OBR hands Rachel Reeves first damning pre-Budget report on UK economy October 3, 2025 The Office for Budget Responsibility (OBR) has handed Chancellor Rachel Reeves its first evaluation of the state of the UK economy and crippled public finances, setting policy discussions about likely £30bn tax rises and possible savings in motion. The OBR’s Budget Responsibility Committee, which consists of the economists Richard Hughes, David Miles and Tom Josephs, [...]
Bosses’ inflation expectations highest in two years amid employment freeze October 2, 2025 Fears that inflation will remain well above the Bank of England’s two per cent target intensified on Thursday, after a closely watched survey of businesses revealed bosses plan to raise prices at their fastest rate since the height of the cost-of-living crisis. British businesses also have the weakest hiring intentions since 2020 with firms expecting [...]
Explainer: Why are energy prices so high? October 2, 2025 Energy prices for consumers across the UK rose again this month. Ofgem, the energy regulator, set the maximum annual rate for an average household for gas and electricity at £1,755 until the end of the year. The cap is now over £600 higher than when it was first introduced in 2019. Under the cap, [...]
Tesco boss warns Reeves that ‘enough’s enough’ ahead of Budget October 2, 2025 Tesco boss Ken Murphy has warned Rachel Reeves that business will struggle to absorb more costs as fears rise of another tax raid in this Budget. UK retailers were hit by higher labour costs after an increase in the minimum wage and employer’s national insurance costs this April, after changes made at last October’s budget [...]
Wagamama owner sheds 2,000 jobs as losses widen October 2, 2025 The owner of Wagamama shed more than 2,000 jobs as its losses widened during its latest financial year, it has been revealed. The Restaurant Group, whose other major brand is Brunning & Price, has posted a pre-tax loss of £32.2m for 2024, new accounts filed with Companies House show. The total comes after the business [...]
Bank of England’s Mann calls for sustained interest rate hold October 1, 2025 The Bank of England’s Catherine Mann has called for interest rates to be held where they are for longer before making a larger cut to revive the sluggish growth outlook, citing a recent spike in consumer inflation expectations as evidence price rises were embedding into the economy. The external Monetary Policy Committee (MPC) member known [...]
Selfridges: Losses slashed despite revenue hit October 1, 2025 Losses at luxury department store chain Selfridges have been slashed during its latest financial year despite its revenue taking a hit. The business, which has UK stores in London, Birmingham and two in Manchester, has posted a pre-tax loss of almost £16m for the 48 weeks to 4 January, 2025. The latest figure comes after Selfridges’ [...]
The Real Housewives show even the rich are poor in London October 1, 2025 The Real Housewives of London show even the super-rich aren't immune to all consequences of the housing crisis, writes Anna Moloney.
‘Packaging tax’ to force further price rises October 1, 2025 UK businesses will be forced to pass the vast majority of costs incurred by a new packaging tax onto consumers, in a move that will stoke already rampant food inflation and compound financial pressures on hard-pressed households. According to fresh figures from the British Retail Consortium (BRC), retailers plan to pass over 80 per cent [...]
Bank of England’s Breeden says inflation ‘hump’ is transitory September 30, 2025 The Bank of England’s deputy governor has warned keeping interest rates too high could drag inflation below the Bank’s two per cent target in comments that further exposed the divergence that exists among central bank officials over the long-term path of inflation. In a dovish speech delivered at Cardiff Business School, financial stability deputy chief [...]