More than 300,000 businesses plan job cuts as Reeves’ Budget starts to bite March 10, 2025 More than 300,000 businesses are expected to lay off workers, as a flurry of data reveals a jobs market slowdown following the government’s Budget measures on employment. The £25bn rise in national insurance contributions (NICs) announced by the Chancellor in October is set to kick in next month, while businesses are also reportedly spooked by [...]
The four factors set to raise inflation this year March 7, 2025 Inflation will briefly hit 3.6 per cent this year and “remain well above” the Bank of England’s target until late 2026, according to Oxford Economics. In a report led by UK economist Edward Allenby outlined the four key drivers of inflation in the upcoming year. Changes in the Budget Allenby highlighted the VAT slapped onto [...]
Employment reforms “highly damaging” to investment, warns CBI chief March 7, 2025 The government’s proposed reforms to employment law would be “highly damaging” to business investment in the UK, according to CBI president Rupert Soames. Writing in The Times, Soames argued that this week’s U-turns on more controversial aspects of the legislation – from changes to statutory sick pay, to tweaks to protections for agency workers and [...]
Investors pulled £3bn from funds in January amidst economic uncertainty March 6, 2025 Investors pulled £3bn out of funds amidst geopolitical and economic instability in January. This marked a sharp reverse from December, when £2.3bn had flowed into funds, according to data published by the Investment Association (IA). The research said macroeconomic conditions on the home front, namely the reacceleration of inflation, had played a part in the investment [...]
Week in Business: Who will Rachel Reeves blame for higher taxes in Spring Statement? March 6, 2025 City AM Editor Christian May looks at the biggest business stories in his weekly video, today focusing on the UK economy and upcoming Spring Statement.
Chancellor facing £10bn headache in Spring Statement March 6, 2025 Rachel Reeves faces a tax and spend nightmare at the Spring Statement, according to the Institute for Fiscal Studies (IFS) think tank. In a lengthy report, the IFS says Reeves is snookered between the realities of a bleak economic environment and her own self-imposed fiscal rules, resulting in what could amount to a £10bn tax [...]
UK construction output plummets to five-year low March 6, 2025 The UK’s construction output hit a five-year low in February as its fastest downturn since May 2020 continued. S&P Global’s UK Construction Purchasing Managers Index dropped to 44.6 in February, down from 48.1 in January. The latest figure indicated a steep decline in overall construction activity was propelled by a sluggish performance in residential buildings, [...]
Rachel Reeves calls for action to break down gender barriers to boost growth March 6, 2025 Ahead of International Women’s Day, chancellor Rachel Reeves has called for urgent action to dismantle barriers preventing women from reaching leadership positions. Her comments follow the release of new research from Vodafone, which found that over a third of women still see gender as a barrier to career progression. “The UK is leading the charge [...]
Reeves is gearing up for a blame game March 6, 2025 You can hear the spin a mile away; as the Chancellor’s team prepares for the Spring Statement the groundwork is being laid. Despite the fact that the inevitable consequences of the government’s multi-billion pound tax raid on businesses have been clear for months, with economic growth suffocated, sources close to the Chancellor are telling the [...]
UK growth outlook slashed amid tax and trade ‘double whammy’ March 5, 2025 The Chancellor’s growth agenda was dealt a fresh blow on Thursday after the British Chambers of Commerce slashed its forecast for the UK economy due to the tax and trade “double whammy” afflicting UK businesses. The business group now expects the UK economy to grow by just 0.9 per cent in 2025, a hefty downgrade [...]