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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Burnham’s cost of living push under threat as oil hits $100

July 23, 2026

The benchmark oil price has hit $100 per barrel amid a re-escalation of war in the Middle East, undermining Andy Burnham’s cost of living drive. Brent crude oil prices inched past the $100 milestone on Thursday afternoon following attacks by the Houthis, an Iran-backed militia based in Yemen, on two Saudi Arabian tankers. The recent [...]
Healey: Squeezed businesses also need ‘breathing space’

July 23, 2026

Chancellor John Healey has said he is “just as concerned” by costs facing businesses as those facing households, adding that bosses also required “breathing space” to manage burdens from energy, labour and supply chains. Echoing Andy Burnham’s pledge to provide “breathing space” on the cost of living, Healey said he would aim to ease cost [...]
‘Businesses are not cash machines’ – Badenoch calls on Burnham to rule out tax rises

July 23, 2026

Kemi Badenoch has called on Andy Burnham to rule out tax rises as the new Prime Minister has made a series of small unfunded promises. The Tory leader said Burnham seemed “like a nice guy” and had a “sense of humour” yet she ridiculed the Prime Minister’s early flurry of policies. In her speech overlooking [...]
‘Door is open’ to interest rate hike as inflation fears return

July 23, 2026

An interest rate hike by the Bank of England this year is back on the cards as fears of continued oil and gas trade disruption across the Strait of Hormuz could push inflation higher, according to City economists. A spike in oil prices to levels seen during the Iran war has dampened the mood across [...]
Nearly 1m people to pay higher tax ‘by stealth’

July 22, 2026

Nearly one million people are being dragged into higher tax bands as the government’s “stealth” freezes take effect, according to new analysis. Data crunched by the Taxpayers’ Alliance has shown that fiscal drag – where freezes on tax bands mean workers are forced to pay more into HMRC as wages grow – will impact 1m [...]
Lucy Rigby back as City minister

July 22, 2026

Lucy Rigby has been demoted to City minister after a stint as the chief secretary to the Treasury. Rigby, who previously served in the role under Keir Starmer, was moved from her cabinet role by Burnham and will now return to the dual brief of economic secretary to the Treasury and City minister. The former [...]
‘False dawn’: June inflation falls to 2.6 per cent but analysts say rises ahead

July 22, 2026

Inflation remained stuck above the Bank of England’s target rate despite government promises to tackle the cost of living. The Office for National Statistics said consumer price index (CPI) inflation was 2.6 per cent in the year to June. Analysts predicted the price growth reading to be 2.7 per cent, lower than the 2.8 per [...]
Healey challenges Cabinet to find cuts

July 21, 2026

Chancellor John Healey has challenged Cabinet ministers to find savings in budgets hours after Andy Burnham was criticised for making an “unfunded” tax cut. In the first meeting between Cabinet ministers under Burnham’s government, Healey urged ministers to “look harder” at spending priorities across departments. Burnham also urged ministers to consider “how we are going [...]
Babcock and Rolls-Royce stocks rally after Healey appointment

July 21, 2026

Defence stocks including Rolls-Royce have stormed to new highs as investors added to bets that the new Chancellor John Healey would plough further cash into London-listed arms companies. Defence supply giants Babcock and BAE Systems were among the biggest risers when markets opened on Tuesday, some 12 hours after former defence secretary Healey was appointed [...]
Warning for John Healey as key fiscal target missed

July 21, 2026

A key fiscal target has been missed on John Healey’s first morning as Chancellor, in a reminder of the poor state of public finances. Official data on Tuesday showed that the current budget deficit, which is critical to the current fiscal rules, surpassed forecasts set by the Office for Budget Responsibility (OBR). The Office for [...]

Tour de France Femmes: World famous cycling race plunged into bra row

Tour de France Femmes: World famous cycling race plunged into bra row

Vauxhall Mokka GSE review: on-track in the most surprising car of 2026

By: Mauricio Alencar

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