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Chancellor Rachel Reeves has revealed plans for a tech hub between Oxford and Cambridge to “kickstart economic growth and putting more money in people’s pockets”. Industry experts say the infrastructure will add up to £78bn to the UK’s economy within 10 years. Reeves will also announce a £55m investment into supplying an extra 30,000 electric vehicle kerbside charging ports, while confirming Heathrow airport expansion plans.
Leaked documents have revealed that Russian oligarch Roman Abramovich allegedly avoided paying millions of pounds in taxes by leasing out his superyachts. The revelations, reported first by the BBC, show Abramovich was pictured on his £559m yacht Eclipse in the Caribbean one Christmas Day, when it was supposedly chartered by a company based in the British Virgin Islands.
US President Donald Trump’s “freeze on hundreds of billions” in federal loans and grants has stirred “alarm”. The paper calls it Trump’s “latest move” to cut spending, and says it jeopardises funding ranging from medical and scientific research to early childhood education and food aid.
Keir Starmer has likened his government to Margaret Thatcher’s as he promises to cut through “thickets of red tape” to make way for growth. He will take aim at “overreach” by government watchdogs, and end what he calls “vexatious legal challenges”. The prime minister says it is “now essential” to make Labour’s plans on homebuilding and green energy a reality.
The Daily Mail says critics of the chancellor are telling her to “tear down barriers” to growth that she created, as she readies her latest plans to revive what the paper calls the UK’s “flat-lining economy”. Reeves will say she is ready to move “further and faster” in pursuit of growth
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