Bloomberg Daybreak: Europe Edition Reeves Mulls Tax U-Turn, China’s Economy Falters, Keeping Vintage Time
Nov 14, 2025
Tiwa Adebayo, a political reporter for Bloomberg, discusses UK Chancellor Rachel Reeves' potential reversal on proposed income tax hikes, raising questions about political risks and alternatives prepared in the budget. Alan Wong, editor focused on China’s economy, dives into disappointing economic data, highlighting a record slump in investment and slow retail sales. He examines Beijing’s cautious approach to stimulus and how upcoming five-year plans aim to tackle deep-seated issues affecting consumption.
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Reeves Mulls Dropping Income Tax Hike
- Chancellor Rachel Reeves may drop planned headline income tax rises to avoid breaking a manifesto pledge.
- That decision would force the government to find up to £35 billion from other, smaller measures.
Tariff Cuts Aim To Lower Consumer Prices
- President Trump is preparing major tariff cuts and trade frameworks to lower consumer prices on goods and food.
- The deals target barriers for products like bananas and coffee to address voter concerns about living costs.
EU Moves To Centralise Market Supervision
- The EU plans to expand ESMA's powers to oversee crypto, trading venues and clearing houses.
- The move aims to centralise market supervision and create a watchdog more like the US SEC.