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    Budget 2024: Martin Lewis sends warning over Buy Now Pay Later crackdown

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseMartin Lewis has issued a warning over a new crackdown on buy now, pay later products. The money expert has cautioned consumers it is a case of buy now, get protected later.Ministers have announced that millions of shoppers are to be protected by new rules for BNPL, as they are known. Mr Lewis welcomed the change saying: “Buy Now, Pay Later is now ubiquitous at online checkouts, so the fact it’s never been regulated is a travesty I and others have long campaigned on.“The last chancellor promised to regulate, then the tumbleweed rolled as he went silent, so I am delighted the new government has quickly restarted the process.”Martin Lewis sent a warning over the new crackdown on buy now, pay later products More

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    UK wealth gap surges by nearly 50% in under a decade, research finds

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseThe wealth gap between the richest and poorest in the UK soared by nearly 50 per cent in less than a decade, as stalling wages and rising asset values fuelled inequality at the height of austerity, new analysis suggests.In a new report examining the “profound systemic impacts” of this rising inequality, researchers with the Fairness Foundation warn that it “seriously exacerbates a wide range of arguably existential risks” to the UK, such as social unrest, failure to act on the climate crisis, economic stagnation and the decline of democracy.As new polling for the charity found that three in four voters are concerned about the impact of wealth inequality in Britain, Sir Keir Starmer was urged to act to mitigate these risks, in an open letter signed by dozens of academics, charity and business leaders.Sir Keir Starmer and Rachel Reeves have made boosting economic growth one of their five key missions More

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    Labour MP claims internet connection in Ukraine is better than London

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseA Labour MP has claimed she has experienced better internet connection in wartorn Ukraine than she does in central London.Cat Eccles told an adjournment debate that the UK is languishing behind its European neighbours when it comes to ultra-fast broadband.Technology minister Sir Chris Bryant said the Government aspires to European levels of broadband, adding that some “cowboy” broadband companies should be told they’re “drinking in the last chance saloon”.When I was recently in Ukraine I experienced far better internet connectivity than I do in central London and Stourbridge town centreCat Eccles On Thursday, the MP for Stourbridge said: “The legislation was passed in 2013, yet here we are in 2024 still waiting for the full rollout of this ultra-fast broadband.“And while I appreciate what (Laurence Turner) has said, (that) we do have adequate fast speeds currently, it could be much better.“In fact, when I was recently in Ukraine I experienced far better internet connectivity than I do in central London and Stourbridge town centre.“So our European neighbours are enjoying much faster broadband while we languish behind, and Stourbridge residents have been left at the mercy of these third party companies.”Ms Eccles’ comments came during a debate on planning permission and telegraph poles led by fellow Labour MP Laurence Turner, who raised concerns about the amount and locations of telegraph poles in his constituency of Birmingham Northfield.He told the Commons: “This is not about being against telegraph poles, nor is it about being against the rollout of fast broadband, in fact new infrastructure is vital.”“But is it surely wrong that when poles are sited inappropriately, that recourse (for) residents is advisory only and in many cases it is lacking completely in practice,” he added.Mr Turner went on to say: “As long as the (cabinet and pole siting code of practice) remains voluntary, it will always be circumvented in some cases.”Speaking on behalf of the Government, Sir Chris said: “The vast majority of companies who are operating in this sphere are doing so entirely responsibly, they are doing a great favour for the nation in rolling out broadband at the kind of speed that everybody wants.“I note the point that was made by (Ms Eccles) about other countries in Europe, of course we want to aspire to that as well, for everybody across the whole of the UK.“The vast majority of companies are doing that, a few are frankly behaving like cowboys and I think sometimes we need as Government and as Parliament to say to cowboys that they’re drinking in the last chance saloon.”He added: “The industry has committed to revising that code of practice, I think it will be much tougher, and that guidance should be published in the new year.“But I’m absolutely clear about this, if this does not work, if voluntary adherence does not work, we reserve the right to change the law.” More

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    Tory MP sparks backlash after claiming leadership hopeful Kemi Badenoch is ‘preoccupied with her children’

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseA Conservative MP has sparked fury after claiming Kemi Badenoch of being “preoccupied with her children”, arguing it is impossible to be an opposition leader while spending “all your time” with your family.Alex Brewer, a Lib Dem MP, said the comments made by Sir Christopher Chope about the Tory leadership hopeful were “astonishing”, and that views of this kind ultimately “damage women’s prospects”.Speaking on ITV News, Sir Christopher said: “Much as I like Kemi, I think she is preoccupied with her own children – quite understandably – but I think Robert [Jenrick]’s children are a bit older. “I think it is important that whoever leads the opposition has an immense amount of time and energy.”Kemi Badenoch and Robert Jenrick are the final candidates to be the next Conservative Party leader (UK Parliament/PA) More

