IMF tells Reeves to drop triple lock pension and make ‘fundamental’ tax reform May 18, 2026 The UN’s global financial fund has called on Chancellor Rachel Reeves to drop the triple lock pension and draw up “contingency” tax measures to ensure that public debt is reduced as a share of GDP. The International Monetary Fund has said that there are “risks” around spending forecasts and tax receipts, criticising the Chancellor for [...]
From pensions to healthcare: UK state spending on old age surges May 18, 2026 Government spending on the elderly has dramatically increased the size of the state, analysis by the official statistics body has shown. Fresh research by the Office for National Statistics has suggested a steady rise in spending on health and old age has contributed to a rise in government consumption as a share of GDP. In [...]
Labour’s leadership Phoney War continues, this time as farce May 18, 2026 Labour is conducting Schrodinger’s leadership election and it’s increasingly looking like I, Claudius performed b y the cast of Up Pompeii, says Eliot Wilson Following Labour’s punishment beatings in the local and devolved parliamentary elections, the guerrilla war over Sir Keir Starmer’s leadership of the party has finally erupted into open warfare. Or has it? [...]
The story of Keir Starmer’s failure is boringly familiar May 18, 2026 Keir Starmer’s fate was not brought about chiefly by his lack of personality. It was the predictable result of the economic conditions that have wracked Britain for almost two decades, a political system poorly attuned to fixing them, and more than a little of his own hubris, says Andrew Griffith Analysing why Keir Starmer failed [...]
UK property taxes are highest in world – and they’re rising May 18, 2026 The UK has the highest level of property taxes of any major economy in the world as a share of the economy, according to new analysis, with new business reforms only set to add to the load. The global tax firm Ryan said the UK suffered a heavier property tax burden than the likes of [...]
Burnham return attempt ushers new borrowing cost record May 15, 2026 Manchester mayor Andy Burnham’s attempt to return to parliament has alarmed traders as gilt yields reached another 28-year high, beating last week’s high. Burnham overcame the first hurdle on his path towards becoming Prime Minister after Josh Simons, the MP for Makerfield, announced he would resign on Thursday night to let the Manchester mayor try [...]
What does new City minister Rachel Blake have in store for the Square Mile? May 15, 2026 The Westminster drama has hit the City in more ways than one. After Wes Streeting’s resignation triggered a mini-reshuffle, Felix Armstrong and Samuel Norman take a look at what the new City minister might have in store. In just under two years, the City has its fourth minister. Tulip Siddiq resigned in January 2025 after [...]
As it happened: UK borrowing costs rattled by Burnham’s Parliament bid May 15, 2026 Welcome back to the City AM liveblog. Andy Burnham has made his move – and it has left markets on edge. On Thursday evening, after markets had closed, a Labour MP sensationally announced their intention to stand aside to allow Burnham to make his way back into Parliament. And this morning it’s left gilt yields [...]
As it happened: Markets on high alert as Streeting calls on Starmer to resign May 14, 2026 Welcome back to the City AM liveblog. The past few days of political drama have to come to a head today and UK assets are bracing for a showdown. All eyes were on the bond market after Wes Streeting resigned as health secretary and called for a leadership contest. Gilt yields see-sawed yesterday as Sir [...]
Andy Burnham confirms Westminster run as Wes Streeting resigns from government May 14, 2026 Andy Burnham has declared his intention to stand in a by-election after a sitting Labour MP quit to make way for him. The current Mayor of Manchester will seek permission from Labour’s ruling body to stand in the Makerfield constituency after Josh Simons announced he would vacate the seat. In a statement, Burnham said: “Millions [...]