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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Jeremy Hunt ‘made mistake’ in taxing non doms

June 27, 2025

Former Chancellor Jeremy Hunt was wrong to target non doms as part of efforts to raise more government revenue from tax, shadow business secretary Andrew Griffith has said. Hunt abolished a special tax status for non-domiciled residents in his last Budget, then raising £2.7bn, before Rachel Reeves went further by removing a carve-out that allowed [...]
City minister opens door to weakening banks ombudsman

June 26, 2025

City minister Emma Reynolds has suggested the government could remove powers from the banks ombudsman as part of efforts to ease regulatory burdens faces by financial services. Reynolds told an audience of bankers and investors that the end of a review on the Financial Ombudsman Service (FOS), which acts to settle complaints made by consumers [...]
Berenberg: Labour welfare row will lead to tax hikes and higher interest rates

June 26, 2025

Divisive party politics at the top of the Labour government stand to prevent the Bank of England from making further interest rate cuts, given struggles to curb spending, a leading City broker has warned. The government is embroiled in another row over spending cuts, as £4.8bn in welfare budget savings look set to be watered down following a [...]
Living standards warning: ‘the decade looks bleak’

June 26, 2025

British families will not see their income grow in the next five years while pensioners will be £1,500 better off, economic researchers have projected in a “bleak” analysis that cast a shadow over government plans to boost households’ budgets. Chancellor Reeves claimed at this year’s Spring Statement that Britons would be £500 better off each [...]
Shell denies BP takeover reports

June 25, 2025

Oil giant Shell has denied reports that it is engaged in talks to acquire rival BP. BP shares jumped by as much as eight per cent after reports of a potential deal came to light. But a Shell spokesperson has now dismissed rumours as “market speculation” and said “no talks are taking place”. Executives at [...]
Starmer calls for ‘moment to unite’ as Nato agrees defence pledge

June 25, 2025

Keir Starmer said the latest Nato summit represented a “moment to unite” as 32 member countries committed to ramp up spending on defence to 3.5 per cent by 2035, with a further 1.5 per cent allocated towards security and infrastructure. The Prime Minister said investment will go towards cyber security and protecting key infrastructure while [...]
Labour doubles down on welfare vote despite massive revolt

June 25, 2025

The Labour government has doubled down on holding a vote on its controversial welfare bill – worth £4.8bn in savings – as soon as next week, despite opposition from more than 130 of its own backbenchers. Angela Rayner told the House of Commons on Wednesday afternoon the government would press ahead with reforms to personal [...]
Trump to make state visit UK in September despite King’s concerns

June 25, 2025

US President Donald Trump is set to make a full state visit to the UK in September in a further sign of Prime Minister Starmer’s efforts to bring the two countries closer together. But King Charles preferred an initial informal visit that would represent a less eventful trip amid threats made to Canada’s sovereignty, according [...]
Graduate jobs at ‘weakest level since 2018’ as Reeves’ taxes rattle firms

June 25, 2025

Graduate jobs are now at their “weakest level since at least 2018”, fresh data has suggested, as Chancellor Reeves’ tax hikes on employers have made bosses avoid hiring junior workers. The UK government has made job creation a crucial part of its efforts to grow the economy and improve living standards for Brits after years [...]
Falling wage growth could usher interest rate cuts, Andrew Bailey suggests

June 24, 2025

Bank of England Governor Andrew Bailey suggested interest rate cuts would be warranted as pay growth was set to decline in the coming months.

Wimbledon property market drops ball ahead of Grand Slam

Brentford in talks to host Shakhtar Donetsk Champions League fixtures

New City venue rethinks competitive socialising… again

By: Mauricio Alencar

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