Rachel Reeves must prepare for a significant jump in defence spending as geopolitical pressures mount, Andrew Bailey has warned. The Governor of the Bank of England said the Government faces “very big structural headwinds” as new military threats emerge and demand extra spending, even as the national debt is already very high.

By Andrew MacAskill EYNSHAM, England (Reuters) -British finance minister Rachel Reeves said on Wednesday that the government supported the construction of a long-delayed new runway at London's Heathrow Airport as she sought to show she could deliver on her promises of speeding up economic growth.

When Santander boss Ana Botin met Rachel Reeves at the annual Davos jamboree last week, the atmosphere may have been frostier than the ski slopes outside...

The Pound Sterling moves higher against the US Dollar, as investors focus on the Fed’s monetary policy decision. Fading concerns over DeepSeek’s low-cost AI model to challenge US AI models’ dominance have diminished some US Dollar risk-premium.

The disappointing retail data adds to the dim economic picture in the U.K. and to the challenges facing Finance Minister Rachel Reeves.

Andy Haldane, who was with the Bank for 32 years until 2021, said the Office for Budget Responsibility's (OBR) forecast in March could lead to less investment and spending.

Bank of England Appoints Fernando Aguirre of DHS Ventures & Holdings to the Economic Policy Council WASHINGTON, DC / ACCESS Newswire / January 29, 2025 / The Chancellor of the Exchequer, Rachel Reeves

The UK Chancellor’s messaging at Davos recalled former Taoiseach Enda Kenny’s efforts to extol the recovery of the Irish economy while in the Swiss Alps

Companies are cutting jobs at the fastest pace since the global financial crisis, barring the pandemic, after Rachel Reeves announced £40bn of tax rises in the Budget, according to a closely watched survey.

Chancellor Rachel Reeves is set to meet with a group of watchdogs today in a bid to kickstart the cutting of red tape in a push to growth.

“Rachel Reeves is thinking the right way but she’s in a difficult position,” said a senior UK bank executive in Davos . “Labour in the UK have made a lot of good decisions but it is very hard for them and the [bond market] challenges of last week reinforce that issue.”