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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UK growth nearly stagnant in last quarter of 2024

March 28, 2025

The UK economy barely grew in the final quarter of 2024 as estimates remained unchanged, figures from the Office for National Statistics (ONS) said. Chancellor Rachel Reeves has vowed to deliver growth “further and faster”. But Reeves has faced a rocky start as GDP only grew by 0.1 per cent between October and December. Previous [...]
Retail sales beat expectations as Brits keep shopping

March 28, 2025

Retail sales volumes beat expectations in February as British shoppers seemed to loosen their spending habits, according to the Office for National Statistics (ONS). Retail sales rose one per cent month-on-month after rising 1.4 per cent in January. Markets had expected a decline of 0.3 per cent. Annual retail sales growth came in at 2.2 [...]
Employers still nervous as £20bn tax rise ‘hangs over like a fog’, survey says

March 28, 2025

Employers remain pessimistic about hiring new staff as businesses “hoped for more” from the Spring Statement, according to the Recruitment and Employment Confederation (REC). Chancellor Rachel Reeves‘ Spring Statement saw multi-billion pound spending commitments on defence and construction as she vowed to “kickstart economic growth”. But a new survey of more than 700 UK employers [...]
Reeves ‘lost gamble’ and is likely to raise taxes, IFS claims

March 27, 2025

Chancellor Rachel Reeves is “likely” to raise taxes at this year’s Autumn Budget, Institute for Fiscal Studies (IFS) director Paul Johnson has warned, as he claimed an extension to income tax thresholds would make for the “easiest political win”. Reeves’ announced her £40bn tax raid at the last Autumn Budget in October. The bulk of [...]
MPC member: Trump tariffs won’t push UK inflation higher

March 27, 2025

Interest rate-setter Swati Dhingra has suggested that President Donald Trump’s tariffs are unlikely to move UK inflation measures despite taking a toll on growth. The Bank of England held its interest rates at 4.5 per cent last week. External member Dhingra voted alone in favour of a cut in an 8-1 decision. Speaking at [...]
Spring Statement 2025: ‘Very small’ headroom risks getting erased again, OBR warns

March 26, 2025

Rachel Reeves faces the prospect of her newly-restored fiscal headroom being wiped out again ahead of the Autumn budget, raising the spectre of fresh take hikes in the future as she battles sluggish growth and economic headwinds. The Chancellor had previously left herself £9.9bn of headroom but the OBR calculated the UK was in fact [...]
Spring Statement 2025: OBR slashes growth forecast

March 26, 2025

The Office for Budget Responsibility (OBR) has slashed its growth forecast in half to one per cent as Chancellor Rachel Reeves said she was “not happy” about the revised figures. Reeves has insisted that high growth is key to Labour’s mission in government, while Prime Minister Keir Starmer has previously suggested that it is aiming for a rate [...]
Mid-sized firms ‘considering leaving UK’ as pressure on Reeves heats up

March 26, 2025

Around a third of mid-sized businesses are considering leaving the UK in the next two years, a new survey has suggested, as Chancellor Rachel Reeves faces intense pressure to make business-friendly announcements at the Spring Statement. The Treasury is set to unlock fresh funding for the construction sector with up to £600m to be spent [...]
UK inflation undershoots expectations in February

March 26, 2025

Inflation hit 2.8 per cent in the year to February, pointing to a fragile UK economy as Chancellor Rachel Reeves prepares to deliver her Spring Statement this afternoon. The Bank of England last week held interest rates at 4.5 per cent as inflation has remained high amid escalating trade tensions and incoming tax rises. Now [...]
Spring Statement 2025: What is it – and when will Rachel Reeves speak?

March 25, 2025

Chancellor Rachel Reeves is set to update MPs on the state of the UK economy and make a range of economic policy announcements on Wednesday afternoon at the Spring Statement. She is also set to give updates on the government’s plan to go “further and faster” on delivering growth. The Spring Statement will come as [...]

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By: Mauricio Alencar

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