Lib Dems chase ‘blue wall’ voters by scrapping plan to raise income tax by 1p September 25, 2023 The Liberal Democrats have dropped their plans to raise income tax by 1p in a bid to woo Conservative voters in so-called blue wall seats during the cost of living crisis. Leader Sir Ed Davey told the BBC he ruled out tax rises even on the wealthiest as his party seeks to target former Tories [...]
Interest rates: no rise will be ‘welcome pause’ for banks September 25, 2023 The Bank of England's decision to leave interest rates on hold last week will come as a "welcome pause" to the UK's high street banks, analysts said.
Bank of England set to delay bringing in Basel overhaul of banking rules September 25, 2023 The Bank of England is planning to push back implementation of the final round of Basel reforms by six months after receiving a deluge of industry feedback.
UK growth set to slow as economy experiences ‘renewed signs of stress’, KPMG warns September 25, 2023 The UK economy will “struggle to keep its head above water” for the remainder of this year as it is experiencing “renewed signs of stress,” KPMG warned today.
Pound falls to six month low against dollar – and there’s worse to come September 22, 2023 Since mid July, when sterling was worth $1.31, the pound has steadily fallen against the dollar and was trading around $1.2260 today.
Bitcoin hash rate accelerating, and crypto is welcoming a change in the energy narrative September 22, 2023 Jason Deane takes the racing gloves off to get a finger on the pulse of the crypto industry over a week of contrasting narratives.
FTSE 100 close: London climbs on softer pound after Bank of England holds rates September 22, 2023 London's blue-chip FTSE 100 index rose on Friday as it benefited from the weak pound in the wake of the Bank of England's decision to hold interest rates steady.
‘Recession increasingly likely’ as business output drops sharply under weight of higher interest rates September 22, 2023 A steep downturn in services saw economic activity contract at its fastest pace since the financial crisis – outside of the pandemic – raising the chances of a recession, a closely watched survey suggested. S&P Global’s Purchasing Managers’ Index (PMI) for the UK economy came in at 46.8 – far below the 50 reading which [...]
Jeremy Hunt: Tax cuts ‘virtually impossible’ until economy improves September 22, 2023 Chancellor Jeremy Hunt has shot down suggestions of tax cuts after a string of economic updates this week, saying they’re “virtually impossible” until there’s more improvement. Speaking on LBC this morning, the chancellor responded to suggestions that falling inflation and rates being held yesterday, may give headroom to ease the burden on cash-strapped Brits this [...]
Consumer confidence continues to rise amid cost-of-living woes September 22, 2023 Consumer confidence is continuing to rise against a backdrop of falling inflation – but many households are continuing to struggle with cost-of-living pressures, according to a survey. GfK’s long-running Consumer Confidence Index increased four points in September, but remains at a subdued minus 21. Expectations for the UK’s wider economy over the next 12 months [...]