Tag: Rachel Reeves

• Monday, March 9th 2026 - 17:04 UTC

  UK warns of higher inflation and backs oil reserve release amid Middle East war

  

  British finance minister Rachel Reeves said on Monday that the United Kingdom was ready to support a coordinated release of international oil reserves if the Middle East crisis keeps pushing up energy prices, though no formal G7 decision has yet been taken. Reeves made the statement after joining a virtual meeting of G7 finance ministers, as oil prices remained elevated because of disruption to shipping through the Strait of Hormuz. Reuters reported that the option under discussion is a joint emergency stock release under the International Energy Agency framework.

• Wednesday, November 26th 2025 - 09:15 UTC

  UK Labour has plans to relax restrictions on oil and gas drilling in the North Sea

  

  London media reports indicate that the UK Labour Government has Plans to relax restrictions on new oil and gas drilling in the North Sea, the proposition should be announced this Wednesday under the government's North Sea Strategy.

• Monday, November 24th 2025 - 19:31 UTC

  London tax for visitors, if Parliament passes community empowerment bill

  

  Visitors to London could soon be paying extra, if they stay overnight in hotels or Airbnb style accommodation by paying a tourist tax. The extra cost could raise hundreds of millions of pounds for mayors to spend on local public transport services as soon as the 2027/28 financial year.

• Thursday, November 20th 2025 - 18:37 UTC

  UK inflation down to 3.6% in October; Autumn Budget to be announced next week

  

  UK’s twelve-month inflation rate slid to 3.6% in October, down from 3.8% in September, and a major achievement ahead of the government’s Autumn Budget next week, according to the Office for National Statistics. Core inflation, excluding energy, food, alcohol and tobacco, rose by 3.4% in the year to October, down from 3.5% in September.

• Thursday, August 21st 2025 - 10:36 UTC

  Stubborn inflation in UK, 3.8% in twelve months to July with air fares, fuel and food prices leading

  

  The U.K.’s annual inflation rate was higher than expected at 3.8% in July, according to data released by the Office for National Statistics (ONS) on Wednesday. Most economists had anticipated inflation would reach 3.7% in the twelve months to July, after it picked up to 3.6% in June, exceeding forecasts.

• Tuesday, July 15th 2025 - 06:39 UTC

  Bank of England ready to make larger interest rate cuts if UK economy shows signs of slowing down

  

  The Bank of England is prepared to make larger interest rate cuts if the job market shows signs of slowing down, Governor Andrew Bailey told The Times in an interview. “I really do believe the path is downward” on interest rates, Mr Bailey was quoted..

• Saturday, May 31st 2025 - 13:52 UTC

  British Family concern with Darwin Plus suspension and possible axing of vital conservation funds

  

  Environmentalists, UK MPs and the same British Overseas Territories fear that Chancellor Rachel Reeves could be axing a vital fund, some £10 million to the Darwin Plus scheme, which is essential for scientific research in places such as the Falkland Islands and South Georgia.

• Thursday, December 19th 2024 - 09:22 UTC

  Spanish shipbuilder expected to announce it is taking over Harland and Wolff

  

  A Spanish state-owned shipbuilder is expected to confirm this Thursday that it is buying Harland and Wolff, the Belfast shipyard best known for having built the Titanic. Harland and Wolff was once mentioned as a possible builder of the Falkland Islands new port terminal, the largest Islands’ capital investment.

• Thursday, October 31st 2024 - 19:21 UTC

  UK Office for Budget Responsibility, new government increases spending by £70bn annually for the next five years

  

  A quick analysis by the Chair from the UK Office for Budget Responsibility, Richard Hughes, on the Budget announced to Parliament on Wednesday by Chancellor of the Exchequer, Rachel Reeves MP.

• Wednesday, July 31st 2024 - 08:00 UTC

  Labour anticipates a tax increase to fill a £22bn Tory “hole” in UK public finances

  

  UK Labour chancellor Rachel Reeves anticipated that the government of PM Keir Starmer will have to raise some taxes in October's Budget, following the claim on Monday that the previous Tory government left a £22bn “hole” in the public finances.