Bank of England could raise interest rates over Iran energy price shock March 4, 2026 The Bank of England could raise interest rates this year if energy prices fail to return to levels seen before the start of America’s war with Iran, leading economists have warned. Analysts across the City and at Westminster think tanks have suggested that higher inflation caused by disruption in oil and gas movements across the [...]
Labour urged to give HENRYs a hand to boost investment March 4, 2026 The sheer tax cliff-edge facing workers earning £100,000 or more is harming the UK’s ambitions to foster greater retail investment, according to IG. New research from the online investment platform found that HENRYs, an acronym which stands for High Earner, Not Rich Yet, are unable to invest as much as they would like due to [...]
US warns 15 per cent tariffs to come this week March 4, 2026 US treasury secretary Scott Bessent has warned that the administration’s plans for a higher universal 15 per cent tariff could come into effect this week. Bessent said the new baseline tariff rate would come in “likely some time this week” in an interview on Wednesday. The US implemented its 10 per cent tariff rate last [...]
Starmer refuses to reveal date of defence investment plan March 4, 2026 Sir Keir Starmer hit back at criticism the UK government was not spending enough on defence amid an escalating conflict in the Middle East putting RAF jets and British nationals at risk. The Prime Minister declined to reveal when the much-anticipated defence investment plan would be published as Kemi Badenoch centred her attacks on the [...]
Services sector cuts jobs and hikes prices after Reeves’ tax raid March 4, 2026 The UK’s services sector has turned to hiking prices and shedding workers in an effort to balance the books in the face of rising cost pressures from government policy. Businesses activity picked up for the tenth-consecutive month in February, according to the latest Purchasing Manager’s Index (PMI) from S&P, but came amid a “solid” amount [...]
Living standards to be ‘far bleaker’ after 2026 despite Reeves’ claims March 4, 2026 UK living standards are projected to drop in the two years before the next General Election as economists warned people were heading for “far bleaker” times ahead, turning up the heat on Chancellor Rachel Reeves to deliver on a commitment to ease the cost of living. Economists at the Resolution Foundation, the left-leaning Westminster think [...]
Spring Statement: Rachel Reeves ‘in denial’ as growth slumps March 4, 2026 Rachel Reeves has been accused of being “in denial” as she insisted that her economic plan was working even as growth forecasts were slashed and unemployment was predicted to surpass pandemic-era highs. Responding to yesterday’s Spring Statement, shadow chancellor Mel Stride said Labour’s economic agenda, which has raised the tax burden to a post-war high, [...]
FTSE 100 Live: Stocks inch back up; UK faces energy bills warning March 4, 2026 Good morning and welcome back to the City AM liveblog. Yesterday, Rachel Reeves delivered her Spring Statement. The Chancellor wheeled out new forecasts from the Office for Budget Responsibility that cut growth for 2026 but – albeit modestly – upgraded it for the years to come. But forecasts were quickly labelled out of date by [...]
Reeves’ Spring Statement gave us little to be cheery about March 4, 2026 Rachel Reeves put on a brave face when she stood up at the dispatch box yesterday afternoon to unveil her Spring Statement. And although we were subjected to the usual staccato delivery, the Chancellor’s performance was more confident than usual. But a cursory glance at the latest Office for Budget Responsibility (OBR) projections show there [...]
Voters say Starmer should resign over Mandelson affair March 4, 2026 Sir Keir Starmer should resign over his handling of the Peter Mandelson scandal as his apology failed to deal with allegations of sleaze within the Labour Party, the majority of voters believe. The latest City AM/Freshwater Strategy poll of UK voters has found that over half of Brits (59 per cent) believe Starmer should have [...]