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 GDP growth expected to slide after Awful April

June 10, 2025

The UK economy is expected to have contracted in April as the double whammy of tax hikes and higher energy prices help reverse the 0.7 per cent growth gains seen in the first three months of the year. A Bloomberg poll of economists said City analysts are pencilling in a 0.1 per cent reduction to [...]
Winter fuel U-turn could lead to ‘unfair’ and ‘complex’ tax system

June 9, 2025

Treasury calculations on savings made from a means-tested winter fuel payment for nine million pensioners may be significantly reduced due to a “new complexity in the tax system”, an economics think tank has warned. The government has claimed that £1.25bn budgeting for winter fuel payments represents a cost reduction of up to £450m compared to [...]
Slower April wage growth to feed into interest rate cut hopes

June 9, 2025

An expected drop in wage growth in April compared to the previous month could encourage Bank of England officials to vote for further interest rate cuts this year, leading analysts have suggested. Labour market data for April, which is due to be published on Tuesday morning, is set to reveal wage growth has cooled while [...]
Voters fear Reeves tax U-turn after Spending Review splash out

June 9, 2025

UK voters are worried Chancellor Rachel Reeves will betray Labour manifesto pledges not to hike income tax, a new poll has suggested, as the government looks set to ramp up investment at Wednesday’s spending review. Sir Keir Starmer has declared that the government cannot “tax [its] way to growth” while ministers have said the spending [...]
Winter fuel payments to return for 9m pensioners in £1.3bn Labour u-turn

June 9, 2025

The winter fuel payment will be handed out to 9m pensioners whose income falls below £35,000 a year, the Treasury has revealed, in a £1.25bn blow to Chancellor Rachel Reeves’ chances of keeping her £9.9bn headroom intact.
London suffering from UK economic malaise, NatWest data suggests

June 9, 2025

Businesses in London saw output decline for the second consecutive month in NatWest’s growth tracker – yet there is some optimism that the capital’s economy could resurge. Firms widely reported Chancellor Reeves’ tax hikes and a rise in energy bills, which kicked into effect in what has been dubbed ‘Awful April’, contributed to a decline [...]
Klarna boss: AI will lead to recession and mass job losses

June 7, 2025

The introduction of AI at firms could lead to a recession due to mass job losses of professionals, Klarna’s chief executive has warned. The use of AI to make work more efficient has been encouraged by leading figures, including the government itself which said it could save civil servants two weeks a year. But fintech [...]
ECB cuts interest rates as UK ‘hesitation’ risks dealmaking strength

June 5, 2025

Interest rates in the eurozone have been cut, taking the deposit facility rate to two per cent as fresh data suggested inflation came in just under the European Central Bank (ECB)’s two per cent target rate in May. The cut means the ECB’s rate now stands at two per cent, a halving of rates set two [...]
ONS blames government figures after revealing April inflation error

June 5, 2025

There was renewed scrutiny over the credibility of figures produced by the Office for National Statistics (ONS) after the government body admitted an error in its inflation calculations for April. According to the ONS, the issue arose after the government overstated the number of vehicles subject to the vehicle excise duty. The UK stats body [...]
End net zero levies raising energy bills, CBI boss to demand

June 5, 2025

Net zero costs which push up energy prices and “anchor” businesses’ ambitions to grow must end, the boss of the Confederation of British Industry (CBI) will tell government officials at an event in London on Thursday evening. Rain Newton-Smith, the chief executive of the Confederation of British Industry (CBI), is set to urge the Treasury [...]

Pressure shifts back to Big Tech as Ofcom delays social media ban

Horse racing came together to fight tax hikes. Now it must unite again

Spirit of Speyside Whisky Festival to drive millions into Scotch sector

By: Mauricio Alencar

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