Embattled UK Prime Minister Keir Starmer appeared to buy himself a reprieve from efforts to oust him, after a high-stakes Cabinet meeting that ended with a public show of support from a handful of key allies.

In a meeting in Downing Street on Tuesday, Starmer sought to hold back the gathering calls for his resignation, according to people familiar with the matter. The premier asked ministers to see him individually to talk about his future, rather than having that discussion around the cabinet table, said the people, who asked not to be identified while sharing private conversations.

Even as the meeting was ongoing behind closed doors, Starmer released a defiant statement denouncing efforts by Labour members of Parliament to force him out in the wake of last week’s disastrous local election results as “destabilizing” for the country. He indicated that he wouldn’t go without a leadership fight, in a challenge to potential rivals, such as Health Secretary Wes Streeting.

(Continue Reading – BBG)

As Australians grapple with higher inflation and other flow-on effects from the war in Iran, the government unveiled its 2026-27 budget, seeking to tackle generational inequality, while shoring up the country’s fuel supplies and defenses. Here’s a breakdown of the winners and losers in Treasurer Jim Chalmers’ fiscal blueprint.

Workers are set to keep more of their income in their pockets from next year. Building on tax cuts in previous years, 13.3 million workers will get an annual tax offset of up to A$250 from July 2027, increasing the effective tax-free threshold by almost A$1,800 to A$19,985. Taxpayers will also be able to claim A$1,000 worth of work expenses without a receipt from next financial year.

The A$20,000 instant asset write off for small business has been made permanent from July 1. Businesses with turnover of under A$10 million will be able to immediately deduct assets up to that threshold.

(Continue Reading – BBG)