Cutting VAT won’t fix Britain’s energy bills Opinion Andy Burnham’s answer to rising energy costs has been a VAT cut on domestic energy bills. But all this does is move money from one pocket to another, with the taxpayer covering the difference, says Alan Chang Britain is facing an energy emergency. January bills are expected to climb by £276 for the typical UK [...]
UK house prices fall at fastest rate since May as mortgage rates weigh on demand Property UK house prices fell at their fastest pace since May as expensive mortgages and uncertainty ahead of the Autumn Budget fuelled caution among buyers. Prices fell 0.2 per cent during September, faster than economists had expected and reversing August’s 0.2 per cent increase, according to data from Nationwide. The average UK home was valued at [...]
Burnham’s North Sea ‘pragmatism’ vow leaves energy industry hopeful Energy Andy Burnham promised to be “pragmatic” about drilling in the North Sea in his conference speech. Those in Aberdeen say there’s not a moment to lose. Bedecked in her obligatory high-vis jacket and surrounded by hardhard-wearing oil and gas workers, Miatta Fanbulleh’s first ministerial trip was a striking piece of political symbolism. Just three days [...]
Burnham grid shake-up offers data centres escape from power queue September 30, 2026 Britain’s data centre developers could be handed a new route around years-long waits for electricity under Andy Burnham’s plan to open up the power grid to competition. The prime minister unveiled Great British Grid (GB Grid) on Tuesday, a publicly owned arm of Great British Energy that will aim to challenge existing network operators and [...]
Burnham to announce new publicly-owned grid operator September 29, 2026 Andy Burnham is expected to announce a new publicly-owned body which will invest in the UK’s electricity grid in an attempt to bring down Britain’s sky-high energy costs. The Prime Minister is tipped to unveil Great British Grid, which will speed up connections to the grid by driving up competition for projects, during his Labour [...]
As it happened: FTSE 100 and bonds jitter; Burnham says Britain must be ‘honest’ about public finances September 29, 2026 Welcome back to the City AM liveblog. Stick with us throughout the day for the latest London Stock Exchange and wider business and economic news, as soon as we get it. Here’s a look at some of our top headlines: The liveblog has ended.No liveblog updates yet. Load more
Budget tax hikes would be ‘road to ruin,’ Healey warned September 6, 2026 A top business trade body has warned Chancellor John Healey that tax hikes at the October Budget would set the UK on the “road to ruin”. The British Chambers of Commerce (BCC) has urged the Chancellor not to “pile more taxes on firms,” saying that the Treasury should instead cut the costs facing firms to [...]
Bank of England’s Pill warns against ‘wait and see’ interest rates approach September 3, 2026 The Bank of England’s chief economist has warned that a “wait and see approach” to setting interest rates amid the ongoing Iran war could unleash a fresh wave of inflation that the central bank will find hard to contain if left unchecked. Huw Pill, who has long been one of the most hawkish rate-setters on [...]
Oil price climbs above $90 as Iran says US diplomacy ‘isn’t possible’ August 31, 2026 The price of oil is creeping higher after the US launched strikes at Iranian rocket launchers that were reportedly preparing to lay mines in the Strait of Hormuz. Brent crude – the international benchmark for oil prices – climbed towards $91 per barrel after strikes from the US marked the first exchange of fire in [...]
As it happened: FTSE 100 jumps as oil falls back; Warsh says ‘work to do’ on inflation August 28, 2026 Welcome back to the City AM FTSE 100 liveblog. The UK’s blue-chip index extended gains on Friday after some pressures in the oil market eased off. Oil prices reared back up on Thursday night, reversing days of losses earlier in the week. The price of Brent crude – the international benchmark for oil – jumped [...]