Reform UK’s fiscal plans could spark ‘Sterling crisis’, economist warns May 16, 2025 Reform UK deputy leader Richard Tice has hinted at ambitions to become chancellor if his party wins the next general election. What does this mean for the UK’s finances? Simon French, an economist at Panmure Liberum who has advised the government, estimates that Reform UK’s plans would leave the UK with an “immediate” fiscal gap [...]
Starmer seeks UK-EU ‘reset’ – is another Brexit row looming? May 16, 2025 Ongoing talks between the UK and the EU will come to a head at a summit in London on Monday, as the government seeks a post-Brexit “reset” of relations. The talks have come about as part of a routine five year review of the UK-EU trade and cooperation agreement, though they have taken on new [...]
City veteran Lord Rose ‘horrified’ by slow growth under Labour May 15, 2025 Former M&S boss and current Asda co-chief executive Stuart Rose has hit out at Labour’s lack of strategy aimed at boosting the economy, claiming he has been “horrified” by the UK’s lacklustre performance despite Chancellor Reeves’ pledges to deliver growth at a “faster” pace. Reeves said her £40bn tax raid at last year’s autumn budget [...]
Interest rate cuts would ‘boost growth’, businesses tell Bank of England May 15, 2025 Further interest rate cuts by the Bank of England would get consumers to spend more and boost the economy in the coming months, business leaders have said after UK GDP grew by 0.7 per cent in the first three months of the year. Economists at the Confederation of British Industry (CBI) and the Institute of [...]
World Test Championship: Prize money doubled for Lord’s final May 15, 2025 Australia or South Africa stand to win a record £2.7m in next month’s World Test Championship final at Lord’s after the International Cricket Council more than doubled prize money. The runners-up in the one-off match in north London on 11-15 June will bank £1.6m, which is more than the £1.2m the winners of the first [...]
Boost for Rachel Reeves as UK economy booms in first quarter May 15, 2025 The UK economy surged by 0.7 per cent in the first three months of the year, official data has shown, suggesting firms boosted production ahead of Rachel Reeves’s tax rises in April and the threat of President Donald Trump’s tariffs. Fresh data provided by the Office for National Statistics showed that the UK economy grew [...]
Secure Trust bolsters lending as it ‘monitors’ global turbulence May 15, 2025 Specialist lender Secure Trust Bank delivered an upbeat first-quarter trading statement on Thursday with growth across lending and deposits. The London-listed lender posted a 3.2 per cent quarterly increase in its net lending to £3.7bn. This was up 10.5 per cent from the first quarter of 2024. The firm said its business finance and consumer [...]
Picking the perfect wine for the City AM Awards May 14, 2025 The City AM awards was buzzing last week as titans of industry and charity, tech entrepreneurs, hospitality bigwigs and global leaders of finance stepped onto the red carpet and into the vaulted rooms of Guildhall. A band played as I swigged fizzing cold Crémant with the Naked Wines team before being gathered into the main [...]
Rank: Grosvenor casino owner hits jackpot as laws relaxed May 14, 2025 Rank Group – the owner of UK-based chain Grosvenor casinos – is set to ramp up the number of gaming machines in its casinos after the government said it would relax gambling laws. Shares in the group soared nearly eight per cent on Wednesday morning. The firm said the government’s review of the 2005 Gambling [...]
Employment levels slump as Reeves’ taxes bite May 13, 2025 Employment levels deteriorated in March, official data has suggested, in signs that Chancellor Rachel Reeves’ £20bn tax raid on employers has squeezed firms’ profits. Figures released by the Office for National Statistics (ONS) revealed that the number of payrolled employees fell by 53,000 over the first three months of the year. The early estimate of [...]