"The board, which will meet weekly, is designed to ensure closer coordination between No 10 and the Treasury after criticism of Chancellor Rachel Reeves's first Budget, which drew backlash from business groups over steep tax rises. The new structure will be co-chaired by Torsten Bell, pensions minister and former director of the Resolution Foundation, and Minouche Shafik, Starmer's recently appointed chief economic adviser."
"Chancellor Rachel Reeves faces growing pressure ahead of November's Budget, with the Office for Budget Responsibility (OBR) expected to downgrade forecasts. To stay within her self-imposed fiscal rules, she may need to find £25bn-£50bn in additional tax rises, according to independent estimates. Reeves was criticised after her last Budget for raising employer national insurance contributions by £25bn, a move business leaders said increased hiring costs and fuelled inflationary pressures."
Prime Minister Keir Starmer is strengthening control over economic strategy by expanding a cross-government Budget Board to shape the Autumn Statement on 26 November. The weekly board will coordinate No 10 and the Treasury after backlash to Chancellor Rachel Reeves’s first Budget over steep tax rises. The committee will be co-chaired by Torsten Bell and Minouche Shafik and include Katie Martin, Varun Chandra, Darren Jones, Morgan McSweeney, No 10 and No 11 communications chiefs, and Tim Allan. The line-up aims to align economic and political messaging and add a stronger business perspective. Reeves may need £25bn–£50bn in extra taxes to meet fiscal rules amid expected OBR downgrades.
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