China could gatecrash Starmer’s diplomatic party May 15, 2025 Keir Starmer has repeatedly said that the UK doesn’t need to choose between strengthening economic and trade ties with the US and deepening them with the EU. A few weeks ago, concern was growing in Whitehall that if the UK didn’t strike a deal with America then the chance of a tariff rapprochement could be [...]
Labour’s National Wealth Fund hounded with calls for clarity May 15, 2025 Labour’s National Wealth Fund (NWF) faced renewed pressure on Wednesday as the Treasury Committee kicked off its inquiry into the new body. The NWF’s ability to boost economic growth across the country was the subject of questions posed by MPs to investment industry leaders. Its status as a “wealth fund” came under fire against comparisons [...]
Starmer: Unemployment jump not caused by my government May 14, 2025 The Prime Minister has denied the 10 per cent rise in unemployment since last year’s election is the fault of his government, arguing that the recently struck trade deals with India and the United States will boost jobs and the UK economy. During a fiery exchange at Prime Minister’s Questions, Keir Starmer accused Kemi Badenoch [...]
Is Rachel Reeves breaking up with the OBR? May 14, 2025 City AM’s City Editor, Simon Hunt, unpicks the stories that get the Square Mile talking Rachel Reeves will do anything to keep the Office for Budget Responsibility (OBR) on side. Or so we thought. The chancellor made a number of last-minute changes to her Spring Statement to ensure her fiscal headroom stayed on target, including [...]
UK jobs markets suffers a fainting fit…will the patient get worse? May 14, 2025 We now know that since the start of the year the number of payrolled employees in the UK has fallen by around 100,000 – adding to the emerging narrative that when it comes to employment, things are going in the wrong direction. Fewer people employed, fewer vacancies and fewer jobs likely to be created. The [...]
‘Cautious welcome’: City bigwigs react to Mansion House Accord May 14, 2025 City analysts and politicians have been probing the ramifications of the Mansion House Accord, a new deal spearheaded by the government that aims to encourage more diverse investments by pension funds. The accord, which was signed by seventeen major pension funds yesterday, is a voluntary commitment to allocate ten per cent of funds to private [...]
Home Secretary defends PM’s immigration speech after backlash May 13, 2025 The Home Secretary has defended the Prime Minister’s choice of language after he received criticism for claiming that the UK risked becoming “an island of strangers” without major reform to the immigration system. Former Shadow Chancellor John McDonnell, who was suspended from Labour after voting against welfare reforms, posted on X: “Talk of an “island [...]
Immigration reforms won’t solve labour shortages, businesses warn May 13, 2025 Government plans to draw back immigration levels and tighten criteria for visas will put efforts to fill labour shortages at risk, with leading industry groups urging Keir Starmer to fast-track apprenticeship reforms. The immigration white paper, which was published on Monday, set out plans to end specific care worker visas, strengthen the skills criteria needed [...]
Employment levels slump as Reeves’ taxes bite May 13, 2025 Employment levels deteriorated in March, official data has suggested, in signs that Chancellor Rachel Reeves’ £20bn tax raid on employers has squeezed firms’ profits. Figures released by the Office for National Statistics (ONS) revealed that the number of payrolled employees fell by 53,000 over the first three months of the year. The early estimate of [...]
Reform UK tops latest City AM poll as Nigel Farage’s approval ratings climb May 13, 2025 Nigel Farage’s approval ratings have climbed since his party’s success in the local elections, while Reform UK has surged ahead of Labour to top the latest Freshwater Strategy/City AM poll of UK voters. Since last month’s survey, Keir Starmer’s net approval rating has seen a modest improvement from -39 to -36 while Tory leader Kemi [...]