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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Labour selects Burnham and Reform UK picks plumber for by-election battle

May 19, 2026

Both Labour and Reform UK have announced their candidates for the upcoming by-election in Makerfield, with the Manchester mayor set to go up against a plumber who narrowly lost in 2024. The Labour Party announced that local members accepted Burnham as its candidate, hours after the so-called ‘King in the North’ published a campaign video [...]
OBR chiefs warn jostling Labour MPs against fiscal rules change

May 19, 2026

Office for Budget Responsibility chiefs have warned Labour activists against changing the fiscal rules and overall framework to account for longer term impacts of government investment. The OBR’s David Miles and Tom Josephs said a ten-year forecast horizon would make for a “less credible” economic report and may not have any impact on bond investors. [...]
Unemployment back up as UK job vacancies fall

May 19, 2026

Unemployment crept back up despite a fall in last month’s data as it was shown that the UK jobs market weakened in the last quarter. The Office for National Statistics said the UK unemployment rate was five per cent in the three months to March 2026. The unemployment rate had dropped to 4.9 per cent [...]
As it happened: Choppy finish for FTSE 100 as global markets rocked by AI sell-off

May 19, 2026

Welcome back to the City AM liveblog. Businesses have raised the alarm over falling vacancies as new data showed a further weakening in the jobs market. Vacancies remained at a five-year low in April 2026, with a leading industry group saying recruiters were “pausing” plans to hire workers. The British Chambers of Commerce’s head of [...]
Mel Stride: Markets have issued ‘damning verdict’ on Labour

May 18, 2026

Shadow chancellor Sir Mel Stride is set to claim that markets have issued the Labour government a “damning verdict” after continual leadership speculation and tax rises, warning that taxpayers will be left on the hook. In a speech at the Centre for Policy Studies, Stride will argue that investors have taken an ill-view of the [...]
Burnham calls for UK to abandon ‘40 years of neoliberalism’

May 18, 2026

Labour leadership hopeful Andy Burnham has called for the UK to abandon “40 years of neoliberalism” as he claimed that Westminster politics had failed northern communities. In what is being widely interpreted as Burnham’s Labour leadership launch speech, he said that the upcoming by-election in Makerfield was a chance for a “much bigger debate about [...]
IMF tells Reeves to drop triple lock pension and make ‘fundamental’ tax reform

May 18, 2026

The UN’s global financial fund has called on Chancellor Rachel Reeves to drop the triple lock pension and draw up “contingency” tax measures to ensure that public debt is reduced as a share of GDP. The International Monetary Fund has said that there are “risks” around spending forecasts and tax receipts, criticising the Chancellor for [...]
Manchesterism? This is what an Andy Burnham government would look like

May 18, 2026

As the Manchester mayor starts out on his high-risk path towards becoming Prime Minister, Maurício Alencar sketches out what an Andy Burnham government would look like – and how the markets would react. Andy Burnham will have to jump over many hurdles in his almighty quest to get to Downing Street. If he makes it, [...]
From pensions to healthcare: UK state spending on old age surges

May 18, 2026

Government spending on the elderly has dramatically increased the size of the state, analysis by the official statistics body has shown. Fresh research by the Office for National Statistics has suggested a steady rise in spending on health and old age has contributed to a rise in government consumption as a share of GDP. In [...]
UK property taxes are highest in world – and they’re rising

May 18, 2026

The UK has the highest level of property taxes of any major economy in the world as a share of the economy, according to new analysis, with new business reforms only set to add to the load. The global tax firm Ryan said the UK suffered a heavier property tax burden than the likes of [...]

Elon Musk becomes world’s first trillionaire after SpaceX mega float

Adidas, Burberry and so much Beckham: The six best 2026 World Cup ad campaigns

The best places to eat sandwiches in Lisbon, from bifanas to pregos

By: Mauricio Alencar

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