The central bank said that future cuts would be gradual after spending increases were introduced in the government’s new budget.
Category: Labour Party (Great Britain)
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U.K. Budget Makes a Big Bet on Spending for Growth
The Labour Party is betting that extra spending on public services and more investment will eventually revitalize the country’s stagnant economy.
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UK Budget: Labour Party to Raise Capital Gains and Inheritance Taxes
Rachel Reeves, the new finance minister, announced substantial tax increases in her first budget as she sought to strengthen public finances and services.
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UK Budget: What to Know Before Labour’s Announcement
The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its budget this week.
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Britain Braces for ‘Painful’ Budget Meant to Recharge the Economy
The new Labour Party government said it had inherited a challenging financial position and warned of tax increases and spending cuts when it reveals its budget this week.
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Greener Steel at Britain’s Largest Plant Comes With Heavy Job Losses
The British government and Tata of India said they would invest 1.25 billion pounds in a plan to convert the steel mill at Port Talbot in Wales to an electric furnace.
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To Solve Its Housing Crisis, Britain Turns to an Old Idea: New Towns
By reviving an idea from the 1940s, the Labour Party government is hoping to overcome the development hurdles that have plagued previous efforts with a plan to build new communities.
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Chancellor Rachel Reeves Axes Projects After Reviewing $28 Billion Budget Hole
Rachel Reeves, the chancellor of the Exchequer, cut some infrastructure funding and pensions benefits, adding that more “difficult decisions” would come later this year.
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U.K. Climate Change Committee Urges Speed in Cutting Emissions
A report by a government body that oversees efforts to reduce greenhouse gases will help underpin the Labour Party’s plans to accelerate renewable energy and other measures.
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To Revitalize Britain’s Economy, a Plan for a Stronger Government Role
The Labour Party’s economic agenda, like many other programs around the world, puts political leaders more firmly in charge of industrial policy.
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Britain Has Huge Clean Energy Ambitions, but Are They Realistic?
Analysts warn that the Labour Party’s proposals are unlikely to be cheap and could come at the cost of jobs in the oil and gas industry.
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Rachel Reeves, Britain’s First Female Chancellor, Turns to Janet Yellen for Inspiration
Rachel Reeves, who will oversee Britain’s budget, is expected to pursue an agenda influenced by Janet Yellen’s more activist approach to job-creation and investment in the United States.