Category Archives: rachel reeves

How Is The Government Trying To Ease The Rising Cost Of Living?

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Labour has announced a raft of measures to help alleviate the soaring cost of living for Brits this week.

It comes as Donald Trump’s war against Iran, and the subsequent blockade of the Strait of Hormuz, continues to impact the global economy.

The waterway usually transports around 20% of the world’s oil and 25% of its liquefied national gas supplies, meaning its effective closure has hit energy-dependent countries everywhere.

A food security crisis is looming as a result, and the UK’s household energy price cap is expected to rise by £209 a year from July.

Here’s a look at measures the government has already announced and what chancellor Rachel Reeves is expected to unveil later on Thursday in her “Great British Summer Savings” scheme.

5p Cut On Fuel Duty

The government announced on Wednesday that it will keep the current 5p cut on fuel duty until the end of the year.

The reduced tax rate for petrol and diesel was meant to be phased out in September.

The policy was announced by the previous Conservative government to help ease the impact of the Russia’s invasion of Ukraine in 2022.

Now, with a fresh energy crisis emerging from the Middle East conflict, the government has decided to extend the scheme.

Red diesel duty will also be cut by one-third and road hauliers will receive a year’s grace on road tax to help the farming community.

Free August Travel For 5-15 Year-Olds

Children will travel for free on participating local buses in England for one month over the summer, Reeves announced on Wednesday.

The £100 million fare-free scheme will save a family with two children who make a weekly return trip at £1.50 per fare approximately £27, according to the government.

Those eligible can take an unlimited number of trips and do not need to register to enjoy the perk.

Similar schemes were successfully trialled in the West of England throughout the summer, Easter and Christmas holidays.

Tariff Suspension On Supermarket Goods

The chancellor is expected to announce plans to suspend tariffs on certain supermarket goods on Thursday.

Tariffs – import taxes on goods paid by companies in the supply chain – will be lifted on more than 100 types of products, including biscuits, chocolate, dried fruit and nuts.

Supermarkets will then have to pass that saving onto product prices so shoppers can enjoy a price cut.

The full list of products will be published next week but the scheme is expected to save consumers more than £150 million a year.

What About Supermarket Price Caps?

There were reports the government was going to force price caps to supermarkets to try to keep the price of essential products – like eggs, bread and milk – down.

However, even the idea of a voluntary scheme was dismissed by the supermarket sector.

Marks & Spencer’s chief executive, Stuart Machin, said the idea was “completely preposterous”.

There were fears that could lead to shortages on shelves and trigger pressure throughout the supply chain.

Is This Enough?

These measures might improve summer, but there is more pain around the corner.

While inflation did fall this week, it is expected to rise as the conflict in the Middle East triggered sky-high fuel prices.

The Office for National Statistics announced that Consumer Prices Index inflation fell to 2.8% in April, down from 3.3% in March, which is the lowest rate since March 2025.

However, that was driven by regulator Ofgem reducing the energy price cap from the start of April by £10 a month.

The energy price cap is expected to increase significantly from July, too, from the current rate of £1,641 per year to £1,850 for a typical dual fuel household, according to predictions.

But the chancellor will wait until September before finalising any package of targeted support for households in winter when energy use increases.

Ministers are also trying to avoid offering a universal bailout for all households so as not to drive up an increase in government borrowing costs and inflation, leading to the kind of economic disaster seen under Liz Truss.

The government insists it is offering “practical steps that help right now”.

Prime minister Keir Starmer said: “We know many hard‑working families are still feeling the squeeze and too often think they have to hold back.

“By giving every child free bus travel throughout August and cutting tariffs on everyday food items, we’re putting money back into people’s pockets and making life that bit easier.

“This government is focused on practical steps that help right now — easing pressure on household budgets, supporting parents during the school holidays, and backing British businesses.”

Subscribe to Commons People, the podcast that makes politics easy. Every week, Kevin Schofield and Kate Nicholson unpack the week’s biggest stories to keep you informed. Join us for straightforward analysis of what’s going on at Westminster.

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Starmer’s Brexit Gamble: Will Labour Pay The Price For PM’s Desire For Closer EU Ties?

