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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Add growth to Bank of England’s remit, Treasury told

March 24, 2025

The Treasury has been urged to change the Bank of England’s remit to include growth after a new paper by the Institute of Economic Affairs (IEA) said a focus on nominal GDP would lead to “more stable” policymaking. The Bank is mandated to hit an inflation target of two per cent and sets interest rates [...]
London businesses dismiss Chancellor’s growth hopes

March 24, 2025

Firms across London think the government will fall flat on its ambition to grow the UK economy, a new survey has shown. Chancellor Rachel Reeves has set out to woo businesses in the City of London over the last few years. But around nine in ten businesses across the capital doubt the government can achieve growth, [...]
Mixed bag of PMI data as services grow but manufacturing slumps

March 24, 2025

Chancellor Rachel Reeves has received mixed signals about the state of the UK economy ahead of her Spring Statement as S&P Global’s purchasing managers’ index (PMI) pointed to an upturn in services while manufacturing declined again. The Spring Statement will be delivered on Wednesday as global trade war tensions escalate and worries over incoming tax [...]
Chancellor’s £40bn tax raid blamed for manufacturing slump

March 21, 2025

Manufacturing has seen a faster fall in output at the beginning of this year as Chancellor Rachel Reeves’ £40bn tax raid means businesses are “conserving funds”, research by the Confederation of British Industry (CBI) suggests. The sector is seen as crucial to the Labour government’s growth plans as it pushes for a rise in technology [...]
OBR growth forecast ‘will be halved’

March 21, 2025

Chancellor Rachel Reeves’ hopes for growth are set to be shattered as another forecaster looks to downgrade expectations. The Bank of England halved its growth forecasts from 1.5 per cent to 0.75 per cent in February while the OECD recently dropped predictions the UK would expand by 1.7 per cent. Now The Telegraph is reporting [...]
Walls close in for Rachel Reeves as borrowing shoots up

March 21, 2025

Chancellor Rachel Reeves’s headroom is shrinking as government borrowing in February exceeded the Office for Budget Responsibility’s (OBR) prediction, new data showed. Reeves has insisted that financial prudence is key to the government’s economic agenda. But the latest data released by the Office for National Statistics (ONS) suggests she has less headroom than expected. The [...]
Bank of England holds interest rates amid low growth and trade tensions

March 20, 2025

The Bank of England has held interest rates at 4.5 per cent as worries over a global trade war flare up. Rate-setter Swati Dhingra, an external member on the Monetary Policy Committee (MPC), was the lone wolf who voted for a 25 basis point cut. The decision saw Catherine Mann split from Dhingra after the [...]
UK wage growth remains hot as Bank of England set to decide on interest rates

March 20, 2025

Wage growth has continued to soar, new figures have revealed. The Office for National Statistics (ONS) said that annual regular pay, excluding bonuses, grew 5.9 per cent between November 2024 and January 2025. Total pay growth, which includes bonuses, increased by 5.8 per cent. “Overall pay growth remains relatively strong, with pay growth high in [...]
Bullish Gen Z bucks consumer confidence trend

March 20, 2025

Gen Z’s plans to go big on spending in the next three months have contributed to a rise in consumer confidence, a new survey has suggested. Barclays last year predicted in November that people born between 1996 and 2010 would account for around 39 per cent of retail spending by 2030. Now a new survey [...]
London firms struggling to recruit staff as people want to WFH

March 20, 2025

Firms in London are struggling to recruit staff as over four in five businesses have vacancies, according to a new survey of 1,000 companies. Mayor Sadiq Khan recently announced plans to boost economic growth in the capital, but the latest survey by BusinessLDN suggests he may have a mountain to climb before he achieves his [...]

Healey vows AI will not ‘leave workers behind’ in £600m Budget package

Royal Antwerp: Legal bid to torch football’s homegrown quotas suffers shock defeat

Ian McKellen flirts with Ncuti Gatwa in delightful Frank and Percy film – review

By: Maurício Alencar

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