public finance

MoD accused of 'poor financial planning' over £7bn kit blackhole

MoD accused of 'poor financial planning' over £7bn kit blackhole

Public spending watchdog says armed forces’ equipment plan is incoherent and lacks credibilityThe Ministry of Defence has a funding blackhole of at least £7bn in plans for equipment for the armed
Number of bus journeys in England falls by 85m in a year

Number of bus journeys in England falls by 85m in a year

Labour says official figures show devastating impact of Tory cuts on local services The number of bus passenger journeys in England slumped by 85m last year, according to figures that Labour said
Labour report urges investment to revive struggling regions

Labour report urges investment to revive struggling regions

North-east and Wales should get over double the funding per person of London – studyA future Labour government should use funds from a national investment bank, targeted transport spending and buying
UK corporation tax cut to cost billions more than thought

UK corporation tax cut to cost billions more than thought

New HMRC forecast means 2% cut in rate to 17% will now cost Treasury £6.2bn in lost revenueThe government’s planned cuts to corporation tax look set to cost the public purse billions more in lost
Plan to redirect inner-city funds to Tory shires 'a stitch-up’

Plan to redirect inner-city funds to Tory shires 'a stitch-up’

Critics hit out at ministers’ proposed changes that claim to simplify grant distributionMinisters have been accused of a “stitch-up” over proposals to redraw the funding formula for councils in a way
Is it time to trim the UK Treasury? | Larry Elliott

Is it time to trim the UK Treasury? | Larry Elliott

Harold Wilson was right: we need a separate department for the economy to boost growthThe Treasury is the most powerful institution in Whitehall. It is actually a super-ministry combining functions
Hammond 'can raise £7bn a year by scrapping tax breaks'

Hammond 'can raise £7bn a year by scrapping tax breaks'

Resolution Foundation urges chancellor to tighten wealth taxation to boost public sectorPhilip Hammond could raise an additional £7bn a year for the Treasury by scrapping tax breaks for the richest in
What it takes for the Tories’ callous legal aid cuts to hit home | Letters

What it takes for the Tories’ callous legal aid cuts to hit home | Letters

Guardian readers discuss the high social cost of austerity being imposed on the UK’s legal processIt is certainly true that many people are being deprived of access to justice following the legal aid
How has Brexit vote affected the UK economy? December verdict

How has Brexit vote affected the UK economy? December verdict

Each month we look at key indicators to see what effect the Brexit process has on growth, prosperity and trade • Experts debate the data • The UK economy is on a knife edge Continue reading...
How has Brexit vote affected the UK economy? December verdict

How has Brexit vote affected the UK economy? December verdict

Each month we look at key indicators to see what effect the Brexit process has on growth, prosperity and trade • Experts debate the data • The UK economy is on a knife edge Continue reading...
Ministers: May's plan for three-year spending review is a fantasy

Ministers: May's plan for three-year spending review is a fantasy

Senior figures say PM will struggle to get deal signed off in current political uncertaintyTheresa May’s waning authority means the idea of concluding a three-year spending review next year is a
Major tube upgrades shelved as TfL struggles to balance books

Major tube upgrades shelved as TfL struggles to balance books

Capital’s transport authority faces shortfall due to Crossrail delays and government cutsPlans to upgrade major parts of the London Underground will be put on hold after a decline in passenger
Crossrail now delayed to 2020 and to cost another £2bn

Crossrail now delayed to 2020 and to cost another £2bn

Final bill of London’s new rail line could hit £17bn as the mayor demands release of board minutesThe final bill for Crossrail could reach £17.6bn, with London picking up the likely £2bn shortfall for
Ministers criticised after plans for council tax rise to fund police

Ministers criticised after plans for council tax rise to fund police

Forces to benefit from £450m but Labour say the poorest will be hit by billsMinisters have been accused of a financial sleight of hand over plans to allow a council tax increase to pay for extra
Hammond's budget is gambling with public finances, says IFS

Hammond's budget is gambling with public finances, says IFS

Extra NHS funding ignores risk of UK accounts deteriorating badly after Brexit, thinktank says Philip Hammond has been warned that he is gambling with the future health of the UK’s public finances
Philip Hammond can't announce an end to austerity. Brexit won't allow it

Philip Hammond can't announce an end to austerity. Brexit won't allow it

Despite Theresa May’s eye-catching pledge, the chancellor’s budget will have to factor in Britain’s precarious post-EU future Philip Hammond’s budget next week is likely to be filled with initiatives
Philip Hammond can't announce an end to austerity. Brexit won't allow it

Philip Hammond can't announce an end to austerity. Brexit won't allow it

Despite Theresa May’s eye-catching pledge, the chancellor’s budget will have to factor in Britain’s precarious post-EU future Philip Hammond’s budget next week is likely to be filled with initiatives
Accountancy body urges chancellor to end austerity in budget

Accountancy body urges chancellor to end austerity in budget

No case for keeping to surplus plan, say Institute of Chartered Accountants and Fabian Society Ditching the government’s budget plans and adopting Labour’s tax and spending proposals would allow
Thinktank urges chancellor to end austerity in budget

Thinktank urges chancellor to end austerity in budget

No case for keeping to surplus plan and focus should be on investment – Fabian Society Ditching the government’s budget plans and adopting Labour’s tax and spending proposals would allow Philip
UK public finances are among weakest in the world, IMF says

UK public finances are among weakest in the world, IMF says

Health check shows almost £1tn wiped off wealth of public sector since 2008 crashBritain’s public finances are among the weakest in the world following the 2008 financial crash, according to a fresh