UK economy grows faster than expected in June August 14, 2025 The UK economy grew 0.4 per cent in June, official data has shown, in an unexpected turnaround following months of tariff and tax uncertainty. In the second quarter, GDP rose by 0.3 per cent after declining in both April and May. The Office for National Statistics (ONS) said the UK services sector, which makes up [...]
Why business confidence is all over the place August 12, 2025 Kemi Badenoch looked aghast but Keir Starmer was defiant. Business confidence was at a nine-year high, the prime minister declared in the House of Commons in mid-July. The Conservative Party leader was not having any of it. Neither were many economists and analysts watching from the City. What Starmer claimed was not false, per se. Research [...]
Wage growth hits five per cent as more jobs shed August 12, 2025 Wage growth hit five per cent June as more jobs were shed due to higher labour costs introduced by Chancellor Rachel Reeves, official data has revealed. Pay growth excluding bonuses in the three months to June was the same as the month before, according to the Office for National Statistics (ONS), in a caution to [...]
Bank of England interest rate cut offers modest boost for UK SMEs August 11, 2025 The Bank of England’s recent decision to reduce its base interest rate from 4.25 per cent to four per cent marks the first time borrowing costs have fallen to this level since March 2023, offering a modest reprieve for UK small and medium-sized enterprises (SMEs) after two years of elevated rates. According to new analysis [...]
UK economy expected to rebound August 11, 2025 The UK economy is expected to have returned to growth in June after two consecutive months of declines amid concerns about the impact President Donald Trump’s tariffs have had on the economy. Economists polled by Bloomberg expect the Office for National Statistics (ONS) to post UK growth of 0.2 per cent for June when the [...]
Bank of England cuts interest rates in historic vote August 7, 2025 The Bank of England has cut interest rates to four per cent in an unprecedented double vote as Monetary Policy Committee members clashed on the impacts of a crumbling jobs market and higher food prices. Monetary Policy Committee (MPC) members were told to vote a second time after four members voting for a 25 basis [...]
Revolut drafts in EY amid banking licence push August 7, 2025 Revolut has tapped accountancy giant EY to replace BDO as its auditor as the firm pushes to secure its UK banking licence. The UK fintech juggernaut said EY will act as the firm’s auditor for the financial year ending December 2026 after a formal bidding process. This comes as Revolut expects to launch as a [...]
House builder blames ‘broken planning system’ and interest rates for loss August 7, 2025 In independent house builder has blamed the “broken planning system” and high interest rates putting off first time buyers for it falling into the red. Cheshire-based Eccleston Homes has reported a pre-tax loss of £1.2m for the 12 months to 31 October, 2024, down from the £2m profit it achieved in the prior year. New [...]
House prices rise ahead of key Bank of England rate decision August 7, 2025 House prices rose at their fastest pace since the start of the year in July, as buyers shake off concerns about higher property taxes and push ahead with purchases. Prices rose 0.4 per cent in June, according to the latest index from Halifax, with the average property price now £298,237 compared to £297,157 last month. [...]
LIVE: Bank of England cuts interest rates to four per cent August 7, 2025 The Bank of England has slashed interest rates to the lowest level in more than two years at four per cent. The decision to cut rates from 4.25 per cent comes after members were told to vote for a second time after facing a split decision. It follows the Bank’s chief economist, Huw Pill, telling [...]