Chancellor tweaks rules to release billions – Paper Talk

Friday’s front pages continue their coverage of the upcoming budget with speculation and analysis offered up on the front pages. 

King Charles is featured on many of the front pages during a trip to Somao – as a handful of headlines reflect the international calls for Britain – and the royal family – to pay reparations over its role in slavery.

A few of the papers lead on their own exclusives – independent stories away from the big headlines today – with domestic topics such as the rise in shoplifting finding prominence on the splashes. 

To little surprise, Manchester United’s 1-1 draw in the Europa League leads the back pages. 

Chancellor tweaks rules to release billions

‘Chancellor tweaks rules to release billions to fund investment,’ writes the FT.

The FT says the chancellor has confirmed her plans to change how the government defines its assets in a way that will allow it to borrow around £20bn more per year to fund investment. Rachel Reeves writes in the paper saying the change will ensure Britain avoids “the falls in public sector investment that were planned under the last government.” 

‘Intrest rates could stay higher for longer,’ warns the Telegraph.

The Daily Telegraph says Jeremy Hunt has warned about the chancellor’s plans and any increase in government borrowing could mean interest rates stay higher for longer. The paper says “traders are still reeling” from the Liz Truss mini-budget that sparked turmoil in the financial markets. 

‘Reeves punishing families with mortgages,’ quotes the Mail.

The Mail quotes Jeremy Hunt as saying Rachel Reeves is risking “punishing families with mortgages” if her changes push up interest rates. 

‘Plans could damage the retirement living standards,’ reports The Times.

The Times leads with a warning for the chancellor – this time from Labour’s Lord Blunkett. In a letter to the paper, he expresses his concern about reports the chancellor plans to impose national insurance on employers’ pension contributions. Blunkett warns the move could lead to employers reducing their pension contributions and damage the retirement living standards.

King visits Samoa as PM rules out reparations

‘PM open to non-cash reparations,’ says The Guardian.

The Guardian reports the prime minister has ruled out Britain paying reparations but has opened the door to non-financial reparations for Britain’s role in the slave trade. 

It comes amid renewed pressure from Caribbean countries for reparations to be among the issues discussed at the Commonwealth Heads of Government Meeting, which opens in Samoa on Friday. 

‘It’s time to listen on the subject of reparations,’ says the Mirror.

The Daily Mirror says it is “Time to listen” on the subject of reparations. 

‘There’s no case for Britain to answer,’ claims the Telegraph.

The Daily Telegraph says there is “no case” for Britain to answer and demands for cash “stand on shaky moral ground.” 

‘PM handling of row shows his weakness,’ says the Mail’s editorial.

The Daily Mail’s editorial blasts the prime minister’s handling of the row. It says politicians from elsewhere in the Commonwealth – who are “astute at spotting the weakest link” – appear to have outsmarted him by securing a debate on reparations.