Britain’s Treasury chief warned Monday that wars in Ukraine and the Middle East and economic headwinds sparked by US President Donald Trump’s tariffs have worsened the UK’s economic outlook since the governing Labour Party won power last year.
Chancellor of the Exchequer Rachel Reeves is under pressure to say whether she will raise taxes in her autumn budget on November 26.
“In the last year the world has changed, and we are not immune to that change,” she told the BBC. “Whether it is wars in Europe and the Middle East, whether it is increased barriers to trade because of tariffs coming from the United States, whether it is the global cost of borrowing, we’re not immune to any of those things.”
Reeves hopes to deliver a touch of economic optimism when she addresses the Labour Party’s annual conference in Liverpool later on Monday.
Since ending 14 years of Conservative rule in July 2024, the Labour government has struggled to deliver the economic growth it promised. Inflation remai​Britain’s Treasury chief warned Monday that wars in Ukraine and the Middle East and economic headwinds sparked by US President Donald Trump’s tariffs have worsened the UK’s economic outlook since the governing Labour Party won power last year.
Chancellor of the Exchequer Rachel Reeves is under pressure to say whether she will raise taxes in her autumn budget on November 26.
“In the last year the world has changed, and we are not immune to that change,” she told the BBC. “Whether it is wars in Europe and the Middle East, whether it is increased barriers to trade because of tariffs coming from the United States, whether it is the global cost of borrowing, we’re not immune to any of those things.”
Reeves hopes to deliver a touch of economic optimism when she addresses the Labour Party’s annual conference in Liverpool later on Monday.
Since ending 14 years of Conservative rule in July 2024, the Labour government has struggled to deliver the economic growth it promised. Inflation remai ​Latest News [ SOBAN NEWS: International and National ]
