The head of a key UK business group says employers were caught “off-guard” by the hike in national insurance contributions in Rachel Reeves’ budget. In a stinging speech, Confederation of British Industry chief executive Rain Newton-Smith said the said the measures announced last month have made it harder for businesses to “take a chance” on hiring new people.

Chancellor Rachel Reeves has told businesses she is "not coming back with more borrowing or more taxes" as she defended the tax rises on businesses announced in the Budget. Reeves told the Confederation of British Industry (CBI) conference that despite "a lot of feedback" on her tax and spending plans, she had not heard many alternatives.

Keir Starmer has promised “zero tolerance” for benefits cheats as Labour seeks to tackle Britain’s ballooning welfare bill. The prime minister warned those who try to “take advantage of state generosity will feel the force of the law” and that ministers would even “take cash straight from the banks of fraudsters”.