#public-finance

#public-finance

UK government borrowing costs surged as speculation over Rachel Reeves's role as chancellor intensified. City investors flagged a multibillion-pound deficit due to Labour's welfare policy reversal.

The party is writing to all Labour MPs this week asking them to join forces in a push for a much more comprehensive deal with Brussels, arguing that this would help revive the public finances.

"Bologna's reliance on private credit during the communal period reveals a unique financial structure compared to other Italian cities, highlighting the elite's role in public finance."

The IRS is effectively the government's accounts-receivable department. Staffing cuts set up the IRS to lose money in two ways, as Natasha Sarin explains.

Asking the international money markets to lend the UK more money was like a free lunch in the years after the 2008 financial crash.

Rachel Reeves' government aims to cut costs through changes to winter fuel payments for pensioners, yet new analysis reveals projected savings may be overstated due to rising pension credit claims.

Jessica Barnaby, the ONS deputy director for public sector finances, stated, "July borrowing was almost 2bn higher this year than in 2023. Revenue was up on last year, with income tax receipts in particular growing strongly. However, this was more than offset by a rise in central government spending where, despite a reduction in debt interest, the cost of public services and benefits continued to increase."