Britain passing up £18bn economic boost due to ‘failure’ to build enough homes February 23, 2023 Britain is passing up on a near £18bn economic boost due to the government and businesses’ “failure to build enough new” homes, a former Tory housing minister has claimed today in a new report. Brandon Lewis, ex-housing and planning minister, in a foreword to a report by think tank Policy Exchange said decades of weak [...]
UK inflation will drop back to Bank of England two per cent target by end of this year, economists predict February 22, 2023 Inflation in the UK is on track to fall exactly back to the Bank of England’s target by the end of this year, according to forecasts by two top City of London economists. The rate of price increases will tumble to two per cent in the final three months of 2023, according to Pantheon Macroeconomics. [...]
Cost of living crisis forces Brits to abandon saving, with more than one in five taking on EXTRA debt February 22, 2023 The cost of living crisis is poised to force Brits to shun setting cash aside each month for a rainy day, official figures out today show. More than four in 10 of the population expect to save no money whatsoever over the next year, according to the Office for National Statistics (ONS). Inflation has raced [...]
Glimmers UK will avoid recession this year emerge as experts cheer return to growth in PMI February 21, 2023 Warnings that the UK is headed for a recession may have been misplaced after figures out today revealed private businesses returned to growth for the first time in half a year. S&P Global and the Chartered Institute of Procurement and Supply’s (CIPS) composite flash purchasing managers’ index (PMI) for February hit 53 points, up from [...]
House prices rose just £14 last month as Bank of England rate hikes chill demand February 20, 2023 UK house prices rose by just £14 last month indicating possible buyers are turning their noses up at sellers slapping huge tickets on their homes, new figures out today reveal. The average asking price for a home in the UK came in at £362,452, making last month’s increase the smallest between January and February since [...]
Why is the UK economy poised to tumble into a recession and fall behind Europe, US and even Russia? February 16, 2023 Britain avoided a much-tipped recession at the end of last year. Phew. “However, we are not out of the woods yet,” warned Chancellor Jeremy Hunt after last Friday’s GDP figures from the ONS revealed the economy stagnated at the end of 2022, meaning it narrowly avoided the technical recession definition of two consecutive quarters of [...]
UK inflation drops for third straight month in sign Bank of England is nearing end of interest rate hikes February 15, 2023 Inflation in the UK is falling faster than experts expected which may convince the Bank of England to consider ending its aggressive campaign to tame prices with interest rate rises, official figures out today reveal. The rate of price increases in Britain dropped to 10.1 per cent last month, down from 10.5 per cent in [...]
The £200bn Covid savings war chest that could prevent a UK recession February 14, 2023 There’s a war chest of nearly £200bn – which started to be built up during the pandemic and has grown ever since – that could save the UK from recession. This may come as a surprise when all we hear from Westminster is how skint we are, but the stash of cash isn’t made up [...]
Ireland to keep European economy out of a recession as Britain gets left behind February 13, 2023 Europe is poised to swerve a recession this year in a massive U-turn from warnings of blackouts sweeping across the bloc, with GDP powered by Ireland, new forecasts out today claim. Growth in the European Union (EU) will hit 0.8 per cent this year, an upgrade from the just 0.3 per cent forecast last autumn, [...]
Britcoin needs to prove it can secure adoption and not spy on our consumers, experts warn February 13, 2023 The digital pound faces a range of challenges before it could be adopted in the UK, experts told City AM, as industry figures continue to grapple with the announcement that a central bank digital currency (CBDC) is “likely to be needed” in the future. The risks a so-called Britcoin poses to financial stability and the [...]