Richard Tice says party will concentrate on cutting civil service and scrapping net zero once in government * UK politics live – latest updates Reform UK’s deputy leader has admitted the party cannot deliver the £90bn in tax cuts promised in its manifesto, saying it would concentrate on public spending cuts once in government. Richard Tice said key election pledges such as lifting the income tax threshold would be an “aspiration” and that once in government Reform would concentrate on cutting the civil service and scrapping net zero. Continue reading...

Possibility of ‘sharp market correction has increased’, says Bank’s financial policy committee * Business live – latest updates The Bank of England has warned there is a growing risk of a “sudden correction” in global markets as it raised concerns about soaring valuations of leading AI tech companies. Policymakers said there were also threats of a “sharp repricing of US dollar assets” if the Federal Reserve lost credibility in the eyes of global investors. It comes as Donald Trump’s continues to attack the US central bank and threaten its independence. Continue reading...