Wage growth comes in ahead of expectations despite loosening labour market November 12, 2024 Bank of England rate-setters received a mixed picture from the latest labour market figures, with progress on wage growth stalling even as unemployment crept up. According to the Office for National Statistics (ONS), pay growth excluding bonuses eased to 4.8 per cent in the three months to September, down from 4.9 per cent previously but [...]
US election shows voters care more about inflation than growth November 12, 2024 Donald Trump's re-election as President has raised fundamental questions for Labour's economic and political agenda, writes Chris Dorrell
Labour will be thinking global, but their fortunes depend on the local November 12, 2024 Labour strategists will be focused on what Trump’s victory means for Britain and the world, but the government will soon face big challenges at the local level, says James Nation Following on from the US election result, takes abound on what Trump 2.0 means for the world and for the UK. On the economy, there [...]
Ministers either don’t understand private sector, or don’t care November 11, 2024 No politician could actually get away with telling businesses to “suck it up” when they warn about the impact of tax rises, though Labour’s Darren Jones came dangerously close yesterday, airily telling the BBC that bigger businesses can handle higher costs. While it’s true that they’ll find a way to pay these new taxes and [...]
Business Budget backlash builds as hospitality giants write to Chancellor November 11, 2024 The government is under increasing pressure to revisit its hikes to employer national insurance contributions and the minimum wage after a number of the UK’s largest employers voiced concerns about the impact of the changes on their costs and operations. Over 200 of the UK’s biggest hospitality businesses signed a letter to the Chancellor yesterday [...]
The real reason Britain doesn’t build November 11, 2024 Planning isn’t the only reason we have a housing shortage, too many developments just aren’t economically viable, says Melanie Leech The government is undoubtedly right to focus its efforts on reforming the planning system. Ask the anyone in the property industry and they will say that the system is complex, burdensome, under-resourced, and prone to [...]
Budget tax rises will ‘dampen hiring’ as jobs market remains muted November 8, 2024 The latest report on jobs from KPMG and the Recruitment and Employment Confederation (REC) showed that the number of staff appointments in October fell to its lowest level since March.
Serco: FTSE 250 firm predicts £20m hit from Budget tax changes November 8, 2024 British outsourcing giant Serco stressed the tax changes in the UK following the Budget will increase cost by £20m per year
Prospect of fewer rate cuts buoys sterling and UK-focused stocks November 7, 2024 The pound and UK-focused stocks rose this afternoon after the Bank of England indicated it would take a more “gradual” approach to cutting rates in the year ahead. The Bank’s Monetary Policy Committee (MPC) voted to lower the base rate to 4.75 per cent in a widely anticipated move that follows a sharp fall in [...]
The Bank of England has a lot to be cautious about November 7, 2024 The Bank of England's latest interest rate decision could hardly have come at a busier time.