Will Keir Starmer meet his pledge to improve living standards? December 5, 2024 Before the General Election Labour was proudly proclaiming its commitment to generating economic growth. The first ‘mission’ in the party’s manifesto was to secure the highest sustained growth rate in the G7. After Keir Starmer’s speech earlier today, that mission has been downgraded to an ‘aim’. The new pledge, heavily trailed before the speech, is [...]
UK economy to ‘grow twice as fast’ as Europe in 2025 December 5, 2024 The UK economy is set to grow twice as fast as its European counterparts next year thanks to the flurry of spending measures announced in October’s Budget, a top bank has forecast. Britain’s gross domestic product (GDP) will increase by 1.4 per cent next year, analysts at ING said in the bank’s annual economic outlook, [...]
Britain can’t afford to be complacent about growth December 3, 2024 The UK has many long-standings strengths, but it’s time to be honest about the fact that other countries around the world are stealing a march when it comes to growth and innovation, says Brandon Lewis Too often in the UK, we still see ourselves as a great trading nation, built on our history of global [...]
Reeves’ Budget borrowing plans ‘threaten UK stability’ November 1, 2024 UK Chancellor Rachel Reeves’ Autumn Budget plan to rewrite fiscal rules and borrow more could jeopardise the stability of the country’s public finances, warned ratings agency Moody’s on Friday. In its first assessment of the Labour government’s Budget, Moody’s said that Reeves’ approach leaves little flexibility to manage economic shocks without breaching her newly introduced [...]
Autumn Budget 2024: All the key announcements October 30, 2024 After weeks of speculation, Rachel Reeves has delivered her first Budget as Chancellor to the House of Commons. The Budget was the first from a Labour government in 14 years and the first one ever by a female Chancellor. The 77-minute address to MPs featured a wide range of announcements which City AM has summarized [...]
Global trade at risk: Lloyd’s forecasts over $14 trillion economic fallout from conflicts October 9, 2024 Lloyd's of London warns that a potential geopolitical conflict could devastate the global economy, triggering $14.5 tn in losses over the next five years and upending global trade
Has Labour overdone the doom and gloom? September 24, 2024 Many economists and City business groups have argued that this risks damaging growth. After all, why would households spend and businesses invest in a climate of fear?
UK economy: Growth continues but budget concerns ‘jangling nerves’ September 23, 2024 PMIs, which measure business activity in the private sector, are closely watched for clues about the economy’s performance.
Economic inactivity due to sickness could reach 4.3m, report warns September 17, 2024 The UK’s level of economic inactivity due to sickness could reach 4.3m by the end of this parliament, with an “unthinkable human and economic cost”, a health report has warned. A cross-party commission on health and prosperity, led by the Institute for Public Policy Research (IPPR), has published its findings on the future of Britain’s [...]
Luke 1977: UK’s economic woes to hit fashion industry for next three years September 11, 2024 Menswear brand Luke 1977 has warned that the “current economic climate” will continue to impact on the fashion industry for the next two to three years. The Oxfordshire-headquartered business said the fashion industry is also “experiencing challenges relating to climate control”, ranging from the reduction of carbon foot prints to the use of recyclable materials. [...]