A £14bn proposal aims to shore up public finances amid concerns over potential tax rises, further welfare cuts and Whitehall savings, while a looming trade standoff threatens to erode billions of fiscal headroom.
Rachel Reeves announces a £2.2bn uplift in defence spending, underpinned by promises of economic security and adjustments to foreign aid and welfare in order to tackle looming fiscal challenges.
Donald Trump has threatened nations purchasing Venezuelan oil with a 25% import tariff, fuelling global economic concerns and uncertainty in energy markets.
Economic measures from the US administration have rattled global investors, causing a rare dip in both shares and the dollar while undermining confidence in longstanding assumptions about the nation’s fiscal resilience.