Tory and Lib Dem-run authorities face deep funding cuts while Labour strongholds enjoy £1.6bn increase Daily Telegraph 16/10/26 Andy Burnham’s government has been accused of waging a £500m “class war” on councils. Conservatives and Liberal Democrats say ministers are deliberately cutting funding from affluent rural councils to bankroll urban Labour Party strongholds. An analysis by The Telegraph shows that Tory and Lib Dem-dominated councils in England will receive a £487m cut in government-controlled grants and funding during this parliament. Labour councils, by contrast, will enjoy a £1.6bn funding increase. The cuts are so deep that some town halls have warned they would be forced to impose dramatic increases in council tax to make up the shortfall. Councillors have said that their ability to fix potholes, collect bins and build new infrastructure are “under threat” as a result of the funding cuts. Advertisement Kemi Badenoch said she was prepared to challenge the cuts in c...
Chancellor prepares to target lenders despite playing down fears of higher levies in the Budget Daily Telegraph 15/10/26 John Healey is poised to launch a tax raid on banks despite describing financial institutions as “the jewel in the British economic crown”. The Chancellor is preparing to target lenders in his Budget on Oct 28 as he faces pressure to repair Britain’s public finances. It comes despite Mr Healey praising banks on Thursday in comments that raised hopes that the City would be spared. Speaking in Bangkok at an International Monetary Fund (IMF) event on Thursday, the Chancellor said of banks: “They’re a big contributor to the economy. “They’re an important part of our business. They’re a part of the jewel, if you like, in the British economic crown.” The Chancellor is said to be considering raising a surcharge on bank profits above £100m from 3pc to 8pc. The move has been advocated by unions and Labour figures, including Angela Rayner, who argue it could raise £2bn for the...