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Keir Starmer loves the European Union. It is not controversial to point this out.

Few, if any, MPs did more to overturn the result of the 2016 Brexit referendum than the member for Holborn and St. Pancras.

As Labour’s shadow Brexit secretary, Starmer led the charge – often against intense resistance from his own party colleagues – for a second referendum, and made no secret of the fact he would campaign to stay in the EU if it ever happened.

In the end, Jeremy Corbyn’s decision to support Boris Johnson’s call for a snap election in 2019 put paid to Starmer’s dream.

Johnson won a landslide victory and took the UK out of the bloc on January 31, 2020.

This neatly coincided with the Labour leadership contest, which Starmer won with a promise to “defend free movement as we leave the EU”.

That pledge, alongside the other nine he made during that campaign, were all quickly ditched once he was in post.

Indeed, the return of free movement remains a “red line” the government says it will not cross, alongside a return to the EU’s single market and customs union.

These positions were seen as a tactical necessity ahead of the 2024 election, for fear of angering the millions of previously-Labour voters who backed Brexit in 2016 and then Johnson’s Tories three years later.

Nevertheless, the prime minister and other senior government figures now feel emboldened enough to criticise Brexit and openly talk about seeking closer ties with the EU.

On Wednesday, Starmer was unequivocal.

Brexit “did deep damage to our economy”, the PM said, adding that the economic turmoil caused by the Iran war meant “the opportunities to strengthen our security and cut the cost of living…. are simply too big to ignore”.

Donald Trump’s relentless attacks on the UK, and Starmer, have weakened the trans-Atlantic alliance, giving Starmer more political cover to pursue a deeper relationship with Brussels.

“It is increasingly clear that as the world continues down this volatile path, our long-term national interest requires closer partnership with our allies in Europe and with the European Union,” he said.

His comments echo those of Rachel Reeves, who set out her aim of “breaking down trade barriers and deepening alliances with our European partners” as she delivered the Spring Statement a month ago.

Negotiations between the UK and EU are already taking place on youth mobility, food and drink, and the emissions trading scheme, with agreement set to be reached in time for a summit to be held in the summer.

A government source said: “The lightbulb moment happened for Europe with Trump’s Greenland stuff. He wound up the Danes and all of us with that stuff. Iran has made it all the more prescient.

“It gives us an opportunity to step up a programme that will help resilience across the EU, but which will also be in the UK national interest and benefit Britain.”

Keir Starmer speaking at the Russell Square Rally against Brexit on August 31, 2019.
Keir Starmer speaking at the Russell Square Rally against Brexit on August 31, 2019.

Nicola Tree via Getty Images

However, some in Labour believe the race to improve relations with the EU could come at a political cost, with the elections on May barely a month away.

One senior party figure told HuffPost UK: “I can see this appearing on every Reform leaflet in the country.

“Why do it about a week or two before the postal votes go out? Election day is not on May 7, it’s in a couple of weeks time when the postal votes go out, and all the Reform Facebook groups will be featuring this strongly.”

But a government insider rejected the suggestion that voters will seek to punish Labour for trying to cosy up to the EU.

“What we’ve tried to do since the general election is take voters on a bit of a journey and show that we are making deals that help our economy while still being true to spirit of Brexit.

“We’re sticking to our red lines on the single market and customs union, and getting a bespoke relationship with the EU while making use of our Brexit freedoms as well.

“People are not happy with the deal Johnson agreed, and can can make that link between issues at the border and prices on the shelves.

“People want to see the UK to go out and make deals with the EU while sticking to our red lines. Voters have moved on from 2016, they don’t want to relitigate the Brexit debate all over again.”

This view was supported by one Labour MP, who said: “Brexit was ten years ago. The government’s been firm in its EU red lines and is doing nothing which would undermine them.

“It’s the cost of living, precipitated by Trump’s war on Iran, which is fore of people’s minds. Set against the backdrop of increasing global uncertainty, striking a closer relationship with the EU is all the more important if it can bring down the cost of the weekly shop and reduce barriers for British businesses.”

Unsurprisingly, Reform UK have sought to capitalise, accusing the PM of betraying the 2016 result.

