Andy Burnham will be ‘in hock’ to the bond markets whether he likes it or not June 24, 2026 With the highest gilt yields in the G7, more borrowing is no longer an option for the next Prime Minister. That leaves the traditional options: raise taxes, cut spending or embark on more ambitious supply-side reforms in areas such as planning, says Daniel Mahoney Governments needing money usually have three options: tax more, spend less, [...]
The fallacy of blaming rich footballers for inequality June 24, 2026 There is a persistent belief that the high pay of the few has suppressed that of the many. The data says differently, writes Paul Ormerod.
Has Brexit been a success? It’s too early to tell June 24, 2026 Ten years ago today the country woke to the news that the UK had voted to leave the European Union. Campaigners for Remain were horrified, pro-Brexit activists were jubilant, markets were panicked and in Westminster the Prime Minister, David Cameron, resigned. The magnitude of the Leave campaign’s victory – of their achievement – was sinking [...]
Badenoch sets sights on battle with the Bank June 24, 2026 The City is in the mood for a regulatory bonfire and Kemi Badenoch hopes to be the one to light the flame. In this week’s column, Samuel Norman looks at the roadblocks she may face on her pursuit. “Don’t forget about Andrew Bailey.” That was the parting shot I got from a former Bank of [...]
A decade after Brexit, what does the City want next? June 24, 2026 The 46th floor of the iconic One Canada Square building was once home to the European Banking Authority. Towering over a sea of skyscraper headquarters adorned with the biggest names in finance, the watchdog’s office was both a nod to its regulatory might, turbocharged by the fallout from the 2008 crash, as well as to [...]
Reeves’ new tax charge on cash ISAs faces fierce industry backlash June 23, 2026 The Treasury has revealed plans for the UK’s new ISA regime, which will see it tax interest on cash held in stocks and shares ISAs at 22 per cent, prompting fierce backlash from industry figures, who argue that the decision is “riddled with unintended consequences”. HMRC updated the market on three rules that will create [...]
Former Bank of England rate-setter to become next OBR chair June 23, 2026 A former rate-setter at the Bank of England and member of City AM’s Shadow Monetary Policy Committee is set to become the chair of the Office for Budget Responsibility, the fiscal watchdog which has come under pressure from MPs and inadvertently leaked last year’s Budget. Jonathan Haskel, professor of economics at Imperial College London, will [...]
Starmer to give Burnham access to government June 23, 2026 Sir Keir Starmer is set to hand Andy Burnham access to the civil service “as soon as possible”. After announcing his resignation, Starmer is preparing for a transition in government over the next four weeks. A government spokesperson confirmed that Burnham and other prospective Prime Ministers would be able to engage with senior civil servants [...]
10 years on from Brexit, traders shouldn’t forget the power of comms June 23, 2026 A decade on from Brexit, and its Big Short style market swing, traders should remember the importance of comms, writes ex-rates trader Oliver Blower.
Warning lights: UK services suffer worst shock since January 2023 June 23, 2026 Business activity across the UK economy is at a 14-month low, research has suggested, as growth has taken a toll from Labour’s political woes and the impact of the continued trade disruption. The initial estimate for S&P Global’s purchasing managers’ index (PMI) dropped to a score of 49.4 in June, falling further below the neutral [...]