UK budget watchdog in danger of strangling economic growth, says TUC boss

Britain’s budget watchdog is in danger of strangling growth and should be modernised to ditch its “hardwired” support for austerity economics, the Trades Union Congress has warned.Less than two weeks before Rachel Reeves’s autumn budget, the trade union umbrella group said the Office for Budget Responsibility (OBR) was at risk of being a “straitjacket” on growth in living standards.It called for an urgent review into the OBR’s role at the heart of the chancellor’s budget-setting process from the earliest opportunity after her 26 November tax and spending statement.Paul Nowak, the TUC general secretary, told the Guardian: “I don’t think the chancellor, whatever happens at the budget, wants to go down the road of austerity 2.0

Business secretary backs shift to electric arc furnaces at British Steel plant

The business secretary, Peter Kyle, has backed a shift to cleaner electric arc technology at the state-controlled British Steel plant, raising questions about the future of the UK’s last remaining blast furnaces.Kyle said the government was “keen to see that transition happen”, as he works on a new steel strategy, which is expected to be published in December.A shift to electric arc furnaces at Scunthorpe, Lincolnshire, would secure the future of steel production at the plant – under emergency state control since April – as the UK tries to meet its target of net zero carbon emissions.However, it would also raise doubts about the fate of blast furnaces that employ thousands of people, and the UK government’s previous pledges to preserve Britain’s primary steelmaking ability, producing steel from iron ore.When the government recalled parliament in April to take control of British Steel, it feared the site’s Chinese owner, Jingye Steel, was planning to close it permanently, with the loss of as many as 2,700 jobs

One of Britain’s biggest housebuilders urges government to support first-time buyers

The boss of one of Britain’s biggest housebuilders has urged the government to announce more support for first-time buyers to revive a property market that has cooled in the “very long shadow” of the looming budget.Jennie Daly, the chief executive of Taylor Wimpey, also warned against an “accumulation of regulation”, arguing that a “perverse outcome” of green measures could be that it becomes unviable to build new homes in poorer areas of the country.The expiry of a stamp duty holiday in March marked the first time in 60 years that there was no direct support scheme targeted at first-time buyers, Daly said.She called for a similar property tax break, or the reintroduction of a help-to-buy equity loan scheme to aid first-time buyers, but said she had “limited expectations” that this would happen in the 26 November budget.David Thomas, who runs the rival housebuilder Barratt Redrow, has also called for practical support, particularly for first-time buyers

Life as a food delivery worker: ‘Sometimes men open the door naked’

To earn a living as a delivery rider, some work 10-12 hour days, contending with low pay, exhaustion, accidents, injuries and harassment. Is this a new form of modern slavery?“I earn more cleaning toilets than I do from being a Deliveroo rider,” says Marina, a Brazilian woman who juggles two jobs to support her 12- and 18-year-old daughters.It’s a “bullshit, horrible job”, says Adam, from Sudan, who combines riding for Deliveroo with studying for a law degree. “On a good day I can earn £50 or £60, although it’s really hard doing deliveries using a pedal bike.”“As humans we are invisible to the people we deliver to,” says Mohammed, a Syrian refugee who also works as a Deliveroo rider

Half of all UK jobs shed since Labour came to power are among under-25s

Keir Starmer has been warned that Britain’s youth are in danger of becoming a “lost generation” on his watch as it emerged almost half of all jobs shed since Labour came to power are among the under-25s.With the government under fire before the autumn budget, Guardian analysis shows the dramatic leap in UK unemployment to the highest levels since the Covid pandemic is being fuelled by a youth jobs crisis.As many as 46% of the 170,000 jobs lost from company payrolls since June last year are from those under the age of 25 – the equivalent of more than 150 jobs lost per day.David Blunkett, the former Labour education secretary, said that while the government was taking action there was a danger an entire generation of young people would be let down.“I think we’ve got to get our act together

‘I have saved exactly £0’: how soaring costs have hit Britons’ nest eggs and pensions

Andrew, a writer in his mid-30s from Essex, would be considered middle class by most, but his financial setup is precarious.“I have £4k in my savings account, and around £4k in stocks and shares. With a mortgage, childcare fees and other living expenses to cover, our monthly outgoings are always at least £2,800. Our savings would quickly vanish if our household income ceased,” he said.Andrew has managed to save £30,000 into a workplace pension, but feels unable to continue saving at the moment