Reeves to raise spectre of Liz Truss to persuade Labour MPs to accept cuts

Chancellor to tell party she is making steep cuts to avoid similar fallout to that which followed 2022 mini-budget

Travel shares drop after Heathrow closure; UK deficit overshoots forecasts at £10.7bn – as it happened

Airline and hotel shares tumble as substation fire shuts airport, while UK borrowing jumped more than expected

IFS says chancellor ‘boxed in’ by promises before spring statement as February figure is much worse than expected

Report co-authored by Irish government also finds tariffs could cause job losses and relocation of US multinationals

ONS, already working on fixing a survey, uncovers problems with two indices used to measure prices in economy

Chancellor may see data as vindication for spending cuts but some analysts say more radical action will be needed

Chancellor has very little headroom within her fiscal rules but is keen to keep Office for Budget Responsibility on side

Despite the decision to hold at 4.5%, businesses and households can take a confident view of the UK’s prospects

Payments by OECD countries outstrip amount spent on defence, police services and housing, report finds

Rate-setting committee also points to mounting global uncertainty as it pauses its cycle of reductions

Unemployment was level in January, but has risen over the past six months

Officials raise inflation forecast to 2.7% this year, as Fed chair Jerome Powell says uncertainty is ‘remarkably high’

Editorial: A groundbreaking vote by outgoing MPs has given the chancellor-elect, Friedrich Merz, the chance to renew mainstream politics

Rolling coverage of the latest economic and financial news

Rolling coverage of the latest economic and financial news, as gold hits $3,027 per ounce