Voters’ verdict: Tax hikes breach manifesto and Reeves should resign December 1, 2025 Chancellor Rachel Reeves should resign following a decision to extend the freeze on income tax thresholds in a move seen by voters as a breach of Labour’s manifesto, new polling has revealed. The government is facing intense pressure over the way it conducted economic policymaking, with questions lurking over a potential breach of the Labour [...]
Starmer denies misleading public as fresh row with OBR erupts December 1, 2025 Prime Minister Keir Starmer has denied accusations that Chancellor Rachel Reeves misled cabinet colleagues – and the country – over the state of public finances in the lead-up to the Budget as tax rumours hinged on the belief that there was a £30bn shortfall in the fiscal headroom. In a press conference at a nursery [...]
Why is Labour refusing to use its own power? December 1, 2025 A landslide victory in a centralised government gives Labour great political power, yet Keir Starmer seems reluctant to use it, writes John McTernan.
FTSE 100 Live: Starmer denies Budget ‘misleading’ as Reeves on brink December 1, 2025 Good morning and welcome back to the City PM liveblog. It was quite the Budget week to end November and for many more questions were created than answered. Whilst Labour might’ve hoped it would be be their rallying moment – with the lifting of the two-child benefit cap and doubling of the Chancellor’s fiscal buffer [...]
UK manufacturing edges into growth territory for first time in over a year December 1, 2025 UK manufacturing has edged into growth territory for the first time in over a year following months of struggle piling onto the sector. The S&P Global UK Manufacturing Purchasing Managers’ Index™ (PMI) hit a 14-month highof 50.2 in November, up from 49.7 in October. This placed the industry above the all-important 50 mark which indicates [...]
Markets responded positively to Budget, says Peel Hunt chief December 1, 2025 The boss of one of London’s best-known investment banks has shrugged off concerns over the Budget, suggesting that the tax-raising plans pleased financial markets. Peel Hunt CEO Steven Fine said markets viewed the state of the UK’s finances as “quite stable” following the Budget, pointing to a rise in the government’s fiscal headroom which helped [...]
Former City minister Tulip Siddiq sentenced to two years over corruption charges December 1, 2025 Labour’s Tulip Siddiq has been found guilty by a Bangladesh court of influencing ousted Prime Minister Sheikh Hasina her aunt, to obtain plots of land on the outskirts of Dhaka. When Labour won power in July, Siddiq was appointed economic secretary to the Treasury and City minister. However, less than five months into her ministerial [...]
Revolut in new spat with regulators over Storonsky’s residency December 1, 2025 Revolut has been caught in a fresh row with UK watchdogs following the chief executive of the fintech juggernaut shifting his residency to the United Arab Emirates. Nik Storonsky, the boss of the London-headquartered digital bank, sparked waves of conversation after Companies House filings in October revealed the fintech chief had ditch his main residency [...]
Class actions surge in UK, but public sees lawyers as main winners December 1, 2025 Public awareness of class actions in the UK has reached the highest level since 2020, with the majority of the public believing they make money for law firms and litigation funders. A new report by Portland, shared exclusively with City PM, found that public awareness of class actions in the UK has reached 27 per [...]
Business confidence drops to post-pandemic lows after Budget December 1, 2025 Business confidence in bosses’ own organisations fell to the lowest level in over five-and-a-half years after the Budget, a leading survey has suggested, as the absence of growth policies in Rachel Reeves’ statement dampened leaders’ moods. The Institute of Directors’ monthly survey indicated bosses were fearing for the worst after last Wednesday’s much-anticipated event, with [...]
