UK Daily Trending stories
Media Coverage
The story is popular on the right-leaning newspapers – but had little front page coverage on the left.
Online the story features at the top of the website and has dipped in and out of popularity on social media as the morning progressed.
Trending – Chancellor Rachel Reeves to ‘fiddle’ the debt
Rachel Reeves has received several warnings via the media this week over her plans to fiddle Britain’s debt rules in order to release up to £50 billion to be used on investment spending.
The Budget is due next week and will set out the government’s plans for the economy. In the run-up to the statement, speculation and analysis features on the newspapers – in print and online – and are expected to do so until the financial statement is released.
The facts
- Chancellor Rachel Reeves has confirmed her plans to change how the government defines its assets
- The move will allow the government to borrow around £20 billion more per year
- The extra billions will be used to fund investment
- Rachel Reeves is to announce her full budget on 30 October
The reaction
The likes of the Telegraph, Mail and Times react with concern over the news and how it could potentially affect its readers. Several publications suggest rule tweaks will “punish families with mortgages,” whilst others suggest pensioners will suffer under the budget. Elsewhere, there are fears the chancellor’s plans and any increase in government borrowing could mean interest rates stay higher for longer.
The left-leaning media reports that the changes will mean an extra £20bn a year to be invested into the country. One publication says crumbling schools and hospitals are set to get a boost from the budget.
Trending on social media
What are users saying on Twitter/X?
Read the Tweets!
#GordonBrown changed spending rules so he could squander more taxpayers' money on his pet projects, leaving the country worse off. No #RachelReeves is planning to repeat the experiment. Hey, Rache, it's our money, not yours.
— Nigel Hurneyman (@Nigelh7n) October 25, 2024
@RachelReevesMP prepping the Halloween budget 🎃#CartoonArt #RachelReeves pic.twitter.com/DMjV9aVAD1
— Michael Mkpadi (@pcmguru) October 24, 2024
So let me get this straight. The Chancellor of the Exchequer is not actually an Economist, and her previous career was basically handling customer complaints at Halifax? Jesus fucking Christ, this can’t be real. #RachelReeves https://t.co/q7vsGlKZ6M
— Sienna Spiller (@SSpiller4751) October 24, 2024
The arrogance and hypocrisy of Truss and Farage is off the scale.
— Magapanthus Smith (@magapanthus) October 23, 2024