By: Mauricio Alencar

Politics and Economics Reporter Maurício Alencar is City AM’s Politics and Economics Reporter. He covers the state's relationship with the City of London and UK business, jumping between Westminster and the Square Mile. He picks up all stories on UK economics data ranging from inflation to immigration, as well as the Bank of England, the Treasury, business surveys, and all stories important or interesting to the decision-makers. He used to cover sports, foreign news and home news at various publications – plus investigations, which he plans to continue to pursue.

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Reeves’ savings package to have minimal impact on inflation rise

Economics

A discount campaign launched by Chancellor Rachel Reeves will “shave off” an expected rise in inflation, analysis has suggested, as economists have raised concern over Britons’ inflation expectations. Reeves’ move to delay a hike in fuel duty beyond September and offer VAT relief for businesses giving families reduced prices could strip 0.2 percentage points off [...]
Burnham hits back at Blair with more state control for ‘good growth’

Politics

Andy Burnham has called for stronger state intervention in the economy to deliver what he calls “good growth,” lashing back at Tony Blair’s blueprint for Labour’s future direction. The Greater Manchester mayor conceded areas of agreement with the three-time election winner — notably on the importance of economic growth— but accused Blair of a “gaping [...]
Treasury still has £5bn to spend on Covid-19 – taking total bill to £385bn

Economics

The Treasury has said it still needs to spend £5bn more on Covid-19 measures more than four years after the last lockdown restriction was lifted, taking the total estimated costs to taxpayers to £385bn. In a cost tracker update on Thursday, the government said it had already spent £380bn on Covid-19 support since the pandemic [...]

Milburn review: Youth unemployment crisis costs £125bn a year due to ‘broken system’

May 28, 2026

The crisis of nearly a million young people who are out of education, employment or training – known as ‘Neets’ – costs the UK economy up to £125bn a year, the Alan Milburn review has found, as both the government and the private sector were blamed for failing to address youth unemployment. An extensive report [...]
Number of Neets passes 1m

May 28, 2026

The number of Neets, otherwise young people not in education, employment or work, jumped past 1m in the first three months of 2026, official data has revealed. The Office for National Statistics (ONS) has said that there were 1,012,000 young people between the ages of 16 and 24 out of work in the first three [...]
‘It’s important we increase spending’: Treasury minister defends triple lock pension

May 27, 2026

A Treasury minister has defended the triple lock pension as a sustainable policy despite former Prime Minister Sir Tony Blair attacking the benefit for being unaffordable. Dan Tomlinson said it was “important we have the triple lock and that we increase spending on pensioners”, doubling down on the controversial manifesto commitment that has been criticised [...]
Top spook says Russia ‘relentlessly targeting’ UK infrastructure

May 27, 2026

One of Britain’s top spooks is set to warn that Russia is “relentlessly targeting” the country’s critical infrastructure as businesses have been urged to take action on cyber security. GCHQ director Anne Keast-Butler will deliver a speech on Wednesday where she will warn the public about cyberattacks by Russia and other hostile actors targeting the [...]
Wes Streeting’s capital gains tax plan risks ‘disrupting’ growth

May 26, 2026

Wes Streeting’s plans to align capital gains taxes while introducing an investment allowance could be “disruptive” for growth as City advisers have become divided over the benefits of sweeping reforms. Streeting told the BBC last week that he backed a plan, first proposed by the Centre for the Analysis of Taxation (Centax) and later adopted [...]
London makes up more than a third of UK corporation tax receipts

May 26, 2026

London accounts for more than a third of total corporation tax receipts across the UK, new data analysed by City AM has shown. Data shared by the Office for National Statistics (ONS) has shown that London makes up around 36 per cent of total corporation tax income generated each year, highlighting the capital city’s dominance [...]
Labour has not delivered on planning reform, manufacturers say

May 26, 2026

UK manufacturers have hit out at the country’s archaic planning system, claiming the Labour government has not delivered on stated aims to back builders over blockers. A new report from industry body Make UK found that almost half of manufacturers (46 per cent) believe the current planning system is still hampering the UK’s economic potential, [...]

Iran and Russia to target Fifa World Cup, threat experts say

Iran and Russia to target Fifa World Cup, threat experts say

I’m 50 – but I feel young dining at Simpson’s in the Strand

By: Mauricio Alencar

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