conditions ahead as pay growth in the public sector keeps overall earnings above inflation.
Bloomberg reports JPMorgan Chase Chief Executive Jamie Dimon has warned that punitive bank taxes could push capital abroad. He says the UK’s bank levy and potential tax shifts could damage London’s status and force reconsideration of the Canary Wharf tower project if a Labour government adopts a hostile stance. The remarks come amid political upheaval and calls for higher bank taxes.
Mitie has accepted an offer from OCS Group valuing the company at about £3.1 billion, with shareholders set to receive up to 221.6p per share in cash and dividends. The deal, subject to shareholder and court approval, aims to accelerate growth and expand service capabilities. OCS Group would add Mitie’s 84,000-strong workforce and key contracts across government, NHS, transport hubs and airports to a larger UK facilities-management platform.
Andy Burnham has reshaped the UK government on day one, appointing a new cabinet and unveiling an energy-relief measure, while facing scrutiny over party funding and donations. The move appears aimed at consolidating support and delivering a decisive start after his leadership win.
New prime minister has pledged to reduce the welfare bill and make some benefits conditional on work while warning that the NHS could collapse if social care is not fixed. He says there will be no early election and will defend Britain’s interests in dealings with the US, including Donald Trump.
The government has appointed a new Chancellor, Healey, while Prime Minister Burnham is moving to keep within fiscal rules. Analysts expect defence spending to rise and tax and welfare reforms to be debated as markets react to the new leadership. The government is balancing investment with debt concerns amid a tight public finances picture.
The government has scrapped the planned digital ID program, shifting funds to ease households’ electricity bills. Burnham’s administration says the move aims to provide relief amid rising living costs, and reverses Starmer’s earlier plan that faced widespread opposition and a large petition.
Britain’s new prime minister has named John Healey as finance chief and has unveiled measures to ease living costs, including cancelling the planned digital ID and suspending the electricity tax for six months. The government faces tough fiscal constraints as debt remains high and defense spending is set to rise.
A nationwide cap on single bus fares has been announced, reducing prices from £3 to £2 across England. Funding of £454 million supports the move, with some areas already operating lower caps. The plan is framed as easing the cost of living and is backed by government officials, who say the measure won’t burden taxpayers.
Prime Minister Burnham has set out a cost‑of‑living agenda, unveiling measures to ease households’ bills and launch a Northern Downing Street outpost. The plan includes VAT relief on energy, a bus fare cap, and funding to end rough sleeping, with details on funding and timelines updated as the government navigates fiscal constraints.
The Guardian and The Scotsman report on Keir Burnham and John Healey navigating a fragile balance between domestic priorities and international obligations. They have set plans to curb inflation, protect living standards, and rebuild manufacturing, while managing rising costs and global tensions. The government has pledged targeted support, with energy pricing reforms and housing measures, as inflation pressures persist.
The government has announced a bus fare cap for 2027 and says it is funded by switching parts of international climate finance from grants to loans, with about 400 million pounds reallocated. Critics warn this could raise debt for developing countries while supporters argue it eases domestic cost pressures.
Prime Minister Andy Burnham has announced a 20% business rates reduction for nearly 32,000 pubs, clubs and live music venues in England from April 2027, a package the government says will save a typical pub about £1,100 a year and cost roughly £100m. Ministers are proposing to fund it by reviewing reliefs for vape shops and cracking down on online tax non-compliance.
A UK-backed package aims to cut electricity VAT and redesign gas charges to lower bills and boost heat pumps. Nesta-backed proposals would shift some levies to general taxation, potentially cutting bills by about £130 annually; government policy remains uncertain as of today.
Consumer confidence has improved in July as heatwaves, football success, and the new prime minister boosted mood. However, overall sentiment remains negative, with the GfK index at -17, and gains rely on government delivery to tackle cost‑of‑living pressures.
As Labour’s Burnham forms a new government, cabinet changes place Ed Miliband as foreign secretary and Wes Streeting as defence secretary. Debates over arms sales to Israel and Gaza policy intensify, with critics calling for tougher action while supporters urge caution.
Independent, BBC, and CNBC report Shein posts a Q1 loss amid higher duties from US and EU, offset by price hikes and growth in active customers ahead of a Hong Kong listing. Citations show a mixed picture: revenue up slightly in Q1 but net income down due to accounting changes and tariffs.
The new prime minister has unveiled plans for social care reform, including a National Care Service and funding measures. He is seeking cross‑party support while vowing to avoid NHS collapse and to keep taxes within manifesto commitments. Early steps include targeted reliefs and bus and energy cost measures.
The government has announced a major reform aimed at reducing the number of Neets (young people not in education, employment or training). The plan includes earlier access to technical education for 14-year-olds and a broader shift to align technical routes with academic pathways. Data show about 1.01 million Neets in early 2026, a 6% rise from the previous quarter. Milburn’s 2025 report warned of a £125 billion potential economic hit if action is delayed.