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“Confusion arose from Mr Healey’s comments earlier in the week over whether the ballooning cost of welfare would be cut before the next election, with the Government later declining to put a timeframe on it.”

“Confusion arose from Mr Healey’s comments earlier in the week over whether the ballooning cost of welfare would be cut before the next election, with the Government later declining to put a timeframe on it.”

“‘Budget is bold enough’ despite limited ‘room for manoeuvre’, Andy Burnham says Mr Burnham insisted there are “strong signs that the economy will improve” but admitted the Government does not have “huge room for manoeuvre”.”

“…business, I want to take trade unions with me, and with the Government, because together we have to get into what at the moment is a moral shame on this nation, a million youngsters written off, without any prospect of being helped into work and making a…”

“…business, I want to take trade unions with me, and with the Government, because together we have to get into what at the moment is a moral shame on this nation, a million youngsters written off, without any prospect of being helped into work and making a…”

““This in turn has led to mounting financial market expectations of bank rate increases, which have maintained upward pressure on the market interest rates which underpin mortgage pricing.””

““This in turn has led to mounting financial market expectations of bank rate increases, which have maintained upward pressure on the market interest rates which underpin mortgage pricing.””

““Most homeowners have already absorbed higher borrowing costs since late 2022, with relatively few still needing to refinance directly from rates below 2%, and the labour market remains resilient.”

““Rising inflation is turning the Budget into a perilous high-wire act for the Chancellor, increasing pressure for cost-of-living support while pushing up Government borrowing costs, which is shrinking fiscal headroom and narrowing his policy options,” he said.”

“Higher inflation will push up the cost of Government borrowing by around £10 billion in 2029–30, the fiscal experts estimated.”

“Furthermore, if financial markets doubt the path for fiscal policy, then government borrowing costs rise, he said.”

“Both Andy Burnham and his Chancellor have hinted at tough choices for the Government this autumn, despite the Prime Minister’s intent to push forward a message of hope at his first Labour conference since seizing power.”

“It comes after weeks of increases in government borrowing costs, with the yield on UK gilts hitting the highest levels since the 2007 financial crisis.”

“The announcement triggered a drop in government borrowing costs on Thursday, known as gilt yields, which have soared to fresh highs in recent weeks.”