Keir Starmer faces £4.25bn fiscal hit after benefits reversals
Move raises likelihood of further tax rises and could damage government’s credibility with investors
Move raises likelihood of further tax rises and could damage government’s credibility with investors

Prime minister tells Labour MPs he will reduce UK’s national debt without making deep spending cuts

Retreat on welfare cuts would be an irrecoverable blow to the UK prime minister’s authority

Executives prepare for shift to the left in UK government after narrow escape in last year’s Budget

If another government disappoints, voters might accept that painful reform of the state is needed

Conservatives say chancellor exaggerated fiscal hole to justify tax rises

Government climbdown on welfare reveals the perpetually problematic relationship between Labour’s front and backbench