Latest in Spending Cuts
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Britons cutting back on spending as confidence in economy falls, survey shows
Most feel financial secure but think UK’s economy is worsening, as chancellor plans welfare cuts in spring statement. Consumers are cutting back spending on everyday items amid falling confidence ...The Guardian - 3d -
House GOP budget plan would cut domestic spending by $13 billion
House Speaker Mike Johnson has unveiled his plan to avert a government shutdown by Friday night. The short-term stopgap bill would fund the government until Sept. 30, increase defense spending by ...CBS News - Mar. 10 -
GOP's Burchett berates CNN anchor over spending cuts coverage
Rep. Tim Burchett (R-Tenn.) on Tuesday attacked CNN’s coverage of the Department of Government Efficiency’s (DOGE) spending cuts and accused the network of trying to rally its viewers against ...The Hill - Mar. 11 -
‘Not quite yet beautiful’: Republicans at odds over spending cuts after meeting Trump
Senate Republicans aren’t seeing eye to eye with their colleagues in the House over places to cut spending in order to pay for their extension of the 2017 Trump tax cuts. GOP members of the Senate ...The Hill - Mar. 14 -
Musk’s cuts fail to stop US federal spending hitting new record
Government spending rose to $603bn in February despite hyperactive efficiency drive, data showsFinancial Times - Mar. 12 -
UK forges ahead with billions in welfare spending cuts as growth forecast halved
British lawmakers and the public are waiting to see if Reeves will stick to her self-imposed spending and debt rules.CNBC - 2d -
House GOP seeks spending cuts, defense increases in plan to avert shutdown
House Republicans on Saturday unveiled a six-month stopgap government funding plan, that seeks cuts to nondefense programs while boosting funding for defense. The bill's rollout kicks off a crucial ...The Hill - Mar. 8 -
G.O.P. Spending Bill Would Force $1 Billion Cut to D.C. Budget
Republicans omitted a standard provision approving the District’s budget in a stopgap funding measure needed to avert a shutdown before the end of the week. The result would be a 16 percent cut.The New York Times - Mar. 11 -
Shell plans more cuts to costs and spending but hands CEO bigger bonus
Increase in pay package comes despite fall in profits and as oil company watered down pledge to cut emissions. Business live – latest updates The oil company Shell has revealed plans to ramp ...The Guardian - 3d -
Gulf soccer clubs slash spending as they focus on younger talent
Soccer teams in the Gulf cut transfer spending by nearly half in 2024 compared to the previous year, prioritizing younger talent instead of aging superstars.Yahoo Sports - Mar. 17 -
Crackdown on government credit cards to cut 'wasteful' spending
Purchases include £2,500 spent at a women's shoe shop in Barbados and £1,200 on luxury coffee pods.BBC News - Mar. 17 -
The Week: Defence Spending, Benefit Cuts and The Spring Statement
James and Chris are joined by Lucy Fisher and Stephanie Flanders to discuss the week.BBC News - Mar. 21 -
Will the UK Chancellor announce more spending cuts?
Market Questions is the FT’s guide to the week aheadFinancial Times - 5d -
Reeves announces welfare and spending cuts in Spring Statement
UK chancellor forced to make last-minute savings to shore up the nation’s financesFinancial Times - 2d -
Lululemon says US consumers are cutting back on spending
Athleisure group’s shares sink as it warns on darkening sentiment among American customersFinancial Times - 16h -
Lululemon says US consumers are cutting back on spending
Athleisure group’s shares sink as it warns on darkening sentiment among American customersFinancial Times - 16h -
The Trump tax cuts don’t have to be paid for
Republicans are trying to pass a bill to cut taxes by $4.5 trillion by reducing government spending by $2 trillion, including cutting Medicaid and SNAP by $800 billion, which would be a bad ...The Hill - 1d -
With Medicaid cuts looming, misinformation about immigrants, especially Latinos, spreads
As Republican lawmakers move to cut Medicaid spending, misinformation about immigrants, especially about Latinos, is spreading on social media.NBC News - Mar. 13 -
The Papers: 'Benefit cut for 1m' and 'Putin must not play games'
A mix of stories make up the front of Saturday's papers, with a focus on government spending cuts and the war in Ukraine.BBC News - Mar. 15 -
Farms, Food Banks Cut Off Guard By Spending Cuts
