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      Consumer confidence collapses as Iran war provokes inflation fears

      Retail sales slumped in May as tax hikes and economic uncertainty hit shoppers' spending

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Politics

  • Starmer says he doesn’t hold power to approve North Sea projects

    Politics

    Sir Keir Starmer has said he doesn’t hold legal powers to approve fresh exploration of North Sea oil and gas fields, with the decision falling in the hands of net zero secretary Ed Miliband. Starmer said current legislation determined that a quasi-judicial decision relating to cases for more gas extraction at Shell’s Jackdaw site and [...]

    Keir Starmer speaking at Prime Ministers Questions in the UK Parliament, addressing key issues with government officials.
  • Tories would welcome Claire Williams to party after former F1 owner’s comments

    Sport Business

    The Tories would welcome former Formula 1 team owner Claire Williams into their ranks after she expressed an interest in a political career. Williams, who once ran the eponymous Formula 1 team, which she sold for $150m in 2020, told City AM that she would be interested in going into politics once her child had [...]

    Breaking news event with a large crowd gathered in a city square, diverse attendees holding signs and banners, urban backdrop
  • Peter Kyle hints at push for EU customs union return

    Politics

    Business and trade secretary Peter Kyle suggested joining the EU’s customs union could improve the UK’s economic prospects, with new data suggesting that trade flows in London boomed last year.  After being asked twice whether war in the Middle East provided a stronger case for the UK to join the customs union, Kyle refused to [...]

    Peter Kyle speaking at a podium during a press conference, addressing current issues and developments
  • Price growth set to almost double yet interest rate hike uncertain

    March 25, 2026

    Price growth could jump to as high as five per cent within months, economists have said, leaving the outlook for interest rates more uncertain.  Top City economists said they expected inflation to rise to nearly double the rate seen just before war in the Middle East broke out, leaving the Bank of England with a [...]

  • Iran mocks Trump’s peace talks as oil price takes sharp drop

    March 25, 2026

    The Iranian regime has mocked claims from Donald Trump that talks to end the war were progressing as markets struggle to digest a mixed bag of messages. Tehran downplayed expectations of any immediate ceasefire, following emerging reports that the US had offered a 15-point ceasefire plan. The President said the US was in “productive” talks [...]

  • The UK went into this crisis weak and may emerge from it broken

    March 25, 2026

    Keir Starmer may take every opportunity to stress that the UK isn’t involved in the war and wanted nothing to do with it, but our economy is nevertheless entirely at the mercy of events taking place 4,000 miles away. The prospect of a negotiated settlement (at least anytime soon) feels remote and that uncertainty is [...]

  • Has YouGov been barraged by Farage?

    March 25, 2026

    Nigel Farage has never been shy in locking horns with big business. Just ask Dame Alison Rose, whose stint at Natwest came to a sharp halt after a row with Farage over a debanking. The British banker resigned after Natwest admitted to “serious failings” in closing the Reform UK leader’s account at its high-net-worth subsidiary [...]

  • Bank of England chief economist: Interest rates can ‘contain’ inflation

    March 24, 2026

    The chief economist at the Bank of England has said interest rates can “contain” inflation as he vowed to act against the damaging effects of the war in Iran.  Huw Pill, a member of the Bank’s Monetary Policy Committee, said he was focused on getting price growth down to two per cent in the medium [...]

  • UK economy facing ‘pronounced recession’

    March 24, 2026

    The war in the Middle East is “stalling growth” in the UK economy, fresh data has shown, as economists warned that a “pronounced recession” will come if energy prices stay high. A monthly survey of business activity across the country has suggested that there was a slowdown in output as well as a fall in [...]

  • Reeves pledges targeted support as she blasts Liz Truss’ £40bn energy bailout

    March 24, 2026

    Chancellor Rachel Reeves hit out at a Tory government-era energy support package that cost around £40bn in a further indication that any Labour scheme would only be for the poorest households.  In an address to the House of Commons, Reeves said there were “contingency plans” being drafted for different scenarios where energy prices stay higher [...]

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