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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Former OBR chair takes aim at Rachel Reeves’ fiscal rules

January 13, 2026

The former chair of the Office for Budget Responsibility has taken aim at Chancellor Rachel Reeves’ fiscal rules, suggesting they prevent UK public finances from building enough “resilience”. In his first public appearance since his resignation last month due to the leaked Budget, Richard Hughes said the current fiscal rules were “among the loosest” the [...]
Trump tells Iranian people: ‘Help is on its way’

January 13, 2026

President Trump has threatened Iran’s autocratic leaders over the killing of protestors while suggesting he was preparing to intervene with military action in the country, In a post on Truth Social, Trump said the country’s authorities “will pay a big price” over the killing of protestors following unrest in the country. He added that he [...]
Vast majority of Brits expect more damaging tax hikes in 2026

January 13, 2026

Nearly four in five Brits are bracing themselves for further tax rises this year, with voters fearing that more money going into government coffers will damage growth. Keir Starmer has kicked off the year with pitches on improving the cost of living for millions of people across the country. Extra welfare payments for some families [...]
Chinese embassy to get green light despite ‘threat to City’

January 13, 2026

The new Chinese embassy in London is set to get the green light from Keir Starmer this week, according to reports, amid fresh questions around security concerns were raised on Monday night. The new mega embassy at the Royal Mint Court near the City of London is expected to get the Prime Minister’s sign-off ahead [...]
Public officials ‘not truthful’ about ‘fantasy’ net zero costs

January 13, 2026

Net zero is set to cost the UK economy billions of pounds more than public officials estimate, a new report has suggested, raising questions over the supposed savings to be made from the energy transition for households and businesses. A new paper published by the Institute of Economic Affairs, a free market think tank, has [...]
TfL to spend £100m a year on cleaning tubes amid graffiti spat

January 13, 2026

Commuters will foot an annual £100m bill for cleaning tubes and buses over the next five years, City AM can reveal, with transport officials hoping a new provider will help to wipe out graffiti across the network. Transport for London (TfL), which is chaired by Mayor Sadiq Khan, revealed it signed a contract with the [...]
Stride vows to protect OBR in new dividing line with Farage

January 12, 2026

Shadow Chancellor Mel Stride has vowed to protect the Office for Budget Responsibility (OBR) in any future Conservative government, drawing a dividing line with Reform’s Nigel Farage on approaches to controlling public finances. Stride is expected to re-establish the Conservative Party’s firm commitment to maintaining the fiscal watchdog as an independent body scoring the effects [...]
Nadhim Zahawi defects to Reform as polling lead extended

January 12, 2026

Former Chancellor Nadhim Zahawi has defected to Reform UK as fresh polling has shown the party extending its lead over Labour and the Tories. Zahawi, a former ally of Boris Johnson who served as Chancellor for a matter of months, announced his high-profile defection in a press conference in Westminster on Monday. Along with new [...]
No growth expected for November due to late Budget

January 12, 2026

New GDP figures this week will show zero growth in the UK economy as weeks of uncertainty around the Budget weighed down on activity in November, according to economists. A Bloomberg poll of economists predicted the Office for National Statistics (ONS) to write in zero GDP growth in the second last month of the year. [...]
Jobseeker numbers rise ‘sharply’ in labour market setback

January 12, 2026

The number of jobseekers rose “sharply” in December alongside a slump in demand for new hires, analysis has shown, posing a threat to the future of the UK labour market. Analysis of S&P Global’s purchasing managers’ index (PMI) indicated the jobs market weakened further at the end of last year, undermining hopes of a recovery [...]

Grant Thornton partners pocket £35m from private equity deal

Real Madrid break world record for sports team with £1bn revenue

Why the Bank of England museum is a one-of-a-kind

By: Mauricio Alencar

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