Promising a return to “fiscally responsible initiatives,” the Agriculture Department ended two Biden-era programs that paid farmers to provide food to schools and low-income families.The New York Times - Mar. 13 -
House votes to avoid government shutdown by passing temporary spending bill
The House of Representatives has passed a short-term funding bill to avert a government shutdown. The stopgap bill funds the government until Sept. 30. The measure increases defense spending by $6 ...CBS News - Mar. 11 -
Burn pit fund for veterans on chopping block in GOP spending bill
Democratic lawmakers and veterans’ groups are fuming over a provision in a stopgap federal spending bill passed by House Republicans this week that would cut a Department of Veteran Affairs fund ...The Hill - Mar. 14 -
Consumer Spending Rose Weakly in February
Tepid gains after a January dropoff indicate growing caution among U.S. shoppers amid stock market plunges and DOGE job cuts.Inc. - Mar. 17 -
FirstFT: Musk’s government spending cuts fail to halt rising costs
Also in today’s newsletter, Putin’s frontline visit and a new FT film on Nvidia’s riseFinancial Times - Mar. 13 -
Starmer suffers cabinet uprising over UK spending cuts
Opposition grows to plans in areas such as welfare but prime minister insists he will not bend rules to allow more borrowingFinancial Times - Mar. 13 -
US shoppers cut spending as economic outlook concerns mount
Tariffs, market volatility and political uncertainty threaten to undermine key driver of growth in world’s largest economyFinancial Times - Mar. 16 -
Spring statement: Reeves blames ‘global uncertainty’ for deeper spending cuts
Chancellor says tougher measures required to plug fiscal hole after Treasury watchdog halves 2025 growth forecast. Spring statement: key points Analysis: Reeves does reasonable job of ...The Guardian - 2d -
U.K. Boosts Military Spending and Cuts Welfare in ‘Uncertain World’
The changes come as President Trump’s tariff threats have disrupted global trade and added pressure to the British government’s already strained budget.The New York Times - 1d -
Russell Vought, Trump’s Budget Chief, Wants to Cut ‘Woke’ Spending
Russell T. Vought, leader of the Office of Management and Budget, aims to marry extreme austerity with his Christian values.The New York Times - 6h -
Russell Vought, Trump’s Budget Chief, Wants to Cut ‘Woke’ Spending
Russell T. Vought, leader of the Office of Management and Budget, aims to marry extreme austerity with his Christian values.The New York Times - 6h -
Russell Vought, Trump’s Budget Chief, Wants to Cut ‘Woke’ Spending
Russell T. Vought, leader of the Office of Management and Budget, aims to marry extreme austerity with his Christian values.The New York Times - 6h -
Russell Vought, Trump’s Budget Chief, Wants to Cut ‘Woke’ Spending
Russell T. Vought, leader of the Office of Management and Budget, aims to marry extreme austerity with his Christian values.The New York Times - 1h -
More NOAA cuts, 1,000 layoffs expected, sources say
National Oceanic and Atmospheric Administration (NOAA) employees are expecting more layoffs at the agency, sources say. This comes after drastic cuts as part of President Trump's measures to shrink ...CBS News - Mar. 10 -
Louisiana voters in Speaker Johnson’s district react to Medicaid cut threats
Residents of Vinton, La., which is part of House Speaker Mike Johnson’s district, are concerned that Republicans will make cuts to Medicaid to reduce government spending. NBC News’ Melanie Zanona ...NBC News - Mar. 12 -
In rural Louisiana, Speaker Mike Johnson’s constituents fear potential Medicaid cuts
In House Speaker Mike Johnson’s backyard, many residents rely on anti-poverty programs to help make ends meet — and are pleading with the Louisiana Republican to protect those benefits as Congress ...NBC News - Mar. 12 -
White House ‘not going to cut Social Security:’ LaCivita
The White House won’t cut Social Security, President Trump’s 2024 co-campaign manager Chris LaCivita said in a new interview in response to a question about tech billionaire Elon Musk’s comments ...The Hill - Mar. 14 -
Treasury Secretary Bessent says a 'detox' period for the economy does not have to be a recession
The Trump administration is aiming for a "smooth transition" as it looks for ways to cut government spending.CNBC - Mar. 13 -
Rachel Reeves warned of tax rises ahead despite £14bn plan to fix public finances
Chancellor makes cuts to welfare spending as economic forecasts slashedFinancial Times - 1d