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      Bailey: Businesses trying not to pass costs on to consumers

      Bank of England Governor Andrew Bailey said cited several indicators that the labour market was softening.

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UK Government

  • Government slammed over digital safety, as MPs demand tougher screen time controls

    May 22, 2025

    The UK government has come under fire from education leaders and MPs after issuing what has been branded a “disappointing” and “lacking urgency” response to calls for tighter regulation around children’s screen time and digital safety. The Education Select Committee has condemned ministers for downplaying recommendations from its May 2024 report on screen time, which [...]

  • Labour and Tories fight for credit on lowering migration

    May 22, 2025

    Long-term net migration to the UK was halved in 2024, official data by the Office for National Statistics (ONS) showed, triggering a battle between the Labour government and the previous Conservative administration to claim credit for the fall. Total net migration fell from 860,000 in 2023 to 431,000 in 2024, the report found. The data [...]

  • UK economy shows early signs of recovery after ‘Awful April’ 

    May 22, 2025

    The UK economy looks set to recover from a torrid month for businesses in which higher energy costs and employment tax rises kicked into effect, fresh data has suggested.  S&P Global’s latest flash purchasing managers’ index (PMI) showed that the UK’s services sector has seen moderate growth in output in May while contractions in manufacturing [...]

  • UK net migration almost halves in 2024

    May 22, 2025

    Net migration was cut in half in 2024 as 431,000 people arrived in the UK, official data has shown, suggesting Tory-era policies have had some of their desired effects.  The Office for National Statistics (ONS) said fewer people arrived on work and study-related visas while an increase in Brits leaving the UK also reduced net [...]

  • Reeves’ impossible mission to save the public finances – in four charts

    May 22, 2025

    Government borrowing spiked in April, according to official data, in a stark illustration of the difficult fiscal tightrope that the Chancellor Reeves is walking. The £20.2bn in monthly borrowing was steeper than economists’ prediction of £18bn. So, Reeves might have shivered when she heard Keir Starmer tell the House of Commons winter fuel payments would [...]

  • UK government borrowing blows past estimates on Labour’s spending plans

    May 22, 2025

    Government borrowing spiked in April, official data has shown, reflecting Rachel Reeves’s difficulties in controlling public finances.  The rise to £20.2bn in monthly borrowing was more than economists’ prediction of £18bn. Capital Economics suggested that the rise in borrowing costs since March via debt interest payments has slashed Reeves’ headroom down to £5.7bn. Tax receipts [...]

  • Starmer refuses to rule out further tax rises

    May 21, 2025

    The Prime Minister has refused rule out further tax rises when challenged by Tory leader Kemi Badenoch during Prime Minister Questions. The fiery exchange came after it was revealed that Deputy Prime Minister Angela Rayner pushed for a £4bn tax hike on wealthier people in the lead up to the Spring Statement earlier this year. [...]

  • Reeves warned against bank tax raid

    May 21, 2025

    Rachel Reeves has been warned of the growth consequences of upping tax on lenders after a leaked memo from Angela Rayner called for the Chancellor to launch a cash grab on banks. Reeves was sent a memo by the Deputy Prime Minister ahead of the spring Statement, which called for an annual £700m hike on [...]

  • Government U-turns on winter fuel allowances

    May 21, 2025

    Keir Starmer plans to soften the government’s stance on winter fuel allowances in a major U-turn after restrictions on the payments sparked a backlash from pensioners. During Prime Minister’s questions, the Prime Minister said the government wants to “ensure that as we go forward, more pensioners are eligible for winter fuel payments,” as part of [...]

  • Angela Rayner pushes for tax hikes on savers, in split with Reeves

    May 21, 2025

    Angela Rayner reportedly pushed for a £4bn tax raid on wealthier Brits in the lead up to the Spring Statement, in signs of a senior Cabinet level split on economic policy.  According to a leaked note reportedly seen by The Telegraph, the Deputy Prime Minister lobbied the Chancellor to introduce billions of pounds of taxes [...]

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