Prime minister says government left with ‘no other choice’ but to make difficult decisions after discovering £22bn ‘black hole’ in public...

Prime minister says it will take years to clean up from Tories after finding a £22bn black hole in public finances

Chancellor tells meeting of parliamentary Labour party there will be more difficult decisions to come

Minister for Finance also discusses renewable energy investment with Britain’s new chancellor Rachel Reeves during trip to London

A few Americans at the very top have extraordinary wealth but pay incredibly low rates of income tax. Why? Their hugely profitable businesses...

Rachel Reeves tells Labour MPs that axing allowance for all but poorest pensioners will help plug £22bn hole in finances

Mention the £22bn hole in the public finances and the chancellor’s eyes light up. This is her time. Her chance to shine

'We are at war,' the far-right minister said, 'but we will win together on the economic front.' The proposed measures include freezing income tax...

Resolution Foundation suggests proposals on capital gains tax, inheritance tax and national insurance