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295 headlines found — Page 14 of 25

The Guardian Politics23 Apr 2026

UK undershoots annual borrowing target by £700m

But Iran war likely to blow hole in Rachel Reeves’s carefully crafted fiscal ‘headroom’ in coming months The UK government came in below its annual borrowing target by £700m, official figures show – but the Iran war is likely to blow a hole in Rachel Reeves’s carefully calculated fiscal “headroom” over the coming months. The government borrowed a net total of £132bn for the financial year ending in March, the Office for National Statistics said. This slightly undershot the £132.7bn that the Offi

EconomyDefence
The Guardian Politics22 Apr 2026

Taxes on UK workers have risen at fastest rate in rich world, says OECD

Survey by global economic forum shows ‘tax wedge’ in Britain increased to 32.4% of income in 2025 Business live – latest updates Taxes on workers in Britain rose at the fastest rate among the world’s richest economies last year, according to the Organisation for Economic Cooperation and Development. With Labour under pressure on the economy amid the Iran war, the OECD said a key measure of the total tax paid by workers and their employers rose by the most in the 38-member club of rich nations

EconomyDefence
The Guardian Politics21 Apr 2026

As the PM’s fate lay in doubt, Labour MPs plotted the party’s future direction

Former ministers round on government’s fiscal rules and call for new policies on tax and the economy Less than a mile from the select committee room in Portcullis House where Olly Robbins held the prime minister’s future in his hands, Labour MPs were publicly workshopping how the party might look under new leadership. It came in the guise of the Good Growth Foundation’s conference, but felt like a Labour leadership beauty parade on Pall Mall. The former deputy prime minister Angela Rayner was a

PoliticsEconomy
The Guardian Politics21 Apr 2026

Airlines demand UK relax noise rules and cut flight tax as fuel shortage looms

Ministers also asked to alter compensation rights and suspend emissions trading scheme amid Middle East war Airlines are lobbying the UK government to relax environmental and noise rules, modify passenger rights and cut taxes on flying, as they prepare for higher costs and a possible shortage of jet fuel because of the war in the Middle East. A list of policy requests submitted to ministers and the aviation regulator includes suspending the emissions trading scheme and relaxing limits on night f

EconomyDefenceEnvironment
The Guardian Politics21 Apr 2026

UK and EU close in on agricultural deal to reduce Brexit barriers

Lords told sales of Scottish shellfish among areas that may benefit – but agreement will not erase all paperwork Europe live – latest updates A new agriculture agreement with the EU would not wipe out all Brexit paperwork but may greatly increase sales of Scottish langoustines and oysters, the House of Lords has heard. The UK and EU are close to finalising a sanitary and phytosanitary (SPS) agreement to reduce Brexit trade barriers, and while it will have “modest” impact on the UK economy the

PoliticsEconomy
The Guardian Politics21 Apr 2026

UK jobs market was in a fragile state – even before Iran war threatened recovery

Despite surprise fall in unemployment, weak wage growth and inflation pressures put the squeeze on workers UK unemployment shows surprise fall to 4.9% Business live – latest updates Despite a surprise fall in the unemployment rate, the latest jobs data show the labour market in a fragile state, even before the Iran war threatened to derail the UK’s nascent economic recovery. At 4.9% in the three months to February, the unemployment rate was down from 5.2% in the previous three months, accordi

EconomyDefence
The Guardian Politics20 Apr 2026

Electricity generators threatened with higher windfall taxes in bid to ensure stable prices

Move marks government’s most radical attempt to weaken impact of soaring wholesale gas prices on electricity costs Clean energy generation exceeded rise in global electricity demand in 2025 Electricity generators will face higher windfall taxes unless they sign up to long-term fixed-price contracts under government plans to protect bill payers from future gas market price shocks, as the Iran war pushes up energy prices. The Treasury will increase a windfall tax on excess profits made by electr

EconomyDefence
The Guardian Politics19 Apr 2026

Labour’s ‘crab-wise’ approach to closer EU ties must address damage of Brexit | Heather Stewart

The damage to the economy dwarfs the upsides from the various non-EU trade deals the UK has struck since 2016 Rachel Reeves joined EU finance ministers for dinner in Washington last week, on the sidelines of the International Monetary Fund spring meetings: the first time a chancellor had done so since Brexit. It was the latest symbolic step in Labour’s marked shift towards prioritising closer EU relations. Continue reading...

EconomyDefence
The Guardian Politics18 Apr 2026

‘It’s a twilight zone’: Iran war casts deep shadows over IMF gathering in Washington

Rachel Reeves joins global finance chiefs in highlighting how households and businesses are feeling the pain of higher energy prices The most severe energy shock since the 1970s, the risk of a global recession and households everywhere stomaching a renewed surge in the cost of living – hitting the most vulnerable hardest. In a sweltering hot Washington DC this week, the message at the International Monetary Fund meetings was chilling: things had been looking up for living standards around the wo

EconomyDefence
The Guardian Politics17 Apr 2026

Digested week: Hungary’s election result is rare good news in a depressing and surreal world | John Crace

Not least because JD Vance’s show of support for Viktor Orbán appears to have had opposite of desired effect So much of the news is depressing these days. The wars in Iran, Lebanon and Ukraine. The cost of living crisis. At times it feels as if the world has tipped into the surreal. Donald Trump posting photos of himself on his Truth Social account as the Risen Christ. A step too far even for Nigel Farage. And the US president picking a fight with the pope. Leo is a terrible man, apparently, for

PoliticsEconomyDefenceReformHousing
The Guardian Politics17 Apr 2026

Birmingham is awash with local election candidates – but will result be a ‘coalition of chaos’?

Some fear a fragmented field of hopefuls from Labour, the Conservatives, Greens, Reform and Independents could leave city ungovernable Paul Tilsley was 23 when he was first elected for the Liberal party in Birmingham’s 1968 council elections. At the time, the UK had an unpopular Labour government facing an economic crisis, tensions around immigration and US pressure to back military action abroad. Such a backdrop may seem familiar, but this May, the all-out local elections in Birmingham could no

PoliticsEconomyImmigrationDefenceEnvironment
The Guardian Politics17 Apr 2026

A question for those desperate to cut benefits to fund defence: who exactly are you willing to impoverish? | Polly Toynbee

George Robertson has joined Reform and the Tories in making the case. Look welfare recipients in the face and say that The benefits budget is now a magic money tree. Whenever Conservatives or Faragists make wild promises – tax cuts, more police, more punishment, more bonuses for marriage – and are asked how they would pay, the answer is always “welfare”. The sums are enormous. “Only the Conservatives will cut welfare spending by £23bn and get Britain working again,” the party insists. More unex

EconomyDefenceCrime