Rachel Reeves' reversal on income tax hikes sent UK gilt yields up 10-15 bps and stocks down, undermining investor trust ahead of the Autumn Budget 2025, as markets react to a £20bn fiscal gap and a patchwork of alternative taxes.
Category: UK Politics
Angela Rayner resigned as UK Deputy Prime Minister and Housing Secretary after a report found she breached the Ministerial Code over underpaid stamp duty. It capped a rapid ascent from care worker and union organizer to one of the most powerful figures in government. Police had earlier cleared her over a separate capital gains tax row. Her fall leaves Labour’s housing agenda in flux.