Spring Statement Live: UK growth cut for 2026 but Reeves touts future forecasts March 3, 2026 Welcome back to the City AM liveblog. Rachel Reeves delivered her Spring Statement today, as the Office for Budget Responsibility published its updated forecasts for the years ahead. The Chancellor was handed quite a hefty blow with the UK’s growth estimate for 2026 slashed to 1.1 per cent from 1.4 per cent the year prior. [...]
Reeves delivers Spring Statement as war rages and markets tremble March 3, 2026 Spare a thought for Rachel Reeves. She had hoped to make a Spring Statement that nobody noticed and yet today she has to deliver it as war rages in the Middle East, triggering warnings of energy price shocks, instability and inflation. There is a very real prospect that the economic forecasts to which the Chancellor [...]
Greens close gap with Labour in polls after historic by-election win March 3, 2026 The Greens are now biting at the heels of the Labour Party in national polling after its candidate Hannah Spencer stormed to a historic by-election win in Gorton and Denton last week. The latest City AM/Freshwater Strategy poll puts the Greens on 15 per cent, with Labour ahead of them by three points, a smaller [...]
Reeves to deliver ‘stability’ Spring Statement amid turmoil in Iran March 3, 2026 Chancellor Rachel Reeves is set to deliver a Spring Statement trumpeting the UK’s economic stability against the backdrop of a war in the Middle East, with official forecasts expected to touch on lower growth, falling inflation and higher unemployment over the coming months. In an address to the House of Commons around 12.30pm today, Reeves [...]
Trump and Starmer in row over use of UK military bases March 2, 2026 President Trump has said he is “very disappointed” in Sir Keir Starmer after the UK initially refused to allow the US to use military bases to organise attacks on Iran over the weekend. Trump has said the Prime Minister “took far too long” to change his mind in allowing military bases to be used after [...]
Badenoch: Starmer’s refusal to back US strikes a ‘pure political calculation’ March 2, 2026 Tory leader Kemi Badenoch has accused Sir Keir Starmer of initially refusing to allow the US to use its military bases for strikes on Iran for “political” reasons rather than legal ones. In a speech at Policy Exchange, the centre-right think tank, Badenoch said the UK’s response to the conflict in the Middle East had [...]
Lawyers raise red flags over Labour’s non-compete shake-up March 2, 2026 The future of non-compete clauses in the UK is at a crossroads, with the government considering major reforms, but lawyers warn that this could lead to unintended consequences for both businesses and workers. Non-compete clauses in the UK restrict employees from joining competitors post-employment, but are enforceable only if reasonable in scope, duration, and geography to [...]
‘Attention, please’: Rachel Reeves hails rail fare freeze over Liverpool Street tannoy March 2, 2026 Commuters arriving into Liverpool Street station have been serenaded by the Chancellor’s voice today. Rachel Reeves has taken over the key City transport artery to share the news of a freeze to rail fares – the first in 30 years. In a message read out over the tannoy periodically throughout Monday, Reeves opens with: “Testing, [...]
Oil prices spike as UK base hit by Iranian missile March 2, 2026 Oil prices spiked this morning as tensions continued to escalate in the Middle East, raising concerns that a key shipping route could be halted and an Iranian missile attack on an RAF base could drag the UK into a regional war. The cost of a barrel of brent crude – the international benchmark for oil [...]
Business confidence slumps ahead of Spring Statement March 2, 2026 Business confidence slumped back in February as directors’ frustration with the state of the UK economy grew, new research has shown. The Institute of Directors’ latest business confidence survey has uncovered bosses’ exasperation with the UK economy and the level of employment taxes preventing them from taking on more workers. The IoD said its economic [...]