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UK Finance Minister Rachel Reeves makes a speech during the Labour Party Conference that is held at the ACC Liverpool Convention Center in Liverpool, UK on September 23, 2024. LONDON — Nearly four months after taking office, the U.K.'s Labour government is set to unveil its debut budget on Wednesday, with markets braced for a major fiscal shake-up. "There's a huge amount of interest in this budget," Amanda Tickel, head of tax and trade policy at Deloitte U.K., told CNBC on Tuesday. Tickel forecast £35 billion ($45.4 billion) worth of tax rises and £5 billion in spending cuts to plug what Finance Minister Rachel Reeves says is a "big gap" in the budget. We haven't had a Labour government for 14 years, and they're going to want to make their mark on the tax system," she said.

Persons: Rachel Reeves, Amanda Tickel, haven't, we've, Reeves Organizations: Labour Party Conference, ACC Liverpool Convention Center, LONDON, Labour, Deloitte, CNBC Locations: Liverpool, London

☆ UK's Labour vows planning reform and clean energy transition as King's Speech reveals key policies
▼ + stars: | 2024-07-17 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

King Charles III, wearing the Imperial State Crown and the Robe of State reads the King's Speech from the The Sovereign's Throne next to Queen Camilla, wearing the George IV State Diadem in the House of Lords chamber, in the Houses of Parliament on July 17, 2024 in London, England. LONDON — The U.K.'s new Labour government on Wednesday outlined a raft of proposed legislation, including the nationalization of rail operators and the creation of a publicly-owned clean power company. In a speech delivered by King Charles III on behalf of the administration, the government said it is "committed to a clean energy transition that will lower bills for consumers over time," adding that it would establish Great British Energy, headquartered in Scotland, to help accelerate investment in renewable energy such as offshore wind. The speech listed a broad range of proposals, many of which have already been announced. A pledge of economic growth was yet again front and center in the speech, described in the opening lines as a "fundamental mission" which would help the country move on from the cost of living crisis.

Persons: King Charles III, Queen Camilla, George IV, Charles Organizations: Imperial State Crown, George, Labour, British Energy, Microsoft Locations: State, London, England, Scotland

☆ UK's Labour could announce tax changes 'quicker than expected': Teneo
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK's Labour could announce tax changes 'quicker than expected': TeneoCarsten Nickel of Teneo says a fragmented opposition could allow a new Labour government to deliver more tax announcements ahead of the U.K. budget in October.

Persons: Carsten Nickel, Teneo Organizations: Labour

☆ Key housing focus for UK's Labour Party will be on supply side, Investec analyst says
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKey housing focus for UK's Labour Party will be on supply side, Investec analyst saysAynsley Lammin, equity analyst at Investec, says the U.K. Labour Party's plan to restore mandatory housebuilding targets is a "quick win" for the sector that should boost planning and supply.

Persons: Aynsley Organizations: UK's Labour Party, Labour

☆ UK's Labour Party secures landslide victory in general election
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK's Labour Party secures landslide victory in general electionSky News anchor Wilfred Frost joins 'Squawk Box' to break down the UK general election results.

Persons: Wilfred Frost Organizations: UK's Labour Party, Sky

☆ UK's Labour Party policies expected to be relatively business friendly, says Citi's Beata Manthey
▼ + stars: | 2024-07-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUK's Labour Party policies expected to be relatively business friendly, says Citi's Beata MantheyBeata Manthey, head of European equity strategy at Citigroup, and Wilfred Frost, Sky News anchor and CNBC contributor, join 'The Exchange' to discuss European elections, the impact to markets, and more.

Persons: Citi's Beata Manthey Beata Manthey, Wilfred Frost Organizations: UK's Labour Party, Citigroup, Sky News, CNBC

☆ The UK is expecting to get a new prime minister — one that Obama has been mentoring for months
▼ + stars: | 2024-07-04 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +9 min

AdvertisementKitty Donaldson, a political journalist in the UK, told Business Insider that this interview marked a turning point in Starmer's public display of emotion. Obama could advise Starmer on how to deal with TrumpObama's and Starmer's relationship is likely to continue if Starmer wins the election on Thursday. Speaking to Politico's Power Play Podcast in September, Starmer said Obama was the US president that he spoke to "most frequently." Packer said Obama and Starmer's relationship made sense, given the decadeslong ties between the UK's Labour Party and the US Democratic Party. Meanwhile, Donaldson suggested Starmer may seek advice from Obama on dealing with Donald Trump, if the former president is reelected in November.

