Sir Keir Starmer has rejected Sir James Dyson’s condemnation of Labour’s first Budget as “spiteful” and being the “death of entrepreneurship”. Downing Street defended the tax, borrow and spending blueprint unveiled by Chancellor Rachel Reeves last week as a “balanced approach”.

One of the UK's wealthiest people, James Dyson, has called Labour's budget "spiteful". Meanwhile, this week's Money Problem relates to a dodgy haircut. Read these and the rest of today's personal finance and consumer news below.

In an opinion piece for The Times newspaper, the tycoon said that the new Labour government’s fiscal plans are “spiteful” and will cause small businesses to suffer. Mr Dyson is the Britain’s wealthiest resident, with a fortune of US$21 billion (S$27.9 billion), according to the Bloomberg Billionaires Index.

Dyson billionaire and inventor Sir James Dyson warns Labour Chancellor Rachel Reeves' 'spiteful' Budget will be the 'death of entrepreneurship'

Cabinet minister Yvette Cooper slapped down Sir James Dyson ’s condemnation of Labour’s first Budget as “spiteful” and being the “death of entrepreneurship”. The Home Secretary insisted that the new Government was seeking to support economic growth in Britain and “opportunities for everyone in the future”.

The UK's wealthiest resident, James Dyson, has called Labour's budget "spiteful". Meanwhile, this week's Money Problem relates to a dodgy haircut. Read these and the rest of today's personal finance and consumer news below.

The hoover entrepreneur, who is one of Britain's leading businessmen, made the accusations in The Times after Labour announced last week that it was raising taxes on multimillion-pound estates.