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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Starmer admits defence upgrade doesn’t have enough funding

March 23, 2026

Sir Keir Starmer has admitted the government’s proposed defence plan does not have enough as he vowed to “resolve” the rift between the Treasury and the Ministry of Defence. The Prime Minister admitted a target to raise spending on defence from 2.5 per cent of GDP in 2027 to 3.5 per cent in 2035 required [...]
How the Bank of England will read into outdated inflation data

March 23, 2026

Can data be redundant? The Office for National Statistics will this week give the impression that inflation is stable. Economists have predicted the consumer price index inflation print for the year to February to come in at three per cent, like last month, which would have otherwise made for satisfactory reading. But the figures precede [...]
MoD looks to hire AI chief on £185,000 – just don’t use it in your application

March 23, 2026

The Ministry of Defence is on the search for a new AI chief to put the UK on a tech war footing. The MoD said its new chief AI officer would be in charge of leading an in-house technology centre and bringing AI into operation across the military for “maximum impact”. The London-based job will [...]
Trump’s call to pause strikes in Iran boosts markets

March 23, 2026

Global markets leaped on news that President Trump paused strikes on Iranian infrastructure as he hinted that negotiations had been “very good and productive”. Brent crude – the international benchmark for oil prices – plunged back to below $100 per barrle after having jumped to $112 earlier in the day. The FTSE 100 also rose [...]
Starmer vows to use ‘every lever’ to protect Brits from damage to UK economy

March 23, 2026

Sir Keir Starmer has vowed to use “every lever” to prevent households from being hit by higher energy prices amid growing fears the Iran war is wreaking havoc on the UK economy. On Monday morning, the Prime Minister suggested an emergency Cobra meeting between the most senior government ministers and the Bank of England governor [...]
UK economy in peril as growth forecast slashed in half

March 20, 2026

The UK economy is set to grow by half as much as economists predicted before the war in Iran started as forecasters attempt to make sense of how deep the impact of an energy price shock will be. A leading economics consultancy has revised its UK growth forecast down to 0.4 per cent compared to [...]
Borrowing costs soar to post-financial crisis high in blow to Reeves

March 20, 2026

UK government borrowing costs have soared to their highest level since the Great Financial Crisis in 2008, with markets frightened by the state of public finances in the face of another global price shock. Gilt yields have inched up over the course of the week, with the ten-year gilt yield topping 4.9 per cent on [...]
Bank of England to hike interest rates twice, JP Morgan says

March 20, 2026

The Bank of England will hike interest rates at its next meeting in late April, JP Morgan has predicted, presenting a new threat to the security of the UK economy. JP Morgan economist Allan Monks has said that the Bank’s Monetary Policy Committee (MPC) will opt to raise interest rates at least twice this year. [...]
Reeves hit by spike in government borrowing

March 20, 2026

UK government borrowing rose by more than expected in February, it has been revealed, adding a strain on public finances as Chancellor Rachel Reeves faces trouble ahead with deciding the government’s response to the war in Iran. The Office for National Statistics (ONS) has said that the government borrowed £14bn, with economists having predicted the [...]
FTSE 100 Live: Gilt yields soar, Bank of England rate hike fears grow, Wetherspoon shares tumble

March 20, 2026

Good morning from the City AM liveblog team. Stocks made gains on Friday morning after a statement from Israeli leader Benjamin Netanyahu that he could see “this war ending a lot faster than people think” reassured markets that conflict in the Middle East could soon recede. The remarks follow further missile strikes by the US [...]

AI reduces founders’ need for capital, says Revolut Business

Leeds United investor buys majority stake in Spanish football club

Scotch whisky sales are falling, but what’s really behind the decline?

By: Mauricio Alencar

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