Reeves News & Analysis
2 articles
Market Mood
Children (5-15) Offered Free Bus Travel in England for £100m Scheme
Children aged five to 15 in England will be able to travel for free on participating local buses throughout August due to a £100 million scheme announced by Chancellor Rachel Reeves. Families with two children making a weekly return trip at £1.50 per fare could save approximately £27 during this month. The initiative follows a successful trial in the West of England, which recorded around 1.4 million free journeys. Additionally, the government will suspend tariffs on over 100 products to alleviate cost-of-living pressures, further aiming to reduce expenses for consumers.
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UK Fuel Supply Stable, Chancellor Reeves Reports No Shortages
Chancellor Rachel Reeves stated that the UK is not facing any immediate shortages of petrol, diesel, or jet fuel, following the International Monetary Fund (IMF) meeting. Reeves highlighted that the UK currently has 'no issues with supply at the moment.' New GDP data showed UK economic growth of 0.5% in February, with January's growth revised to 0.1%. The Chancellor plans to announce changes to energy policy that aim to reform the link between gas and electricity prices, as higher gas prices are impacting the cost of electricity.
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