Deputy leader Richard Tice said it was “ludicrous” to suggest Britain should have closer ties to “a failing economic bloc that also has a long track record of failing to invest in defence”.

But Nick Thomas-Symonds, the Cabinet Office minister leading the EU negotiations told HuffPost UK: “Reform is betraying the future of young Brits.

Between Robert Jenrick axing EU travel for young people and Farage shredding trade deals, they’d rather pick a fight with Europe than protect people’s household finances.

“They’re obsessed with a harder Brexit that hits every household with a massive paperwork tax.”

Subscribe to Commons People, the podcast that makes politics easy. Every week, Kevin Schofield and Kate Nicholson unpack the week’s biggest stories to keep you informed. Join us for straightforward analysis of what’s going on at Westminster.

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Rachel Reeves Admits She Is ‘Angry’ With Trump For Starting War In Iran

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Chancellor Rachel Reeves has admitted she is “angry” at Donald Trump for starting the war in Iran.

Iranian troops have effectively closed the Strait of Hormuz ever since the US president decided to bomb Iran in late February.

Closing the major oil shipping lane has sent oil prices rising and rocked the global economy.

The president has attacked allies, particularly the UK, for not supporting his efforts.

He has called the Royal Navy “too old” and threatened to pull out of Nato after claiming the defence organisation has not given him “automatic” backing.

But Keir Starmer has held his own, reiterating on Wednesday that Britain would not be “dragged” into the conflict – while also warning that economic strains lie ahead.

Speaking to Radio 2′s Jeremy Vine, Reeves went further and said she was “angry” over Trump’s decision to bomb Iran.

She said: “I’m angry that Donald Trump has chosen to go to war in the Middle East – a war that there’s not a clear plan of how to get out of it.

“It’s why we didn’t want to enter this.

“Yes it will have implications for our economy, I get that.

“We are monitoring very closely what’s happening – trying to bring the oil and gas into the UK so that those supplies are there and get the prices down. We are monitoring the situation very carefully.”

“We are preparing – as you would expect me to be – for every single eventuality to make sure there alongside people, standing beside them, keeping costs down for everyone.”

The White House is trying to find an off-ramp to end the conflict and Trump claims Iran has asked for a ceasefire.

The president also told Reuters that the US will be “out of Iran pretty quickly” now Iran are supposedly “incapable” of using a nuclear weapon.

Iran has denied the claim and say the strait is “fully” under the control of the Islamic Revolutionary Guard Corps (IRGC).

Subscribe to Commons People, the podcast that makes politics easy. Every week, Kevin Schofield and Kate Nicholson unpack the week’s biggest stories to keep you informed. Join us for straightforward analysis of what’s going on at Westminster.

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Analysis: Rachel Reeves Was In Punchy Form – But War In The Middle East Could Ruin Her Economic Plans

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Rachel Reeves looked as though she was enjoying herself as she took aim at Labour’s political opponents while delivering her Spring Statement.

With no new policies to announce, the chancellor decided to use a decent chunk of her time at the despatch box attacking Reform UK, the Conservatives and the Green Party.

“The Tories left our country, our people and our allies exposed: They had no plan and no intention to fund their pledge to spend 2.5% of GDP on defence,” she said.

“Reform would go one step further by ditching our allies and siding with Russia, while the Green Party wants to take us out of Nato and jeopardise our alliances.

“So let me be clear: It is Labour and only Labour that can provide social justice, national security and fiscal responsibility.”

In another section, she dismissed Reform as “a Tory tribute act” following the defections of the likes of Robert Jenrick and Suella Braverman.

“They may have changed the colour of their rosettes, but the British people won’t forget that they are the exact same people that wrecked our public services and wrecked our public finances in the last Tory government,” she said.

“The same people, the same policies and the same disastrous outcomes for working people.”

But behind the political knockabout, the chancellor must know that the fate of the UK economy – and perhaps even the Labour government – depends on the outcome of the latest war in the Middle East.

The Office for Budget Responsibility (OBR) may have forecast that inflation will come down, but that was before the US and Israel’s bombing of Iran sparked an energy crisis which has seen gas prices soar in the past 48 hours.

If that ends up feeding through into people’s bills, Labour will pay a huge political price.

