Budget 2026

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John Healey pledges to use budget to harness power of AI to bolster Britain’s security

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Chancellor says government to commit hundreds of millions to develop ‘distinctively British’ approach to AIJohn Healey has pledged to use Wednesday’s budget to harness the power of artificial intelligence to bolster Britain’s security and prosperity against the risks in the accelerating global technology arms race.As he prepares for his debut budget, the chancellor said that

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Barclays to cut 5,000 jobs as bank’s bosses hail AI productivity advances

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Equating to the loss of 5% of its 93,000 global staff, job cuts come as bank announces jump in quarterly profitsBusiness live – latest updatesBarclays is cutting 5,000 jobs as part of wider cost-cutting plans that its bosses say are being driven by advances in AI.The job cuts will mean losing about 5% of the

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Global bond sell-off piles new pressure on UK borrowing costs before budget

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Rising cost of 10-year gilt to near 19-year high hikes upfront cost of government investment and limits chancellor’s room for manoeuvreBusiness live – latest updatesInternational bodies warn of rising debt and borrowing risksBurnham stands by claim UK is ‘in hock’ to bond marketsA global sell-off in government bonds has put fresh upward pressure on UK

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Tax the middle earners! Will the PM do it? – podcast

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Former Bank of England economist Andy Haldane said the markets regarded this government as ‘a pretty traditional tax and spend socialist government with better TikTok videos’. Harsh criticism or truth? As pressure mounts on the chancellor, John Healey, to rule out tax rises, what options do they have left? Plus, what can the government do

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UK economy defies forecasts with surprise 0.4% growth in July

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Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid growth of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for the John Healey before next month’s budget.Figures

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