Soaring energy bills set to fuel inflation spike Economics Rising energy prices are poised to send UK inflation rearing back up, as economists warn that the summer boost to the economy could be fleeting. The rate of Consumer Prices Index (CPI) inflation is tipped to rise to 2.9 per cent in July, climbing from June’s 15-month low of 2.6 per cent, when the Office [...]
War and tax: How the UK economy could get knocked off course Economics Labour ministers may have some reason to be cheerful about the UK economy’s performance. Torsten Bell, the pensions minister who has long desired top jobs in the Treasury, lambasted “gloomsters” shortly after official data revealed growth in the second quarter of the year was 0.4 per cent. Even Rachel Reeves, who has remained largely silent [...]
UK economy weathers Iran war shocks but slowdown incoming Economics The UK economy grew 0.4 per cent between April and June, official data has revealed, in a sign that businesses and consumers have so far weathered the worst shocks of the war in Iran. The growth figure from the Office for National Statistics was in line with analysts’ expectations but came alongside a surprise boost [...]
Devolution should mean regions competing for investment August 13, 2026 The next phase of devolution should focus less on how funding is distributed and more on how growth is rewarded, says Gus Wiseman For more than 30 years, governments have tried to rebalance England’s economy by directing funding towards regions outside London and the South East. Many of those programmes have delivered worthwhile projects, but [...]
Martin Williams on his favourite Toast the City venues August 12, 2026 Ahead of Toast the City this October, our restaurant columnist on his favourite City spots Bank is almost unrecognisable from when I began my career in the area with Gaucho in 2004. I went on to become MD of the brand before leaving in 2014 to take an entrepreneurial journey, founding M on Threadneedle Street. [...]
Emergency government meeting held over high temperature amid ‘strain on public finances’ August 12, 2026 The government will hold an emergency meeting to discuss the country’s response to this summer’s high temperatures and drought amid fears that it will add a “strain” on the public finances. Prime Minister Andy Burnham will chair the ‘Cobra’ meeting of ministers overseeing health, water, housing and local government, as well as officials from agencies [...]
The European fintech American dream is being called into question August 12, 2026 A double US banking application blow has called into question the fintech dream of landing on Wall Street. In this week’s column, Samuel Norman takes a look at the expansion roadmap for Europe’s top fintechs as well as the latest response to the booming profits in UK banks half-year reports. Denied, denied, withdrawn. That is [...]
Can John Healey deliver Burnham’s make-or-break devolution agenda? August 11, 2026 Devolution is Andy Burnham’s preferred growth lever. Maurício Alencar explores how devolution under Chancellor John Healey could save Britain – or destroy it. In 1998, two of the closest aides of then-chancellor Gordon Brown produced a report into the regional economic divide in Britain. The report, called ‘Towards a new regional policy: Delivering growth and [...]
UK economy to ‘reverse gains’ as construction drags growth August 11, 2026 The UK economy’s modest gains from the first half of the year are set to be reversed as the flagging construction industry is set to hammer growth prospects, economists have said. A poll of economists, tracked by Bloomberg, believe GDP contracted by 0.1 per cent in June, partly unwinding previous gains. Pantheon Macroeconomics analysts said [...]
Top economists shun Burnham over wealth taxes August 10, 2026 Economic heavyweights who were reported to be advising Andy Burnham have opted not to join his government due to disagreements over potential wealth taxes, it has been reported. Lord Jim O’Neill, the former Goldman Sachs executive, is in ongoing talks with Burnham over a potential role, City AM reported last week. Fresh reports have suggested [...]