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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Walls close in for Rachel Reeves as borrowing shoots up

March 21, 2025

Chancellor Rachel Reeves’s headroom is shrinking as government borrowing in February exceeded the Office for Budget Responsibility’s (OBR) prediction, new data showed. Reeves has insisted that financial prudence is key to the government’s economic agenda. But the latest data released by the Office for National Statistics (ONS) suggests she has less headroom than expected. The [...]
Bank of England holds interest rates amid low growth and trade tensions

March 20, 2025

The Bank of England has held interest rates at 4.5 per cent as worries over a global trade war flare up. Rate-setter Swati Dhingra, an external member on the Monetary Policy Committee (MPC), was the lone wolf who voted for a 25 basis point cut. The decision saw Catherine Mann split from Dhingra after the [...]
UK wage growth remains hot as Bank of England set to decide on interest rates

March 20, 2025

Wage growth has continued to soar, new figures have revealed. The Office for National Statistics (ONS) said that annual regular pay, excluding bonuses, grew 5.9 per cent between November 2024 and January 2025. Total pay growth, which includes bonuses, increased by 5.8 per cent. “Overall pay growth remains relatively strong, with pay growth high in [...]
Bullish Gen Z bucks consumer confidence trend

March 20, 2025

Gen Z’s plans to go big on spending in the next three months have contributed to a rise in consumer confidence, a new survey has suggested. Barclays last year predicted in November that people born between 1996 and 2010 would account for around 39 per cent of retail spending by 2030. Now a new survey [...]
London firms struggling to recruit staff as people want to WFH

March 20, 2025

Firms in London are struggling to recruit staff as over four in five businesses have vacancies, according to a new survey of 1,000 companies. Mayor Sadiq Khan recently announced plans to boost economic growth in the capital, but the latest survey by BusinessLDN suggests he may have a mountain to climb before he achieves his [...]
Jeremy Hunt: OBR ‘overly exaggerated’ Brexit impact

March 19, 2025

Former Chancellor Jeremy Hunt has criticised the Office of Budget Responsibility (OBR) for making “overly exaggerated” claims about Brexit’s impact on the economy. The OBR released a series of gloomy predictions in recent years claiming that Brexit had stifled growth and wrecked trade. But Hunt has claimed that leaving the European Union has in fact [...]
More than half of Brits are ‘reliant on the state’, think tank says

March 19, 2025

More than half of the UK population are reliant on the state for income, a leading think tank has said. Work and pensions secretary Liz Kendall on Tuesday announced a string of welfare reforms aimed at getting Brits back into the workforce. But the Adam Smith Institute (ASI) has suggested that the number of those [...]
Output gains show firms are ‘protecting their margins’, Lloyds growth survey says

March 19, 2025

Growth in a number of sectors shows that firms “are taking steps to protect their margins”, according to a survey of 1,300 companies. Rachel Reeves’s £20bn increase to national insurance contributions (NICs), which is set to come into effect in April, has left firms unsettled. But the latest Lloyds UK Sector Tracker has indicated companies [...]
Reeves needs to make ‘long overdue’ changes to spending, CBI says

March 19, 2025

Chancellor Rachel Reeves has been urged to make “long overdue” changes to government spending as the Confederation of British Industry (CBI) demanded greater investment in innovation. The Chancellor has previously said she is willing to “fight” for growth but leading economists have raised the alarm about an incoming recession. The CBI suggested that an economic [...]
SMEs delay investments as uncertainty leaves firms on edge

March 18, 2025

Small and medium-sized firms (SMEs) are delaying investment decisions, a new survey has found, as Chancellor Rachel Reeves’ Spring Statement threatens to stifle businesses. Uncertainty brought by an escalating global trade war and Reeves’ proposed reforms is making business leaders think twice about their appetite for investments in the short term. The latest survey of [...]

Nine in ten hospitality job switchers quit the sector

Alpine boss confirms four potential buyers, including Mercedes, for F1 team

Spirit of Speyside Whisky Festival to drive millions into Scotch sector

By: Mauricio Alencar

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