One in ten Brits have no cash savings, City regulator says May 16, 2025 One in ten Brits do not have any cash savings, the City regulator has warned, concerning signs that hundreds of thousands of people could be unable to cover emergency bills. New research by the Financial Conduct Authority (FCA) has also suggested that a fifth of people have less than £1,000 available to draw on The [...]
Starmer’s immigration plans dealt surprise blow by Albania May 15, 2025 Keir Starmer’s plans to “take back control” of immigration rules in the UK were dealt a fresh blow after Albania’s prime minister ruled out hosting failed asylum seekers, a proposal widely seen as acting as a deterrent to illegal migration. In a visit to the capital city Tirana, Starmer was told by Albania’s Edi Rama [...]
City veteran Lord Rose ‘horrified’ by slow growth under Labour May 15, 2025 Former M&S boss and current Asda co-chief executive Stuart Rose has hit out at Labour’s lack of strategy aimed at boosting the economy, claiming he has been “horrified” by the UK’s lacklustre performance despite Chancellor Reeves’ pledges to deliver growth at a “faster” pace. Reeves said her £40bn tax raid at last year’s autumn budget [...]
Week in Business: Small glass of champagne for Reeves? May 15, 2025 There was some welcome economic growth in Q1 but it's in the rear view mirror; is there any on the horizon?
Interest rate cuts would ‘boost growth’, businesses tell Bank of England May 15, 2025 Further interest rate cuts by the Bank of England would get consumers to spend more and boost the economy in the coming months, business leaders have said after UK GDP grew by 0.7 per cent in the first three months of the year. Economists at the Confederation of British Industry (CBI) and the Institute of [...]
Investor visa floated to reverse exodus of millionaires May 15, 2025 Keir Starmer’s government is reportedly looking to introduce a special visa for foreign investors in an attempt to reverse the tide of millionaires leaving the UK. Officials are at the early stages of drawing up a visa which would provide an olive branch to wealthy businessmen keen to fund in areas such as artificial intelligence [...]
Boost for Rachel Reeves as UK economy booms in first quarter May 15, 2025 The UK economy surged by 0.7 per cent in the first three months of the year, official data has shown, suggesting firms boosted production ahead of Rachel Reeves’s tax rises in April and the threat of President Donald Trump’s tariffs. Fresh data provided by the Office for National Statistics showed that the UK economy grew [...]
‘Investment magnet’ financial services injected £281bn in UK economy May 15, 2025 Financial services injected £281bn into the UK economy and accounted for around 2.5m jobs, according to a new industry-led report. The sector, which is an essential component of business in the Square Mile and manages trillions of pounds in assets, has had to steer through several rocky years of Brexit negotiations, a pandemic and tariff [...]
Labour’s National Wealth Fund hounded with calls for clarity May 15, 2025 Labour’s National Wealth Fund (NWF) faced renewed pressure on Wednesday as the Treasury Committee kicked off its inquiry into the new body. The NWF’s ability to boost economic growth across the country was the subject of questions posed by MPs to investment industry leaders. Its status as a “wealth fund” came under fire against comparisons [...]
UK dismisses Chinese concerns on trade May 14, 2025 The UK government has rejected Chinese criticism of its newly-inked US trade deal, in an effort to allay worries that ties between the world’s second largest economy and Britain would deteriorate. Labour have said that China’s economy was not being intentionally “undermined” in the deal, which saw tariffs on steel fall to zero per cent [...]