Rachel Reeves refuses to rule out Autumn Budget tax rises as economy shrinks 0.3% in April - Latest GDP estimate worse than the 0.1% fall expected by economists

The Institute for Fiscal Studies has warned Rachel Reeves that any more bad economic news will “almost certainly” spark fresh tax rises. Council tax will already have to rise at its fastest rate in a generation,

The UK economy shrank by 0.3% during April after Donald Trump imposed sweeping tariffs on foreign imports, official numbers show. It’s a blow to Rachel Reeves, who tried to splash the cash for government departments in her spending review yesterday.

However, the Chancellor repeated her promise that she would not need to increase taxes on the same scale as last year.

Policies risk creating “a snowball effect” that pushes Britain’s £105 billion-a-year interest payments higher, experts told CNBC.

Chancellor Rachel Reeves has blamed April's "disappointing" GDP figures on trade tariffs imposed by Donald Trump whilst defending her government's tax increases. Speaking to GB News, the Chancellor acknowledged the economic data was unsatisfactory but attributed the weakness to external factors rather than domestic policy decisions.

A funding summit is to be held to examine ways of securing the cash needed to build a swimming pool-led leisure centre in Peterborough.Leaders from political, education and sports organisations are up against a summer deadline to present a business and funding case for an Olympic-grade pool and leisure hub to Government officials.

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