By: Felix Armstrong

Felix Armstrong is a freelance journalist interning at City A.M. He is currently studying at the University of Cambridge, and has written for the Telegraph and the Times.

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Will the Autumn Budget push up inflation?

October 30, 2025

For a few weeks, there was one thing Rachel Reeves appeared to speak about more than anything else: inflation. Earlier this month, the Office for National Statistics (ONS) confirmed inflation hit 3.8 per cent in the year to September, nearly double the Bank of England’s target rate. The IMF and the OECD said the UK [...]
‘Unprecedented’ number of small businesses expect to shrink or close down

October 30, 2025

A record number of small businesses are expecting to shrink or close down in the next year, a leading industry group has warned, amid a “vicious” cycle of low growth and fears that next month’s Budget could cause more pain for businesses. Nearly one in three of the UK’s small businesses (30 per cent) expect [...]
Mortgage lending hits highest level since March amid pre-Budget rush

October 29, 2025

Net borrowing of mortgage debt rose to the highest level since March this year, money and credit statistics published by the Bank of England have shown, in signs that Brits are rushing to buy homes before any new property taxes are announced at the Budget. Net borrowing rose by £1.2bn to £5.5bn while mortgage approvals [...]
Is Brexit really to blame for the Chancellor’s growth headache?

October 23, 2025

As the government prepares the public psyche for substantial tax hikes at next month’s Budget, the Chancellor has taken a Brexit-shaped risk. Keir Starmer’s government has largely opted for caution over talking about relations with the European Union. The Prime Minister has insisted that re-opening the Brexit debate would bring only “turmoil” but he also [...]
Benefits to increase more than expected next April

October 22, 2025

Most state benefits will rise by 3.8 per cent next year in line with September’s rate of inflation, exceeding earlier predictions by the Treasury watchdog. September’s CPI inflation figures are used to calculate the increase to many welfare bills which take effect next April, including universal credit and personal independence payments (Pips). The rise is [...]
Rachel Reeves’ growth policies scored by City AM

October 20, 2025

As Rachel Reeves does her maths ahead of the 26 November Budget, she will hope that Labour’s policies have delivered enough growth to limit the number of tax hikes needed to restore her £9.9bn fiscal headroom. The fiscal black hole facing the Treasury could be between £20bn and £30bn due to higher borrowing costs, productivity [...]
Hiking VAT would have ‘serious negative impact’, economists warn Reeves

October 10, 2025

A hike to VAT would “have a serious negative impact” on the UK, leading economists have warned, as the chancellor weighs which taxes to put up at next month’s Budget to plug a £30bn shortfall. An increase in the sales levy would have the biggest negative impact of any major tax rise, leading to a [...]
What will Rachel Reeves’ budget pay for and where will the money come from?

October 9, 2025

Rachel Reeves’ November budget is fast approaching, and steep tax rises are once again on the cards. Speaking at Labour conference last month, the Chancellor hinted at tax hikes by warning that she will be forced into “harder choices” by “harsh global headwinds”. To balance the books in accordance with her much-discussed fiscal rules, Reeves [...]
Capital gains tax raid should have ‘health warning’, Labour warned

October 6, 2025

Labour risks stunting growth and discouraging investment if it pursues further capital gains hikes, tax advisers have warned, as reforms proposed by top think tanks were pushed back on by industry figures. Rachel Reeves and Keir Starmer have talked up the prospects of attracting investment in the UK and making the wider tax system fairer [...]
Explainer: Why are energy prices so high?

October 2, 2025

Energy prices for consumers across the UK rose again this month. Ofgem, the energy regulator, set the maximum annual rate for an average household for gas and electricity at £1,755 until the end of the year. The cap is now over £600 higher than when it was first introduced in 2019. Under the cap, [...]

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By: Felix Armstrong

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