The pensions triple lock is a travesty. Our politicians must fess up July 16, 2026 We report this week that the OECD has added itself to a growing list of institutions warning over the sustainability of Britain’s triple lock pensions system, the policy that guarantees the state pension rises annually by the highest of inflation, earnings growth or 2.5 per cent. The triple lock, the Paris-based OECD warns, is “unusually [...]
UK economy grows despite Iran war hit July 16, 2026 The UK economy grew marginally in May after strong performance in parts of the services sector helped soften the impact of Iran war and narrowly prevented a contraction. Fresh figures from the Office for National Statistics (ONS) have revealed the economy grew 0.1 per cent in May, broadly in line with market expectations. The services [...]
As it happened: Stocks drop on Trump-Iran warning; Mahmood tipped to be chancellor July 16, 2026 Welcome back to the City AM liveblog. The UK has received fresh economic growth data this morning which has put GDP expansion at a sluggish 0.1 per cent for the month of May. The services sector – which contributes more than 80 per cent of total economic output – grew 0.3 per cent against steep [...]
Aegon warns red tape is blocking pension investment spree July 16, 2026 Aegon has warned that regulation is holding back some of Britain’s top pension fund managers from pumping cash into the country’s start-ups and unlisted companies. The pension giant, which manages £160bn of assets in the UK alone, was one of 11 companies alongside Aviva and Legal & General to commit to investing five per cent [...]
Forget Burnham, what will Starmer do next? July 16, 2026 The end of a premiership means finding an epilogue, so what will Keir Starmer’s be, asks John Oxley Around the summer parties of Westminster, the key conversation is “What will Andy actually do?” The presumptive PM has always been something of a political enigma (or weathervane, depending on your perspective). He has been out of [...]
Shabana Mahmood set to be named Chancellor by Burnham July 15, 2026 Shabana Mahmood is set to be named Chancellor by Andy Burnham next week when the former Manchester mayor takes the keys to Number 10, according to reports. The home secretary has now pipped Ed Miliband, Yvette Cooper and Wes Streeting to Rachel Reeves’ post, the Financial Times reported. A source told the paper: “Shabana is [...]
AI minister: UK sets sights on global AI leadership, not Silicon Valley emulation July 15, 2026 AI minister Kanishka Narayan said the UK must build enough domestic AI capability to “shape our own destiny” rather than rely on overseas tech giants as the government accelerates its push to develop sovereign AI infrastructure. Narayan told City AM that AI had become “the defining currency” of geopolitical and economic power, arguing that the [...]
Pension funds pledged a private investment splurge. Three years on, has anything changed? July 15, 2026 When 11 of the UK’s largest pension providers signed a deal to pump billions into unlisted companies in July 2023, the mood at Mansion House in the City was celebratory. Then Chancellor Jeremy Hunt hailed the signing a “great personal triumph” for then Lord Mayor, Sir Nicholas Lyons. If the remainder of the UK defined [...]
The Debate: Should political donations be capped at £100,000? July 15, 2026 Britain currently has no cap on political donations. Is this freedom, or madness? We hear both sides in this week's Debate.
OECD sounds alarm on pension triple lock in challenge to Burnham July 15, 2026 The world’s leading independent economic organisation has warned that reform of the triple lock on state pensions is “necessary to reduce fiscal risks”, in a challenge to Andy Burnham as he prepares to take over as Prime Minister. The OECD, the Organisation for Economic Co-operation and Development, described the triple lock guarantee as “unusually generous [...]