Britain’s unemployment rate rose to five percent in the third quarter, the highest since early 2021, raising concerns ahead of the government’s upcoming budget.

Reeves gave particular importance to sticking with her “iron-clad” fiscal rules. These, she argued, were essential for showing she is being responsible with the nation’s finances and preventing a further rise in the cost of borrowing (the interest the government pays on its debt).

A slew of signals pointed to a weakening labour market in the wake of October’s Budget, with demand for workers slowing and the rate of joblessness rising. Unemployment rose to 4.4 per cent in the three months to November, up from 4.3 per cent previously ...

Scottish Labour leader Anas Sarwar has refused to be drawn on speculation that Chancellor Rachel Reeves will raise UK income tax. While an increase would not apply in Scotland - which has distinct bands and rates - it would lead to a cut in the Holyrood budget under devolved funding arrangements, known as the fiscal framework.

It does not take a genius to work out that raising the amount of National Insurance employers have to pay would lead to unemployment going up, writes the HR specialist.