UK government borrowing overshoots expectations in November Economics UK government borrowing exceeded expectations in November but still fell year-on-year after tax receipts surged following Rachel Reeves’ first Autumn Budget. The latest release from the Office for National Statistics (ONS) showed public sector borrowing topped £11.7bn in November. City economists expected government borrowing to come in at £10.2bn over the month. Despite this, the [...]
City readies up for Labour’s borrowing spree Economics Fixed income investors are readying for the Debt Management Office (DMO) to boost its gilt issuance for the current financial year, otherwise the level of UK government debt sold to traders, as the Labour government ploughs ahead with its borrowing spree. The DMO, an independent government body that oversees the sale of UK government bonds, [...]
Rishi Sunak: Tax rises at Autumn budget would crush confidence Politics Former Prime Minister Rishi Sunak has warned Chancellor Rachel Reeves that she must cut spending at the next budget or risk economic disaster. Writing in his inaugural column for the Sunday Times, Sunak said that Reeves faces a “simple choice: spending cuts or tax rises.” “If the chancellor opts for the latter, it will crush [...]
Why cutting spending is now the only way to revive the economy October 16, 2025 With Brits stashing away cash in fear of further tax hikes under Labour, cutting spending is now the only way forward to grow the UK economy.
Goldman warns Japan fiscal plans could spark UK bond sell-off October 7, 2025 The fiscal plans touted by the woman poised to become Japan’s first female Prime Minister will trigger a sharp jump the country’s borrowing costs that could spill over into the price of UK and US government bonds, Goldman Sachs has said. Sanae Takaichi, an admirer of Margaret Thatcher, was swept to victory in her Liberal [...]
Mortgage approvals rise for third month in a row September 1, 2025 Mortgage approvals for house purchases edged up in July, the third month in a row that has seen a rise, official data has shown. Money and credit statistics published by the Bank of England showed the housing market remains intact despite fears it might slump ahead of the Autumn Budget. The rise in approvals came [...]
Rachel Reeves oversees higher government borrowing than expected July 22, 2025 Government borrowing has overshot predictions, putting Rachel Reeves under more pressure to take control of public finances. The Office for National Statistics (ONS) said public sector borrowing hit £20.7bn in June, higher than market expectations which pencilled in just over £17bn in borrowing. Borrowing in June this year was some £6bn more than at the [...]
Rachel Reeves warned cash ISA reforms will hike mortgage costs July 7, 2025 Rachel Reeves’ plans to cut the cash ISA limit have been blasted by the bosses of Britain’s top building societies over fears they will hike borrowing costs. The Chancellor has been warned her proposals to slash savers’ annual cash ISA allowance from the existing tax-free threshold will drive up costs for homeowners and businesses. Concerns [...]
FCA reviewing bank risk appetite to boost home ownership June 24, 2025 The Financial Conduct Authority has said it will review lenders’ risk-taking in its bid to boost home ownership. The City watchdog said it was seeking a “public conversation” on the “future of the mortgage market” as it looks to support economic growth through an overhaul on mortgage rules. An update to “responding lending rules” was [...]
Government borrowing surges in May to fund Labour’s spending June 20, 2025 Government borrowing in May surged to £17.7bn, official data has shown, reflecting the government’s need for cash to fund Labour’s spending splurge. This represented the second-highest May borrowing figure since records began more than 30 years ago and higher than the Office for Budget Responsibility (OBR) forecast. Fresh data published by the Office for National [...]