Chancellor Rachel Reeves said she’s reached agreement with all of her UK cabinet colleagues on their spending allocations for next week’s budget, following tensions with some senior ministers over cuts planned for their departments.

British finance minister Rachel Reeves faces a tough task to raise the tax revenues she needs to invest more in public services and new infrastructure in her Oct. 30 budget.

In the 2023/24 tax year, savers were fined around £15 million of their own money when withdrawing funds from their LISA – the largest annual amount since LISAs launched in 2017. We estimate that around £1.8 million of that was taken from savers who still bought a first home, just one over the limit.

Chancellor Rachel Reeves says she has now reached spending settlements with all government departments ahead of her much-anticipated Budget on 30 October. It comes after reports of Treasury rows with multiple departments over the expected scale of spending cuts.

Sir Keir Starmer’s government was hit by another day of Budget confusion after Labour was bounced into conceding that individuals earning above £100,000 are still “working people”.On a day when the prime minister had hoped to get a grip on the political agenda with the launch of a major consultation over the future of the NHS,