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    Angela Rayner leads Cabinet revolt against Reeves’ ‘huge’ Budget cuts

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseSir Keir Starmer is facing a backlash from Angela Rayner and his cabinet over “huge” cuts to departmental spending to be unveiled in Rachel Reeves’ Budget.The prime minister has received letters from senior ministers raising concerns about the spending cuts after a number spoke out against the measures at Tuesday’s cabinet meeting. Some departments are facing cuts of as much as 20 per cent as Ms Reeves scrambles to find £40bn of spending cuts and tax rises before the October 30 Budget.As the row erupted in public, Downing Street warned that government departments and public services would have to become more productive and that public services “will need reform”. Angela Rayner is among those raising concerns about Rachel Reeves’ Budget plans More

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    How make-or-break Budget has fractured Keir Starmer’s cabinet

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseRachel Reeves’ Budget is a make-or-break moment for Sir Keir Starmer’s government, potentially sparking a decade of national renewal – or sowing the seeds of Labour’s downfall.The prime minister’s poll ratings are at rock bottom after just over 100 days in charge, and the much-hyped “tough choices” to be unveiled on October 30 will likely do little to help boost his appeal.As the driving force behind the financial statement, expected to entail £40bn worth of tax hikes and spending cuts, much of the backlash has and will focus on decisions taken by Ms Reeves.Sir Keir Starmer and Rachel Reeves are facing a backlash against planned Budget cuts More

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    Budget 2024 latest: Rayner among MPs pleading with Starmer to step in as Reeves’ ‘£40bn target’ looms