Persons: —, Keir Starmer, Starmer, Jill Rutter, He's, Rishi Sunak, Goldman Sachs, Akshata Murty, Narayana Murty, Barack Obama, Obama, David Lammy, Lammy, Keir, Kitty Donaldson, Donaldson, it's, Tom Packer, Packer, Donald Trump, Trump, Biden, Andrew Harnik, Stormy Daniels, … Organizations: Service, leftwing Labour Party, Conservative Party, Business, New York Times, UK's, Labour, Infosys, Sunday Times, Politico, Black, Harvard University, Sunak, Telegraph, Minas Panagiotakis, Sky News, University College London, Trump, Guardian, UK's Labour Party, US Democratic Party, BBC Radio Locations: Britain, London, England, Wales, Minas, Europe

☆ Businesses need clarity from the UK's Labour and Conservative parties, former civil servant says
▼ + stars: | 2023-10-09 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBusinesses need clarity from the UK's Labour and Conservative parties, former civil servant saysDirector of Government Affairs and Chair of UK2030 at Hogan Lovells International LLP, Robert Gardener, discusses how businesses are looking at the U.K.'s biggest political parties.

Persons: Robert Gardener Organizations: UK's Labour, Conservative, Government Affairs, Hogan Lovells

☆ UK's Labour Party has 14-point lead over Conservatives, Opinium poll shows
▼ + stars: | 2023-09-02 | by ( ) www.reuters.com time to read: +1 min

British Prime Minister Rishi Sunak speaks during the Prime Minister's Statements on the Nato Summit at the House of Commons in London, Britain, July 13, 2023. UK Parliament/Andy Bailey/Handout via REUTERS/File Photo Acquire Licensing RightsLONDON, Sept 2 (Reuters) - Britain's opposition Labour Party has a 14-point lead over Prime Minister Rishi Sunak's ruling Conservatives, an opinion poll by market research company Opinium showed on Saturday as lawmakers prepare to return to parliament after the summer break. The Opinium poll, based on a survey of 2,055 British adults carried out between Aug. 30 and Sept. 1, showed support for Labour had risen to 42%, up 1 percentage point since the last poll in July, while support for the Conservative Party rose by 2 points to 28%. Lawmakers return to parliament on Monday, with a general election expected to be held next year. Reporting by Sarah Young Editing by Helen PopperOur Standards: The Thomson Reuters Trust Principles.

Persons: Rishi Sunak, Andy Bailey, Handout, Rishi Sunak's, Sarah Young, Helen Popper Our Organizations: British, Nato, REUTERS, Labour Party, Labour, Conservative Party, Thomson Locations: London, Britain

☆ Virgin Money UK shuts 39 stores over fall in customer demand
▼ + stars: | 2023-07-20 | by ( ) www.reuters.com time to read: 1 min

July 20 (Reuters) - British lender Virgin Money UK (VMUK.L) said on Thursday it will close 39 stores as the company continues to see a drop in footfall and transaction volumes. "Access to a bank and cash is a fundamental need for all our local high streets," UK's labour union Unite said in a separate statement about the store closures. Virgin Money UK said that some workers will be at risk of redundancy following the store closures. Reporting by Sinchita Mitra in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Sinchita Mitra, Shounak Dasgupta Organizations: Virgin Money, Thomson Locations: Bengaluru

☆ UK's Labour vows to make Britain a clean energy superpower by 2030
▼ + stars: | 2023-06-18 | by ( ) www.reuters.com time to read: +1 min

LONDON, June 18 (Reuters) - Britain's main opposition Labour Party will pledge on Monday to turn the country into a clean energy superpower by 2030, with a promise to cut bills, create jobs and to overturn a ban on new onshore wind farms. However on Monday, Labour leader Keir Starmer will set out pledges for 100% clean and affordable power by 2030; to establish a publicly-owned energy company, GB Energy; to create a National Wealth Fund to invest in green technologies; and to upgrade poorly insulated homes. The party would also overturn the ban on new onshore wind farms which Labour says has added 5.1 billion pounds to energy bills, or 182 pounds per household, because Britain has been forced to turn to more expensive power. "We can cut bills, create jobs and provide energy security for Britain – that's what a Labour Government will deliver," Starmer will say in a speech according to remarks released by Labour. "We're going to throw everything at this: planning reform, procurement, long-term finance, R&D, a strategic plan for skills and supply chains."

