Rachel Reeves paves way for cuts and tax rises to fill shortfall left by Tories

Chancellor will announce pause in work on a number of infrastructure projects, saying Conservatives ‘covered up’ true state of finances

Fear of a Truss repeat should not deter Reeves from rewriting spending rules

Labour has enough goodwill with City to increase debt if the money is used for key infrastructure

Cutting public spending to satisfy an arbitrary financial rule conceived in opposition will confine the UK to sluggish growth

Several factors restrict the Labour government’s room for manoeuvre in its agenda for growth, writes Phillip Inman

Chancellor attempts to plug £20bn hole in spending but will commit to above-inflation public sector pay rise

Bank left with costs from Sir Trevor McDonald-fronted campaign after early election halted rollout

Even as Joe Biden touts ‘strongest economy in the world’, nearly three in five Americans wrongly believe US is in recession

Bank sets aside just £44m for bad debts and defaults in second quarter amid upbeat outlook

Independent pay review bodies for teachers and NHS staff have reportedly advised increases of about 5.5%

The meaty king’s speech heralded several striking and radical departures from the Tory years that came before

Health professionals argue inequalities, crisis in NHS and pressure in care homes leave Britain vulnerable

Treasury says it has received worst postwar inheritance as figures reveal £14.5bn deficit in June

Interest rate cut hangs in balance after ONS figures show annual pay growth eased to 5.7% in three months to May

PM announces taskforce to deal with child poverty, but refuses to commit to scrapping the two-child benefit cap

‘Taylor Swift effect’ on hotel prices partly blamed for UK inflation defying forecast drop