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 [...]
Emergency lifeline for collapsed banks doubled to £3bn May 18, 2026 The emergency credit fund that serves as a lifeline for collapsed lenders has been doubled as a result of “recent regulatory and operational developments”. The Financial Services Compensation Scheme (FSCS) – working in tandem with the Treasury and Bank of England – has hiked its revolving credit facility capacity to £3bn from £1.45bn previously. The [...]
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 [...]
Rachel Reeves to scrap fuel duty hike May 18, 2026 Rachel Reeves is set to scrap plans to hike fuel duty, following pressure over the impact of the Iran war on fuel prices and the cost of living. Fuel duty was first frozen by the Tories in March 2022 and the Chancellor had extended this hold on the rate until the end of August this [...]
As it happened: IMF lifts UK GDP and stocks reverse losses as bonds warned of ‘correction’ May 18, 2026 Welcome back to the City AM liveblog. The bond market is taking a breathe after mountains of pressure on Friday. The UK’s borrowing costs hit their highest since 2008, charging to 5.17 per cent during one part of the day’s trading session. This was topped once more on Monday morning, but since then yields have [...]
Kemi Badenoch warns of ‘Burnham premium’ on mortgages May 17, 2026 Kemi Badenoch has warned that Andy Burnham would saddle the UK with a “Burnham premium” on mortgages and borrowing costs as Labour’s leadership crisis continues following the mayor’s planned return to Westminster. The Conservative leader seized on mounting speculation around Burnham’s ambitions after the Makerfield by-election became the latest flashpoint in Labour’s increasingly public civil [...]
Andy Burnham plots Westminster return warning Labour has ‘let people down’ May 17, 2026 Andy Burnham has moved a step closer towards a return to Westminster after confirming that winning the forthcoming Makerfield by-election would be the “first stage” in a wider bid to reshape Labour. The Greater Manchester mayor has repeatedly distanced himself from Sir Keir Starmer’s government, criticised Britain’s economic direction over the past 40 years and [...]
‘I’ll be standing’: Streeting gears up to join leadership race as Burnham vows to save Labour May 16, 2026 Former health secretary Wes Streeting has confirmed he will join any potential leadership race, as pressure piles on Starmer’s premiership. Speaking to Sky News, Streeting spoke of his intention to join the race. He said: “We need a proper contest with the best candidates on the field, and I’ll be standing.” He went on to [...]
UK government at risk of grinding ‘to a halt’ amid leadership race drama May 16, 2026 Ministers and senior civil servants have warned that sections of the UK government are at risk of hitting a standstill amid the growing likelihood of a Labour leadership contest. Government figures have expressed concern a contest could overshadow Starmer’s agenda and key initiatives, including the push for closer UK relations with the EU. Worries have [...]