The UK Economy shrank by 0.3% in April, exceeding economists’ expectations of a 0.1% contraction, largely due to President Trump’s tariff policies.

Chancellor Rachel Reeves has unveiled a bold, near‑£113 billion, four‑year investment‑led spending review ahead of the next general election, marking a clear shift from austerity to a “renewal” agenda. 

Rachel Reeves announced a funding increase for key sectors: the Ministry of Defence will see a rise in spending from 2.3% to 2.6% of GDP by 2027, while the NHS receives an additional £29bn per year.

Treasury Minister Emma Reynolds has indicated that tax rises are a possibility in the autumn budget, emphasising the importance of fiscal stability amid global economic uncertainties.

A report urges the government to ban “No Ball Games” signs and promote outdoor play in children’s lives, highlighting the negative impact of smartphones on playtime.

The Spending Review leads Wednesday’s newspaper front pages with the left-leaning press celebrating the investment into the country – including billions of pounds being put into social housing and the NHS. Almost £90 billion is set to go to science and tech and the U-turn on winter fuel is continuing to be praised. There’s a more cautious and sceptical tone from the right-leaning press who see the chancellor’s U-turn on winter fuel as evidence she is unable to do her job – and in regards to the spending review, they are concerned about how the country will pay for the investments, suggesting tax rises are set for the Autumn budget.