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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Burnham refuses to rule out ‘exit tax’ as founders warn of wealth exodus

June 25, 2026

Entrepreneurs are calling for Andy Burnham to rule out an exit tax or risk another wave of Britain’s wealth creators quitting the UK. Speculation around a so-called ‘settling up’ charge, which would be levied on business owners if they leave the country, is already causing some founders to consider moving overseas, several executives told City [...]
Exclusive: Russian ambassador was invited to box at Queen’s Club

June 25, 2026

The Russian ambassador to the UK was invited to sit in a box at Queen’s tennis club during last week’s 2026 HSBC Championship, City AM can reveal. Andrey Kelin, who has been Vladimir Putin’s chief diplomat based in the UK since 2019, was photographed at the private tennis club in West London during the precursor [...]
Starmer defends ‘treacherous’ Reeves and Miliband despite Badenoch jibes

June 24, 2026

Sir Keir Starmer jumped to the defence of senior Cabinet ministers Ed Miliband and Rachel Reeves despite brutal attacks by the Tory leader Kemi Badenoch. In one of his last Prime Minister’s Questions, Starmer defiantly stood by the Chancellor, who sat on the front bench alongside him, and praised her for “breaking from austerity” and [...]
Burnham coronation closer yet Starmer ally raises alarm on borrowing

June 24, 2026

Andy Burnham’s path to Downing Street has been all but cleared after Darren Jones ruled out entering a leadership race, spilling over to further speculation over the look of the next government’s Cabinet. Jones, a close ally of Sir Keir Starmer, was rumoured as a potential challenger to Burnham but the chief secretary to the [...]
Former Bank of England rate-setter to become next OBR chair

June 23, 2026

A former rate-setter at the Bank of England and member of City AM’s Shadow Monetary Policy Committee is set to become the chair of the Office for Budget Responsibility, the fiscal watchdog which has come under pressure from MPs and inadvertently leaked last year’s Budget. Jonathan Haskel, professor of economics at Imperial College London, will [...]
Starmer to give Burnham access to government

June 23, 2026

Sir Keir Starmer is set to hand Andy Burnham access to the civil service “as soon as possible”. After announcing his resignation, Starmer is preparing for a transition in government over the next four weeks. A government spokesperson confirmed that Burnham and other prospective Prime Ministers would be able to engage with senior civil servants [...]
Warning lights: UK services suffer worst shock since January 2023

June 23, 2026

Business activity across the UK economy is at a 14-month low, research has suggested, as growth has taken a toll from Labour’s political woes and the impact of the continued trade disruption. The initial estimate for S&P Global’s purchasing managers’ index (PMI) dropped to a score of 49.4 in June, falling further below the neutral [...]
Five graphs that reveal Burnham’s fiscal headache

June 23, 2026

Andy Burnham was not shy with his spending pledges in the run up to victory in Makerfield last week. At various points, the former Manchester Mayor has pledged his party will nationalise water companies, including Thames Water; “stick with” the Waspi women, signalling a potential multi-billion pound payout to aggrieved pensioners; slash rail fares; kick [...]
Streeting backs Burnham as ‘King of the North’ calls for ‘orderly’ transfer of power

June 22, 2026

Wes Streeting has backed Andy Burnham to become Prime Minister as the former Manchester mayor formally announced his leadership bid. The former health secretary said Burnham “can win the fight of our lives against the forces of nationalism”. Streeting said he had spoken “at length” with Burnham and said the former Manchester mayor was “committed [...]
As it happened: How Starmer resigned and when Streeting backed Burnham

June 22, 2026

Sir Keir Starmer resigned as Prime Minister. The Labour leader said on Monday he “had heard the answer of the parliamentary party” that he was not the right person to lead the party into the next election. He said nominations for a new leader will open on July 9, and if a contest goes ahead, [...]

Burnham declines to back Heathrow third runway amid four-year delay

Should Vuori ditch Draper over injury-hit tennis season?

Two countries, one holiday: Turkey’s glitzy Bodrum and Greece’s unbuttoned Kos

By: Maurício Alencar

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