Persons: Britain's, Keir Starmer, Michael Holden, David Evans Organizations: Labour Party, Labour, GB Energy, Wealth Fund, Britain –, Labour Government, Thomson Locations: United States, Britain

☆ UK's Labour suspends Diane Abbott for saying Jews experience prejudice, not racism
▼ + stars: | 2023-04-23 | by ( Andrew Macaskill | ) www.reuters.com time to read: +3 min

The equalities watchdog found in 2020 Labour had serious failings in the party’s handling of persistent antisemitism complaints. Abbott, 69, was responding to a writer's claims that Irish, Jewish and Traveller people suffered racism. This is similar to racism and the two words are often used as if they are interchangeable," she wrote. A spokesperson for Labour party said she had been suspended pending an investigation. Britain's equalities watchdog said earlier this year the Labour Party had made sufficient changes over the last two years to tackle antisemitism.

☆ UK's Labour attacks planned pension changes as giveaway to the rich
▼ + stars: | 2023-03-16 | by ( Kate Holton | ) www.reuters.com time to read: +3 min

LONDON, March 16 (Reuters) - Britain's opposition Labour Party vowed on Thursday to reverse the government's planned pension changes, saying they were a giveaway to the top 1% of pension savers at a time when many households are being hit by tax increases and high inflation. "The budget was a chance for the government to unlock Britain's promise and potential," Rachel Reeves, Labour's would-be finance minister said. Some long-serving senior doctors have cut back their hours or retired early as they near the lifetime pension limit, adding to strains in the National Health Service (NHS). The focus on tax support for the wealthiest had echoes of the criticism that met the "mini-budget" of former Prime Minister Liz Truss and her finance minister Kwasi Kwarteng in September. They were later forced to reverse their plan to scrap the top rate of income tax for Britain's highest earners.

☆ UK's Labour comfortably beat PM Sunak's Conservatives to retain parliamentary seat
▼ + stars: | 2022-12-02 | by ( ) www.reuters.com time to read: +2 min

LONDON, Dec 2 (Reuters) - Britain's opposition Labour Party retained a parliamentary seat in the northwest of England on Friday, comfortably winning the vote in the first electoral test for Rishi Sunak as prime minister. Labour candidate Samantha Dixon won the City of Chester constituency, securing 61% of the vote, compared to 22% for the candidate from Sunak's Conservatives. The next national election is expected in 2024. Curtice said the scale of the swing could indicate Labour winning an outright majority in parliament at the next national election, but noted that local elections were rarely a good guide. Labour have held the Chester seat since 2015, when it was the most marginal seat in the country.

☆ UK's Labour promises a responsible fiscal policy if in government
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterBritain's Shadow Chancellor of the Exchequer Rachel Reeves takes part in a television interview at Britain's Labour Party's annual conference in Liverpool, Britain, September 26, 2022. REUTERS/Phil NobleLIVERPOOL, England, Sept 26 (Reuters) - Britain's opposition Labour Party would pursue a responsible fiscal policy that provides funds for public services, its finance policy chief Rachel Reeves said on Monday, criticising the Conservative government for gambling with the economy. "It is becoming clearer by the day that Labour is the party of economic responsibility and the party of social justice," Reeves told the party's annual conference in the northern English city of Liverpool. "It is time for a government that is on your side, and that government is a Labour government." Register now for FREE unlimited access to Reuters.com RegisterReporting by Elizabeth Piper and Andrew MacAskill, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.

Shadow Chancellor of the Exchequer Rachel Reeves is interviewed outside the BBC in London, Britain, October 24, 2021. REUTERS/Peter Nicholls/File PhotoLIVERPOOL, England, Sept 25 (Reuters) - Britain's Labour Party will unveil on Monday its plans to set up a national wealth fund to invest in green projects which will benefit the public, part of the opposition party's answer to the Conservative government's tax-cutting approach. The so-called mini-budget has opened up a divide between Prime Minister Liz Truss's Conservatives and the Labour Party of Keir Starmer, who wants to use the years before an expected election in 2024 to prove his team is ready for power. "That is a real plan for growth," she will say, taking aim at the "Growth Plan" presented by finance minister Kwasi Kwarteng on Friday, when Labour accused him of prioritising the wealthy over working people struggling with rising prices by turning to the discredited theory of "trickle-down economics". Ed Miliband, Labour's climate policy chief, said Labour's plans would return jobs to Britain.

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