Few surprises as chancellor uses low-key speech blaming ‘global economic storms’ for stoking energy prices and cost of living crisis

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John Healey raised taxes on banks and landlords to fund a £100 winter handout for 20 million families as official forecasts made clear there is no end in sight for the cost of living crisis.

In his first budget, the chancellor blamed “global economic storms” for the grim outlook, as the war in Iran drives up oil and gas prices.

Business secretary says focus for November summit will be trade and youth mobility, but talks will also include ‘future options for relationship’

British officials have begun discussions with the EU about a long-term relationship that could include a return to free movement, the business secretary has said while promising the British people “are the boss” when it comes to what the UK will accept.

Jonathan Reynolds said the focus for British negotiations was the EU summit in November to seal an agreement to ease some trading restrictions and a youth mobility deal. But he said the prime minister, Andy Burnham, had made it clear he wanted to see a long-term and stable relationship with the bloc.

Business secretary says focus for November summit will be trade and youth mobility, but talks will also include ‘future options for relationship’

British officials have begun discussions with the EU about a long-term relationship that could include a return to free movement, the business secretary has said while promising the British people “are the boss” when it comes to what the UK will accept.

Jonathan Reynolds said the focus for British negotiations was the EU summit in November to seal an agreement to ease some trading restrictions and a youth mobility deal. But he said the prime minister, Andy Burnham, had made it clear he wanted to see a long-term and stable relationship with the bloc.