UK Chancellor of the Exchequer Rachel Reeves expanded her fiscal headroom to £22 billion by upping a range of taxes including: a levy on homes valued above £2 million, increasing fuel duty, and freezing the threshold people start paying income tax for longer. But her crucial budget was overshadowed when the Office for Budget Responsibility released its economic analysis, including all the budget's key measures, ahead of the Chancellor's big speech. Our budget top team of Bloomberg's Chief UK economist Dan Hanson, our UK Political Editor Alex Wickham, and Opinion Columnists Rosa Prince and Marcus Ashworth.

UK Chancellor of the Exchequer Rachel Reeves expanded her fiscal headroom to &pound;22 billion by upping a range of taxes including: a levy on homes valued above &pound;2 million, increasing fuel duty, and freezing the threshold people start paying income tax for longer. But her crucial budget was overshadowed when the Office for Budget Responsibility released its economic analysis, including all the budget's key measures, ahead of the Chancellor's big speech. Our budget top team of Bloomberg's Chief UK economist Dan Hanson, our UK Political Editor Alex Wickham, and Opinion Columnists Rosa Prince and Marcus Ashworth.

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.

Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.

Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg’s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.

Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe is the essential way to start your morning informed and ahead.

Bloomberg Daybreak Europe is the daily morning podcast that helps you understand the stories shaping Europe and the world before the day gets going.
Produced in the early hours each weekday, the show delivers fresh reporting, sharp analysis and clear context on politics, business and global markets by 7am London time. From decisions made in Brussels and London to developments across the global economy, Daybreak Europe connects the dots between power, policy and money.
Hosted by Stephen Carroll in Brussels and Caroline Hepker in London, and powered by Bloomberg&rsquo;s global network of more than 3,000 journalists and analysts, the podcast goes beyond headlines to explain what is changing, why it matters and what could come next.
Trusted by professionals, business leaders and investors, but made for anyone curious about how economics and politics shape everyday life, Bloomberg Daybreak Europe&nbsp;is the essential way to start your morning informed and ahead.

Bloomberg Daybreak: Europe Edition

Special Episode: Reeves Hikes Taxes After Budget Pre-Release Shambles

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/1d6760b0-5465-4fc5-80fd-b3a100f9eb90/transcript

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) President Donald Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz.

(2) US President Donald Trump called on other nations to wrest control of the Strait of Hormuz as Iran maintained missile fire across the Persian Gulf, expressing his frustration that the monthlong war remains unresolved.

(3) Europe is expected to have enough jet fuel to avoid shortages in April, according to people directly involved in the aviation fuel market. But that situation could change in May, as the conflict in the Middle East continues to rock global energy markets.

(4) Christine Lagarde used an audience of high-level Group of Seven officials to challenge Treasury Secretary Scott Bessent’s optimism that the Iran war’s economic fallout will be short-lived, according to people familiar with the matter.

(5) UK Prime Minister Keir Starmer sought to draw attention to how his government is helping Britons with the rising cost of living, even as he faces growing pressure to announce further support because of the economic effects of the Iran crisis.

(6) OpenAI has completed a deal to raise $122 billion from investors at an $852 billion valuation, marking the company’s largest funding round to date by far and bolstering its costly push for more chips, data centers and talent.

(7) American astronauts last set foot on the moon in 1972. More than half a century later, NASA is preparing to take a big step toward returning.

Podcast Conversation: King Charles to Go Ahead With US Visit Despite Trump Spat

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump said he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals and would leave it to other nations to resolve issues with the Strait of Hormuz. (2) US President Donald Trump called on other nations to wrest control of the Strait of Hormuz as Iran maintained missile fire across the Persian Gulf, expressing his frustration that the monthlong war remains unresolved. (3) Europe is expected to have enough jet fuel to avoid shortages in April, according to people directly involved in the aviation fuel market. But that situation could change in May, as the conflict in the Middle East continues to rock global energy markets. (4) Christine Lagarde used an audience of high-level Group of Seven officials to challenge Treasury Secretary Scott Bessent&rsquo;s optimism that the Iran war&rsquo;s economic fallout will be short-lived, according to people familiar with the matter. (5) UK Prime Minister Keir Starmer sought to draw attention to how his government is helping Britons with the rising cost of living, even as he faces growing pressure to announce further support because of the economic effects of the Iran crisis. (6) OpenAI has completed a deal to raise $122 billion from investors at an $852 billion valuation, marking the company&rsquo;s largest funding round to date by far and bolstering its costly push for more chips, data centers and talent. (7) American astronauts last set foot on the moon in 1972. More than half a century later, NASA is preparing to take a big step toward returning. Podcast Conversation: <a href="https://www.bloomberg.com/news/articles/2026-03-31/king-charles-iii-to-travel-to-us-on-state-visit-in-late-april">King Charles to Go Ahead With US Visit Despite Trump Spat</a>

Trump: Leaving Iran Within 3 Weeks, Hormuz Frustration, Moon Mission Launch

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3d964f47-23a9-495c-93d0-b41f005e5911/transcript

Your morning briefing.

All the news you need to start your day.

On today's podcast:

(1) Oil fluctuated after the Wall Street Journal reported that US President Donald Trump told aides he’s willing to end the military campaign in Iran even if the vital Strait of Hormuz remains largely closed.

(2) An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai early on Tuesday in one of the most significant attacks on a vessel in a month of war, pushing oil prices higher and heightening tension around the vital Strait of Hormuz.

(3) Iran is pushing the Houthis to prepare for a renewed campaign against Red Sea shipping, contingent upon any further escalation by the US in its war on the Islamic Republic, according to European officials familiar with the matter.

