Why Rachel Reeves’ low-key Spring Statement still matters February 26, 2026 This is the Spring Statement that Chancellor Rachel Reeves has long been waiting for in opposition: a moment of sheer insignificance. In May 2023, six months after the mini-budget debacle, Reeves offered a speech in opposition to Washington DC’s top independent think tank, the Peterson Institute, exalting her core economics philosophy of ‘securonomics’. She summarised [...]
Tory MP accuses Starmer of ‘blatant lie’ over energy bills claim February 25, 2026 A Tory backbencher has lashed out at Sir Keir Starmer for a “blatant lie” after he praised a drop in the energy price cap set by Ofgem. Katie Lam, who has weighed in on issues ranging from growth to immigration, said energy bills under Labour had spiked since it took to power in mid-2024. She [...]
Starmer to consider ways to make student loans ‘fairer’ February 25, 2026 Sir Keir Starmer has suggested he was open to making the student loans system “fairer” after pressure from Tory leader Kemi Badenoch. During Prime Minister’s Questions, Badenoch pressed Starmer on costly student loan repayments, which she suggested were at a “breaking point” for graduates. The Tories have vowed to abolish real interest rates on plan [...]
Reeves urged to cut bank tax as UK competitiveness lags February 25, 2026 Rachel Reeves is facing renewed calls to cut tax on the banking sector after new bombshell research laid bare the competitive disadvantage UK lenders are battling against. The Chancellor spared banks from a highly-anticipated fresh tax raid in the Autumn Budget but a new report – penned by the Association for Financial Markets (AFME) and [...]
UK unemployment will surpass pandemic high, says JP Morgan February 24, 2026 UK unemployment will brush past its peak in the Covid-19 pandemic, Wall Street’s biggest bank has predicted, as employer’s still feel the brunt of Rachel Reeves’ cash grabs. The rate of unemployed Brits is tipped to reach 5.5 per cent by the late spring, according to a forecast by JP Morgan, which would mark an [...]
Louise Haigh doubles down on demand for OBR overhaul February 24, 2026 Former transport secretary and vocal soft-left backbencher Louise Haigh has issued another plea for Chancellor Rachel Reeves to overhaul the Office for Budget Responsibility a week before the Spring Statement. In a swipe at the Chancellor’s management of the UK economy, Haigh argued that mandating the watchdog to produce five-year forecast windows “risks entrenching decline”. [...]
FTSE 100 Live: Stocks take a dip amid tariff turmoil; Oil price soars February 24, 2026 Good morning and welcome back to the City AM liveblog. The good old safety net of London’s blue-chip index strikes again. The week kicked off with more tariff drama after Saturday’s announcement from President Donald Trump of a sweeping 15 per cent levy across the US’ trading partners. As cool heads prevailed in government – [...]
Police arrest Lord Mandelson February 23, 2026 Peter Mandelson has been arrested on suspicion of misconduct in public office, weeks after the police launched an investigation into the former Labour peer over his relations with Jeffrey Epstein. The Met police said in a statement they had arrested a 72-year-old man in Camden. Mandelson was pictured being taken out of his house. A [...]
Admiral pubs boss: business rates will ‘kill off the high street’ February 23, 2026 The boss of a northern-based pubs company has claimed business rates will “kill off” the high street as well as pubs unless the levy is fundamentally reformed. Chris Jowsey, chief executive of Admiral Taverns, told City AM the government must deliver on its pledge to overhaul the business rates system, which he said “penalises bricks [...]
UK and Trump in new tariff discussions as businesses sound alarm February 22, 2026 The UK is in discussions with the US over President Trump’s latest tariff salvo, a cabinet minister has confirmed, as businesses sound the alarm about the increased rate. President Donald Trump raised his base global tariff rate to 15 per cent on Saturday after the US Supreme Court struck down the authority he used to [...]