As dark financial clouds gather, Labour has to heed its past: when it chooses austerity, it loses elections

Those who insist on spending cuts are those who are never hurt by them. Time to be brave – and take a new tack, says Guardian columnist Andy Beckett

Reeves and Starmer to prepare ground for tax rises in a difficult autumn budget

Exclusive: The Guardian has been told that discussions about increases include a near-certain gambling levy

Bank’s base rate gift signals wage rise conflict is on the way

In their economic outlook the rate setters see a threat from rising prices of food, energy and business services

Another Bank of England rate cut this year less likely given inflation fears and split vote – as it happened

Monetary Policy Committee has cut UK interest rates today, in a deeply split decision, but City pricing suggests another cut in 2025 is no longer fully priced in

Bank of England cuts interest rates as it warns food costs could push inflation to 4%

Policymakers cut base rate by quarter-point to 4% amid concern about strength of UK economy

UK interest rate cut: what does it mean for mortgages and savings?

Base rate reduction to 4% will hit some savers, but people with tracker home loans will see immediate benefit

Toyota warns of £7.1bn hit from Trump tariffs as it cuts profit forecast

Japanese carmaker cuts operating profit guidance by 16% day after rival Honda reported 50% drop in profits

Bank of England poised to cut interest rates

Quarter-point reduction expected, with City investors predicting a three-way split among rate setters

Dozens more countries face higher levies on exports to US as new Trump tariffs come into effect

Donald Trump’s latest wave of ‘reciprocal’ rates were in place as of a minute past midnight Washington time on Thursday

The full list of Trump’s new tariffs – from India to Taiwan

The US president’s ‘reciprocal’ tariffs on dozens of countries came into effect at a minute past midnight Washington time on Thursday

The Guardian view on the London Stock Exchange: its struggles are symptoms of a broken growth model

Editorial: The chancellor and the CBI have plans for reviving the institution. Neither will tackle Britain’s pitifully low levels of business investment

Starmer declines to rule out election pledge-breaking tax rises in budget after claim Treasury must fill £40bn deficit – as it happened

Prime minister defends government’s handling of economy but will not give assurances over not raising income tax, employee NI or VAT

UK construction activity shrinks by most in five years; Trump imposes extra 25% tariff on India – as it happened

Britain’s building sector records biggest drop in activity since early in Covid-19 pandemic

China’s industrial policy is creating instability at home and abroad

Overcapacity – from electric vehicles to high-speed rail to housing – is destroying profits as well as GDP

UK construction activity in July falls at steepest rate since Covid

Collapse in housebuilding underscores challenge for government in meeting its target of building 1.5m new homes