(4) Secretary of State Marco Rubio said the US may need to reassess its relationship with NATO after the Iran war is finished, calling the military alliance’s alleged lack of support during the Middle East conflict “very disappointing.”

(5) China’s factory activity expanded for the first time this year despite higher energy prices and disruptions caused by the escalating conflict in the Middle East.

(6) UK shoppers should brace for a wave of price increases, the retail industry warned as a survey taken immediately after the outbreak of the US-Iran war found higher energy costs had yet to filter through to household budgets.

(7) Russia’s main security agency is expanding its sweeping surveillance powers, deepening the state’s reach into economic and social life to suppress any risk of dissent to President Vladimir Putin.
 

Your morning briefing.
All the news you need to start your day. On today's podcast: (1) Oil fluctuated after the Wall Street Journal reported that US President Donald Trump told aides he&rsquo;s willing to end the military campaign in Iran even if the vital Strait of Hormuz remains largely closed. (2) An Iranian drone hit a fully laden Kuwaiti oil tanker off Dubai early on Tuesday in one of the most significant attacks on a vessel in a month of war, pushing oil prices higher and heightening tension around the vital Strait of Hormuz. (3) Iran is pushing the Houthis to prepare for a renewed campaign against Red Sea shipping, contingent upon any further escalation by the US in its war on the Islamic Republic, according to European officials familiar with the matter. (4) Secretary of State Marco Rubio said the US may need to reassess its relationship with NATO after the Iran war is finished, calling the military alliance&rsquo;s alleged lack of support during the Middle East conflict &ldquo;very disappointing.&rdquo; (5) China&rsquo;s factory activity expanded for the first time this year despite higher energy prices and disruptions caused by the escalating conflict in the Middle East. (6) UK shoppers should brace for a wave of price increases, the retail industry warned as a survey taken immediately after the outbreak of the US-Iran war found higher energy costs had yet to filter through to household budgets. (7) <a href="https://www.bloomberg.com/news/articles/2026-03-31/in-putin-s-russia-the-federal-security-service-is-tightening-its-grip">Russia&rsquo;s main security agency is expanding its sweeping surveillance powers</a>, deepening the state&rsquo;s reach into economic and social life to suppress any risk of dissent to President Vladimir Putin. &nbsp;

US Reportedly Eyes War Exit, Fully-Laden Tanker Hit, Russia Spies Tighten Grip

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/6b6299e0-7542-439c-abed-b41e0080b85a/transcript

Your morning briefing. All the news you need to start your day.

On today's podcast:

(1) President Donald Trump said that Iran “gave” the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating.

(2) Attacks in the Middle East conflict extended into a fifth week Sunday, with Israel striking Tehran and Saudi Arabia intercepting almost a dozen drones, a day after Yemen-based Houthi militants entered the war.

(3) Oil advanced as Iran-backed Houthi militants in Yemen entered the Middle East war and more US troops arrived in the region, raising fears the widening conflict will cause further chaos for energy markets.

(4) UK Chancellor of the Exchequer Rachel Reeves will urge Group of Seven partners to boost domestic energy supplies and warn the recent surge in oil and gas prices is playing into Vladimir Putin’s hands.

(5) French authorities detained two new suspects in connection with a foiled bombing near the Bank of America  office in Paris, which officials have said is likely linked to the conflict in the Middle East.

(6) Once a global hub for entry-level jobs, London is now the epicenter of a growing youth joblessness crisis that is threatening to blight the futures of hundreds of thousands of people and fuel a backlash against Prime Minister Keir Starmer’s Labour government in key municipal elections in just over a month.

Podcast Conversation: America Is Depleting a Bigger Weapon Than Missiles: Max Hastings

Your morning briefing. All the news you need to start your day. On today's podcast: (1) President Donald Trump said that Iran &ldquo;gave&rdquo; the US most of the 15 demands it issued to Tehran to end the war, even as it remains unclear whether either side is negotiating. (2) Attacks in the Middle East conflict extended into a fifth week Sunday, with Israel striking Tehran and Saudi Arabia intercepting almost a dozen drones, a day after Yemen-based Houthi militants entered the war. (3) Oil advanced as Iran-backed Houthi militants in Yemen entered the Middle East war and more US troops arrived in the region, raising fears the widening conflict will cause further chaos for energy markets. (4) UK Chancellor of the Exchequer Rachel Reeves will urge Group of Seven partners to boost domestic energy supplies and warn the recent surge in oil and gas prices is playing into Vladimir Putin&rsquo;s hands. (5) French authorities detained two new suspects in connection with a foiled bombing near the Bank of America&nbsp; office in Paris, which officials have said is likely linked to the conflict in the Middle East. (6) Once a global hub for entry-level jobs, London is now the epicenter of a growing youth joblessness crisis that is threatening to blight the futures of hundreds of thousands of people and fuel a backlash against Prime Minister Keir Starmer&rsquo;s Labour government in key municipal elections in just over a month. Podcast Conversation: <a href="https://www.bloomberg.com/opinion/articles/2026-03-29/iran-war-trump-is-depleting-a-more-powerful-weapon-than-us-missiles" data-destination="https://www.bloomberg.com/opinion/articles/2026-03-29/iran-war-trump-is-depleting-a-more-powerful-weapon-than-us-missiles">America Is Depleting a Bigger Weapon Than Missiles: Max Hastings</a>

Trump Weighs Kharg Occupation, Oil Surges Past $115, Graduate Job Crisis

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/53ca0967-aff2-442d-8603-b41d005eaa5a/transcript

Special Episode: Reeves Hikes Taxes After Budget Pre-Release Shambles

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