    Starmer refuses to rule out national insurance rise at PMQsYour support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseRachel Reeves will announce Labour’s first Budget in 15 years later this month, leading one of the most highly-anticipated fiscal events in over a decade.As the chancellor looks to fill the £22bn “black hole” in public spending she announced in late July, speculation has mounted about what measures will be included on 30 October. Ahead of the event, ministers have reportedly written directly to the prime minister to ask that proposed spending cuts be softened, bypassing Ms Reeves. It is understood that Number 10 has received complaints from several government departments.During Labour’s first few months in power, ministers have warned that “tough decisions” will be required to balance the books. Sir Keir Starmer has said the event is going to be “painful” but that there is “no other choice given the situation that we’re in.”This likely means tax rises and spending cuts can be expected, with Reeves reportedly looking to raise £40bn. The government has already come under fire for its decision to cut back winter fuel payments for millions of pensions, sparking a row which has hung over its first 100 days in power.We’ll be bringing you all the latest updates ahead of the big event on 30 October here, on The Independent’s liveblog.Show latest update 1729153337Pinned: Ministers plead with PM to soften Reeves’ spending cutsSeveral ministers have reportedly written to Number 10 urging the prime minister to soften departmental spending cuts laid out in the upcoming Budget.The requests have gone over the head of Rachel Reeves, who is reportedly looking to find around £40bn in tax rises and spending cuts on 30 October.It is an embarrassing show of disunity for the prime minister, indicating that ministers and Ms Reeves may not be seeing eye-to-eye on departmental budgets.It’s understood that the complaints have come from the Ministry of Housing, Department for Transport, Ministry of Justice. Unlike health and education, these departments have ‘unprotected’ budgets, meaning they could see severe cuts.One Cabinet minister told Sky News: “The briefing doesn’t match the reality. It’s pain this year, and pain next year. We’re simply going to be digging a hole which we end up filling in later in the year.”Albert Toth17 October 2024 09:221729167627How make-or-break Budget has fractured Keir Starmer’s cabinetRachel Reeves’ Budget is a make-or-break moment for Sir Keir Starmer’s government, potentially sparking a decade of national renewal – or sowing the seeds of Labour’s downfall.The prime minister’s poll ratings are at rock bottom after just over 100 days in charge, and the much-hyped “tough choices” to be unveiled on October 30 will likely do little to help boost his appeal.Albert Toth17 October 2024 13:201729160732Millionaires urge Reeves to raise £14bn from capital gains tax changes at BudgetRachel Reeves should increase capital gains tax (CGT) at Labour’s upcoming Budget, a group of millionaire business owners have urged, estimating the measure would raise £14bn a year.In a report by the IPPR think-tank, analysts have consulted with wealthy entrepreneurs who say higher CGT would not have stopped them from making investments in the UK.Albert Toth17 October 2024 11:251729156492Angela Rayner leads Cabinet revolt against Reeves’ ‘huge’ Budget cutsSir Keir Starmer is facing a backlash from Angela Rayner and his cabinet over “huge” cuts to departmental spending to be unveiled in Rachel Reeves’ Budget.The prime minister has received letters from senior ministers raising concerns about the spending cuts after a number spoke out against the measures at Tuesday’s cabinet meeting.Archie Mitchell17 October 2024 10:141729130400Budget rumours: business rates reformIn its election manifesto, Labour said it was committed to reforming the current business rates system “so we can raise the same revenue but in a fairer way”.What this means has not been spelt out by the party, but it said the new system will be designed to “level the playing field between the high street and online giants, better incentivise investment, tackle empty properties and support entrepreneurship”.It’s thought this could take the form of an immediate cut to the rates, while also closing loopholes which allow some firms to avoid tax. This will come as welcome news to smaller business owners, but Labour will be careful to ensure their reform maintains a monetary net zero.Exchequer secretary James Murray MP confirmed this at a Labour conference fringe event hosted by the British Retail Consortium, saying: “It’s within the current envelope. It’s all about raising the same amount of money overall, that’s the commitment.”Albert Toth17 October 2024 03:001729119660ICYMI: Inflation drop ‘badly-timed’ for benefit claimants as next increase revealedInflation has dropped below 2 per cent for the first time in over three years, raising hopes that the Bank will cut interest rates in November. The decrease exceeded many economist predictions, with the Consumer Price Index (CPI) falling to 1.7 per centBut some experts have warned that the rate drop is “badly timed” for many people, as it will be a key factor in how much benefits are uprated by the DWP next April.Albert Toth17 October 2024 00:011729108856Budget rumours: fuel Duty increaseFuel duties, or taxes, apply to purchases of petrol, diesel and a variety of other fuels used both for vehicles and domestic heating.The level of fuel duty depends on the type of fuel used, with a litre of petrol, diesel, biodiesel and bioethanol attracting a fuel duty of 52.95p. It was cut by 5p by the Conservatives in 2022, after being frozen at 57.95p since 2011.It represents a significant source of revenue for the government, expected to raise £24.7 billion in 2023-24, according to the Office for Budget Responsibility – equivalent to 2.2 per cent of all receipts.Scrapping the 5p cut would raise the government an estimated £2bn. However, doing so would not automatically force fuel retailers to bring down their costs, likely meaning higher fees for motorists, at least in the short term.Albert Toth16 October 2024 21:001729105256ICYMI: Rachel Reeves boosted by big drop in inflation as she seeks £40bn in Budget tax risesRachel Reeves has been boosted by a sharp drop in inflation as she seeks to find £40bn of tax hikes and spending cuts in this month’s Budget.The chancellor will welcome the dip, which saw inflation fall under the Bank of England’s 2 per cent target for the first time in more than three years, as she prepares for what promises to be a brutal Budget.Albert Toth16 October 2024 20:001729098056Budget rumours: welfare spending cutsLabour has made no secret of its ambition to reduce the government’s welfare spending bill, so Ms Reeves will likely take the Budget as her opportunity to do so.Speaking at Labour’s party conference, the prime minister said: “We will get the welfare bill down because we will tackle long-term sickness and support people back to work.”What has been confirmed is a crackdown on benefit fraud, which looks to save £1.6bn over the next five years. Also possible is the mooted reform to disability benefits through personal independence payments (PIP) or the work capability assessment (WCA).Albert Toth16 October 2024 18:001729094456What would you like to see announced in Rachel Reeves’ budget?We would like to hear your thoughts on what you would like to see introduced in Reeves’ Budget. Should she focus on measures to support homeowners, such as the Freedom to Buy scheme? Or would you prefer a focus on closing tax loopholes, such as abolishing non-dom status, to ensure a fairer tax system?Albert Toth16 October 2024 17:00 More

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    Ministers vow crackdown on rip-off nursery fees

    Your support helps us to tell the storyThis election is still a dead heat, according to most polls. In a fight with such wafer-thin margins, we need reporters on the ground talking to the people Trump and Harris are courting. Your support allows us to keep sending journalists to the story.The Independent is trusted by 27 million Americans from across the entire political spectrum every month. Unlike many other quality news outlets, we choose not to lock you out of our reporting and analysis with paywalls. But quality journalism must still be paid for.Help us keep bring these critical stories to light. Your support makes all the difference.CloseRead moreCloseMinisters are to crack down on the nurseries charging banned ‘top-up’ fees, warning they prevent parents from using much-needed childcare. In his first newspaper interview since taking the job, education minister Stephen Morgan told The Independent the government would look at “all options” to prevent the practice.The problem was “an issue up and down the country”, he warned.Earlier this year The Independent revealed parents were facing a hike in nursery fees of up to 15 per cent as they pick up the tab left by funding gaps in the Tory flagship scheme to expand free childcare.Parents are facing banned ‘top-up’ fees for nursery care More