Spending cuts risk ‘doom loop’, ex-Bank of England economist warns January 22, 2025 Andy Haldane warned cutting government spending would be harmful for the UK’s longer term fiscal position, because it would weigh on growth. The Chancellor will receive fresh economic forecasts from the Office for Budget Responsibility (OBR) in March which will take into account sluggish growth since the Budget and higher government borrowing costs. These forecasts [...]
Further tax rises ‘a good bet’ after Chancellor’s borrowing blow January 22, 2025 Borrowing in the month of December was at its third highest level since monthly records began back in 1997, excluding only the pandemic and 2009.
Quilter share price rises amid cash inflow spike January 22, 2025 Quilter saw a sharp increase in the amount of cash flowing into its coffers over the last year, as the wealth manager reported its assets under management shot up to £119.4bn. In a trading update, the FTSE 250 firm reported £1.8bn in new business over the last quarter, bringing its take-in for 2024 as a [...]
UK economy: Borrowing overshoots expectations as interest bill spikes January 22, 2025 The figures come shortly after a bout of instability in the gilt market.
UK economy: Compulsory liquidations hit 10-year high January 21, 2025 Figures released from the Insolvency Service showed that there were 3,320 compulsory liquidations in 2024, the highest number for 10 years.
UK economy: Has the Budget broken the jobs market? January 21, 2025 Unemployment rose to 4.4 per cent in the three months to November, up from 4.3 per cent previously and the highest since last May.
‘Reason for cautious optimism’: UK consumer confidence rebound on cards January 20, 2025 Consumer confidence is set for a pick-up this year as the economy starts to improve and the UK adjusts to higher costs, according to a new survey. While the end of last year was gloomy for both businesses and consumers, analysts at Deloitte have said there is “reason for cautious optimism” going into the summer. [...]
Starmer’s value for money office might be a waste of money, MPs warn January 20, 2025 Keir Starmer’s new value for money office might be a waste of money, an influential group of MPs have warned in a sceptical report. The newly-established Office for Value for Money (OVfM), which Labour pledged to set up ahead of the election, is supposed to improve government competitiveness and crackdown on waste. But concerns have [...]
Next: Lord Wolfson warns Budget will make it ‘harder’ to enter workforce January 17, 2025 The boss of retail giant Next has warned that tax rises announced in the Budget will make it “harder and harder for people to enter the workforce”. Lord Wolfson told the BBC that the government’s move to hike national insurance (NI) would disproportionately hit entry-level jobs. “The axe has fallen particularly hard on those entry-level, [...]
UK economy: Interest rate cut a ‘certainty’ in February after weak data January 16, 2025 Economists expect the Bank of England to back a third rate cut next month after two important pieces of economic data were published this week.