UK employers cut jobs as tax hikes bite April 15, 2025 High wage growth persisted in the three months to February, official data has shown, but a rapid drop in payrolled employment pointed to concerning trends in the labour market. Annual growth in average weekly earnings excluding bonuses hit 5.9 per cent, the Office for National Statistics (ONS) said on Tuesday. But separate tax data showed [...]
UK house prices hit record high in April despite stamp duty changes April 14, 2025 The average UK house price rose 1.4 per cent in April despite fears of a market slowdown in the wake of changes to stamp duty. UK house prices hit a new record high of £377,182, according to Rightmove. Analysts said that lower mortgage rates have offset the impact of stamp duty changes and the typical [...]
Sick Boat Race rowers remind us why we must be tough on water companies April 13, 2025 Sick Boat Race rowers are the tip of the iceberg. Failing water companies are polluting the Thames and it's time for action, says water minister Emma Hardy.
Trump, tariffs and GDP: How do you forecast uncertainty? April 12, 2025 The Office for Budget Responsibility (OBR), one of the UK’s central forecasters, prepared itself for President Trump’s tariff war – or at least partially. At a presentation after Chancellor Reeves’ Spring Statement, OBR chair Richard Hughes admitted the fiscal watchdog’s central forecast risked being completely undermined by global events. Hughes came up with three possible [...]
UK growth in February smashes low expectations April 11, 2025 The UK economy grew by 0.5 per cent in February, official data has shown, beating forecasters’ expectations by a wide margin. A Bloomberg poll of economists predicted growth to come in at 0.1 per cent for the month. UK GDP grew 0.6 per cent in the three months to February, the Office for National Statistics [...]
Consumer confidence flattens as recovery stalls despite wage growth April 11, 2025 Consumer confidence was flat in the first quarter of the year despite high wage growth, as economic uncertainty weighs on Brits. Overall consumer confidence rose 0.3 percentage points in the first three months of 2025, with sentiment towards the UK economy at its lowest level in over a year, according to Deloitte. “The consumer recovery [...]
Bank of England’s postponement of bond sale is a ‘precaution’ April 10, 2025 The Bank of England’s decision to postpone the sale of long-dated bonds to after June following market volatility was a “precaution”, according to deputy governor Sarah Breeden. President Donald Trump’s tariffs sent markets around the world into a state of panic as 30-year gilt yields surged to its highest level since 1998, pushing up borrowing [...]
Bank of England should be ‘more careful’ about rate cuts, say deputy governor April 10, 2025 A Bank of England rate-setter has said that policymakers need to be “more careful” about cutting rates after years of high inflation, adding that it was “too soon to say” whether President Trump’s tariffs will weigh on price growth in the UK. Sarah Breeden became the second official since Trump’s Rose Garden speech to take [...]
Stats body aims to publish key jobs data in late 2026 April 10, 2025 The UK’s official statistics body has set a target of November 2026 for the reform of its flagship Labour Force Survey (LFS), which monitors the UK jobs market. The Office for National Statistics (ONS) has been dogged by several troubles in data gathering, prompting criticism from the Bank of England as well as an intervention [...]
Exclusive: Former Bank of England policymaker calls for interest rates to be held amid high inflation April 10, 2025 A former Bank of England rate-setter has suggested that high inflation levels call for interest rates to be held at 4.5 per cent in May. The majority of investors and analysts are expecting the Bank to cut interest rates next month to ease low growth concerns, with up to three more cuts priced in until [...]