‘Be more Trumpian’ – Mandelson discussed dire economy and ‘lack of verve’ with key Starmer ally June 1, 2026 One of Keir Starmer’s closest allies hit out at Downing Street’s thinking on economic policy as he complained about the government’s push to tax people to pay for more benefits, the latest Mandelson files have revealed. Pat McFadden told Peter Mandelson in May last year that meetings he attended centred on questions about hiking taxes [...]
Sadiq Khan: London tech boom can weather ‘dizzying’ AI risks June 1, 2026 Sadiq Khan has insisted London is “busy writing” the future of AI despite the “dizzying” risks posed by the technology, as fresh figures show the capital has reclaimed its position as Europe’s leading tech hub. The Mayor of London said AI presents both “impacts and opportunities”, but argued the capital was well placed to benefit [...]
Labour voters lead AI adoption as public remains split on impact June 1, 2026 Labour supporters are more likely to use AI tools such as ChatGPT and Claude than voters of any other major political party, new polling has found. The latest City AM/Freshwater Strategy poll of UK voters found Labour backers are the heaviest users of AI assistants, while two-thirds (66 per cent) of voters overall have used [...]
Brits back Blair’s growth calls – yet are squeamish over welfare cuts June 1, 2026 Most Britons back Tony Blair’s demands to prioritise cheaper energy over net zero and support the private sector to boost growth, yet are squeamish over slashing disability payments and reforming the triple lock pension, polling has shown. Following up on Tony Blair’s rallying call for potential Labour leadership contenders to focus on growth, City AM/Freshwater [...]
Labour sheds union member support to Reform, poll shows June 1, 2026 Trade union members are split between supporting Labour and Reform UK, a poll has found, reflecting the breakdown of Britain’s traditional voting patterns. A poll by JL Partners has suggested that support for the two parties from union members is tied at 28 per cent, with Labour dropping 20 percentage points in support since the [...]
Reeves’ savings package to have minimal impact on inflation rise May 29, 2026 A discount campaign launched by Chancellor Rachel Reeves will “shave off” an expected rise in inflation, analysis has suggested, as economists have raised concern over Britons’ inflation expectations. Reeves’ move to delay a hike in fuel duty beyond September and offer VAT relief for businesses giving families reduced prices could strip 0.2 percentage points off [...]
Burnham hits back at Blair with more state control for ‘good growth’ May 29, 2026 Andy Burnham has called for stronger state intervention in the economy to deliver what he calls “good growth,” lashing back at Tony Blair’s blueprint for Labour’s future direction. The Greater Manchester mayor conceded areas of agreement with the three-time election winner — notably on the importance of economic growth— but accused Blair of a “gaping [...]
Top banks urge Rachel Reeves to expand small business lending scheme May 29, 2026 Top UK banks are lobbying Rachel Reeves to beef up the government’s small business lending scheme in a bid to unlock more capital to be lent to firms. A letter penned by UK Finance – the banking industry body that represents the likes of Barclays, Lloyds and Natwest – has called for the Chancellor to [...]
Treasury still has £5bn to spend on Covid-19 – taking total bill to £385bn May 28, 2026 The Treasury has said it still needs to spend £5bn more on Covid-19 measures more than four years after the last lockdown restriction was lifted, taking the total estimated costs to taxpayers to £385bn. In a cost tracker update on Thursday, the government said it had already spent £380bn on Covid-19 support since the pandemic [...]
As it happened: Stocks plummet on latest Iran war tensions; Neets crisis a ‘human tragedy’ May 28, 2026 Good morning and welcome back to the City AM liveblog. The US and Iran are back to exchanging fire in a major blow to hopes of peace in the Middle East. Tehran struck an American airbase overnight in its retaliation for the US striking a military site that it said “posed a threat to US forces [...]