Rachel Reeves must prepare for a significant jump in defence spending as geopolitical pressures mount, Andrew Bailey has warned. The Governor of the Bank of England said the Government faces “very big structural headwinds” as new military threats emerge and demand extra spending, even as the national debt is already very high.

British finance minister Rachel Reeves might yet have to make changes to her fiscal plans in March, despite a fall in borrowing costs in financial markets from their peak earlier this month, a leading think tank said on Thursday.

When Santander boss Ana Botin met Rachel Reeves at the annual Davos jamboree last week, the atmosphere may have been frostier than the ski slopes outside...

The pound fell against the dollar on Wednesday, while British finance minister Rachel Reeves outlined plans for growth, and as currency investors shifted their focus to the U.S. Federal Reserve's upcoming policy decision.

The disappointing retail data adds to the dim economic picture in the U.K. and to the challenges facing Finance Minister Rachel Reeves.

Governor Andrew Bailey has stressed the need for the UK to increase its economic growth rate as Rachel Reeves set out plans to kick start the economy.

The Pound Sterling moves higher against the US Dollar, as investors focus on the Fed’s monetary policy decision. Fading concerns over DeepSeek’s low-cost AI model to challenge US AI models’ dominance have diminished some US Dollar risk-premium.

“Rachel Reeves is thinking the right way but she’s in a difficult position,” said a senior UK bank executive in Davos . “Labour in the UK have made a lot of good decisions but it is very hard for them and the [bond market] challenges of last week reinforce that issue.”

Chancellor Rachel Reeves is set to meet with a group of watchdogs today in a bid to kickstart the cutting of red tape in a push to growth.

Bank of England Appoints Fernando Aguirre of DHS Ventures & Holdings to the Economic Policy Council WASHINGTON, DC / ACCESS Newswire / January 29, 2025 / The Chancellor of the Exchequer, Rachel Reeves

"The Reeves Revolution," is what the Daily Mirror calls the chancellor's "vision for growth". In her speech on Wednesday, she pledged a £78bn boost to what the paper calls the UK's "battered economy".