The same goes for the OBR’s forecasts on economic growth, as well as government borrowing and national debt.

A prolonged conflict in the Middle East, and the accompanying economic turmoil which would ensue, would blow another huge hole in the already-stretched public finances.

With unemployment set to be higher than expected this year and the tax burden set to hit another post-war high, yet more economic uncertainty is the last thing the chancellor needs.

“This government has the right economic plan for our country,” Reeves insisted.

“A plan that is even more important in a world that in the last few days has become yet more uncertain.

“With the unfolding conflict in Iran and the Middle East, it is incumbent on me and on this government to chart a course through that uncertainty, to secure our economy against shocks and protect families from the turbulence that we see beyond our borders.”

She may have talked a good game, but the chancellor knows that events thousands of miles away have the potential to destroy her economic plans and plunge the government into political crisis they may not recover from.

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Rachel Reeves Accused Of Misleading Voters Over State Of UK Economy Ahead Of Budget

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Rachel Reeves has been accused of misleading voters by claiming there was a huge hole in the government’s finances which did not actually exist.

Treasury officials briefed that the chancellor needed to raise around £20 billion in the Budget to balance the nation’s books.

Reeves herself even held a highly-unusual pre-Budget press conference in Downing Street on November 9 in which she refused to rule out putting up income tax – a move which would have broken a key Labour manifesto pledge.

Later that week, she told Radio 5Live that deep cuts in public spending would be needed if she did not increase income tax rates.

But days later the Financial Times revealed that Reeves had decided not to put up income tax rise after all.

Treasury sources said that was because the Office for Budget Responsibility’s (OBR) forecasts showed the economy was in better shape than previously thought.

But figures released by the OBR on Friday showed that fully two weeks before that U-turn, their assessment was that there was no black hole at all.

Reeves hiked taxes by £26 billion in the Budget as she massively increased public spending, including on welfare.

Tory leader Kemi Badenoch said the chancellor had “lied to the public” and should be sacked.

Posting on X, she said: “Her Budget wasn’t about stability. It was about politics: bribing Labour MPs to save her own skin. Shameful.”

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Yet more evidence, as if we needed it, that the Chancellor must be sacked. For months Reeves has lied to the public to justify record tax hikes to pay for more welfare.

Her Budget wasn’t about stability. It was about politics: bribing Labour MPs to save her own skin. Shameful. https://t.co/fR1dNgeUKp

— Kemi Badenoch (@KemiBadenoch) November 28, 2025

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Yet more evidence, as if we needed it, that the Chancellor must be sacked. For months Reeves has lied to the public to justify record tax hikes to pay for more welfare.

Her Budget wasn’t about stability. It was about politics: bribing Labour MPs to save her own skin. Shameful. https://t.co/fR1dNgeUKp

— Kemi Badenoch (@KemiBadenoch) November 28, 2025

Treasury sources denied Reeves had misled the public, and said the OBR calculations had not taken account of things like the government’s decision to reinstate winter fuel payments for pensioners, and the chancellor’s decision to give herself more fiscal headroom, or spare cash.

“I don’t think anyone can suggest she was preparing the country for something that didn’t end up happening,” said one Reeves ally.

A Treasury spokesperson said: “We are not going to get into the OBR’s processes or speculate on how that relates to the internal decision‑making in the build‑up to a Budget, but the chancellor made her choices to cut the cost of living, cut hospital waiting lists and double headroom to cut the cost of our debt.

“We take Budget security extremely seriously and believe it’s important to preserve a private space for Treasury–OBR policy and forecast discussions, so we welcome the OBR’s confirmation that this will not become usual practice.”

However, social media users reacted angrily to the OBR’s figures.

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So…the “blackhole” never existed after all.

There’s spin and then there’s flat-out deception.

Could be a long weekend in No11… https://t.co/5gQdtEpatz

— Tom Swarbrick (@TomSwarbrick1) November 28, 2025

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So…the “blackhole” never existed after all.

There’s spin and then there’s flat-out deception.

Could be a long weekend in No11… https://t.co/5gQdtEpatz

— Tom Swarbrick (@TomSwarbrick1) November 28, 2025