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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Healey’s ‘mixed messages’ on bank tax leave City blindsided

October 16, 2026

The City was left reeling on Friday following reports that John Healey was drawing up plans to tax banks in the forthcoming Budget. Industry heavyweights across the UK have fired warning shots as Healey weighs up different options to target the banking industry with a hefty cash raid. One City figure told City AM a [...]
IMF boss warns on AI ‘tax erosion’ if jobs are wiped out

October 15, 2026

The head of the International Monetary Fund has warned financial ministers that widespread AI adoption could erode tax bases across the world as incomes are squeezed by the technology. Kristalina Georgieva, the managing director of the IMF, said governments may be ill-prepared for a potential slump in tax revenue brought on by AI’s impact on [...]
Robert Jenrick hits out at Deloitte and KPMG over job cuts

October 15, 2026

Reform UK’s Robert Jenrick has criticised Big Four giants Deloitte and KPMG for laying off British staff, alleging they did so while “importing thousands of migrant workers”. In his latest video post, standing outside Deloitte’s London HQ, the MP said Deloitte “laid off 800 UK staff” but that “over the last five years, they have [...]
Culture secretary Lisa Nandy ‘minded to intervene’ in Sky takeover of ITV

October 15, 2026

Culture secretary Lisa Nandy is “minded to intervene” in Sky’s proposed £1.6bn takeover of ITV’s media and entertainment arm. In a statement to MPs, she said: “Having considered the anticipated merger, I am of the view that there are reasonable grounds to believe that it might affect availability of a wide range of high-quality and [...]
Healey promises Budget will ‘meet the moment’

October 15, 2026

Chancellor John Healey has promised that the Budget will “meet the moment” as rising costs are set to hamper households and businesses over the next few months. In interviews in Bangkok for the International Monetary Fund’s meetings, Healey said he had acted from “week one” to relieve pressures facing businesses and households with a blitz [...]
UK economy slows yet beats expectations

October 15, 2026

The UK economy slowed in August but beat market expectations after a boost in the production sector, according to official statistics. GDP expanded by 0.1 per cent in August following several months of high growth. A poll of economists by Bloomberg predicted that the UK economy had contracted by 0.1 per cent in August. Figures [...]
Healey told to cut employment taxes and energy bills to boost business

October 15, 2026

Britain’s biggest business lobby group has urged John Healey to cut employment taxes and energy bills in his first Budget, warning that further tax rises risk choking off investment and jobs. The Confederation of British Industry (CBI) called on the Chancellor to give firms “breathing space” at the Budget on 28 October, as businesses grapple [...]
Benefits and pensions for foreign nationals ‘cost £23bn’

October 14, 2026

Spending on benefits and pensions for foreign nationals totalled about £23bn in 2025, according to a leading think tank, amid calls for a rethink on the impcat of immigration and the welfare system. The Centre for Social Justice estimated that the UK government spent about £23bn on benefits, pensions and child-related support for non-British nationals [...]
Business feels ‘beaten up’, Burnham ally says

October 14, 2026

Lord Jim O’Neill, one of Andy Burnham’s closest allies, has warned businesses feel “beaten up” by government as he urged the Prime Minister to spare British companies from another punishing raid at the Budget. Speaking to a group of MPs at the Treasury Select Committee, O’Neill doubled down on his opposition to capital gains tax [...]
Burnham complains Jackdaw and Rosebank approval delayed by ‘government process’

October 14, 2026

Approval for more oil and gas drilling at the North Sea sites Jackdaw and Rosebank have been delayed by “government process” and lengthy bureaucratic wrangling, Prime Minister Andy Burnham has said. Burnham told MPs that he would take a “pragmatic approach” on oil and gas drilling amid calls from energy bosses for drilling to go [...]

Nandy flags downsides of closer EU relations

Women’s football doesn’t need to become men’s football to succeed

The Capitalist: City AM reporter gets royal trashing by AI slop

By: Maurício Alencar

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