Chancellor Rachel Reeves said in November that £150 would be cut from the average household bill from April.

Chancellor Rachel Reeves is scheduled to deliver an update on the UK economy, known as the Spring Statement, on March 3, accompanied by an economic forecast.

UK budget surplus hits record in January and retail sales rose, while private sector activity is strengthening in February UK reports record-breaking budget surplus of £30.4bn in surprise boost for Rachel Reeves Art and antiques help lift retail sales in Great Britain to biggest monthly rise since 2024 The jump in tax receipts last month may show that UK government receipts are starting to get the boost from inflation and wage growth earlier in the year. Nick Ridpath, research economist at the Institute for Fiscal Studies, says: Today’s data on the public finances is particularly important, given the outsized impact of January’s self-assessment returns on revenues and borrowing for the year as a whole. Income tax receipts had been a little disappointing over 2025, lagging behind forecasts even as inflation and wage growth exceeded expectations. But today’s data shows that self-assessment revenues in January were almost £2bn (6%) higher than forecast. Mail order retailers, which are predominantly online, experienced a boost from retailers selling sports supplements, as well as continued strong sales volumes by online jewellers. Comments from jewellers reported that demand had hit unprecedented levels. Continue reading...

This is the moment that Rachel Reeves was heckled by a member of the public during a visit to Sainsbury’s.

UK Chancellor Rachel Reeves is set to deliver a 'boring' Spring Statement, aiming to reassure businesses that her economic plan is yielding positive results.

Labour MPs may clamour for bolder spending, but – like their Tory and Reform counterparts – they ask for the unaffordable Too many Labour MPs want it all, and no amount of pleading from the top of government about the depleted public finances seems to make a difference. The mainly leftist MPs want all the wrongs of the last 15 years put right and quickly. Their next opportunity to demand more cash arrives when Rachel Reeves delivers her spring statement on 3 March. Continue reading...

Largest January total since records began in 1993 is sharp reversal from December’s £11.6bn deficit The UK government has posted the biggest ever budget surplus, official figures show, after a large boost in self-assessment and capital gains tax receipts. In a boost for the chancellor, Rachel Reeves, in the run-up to her spring statement next month, public sector finances recorded a surplus of £30.4bn at the start of the year, according to the Office for National Statistics (ONS). This was £15.9bn higher than the surplus recorded in January 2025. Continue reading...

Consultancy forecasts a nearly £117 annual reduction in household energy bills in Great Britain, following Rachel Reeves' announcement to remove green subsidy costs from domestic bills.

Chancellor Rachel Reeves is scheduled to provide an update on her plans for the UK economy, alongside an economic forecast, during the upcoming Spring Statement on March 3.

The UK economy is showing signs of improvement with stronger retail sales and business activity, providing a springboard for Rachel Reeves' March statement.

A more significant than anticipated drop in net migration is projected to add £3 billion to the UK's national borrowing, according to Chancellor Rachel Reeves.

Shadow Chancellor Rachel Reeves has stated that a Labour government would not immediately increase defence spending, indicating a cautious approach to fiscal policy.