Reeves scraps social care cap and some winter fuel payments to plug ‘£22bn hole’

Hospital and road projects also targeted as chancellor accuses Tories of covering up scale of fiscal shortfall

McDonald’s sales fall for first time since 2020, as higher prices deter consumers – as it happened

Live, rolling coverage of business, economics and financial markets as McDonald’s faces pressure to cut prices and lure back customers

Regions’ vast potential is being blocked by the need for better investments, key partnerships and reforms to global finance

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

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