A 2% minimum tax on households with over £100m in wealth could raise £10bn annually, affecting fewer than 1,000 of the richest UK households, according to academics urging Andy Burnham to adopt the measure.
John Healey inherits a politically non-survivable outlook for household incomes, little time to act, and a macroeconomic trap where wrong moves could worsen inflation and borrowing costs.
UK government borrowing fell to £16bn in June, below forecasts, as Andy Burnham announces VAT cut on electricity bills and vows fiscal discipline.
Exclusive Harris Poll for Guardian reveals Americans' assumptions about stock market and wider economy.
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Andy Burnham told his first cabinet meeting to explore all possible ways to help families with high costs, aiming to reduce cost-of-living pressures.
UK inflation likely eased to 2.7% in June, driven by falling petrol prices, but a 13% energy price cap rise in July will squeeze households.
Andy Burnham should cap bus fares, offer more free childcare, control rents and scrap the benefits cap to improve the cost of living, experts say.
David Beckham earned £19m from brand endorsements at the World Cup, surpassing the £11m bonus pool for England's squad and staff.
John Healey's appointment as Chancellor does not neutralise the danger of Andy Burnham's borrowing and spending instincts, says deVere Group CEO Nigel Green.
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The Tories warn Chancellor John Healey inherited an economy in 'dire straits' from Rachel Reeves, as UK unemployment holds at 4.9% and vacancies fall.
Labour has maxed out the nation's credit card as Andy Burnham takes office facing a borrowing crisis with debt at its highest in two decades, Tories warn.
Tax expert Dan Neidle explains that raising the personal allowance to £18,000 would cost £40bn/year, giving low earners only £2/week, while a NI cut would help more.
UK households can save up to £255 each by switching to a fixed energy tariff before October 1, when Andy Burnham removes 5% VAT on electricity bills, handing £45 average annual savings.
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Keir Starmer ally Darren Jones warns PM Andy Burnham his VAT cut on energy bills may have a funding black hole, as new Labour civil war erupts over scrapped digital ID scheme.
Prime Minister Andy Burnham has announced an £850 million tax cut on energy bills by scrapping VAT from October 1, saving households around £45. The move is funded by cancelling the digital ID project.
Prime Minister Andy Burnham has announced an £850 million VAT cut on energy bills, saving households around £45 from October 1, funded by scrapping the digital ID project.
UK government borrowing dropped to £16bn in June, down £7.9bn year-on-year, giving new PM Andy Burnham and Chancellor John Healey an early boost, though experts warn of tough fiscal challenges ahead.
Prime Minister Andy Burnham has axed key Starmer loyalists and appointed John Healey as Chancellor, sparking concerns over tax hikes and increased defence spending.
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The AMWU releases a 32-page manifesto for Labor's national conference, proposing wealth and inheritance taxes, free education, higher gas taxes, and nationalised aged care.
Argentina will celebrate a national holiday after their World Cup final loss to Spain, President Javier Milei announced, despite criticism of the team's tactics and post-match brawl that saw Leandro Paredes sent off.
From April 2027, most unused pension funds will be included in estates for Inheritance Tax. Research shows many homeowners underestimate their estate value, potentially exposing families to unexpected tax bills.
Incoming PM Andy Burnham suggests raising the UK personal tax allowance from £12,570 to £18,000, as a petition gains 38,000 signatures, pressing for change amid fiscal drag concerns.
Andy Burnham enters Number 10 with gilt yields at 5%, risking a bond market revolt. Debt interest costs £110bn annually, limiting fiscal room. Without an electoral mandate, his tax-and-spend plans spook investors.
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Incoming PM Andy Burnham hints at raising the £12,570 tax-free personal allowance after hearing it was the top issue on doorsteps in the Makerfield by-election, aiming to ease cost-of-living pressures.
Andy Burnham becomes the sixth PM in a decade after King Charles invites him to form a government. He will promise 'more breathing space' on cost of living in his first address.
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US President Donald Trump called the UK a 'poverty-stricken disaster' on Truth Social, claiming new North Sea drilling under Andy Burnham could make it one of the world's richest countries.
SNP Westminster leader Dave Doogan calls on incoming PM Andy Burnham to deliver an emergency cost-of-living budget to reverse damage under Labour, including tackling energy bills and reversing NI tax hike.
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Andy Burnham must be bold to fix big issues like living standards, public services, and migration. Renationalising Thames Water and confronting vested interests are key. Polls show Labour level with Reform.
