‘Calm before the storm’: City warns Healey growth spurt won’t last Economics The UK economy’s surprise summer growth spurt is set to be “blown away” by a spike in energy prices and a recent surge in the cost of borrowing, economists have warned the government. Fresh figures revealed on Friday that the economy expanded 0.4 per cent in July, ahead of initial forecasts that predicted flat growth. [...]
JP Morgan boss Jamie Dimon to meet Chancellor John Healey ahead of Budget Banking JP Morgan boss Jamie Dimon is set to meet John Healey today ahead of the new Chancellor’s first Budget, City AM understands. The American banker – regarded as one of the most influential figures in global finance – is due to meet Healey in London for the first time following a phone call exchange last [...]
Lloyds and Natwest flaunt social credentials as fears grow of Burnham tax grab Banking Lloyds and Natwest are flaunting their community credentials and pledging a raft of new social investment initiatives as fears grow that Prime Minister Andy Burnham will launch a punishing tax raid on the sector with the government’s first Budget. The two lenders are among a group of top UK banks looking to prove they can [...]
UK workers suffer bigger tax hikes than any leading economy after Reeves’ raid April 22, 2026 Taxes on wages in the UK rose at a faster pace than any country tracked by the OECD as Chancellor Rachel Reeves’ measures have squeezed people’s incomes. A new report by the OECD – the Organisation for Economic Co-operation and Development – has found that taxes in the UK for single workers jumped higher than [...]
Shoe Zone shares plummet as retailer kicks out at budget tax raids April 22, 2026 Shoe Zone shares plummeted after the retailer hit out at Rachel Reeves’ budgets for stifling consumer confidence, saying the chancellor’s policy and the Iran war will kick it into a loss this year. The firm’s share price slumped by more than 32 per cent on Wednesday’s market open, leaving the stock down more than 48 [...]
UK jobs market ‘facing sustained shocks’ March 9, 2026 The Labour government is facing a rallying cry to ease the cost burden on businesses to avoid derailing a recovery in the jobs market. The latest jobs report from KPMG and the REC, the professional body for recruiters, showed hiring for permanent roles reaching a stabilising point in February with the pace of declines the [...]
Reeves urged to cut bank tax as UK competitiveness lags February 25, 2026 Rachel Reeves is facing renewed calls to cut tax on the banking sector after new bombshell research laid bare the competitive disadvantage UK lenders are battling against. The Chancellor spared banks from a highly-anticipated fresh tax raid in the Autumn Budget but a new report – penned by the Association for Financial Markets (AFME) and [...]
Private sector axes more jobs amid Reeves’ tax and wage pressures February 20, 2026 The UK’s private sectors culled jobs for the seventeenth consecutive month in February led by a significant drop in the services sector as businesses were still digesting the impact of Labour’s 2024 Autumn Budget. The latest flash Purchasing Managers Index (PMI) from S&P Global described the rate of job shedding in February as at a [...]
Services sector rebound expected to help economy limp towards growth February 10, 2026 Rachel Reeves is set to breathe a minor sigh of relief at the sight of new economic data this week with the UK economy expected to have limped towards growth in December. A survey of City economists by Bloomberg had projected a 0.1 per cent expansion in December and 0.2 per cent for the fourth-quarter. [...]
Optimism picking up after ‘disruptive’ Budget, says Paragon chief January 27, 2026 Optimism in the UK is beginning to pick up, the boss of FTSE 250 lender Paragon has said, after sentiment was dampened by rampant tax speculation in the second half of 2025. Nigel Terrington, the boss of Paragon bank, told City AM that despite it being the early days of 2026, the mood was beginning [...]