Delighted to become new @BloombergUK political editor, following the legendary @kitty_donaldson As always please get in touch with any stories / tips / if you fancy lunch — even if you’re not free for six weeks…

The OBR faces serious questions about its future this weekend The FCA will assess the results of the probe into the budget to identify any market manipulation Some ministers and officials wish they could abolish the OBR Certainly a chance for reform https://t.co/ysyEALw6Ww

NEW: Bloomberg Saturday read After that hellish budget, we’ll find out what Keir Starmer is made of in the next six months Allies and critics say it’ll come down whether he can a) stop the day-to-day messiness at the top of govt and b) convince MPs and voters that ‘Starmerism’

Small point but when sources briefed on Friday 14th about a hole ‘close to £20b’ and needing to raise ‘around £30b’ - that is actually what happened Headroom was £9.9b in March The deterioration took it to £4b The welfare / winter fuel u-turns took them to -£3b The nailed on

Worth saying that this doesn't prevent the UK from striking bilateral defence deals with EU nations British components can also make up 35% of SAFE-backed projects, similar to this week's Sweden-Poland sub deal, of which the UK holds around 30% of the workshare through Babcock

Waymo is designed to obey road rules & never drives under the influence. Learn why these advocates say it could save lives.

NEW: UK govt confirms talks with the EU on SAFE have failed Nick Thomas Symonds says “it is disappointing that we have not been able to conclude discussions on UK participation in the first round of SAFE” “Negotiations were carried out in good faith, but our position was always

EXCLUSIVE: Negotiations for the UK to join the EU’s flagship defence fund SAFE have failed, people familiar with the matter said, a major blow to European security. Despite talks between officials this week, the two sides remained far apart on the financial contribution Britain

A dire YouGov poll on the budget lays out the scale of the task for Keir Starmer and Rachel Reeves 48% see it as unfair vs 21% who see it as fair That’s the second worst score for a budget recorded by YouGov. Only the Truss mini-budget fared worse 50% say it will leave their

New: The government has watered down its flagship workers’ rights package in a bid to quell concerns of businesses who had warned the legislation would damage growth The employment rights bill will no longer award so-called “day one” rights for unfair dismissal Instead the

Two pieces of good news for Rachel Reeves today Traders are now all but locked in on a BoE interest rate cut in December: https://t.co/m99WJzmmKt JP Morgan announced it’ll build a new HQ in Canary Wharf, a multi-billion pound endorsement of UK finance:

Markets slightly tempering their optimism following yesterday’s rally as they digest the impact of the budget 10 year gilt yield back up this morning Pound and FTSE underperforming Bit of a reality check after the budget did little to change Britain’s fundamental problems

STOCKHOLM SYNDROME CHRISTIANITY: Why America’s Christian Leaders are Failing—and What We Can Do About It! Frank Turek: “Brilliant.” Alisa Childers: “Jam-packed with really practical advice… Pick up the book.” Eric Metaxas: “Every thinking Christian has an obligation to read.”

NEW: Top economists warn Rachel Reeves’ budget lacks a growth plan and does not credibly repair the public finances. @PJTheEconomist: "It was a bits and pieces budget. There was no sense of reform or direction, I think is the most worrying part of this." "The shape and size of

** NEW: Bloomberg Budget analysis ** — Labour MPs say Rachel Reeves has done enough to help her and Keir Starmer survive. Markets reacted positively. But on both fronts there’s little sign this was a turning point longer-term. — The OBR conclusion that the budget does nothing

5.4 million workers will have been pushed into higher tax brackets of between 40% and 45% by the start of the next decade after Rachel Reeves’ huge tax rise on working people Via @tomelleryrees

Exclusive: Rachel Reeves tells @BloombergTV she can’t rule out more tax rises in the future “No chancellor can write future budgets,” Reeves tells @lizzzburden Change from last time when she promised not to come back for more Story by @Joe_Mayes

Snap podcast budget reaction here >>>

Gilt yields continuing to fall as investors cautiously welcome the budget headroom. 30 year yield drops 10 basis points. That’s the rally Reeves wanted after initial chaos caused by OBR

My budget summary: how Reeves tried to satisfy the 3 key audiences. MPs: scrap 2-child benefit. Public: cost-of-living help. Markets: bigger headroom. Paid for by big hit to working people with threshold freezes and helped by OBR numbers

One of the most interesting lines in the OBR analysis: it says none of the policy measures boost growth. Govt says its number one priority is growth - but couldn’t find a budget measure to lift growth. P62 here https://t.co/XUzpEitqjs

Bloomberg budget first take by @PhilAldrick @Joe_Mayes Reeves’ £26 Billion Tax Hike Calms Markets After Chaotic Rollout https://t.co/r13poSbEJz

Markets are so far accepting the budget, if not exactly embracing it Gilts and the pound headed slightly higher after swinging around as investors took comfort in higher headroom However with many measures backloaded there is still scepticism over how credible this package is