Burnham and Trump strike UK-US defence AI deal September 22, 2026 Britain will link its military AI taskforce with its US counterpart under a new defence pact, deepening transatlantic tech ties as AI plays a growing role on the battlefield. The UK’s Defence Rapid AI Delivery Taskforce will work with the US Department of War’s Chief Digital and Artificial Intelligence Office to accelerate the deployment of [...]
‘Worryingly large’: Labour’s debt cost racks up to £200bn September 22, 2026 More than £200bn has now been spent on covering government debt since Labour came into power, official figures show, reflecting the pressure bond traders have put on public finances in the last two years. Analysis of public finances data by City AM shows that debt interest payable to the government’s lenders in bond markets since [...]
‘Dismal’: Blow to Healey as government borrowing overshoots by billions September 22, 2026 Chancellor John Healey has missed key targets on government borrowing ahead of his inaugural Budget after the UK borrowed more than economists forecast in August. The Office for National Statistics (ONS) said borrowing in August was £18.3bn, which was about £3.5bn above a prediction by the Office for Budget Responsibility and overshot market predictions. The [...]
Will our fiscal psychodrama never end? September 22, 2026 I’m sure it wasn’t always like this. There was a time, really not that long ago in the grand scheme of things, when trying to predict the contents of an upcoming Budget was limited to dedicated policy wonks and Westminster’s most dogged journalists. These days, fiscal speculation is a major occupation for several months of [...]
Finance chiefs lobby Healey to protect City from fresh tax grab September 22, 2026 City chiefs have warned against a tax grab on financial services and called on ministers to simplify Britain’s “byzantine” tax system, as fears mount that the Chancellor will use his maiden budget next month to launch another raid on the private sector. The Square Mile’s top industry body, TheCityUK, which counts the UK’s biggest banks [...]
Davey calls for AI ‘pause’ as Burnham inks US-UK tech deal September 21, 2026 Liberal Democrats leader Sir Ed Davey has called for the government to spearhead a treaty that would “press pause on super-intelligent AI” just as Andy Burnham unveiled a deal with President Trump to advance engagement on the technology. Davey is set to tell party members on Tuesday that the UK could be home to an [...]
Burnham to meet Trump amid Iran war’s inflation spike September 21, 2026 Andy Burnham is set to meet President Donald Trump face-to-face for the first time against the backdrop of the Iran war pushing inflation up to above four per cent within months. On his trip to the United Nations General Assembly in New York, Burnham will meet Trump and several other world leaders. Burnham’s meeting with [...]
The return of VAT-free shopping will boost Britain’s towns and cities September 21, 2026 Britain has so much to offer. It is no surprise that more than forty million overseas visitors choose to visit our country every year. Walk down Bond Street in London or Princes Street in Edinburgh and you will see visitors from around the world drawn to some of our most iconic retailers. Our high streets [...]
Tories consult senior barrister over ‘outrageous’ Wandsworth tax hike September 18, 2026 Kemi Badenoch has said the Conservative party has consulted a senior barrister to challenge the government over local funding cuts, following the recent controversy over looming tax hikes at Wandsworth Council. Wandsworth Council, which is Tory-run, has recently announced that taxes will rise by 94 per cent for ‘band D’ residents, resulting in taxpayers having [...]
As it happened: Stocks slip as London’s rally loses momentum September 18, 2026 Welcome back to City AM‘s FTSE 100 liveblog. Stocks in London fell this morning as a three-day rally faded and erased much of the gains made following the Bank of England’s decision to hold interest rates yesterday. The FTSE 100 was trading down nearly one per cent at 12:50pm, dragged lower by falls for Shell [...]