Chancellor insists Labour rebels 'know the welfare system needs reform' as they push for change

Chancellor: Welfare system is unsustainable and needs reform

The chancellor says the welfare system "needs reform", as more than 40 MPs have written to Prime Minister Sir Keir Starmer urging him to pause and reassess planned cuts to disability benefits. Rachel Reeves adds, "the current levels of people going onto these benefits is not sustainable". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Reeves hails UK-US trade deal for British industries

Rachel Reeves has hailed the new UK-US trade deal as being a "good deal" for sectors such as car manufacturing, aerospace, life sciences and steel. The chancellor adds the agreement is a "big improvement from where we were a month ago". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Chancellor welcomes interest rate cut

Chancellor Rachel Reeves has welcomed the cut to interest rates announced by the Bank of England. Interest rates have gone from 4.5% to 4.25%. Ms Reeves said: "We have had four interest rate cuts now in ten months. It's so important that this government has returned stability to the economy." Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Darren Jones slams Badenoch's criticism of US trade deal

The chief secretary to the Treasury has accused Kemi Badenoch of posting her views about the UK's trade deal with the US on social media before reading it. Darren Jones adds the government continues to negotiate with the EU, but will honour Labour's manifesto pledge not to rejoin the single market or customs union. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Bank of England cuts interest rates to 4.25%

The Bank of England has cut interest rates from 4.5% to 4.25%. Shadow chancellor Mel Stride reacted to the news, claiming Labour's policies have prevented higher cuts to interest rates. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

Bowie: Labour welfare plans backed more by Tories

Shadow Scotland Secretary Andrew Bowie said Labour’s welfare reforms may have more support from Conservatives than Labour MPs, accusing Sir Keir Starmer of walking back on ambitious plans. Bowie outlined the need to balance supporting the vulnerable with getting more working-age people into employment, calling it a “difficult balancing act” that every government must tackle. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn