• PODCAST: Catch up on all the top stories, from Trump revoking Biden's pardons in an audacious step to Governor Newsom’s surprising announcement about new statues.

Brits view Rachel Reeves As 'ineffective' as she is set to present a crucial Spring Statement tomorrow.

According to polling conducted by More in Common, the term identified as most frequently used when people described the Chancellor was found to be this particular word.

It also exposed the scale of the gloom among the public, with nearly half not convinced the cost of living crisis will ever end.

Only 29 percent think that Labour will enhance matters for them individually.

The revelations came as Ms Reeves plans to introduce £15 billion worth of reductions during the fiscal event, in her efforts to get the nation’s finances under control.

Halted expansion and increasing debt servicing expenses—along with concerns about a Donald Trump A trade war has caused significant disruption to the plans formulated during the autumn. Budget .

This morning, the government announced £2 billion in grant funding aimed at building between 18,000 and 20,000 new affordable homes across England. This move comes as Ms. Reeves attempts to ease Labour’s frustration over ‘austerity’ measures intended to reduce welfare benefits.

The director of "More in Common," Luke Tryl, stated: "Generally speaking, people in Britain feel that the Spring Statement will have adverse personal effects on them. They also strongly believe that groups such as the disabled, pensioners, individuals receiving welfare, and farmers will experience negative impacts due to this statement."

She needs to address a potential shortfall in public funds amounting to up to £15 billion, despite unveiling plans to reduce welfare spending by £5 billion.

This will require reduced expenditures since Ms. Reeves has excluded raising taxes for now.

Even though total budgets are anticipated to increase in actual values over the next few years, departments without protection will face reductions.

At yesterday’s event at Leicester University, Bank of England Governor Andrew Bailey stated that the UK is encountering significant challenges in achieving economic expansion.

Tomorrow, the Treasury's OBR watchdog is anticipated to reduce its economic growth projections for this year by half, aligning with the forecast from Threadneedle Street.

Mr. Bailey highlighted the importance of restructuring how UK businesses operate and leveraging advancements in artificial intelligence.

We have an essential task ahead to increase the economy's potential growth rate," he stated. "However, we're facing significant obstacles.

The integration of technology with commerce continues to be a crucial path for boosting efficiency.

He stated that AI is the technology most probable to significantly boost economic growth, and he dismissed concerns about substantial job losses due to automation, drawing parallels between this technological shift and the impact of the Industrial Revolution.

He stated that there was "transitional discomfort experienced at the time," but it did not result in widespread job losses. He doesn’t think thatAI will cause such outcomes either.

Following the Bank’s decision to maintain interest rates at 4.5 percent last week, he commented on the situation, noting that uncertainties regarding trade had escalated due to recent American tariff implementations.

Seven out of the Bank's nine-member Monetary Policy Committee opted to maintain interest rates at their previous level during an early March meeting as they evaluate global economic changes.

President Trump has recently implemented tariffs on steel and aluminum imported from the UK and European Union countries, along with those coming from Canada, China, and Mexico. This move has triggered a series of reciprocal tariffs globally.

The MPC stated that the economic forecast for the UK faced potential risks, and there was uncertainty regarding how these policy adjustments might influence inflation.

Read more