Reeves eyes uni fees ‘raid’ and business Budget warning
Budget week is upon us, and much of Monday’s coverage is focused on Chancellor Rachel Reeves’ announcement on Wednesday. Metro writes that repeated leaks in the Budget increase are damaging the economy. Bank of England chief economist Andy Haldane is quoted as saying there has been “paralysis among businesses and consumers” due to the spate of reports about its content in recent weeks.
The Daily Express says pensioners will “lose £800 a year” if the Chancellor does not lift income tax thresholds. The newspaper notes that Reeves is expected to keep the tax-free allowance at its current level until 2030, extending the freeze first introduced by the previous Conservative government and due to end in 2028. This means some people on state pensions will pay tax on some of their pension when the allowance rises as expected next year.
The Mirror is ahead with a poll suggesting some want Reeves to “hit the super-rich in the autumn budget”. The Labour-backed newspaper includes a poll conducted by centre-left campaign group 38 Degrees showing that “64 per cent of voters support tax increases on wealth”.
According to i Newspaper, the Chancellor will “target universities” in the Budget. The newspaper notes that plans to increase international student fees to fund “grants for poorer British students” had been floated ahead of this announcement.
The Daily Telegraph says £15bn of extra welfare spending will be included in the Budget, leading to reports that Reeves plans to scrap the two-child benefit cap and approve increases to other benefits and pensions. The proposals would be “financed by a tax raid on the middle classes,” the paper said, referring to expected extensions to freeze thresholds.
The Times reported that the chancellor plans to “hit more than 100,000 of Britain’s most expensive properties with a surcharge worth an average of £4,500”. The property tax was originally planned to apply to properties worth at least £1.5 million, but the Treasury is now looking at a threshold of £2 million due to concerns it would impact people who are “asset rich but cash poor”, according to the newspaper.
The Confederation of British Industry (CBI) says businesses “face death from thousands of taxes”, the Independent reports. He cites comments from the group’s director, Rain Newtown-Smith, who said: “The UK risks a Groundhog Day scenario where politics is more important than growth.”
Meanwhile, the Financial Times leads on the latest developments on US efforts to broker a deal to end the war between Ukraine and Russia. It focuses on comments from Donald Trump, who said Kiev showed “zero gratitude” to Washington. However, the White House later said the Geneva talks were successful and progress was being made.
The Guardians claim the BBC plans to “overhaul the way it investigates editorial concerns”. The publisher is said to be appointing a new deputy chief executive in response to the row in which two of its most senior leaders resigned this month. The BBC did not comment on the Guardian report.
The Daily Mail leads Lord David Cameron to reveal that he was diagnosed with prostate cancer in 2022 and was successfully treated. The newspaper says the former prime minister was initially encouraged to have a prostate test by his wife, Samantha Cameron, after listening to a BBC radio interview. The paper says Lord Cameron now supports “targeted screening”.
Strictly Come Dancing’s Shirley Ballas “nearly died” after choking on a fishbone just minutes before Saturday’s live show, the Sun reports. The newspaper states that the 65-year-old player “had difficulty breathing for 20 minutes backstage in Blackpool.”
And finally, the Daily Star continues its campaign to get viewers to get behind former model Kelly Brooks on I’m a Celebrity… Get Me Out of Here.
