By: Maurício Alencar

Politics and Economics Reporter Maurício Alencar is City AM’s Economics and City Reporter. He covers 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 City of London. He used to cover foreign news and sports at various publications – plus investigations, which he plans to continue to pursue.

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OBR chair: Reeves is exposed to ‘inevitable’ shocks

April 1, 2025

The Office for Budget Responsibility (OBR)’s chair Richard Hughes said Chancellor Rachel Reeves’s small headroom means the Treasury has left itself exposed to “inevitable” economic shocks. The role of the fiscal watchdog has come under greater scrutiny since Reeves made cuts totalling £14bn in order to meet her fiscal rules at last week’s Spring Statement. [...]
UK manufacturing woes deepen as industry ‘hit on several fronts’

April 1, 2025

The latest S&P Global’s UK Purchasing Managers’ Index (PMI) shows that UK manufacturing’s woes have deepened. S&P Global’s latest PMI survey, which asks around 600 industrial companies about their performances, suggests that manufacturing is again in the downturn following a poor start to the year. The latest figure showed that it decreased to 44.9, which [...]
Business leaders ‘remain depressed’ as employment costs spiral

April 1, 2025

Business leaders remain disheartened about their organisations and the wider UK economy amid an escalating global trade war and higher employment costs, according to a new survey of over 600 directors. Confidence among company directors collapsed after Labour took office last year. Now the Institute of Directors (IoD)’s latest update to its monthly survey suggests [...]
Bank of England to hike FSCS protection from £85,000 to £110,000

March 31, 2025

UK depositors will receive greater protection from the Bank of England as the amount of money covered by a nationwide deposit guarantee scheme is set to rise to £110,000. The scheme provides financial protection to depositors in case banks, building societies, and credit unions become insolvent. It is funded by a levy paid by regulated [...]
UK mortgage approvals dip in February

March 31, 2025

Mortgage approvals for house purchases decreased again in February as gains in consumer credit borrowing slowed down by £300m compared to January, the Bank of England said on Tuesday. House buying appeared to slow down as lenders approved around 65,500 mortgages in February, compared to some 66,100 in January. January saw a decrease of around [...]
Tax paid by companies has nearly doubled in 10 years

March 31, 2025

Businesses account for over a quarter of all UK tax receipts, according to new research by Thomson Reuters. Chancellor Rachel Reeves said Labour would become more “pro-business” than previous governments in the run-up to last year’s election. But new data by Thomson Reuters raises questions about the Chancellor’s record in office as companies face an [...]
Are Brits getting richer? It depends how you measure growth

March 30, 2025

Wobbly growth is the opposite of what Rachel Reeves would have hoped for in her first six months as Chancellor. While the headline figure on Friday morning said the UK economy had only expanded by 0.1 per cent in the last quarter of 2024, economists suggested that there was a more pressing matter at hand. [...]
Rachel Reeves has already lost half of her £9.9bn headroom

March 28, 2025

Chancellor Rachel Reeves has had £5bn wiped off her headroom less than 48 hours after she delivered her Spring Statement, a calculation by Bloomberg Economics has suggested. Chancellor Reeves has received several warnings from leading economists at the Office for Budget Responsibility (OBR) and the Institute for Fiscal Studies (IFS) that her headroom risks getting [...]
UK growth nearly stagnant in last quarter of 2024

March 28, 2025

The UK economy barely grew in the final quarter of 2024 as estimates remained unchanged, figures from the Office for National Statistics (ONS) said. Chancellor Rachel Reeves has vowed to deliver growth “further and faster”. But Reeves has faced a rocky start as GDP only grew by 0.1 per cent between October and December. Previous [...]
Retail sales beat expectations as Brits keep shopping

March 28, 2025

Retail sales volumes beat expectations in February as British shoppers seemed to loosen their spending habits, according to the Office for National Statistics (ONS). Retail sales rose one per cent month-on-month after rising 1.4 per cent in January. Markets had expected a decline of 0.3 per cent. Annual retail sales growth came in at 2.2 [...]

Healey urged to cut business costs as consumer confidence slips

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By: Maurício Alencar

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