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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Inheritance tax receipts soar to all-time high

April 23, 2026

Inheritance tax receipts soared to a record high over the last financial year as Labour’s targeting of property owners helped fund sweeping spending increases. Official data on Thursday morning showed that annual inheritance tax receipts rose to £8.5bn in the year between 2025 and 2026. This compared to total receipts of £8.3bn in the previous [...]
The tax effect: Reeves borrowed less than OBR forecast

April 23, 2026

Chancellor Rachel Reeves oversaw lower government borrowing than the Office for Budget Responsibility forecast in the financial year 2024 to 2025, it has been revealed, pointing to the effect sweeping tax hikes have had in narrowing the deficit. The Office for National Statistics has shown that government borrowing over the last financial year was £132bn [...]
London local elections 2026: Who will win?

April 23, 2026

Political turmoil in Westminster and voter anxiety across a range of issues could see the political map of London redrawn after the upcoming local elections. Felix Armstrong, Mauricio Alencar, Matt Kenyon, Samuel Norman, Saskia Koopman and Simon Hunt preview how residents in each of the capital’s 32 boroughs could vote on May 7. The Greens [...]
UK workers suffer bigger tax hikes than any leading economy after Reeves’ raid

April 22, 2026

Taxes on wages in the UK rose at a faster pace than any country tracked by the OECD as Chancellor Rachel Reeves’ measures have squeezed people’s incomes. A new report by the OECD – the Organisation for Economic Co-operation and Development – has found that taxes in the UK for single workers jumped higher than [...]
Peer pressure: Starmer admits former aide was considered for diplomatic role

April 22, 2026

Sir Keir Starmer has admitted that he considered appointing Lord Matthew Doyle for an ambassadorial role without the foreign secretary knowing, amid growing questions over the Prime Minister’s judgment in key decisions. The Prime Minister appeared to accept that Doyle, who recently had the Labour whip removed following revelations about his relationship with a sex [...]
Tube strikes could cost London up to £760m this year

April 22, 2026

Tube strikes planned until June could cost London’s economy up to £760m altogether, analysis provided to City AM has estimated. Lost working days due to uncertainty over the terms of 24-hour strikes is set to lead to hundreds of millions of pounds in lost income, economists have said. The Centre for Economics and Business Research [...]
War propels UK inflation in new risk for interest rate hikes

April 22, 2026

Inflation sped up in March, official data has revealed, giving the Bank of England’s Monetary Policy Committee a headache as policymakers mull over whether to raise interest rates. Inflation jumped to 3.3 per cent last month as President Trump and Prime Minister Netanyahu’s war on Iran led to critical trade disruption across the Strait of [...]
Robbins: Starmer’s team was ‘dismissive’ about Mandelson vetting

April 21, 2026

Former Foreign Office permanent secretary Sir Olly Robbins has criticised Number 10’s “dismissive attitude” to security vetting for Lord Peter Mandelson, who accessed classified files before Robbins, who was recently sacked from his key civil service post, told the Foreign Affairs Committee that there was “constant pressure” on the Foreign Office to give Mandelson clearance [...]
Job vacancies fall to lowest level in five years

April 21, 2026

The UK jobs market took a turn for the worst as job vacancies fell to their lowest level in nearly five years, according to official figures. The Office for National Statistics (ONS) said the number of vacancies fell by an estimate of 29,000 in the three months to March. It is the lowest level of [...]
‘It beggars belief’: Starmer insists he was not told about Mandelson’s vetting fail

April 20, 2026

Sir Keir Starmer has insisted he was not told that Lord Peter Mandelson failed a security vetting before telling MPs that “due process” around his appointment as US ambassador was followed. Starmer told MPs on Monday that he asked Whitehall officials to review whether due process was followed last September on whether the security vetting [...]

FTSE 100 Live: Stocks to drop as interest rate hike fears hit City

Formula 1 chiefs cool speculation of 12th team on grid

Two of my favourite hotels for celebrating English wine

By: Maurício Alencar

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