Finance bosses optimistic about Labour plans to cut red tape December 30, 2024 A KPMG survey found seven in 10 financial services bosses think the policies will help attract foreign investment into the sector.
UK economy flatlined last quarter revised figures reveal December 23, 2024 The latest revised figures from the Office for National Statistics have revealed the UK economy did not grow in the third quarter of this year. The statistics watchdog had previously said the economy grew 0.1 per cent in the third quarter. However, according to the latest figures, the economy flatlined, leaving the UK with no [...]
Housing sales end year on a high but fears about mortgage rates linger December 23, 2024 The London housing market has ended 2024 on a high, although buyers remain price-sensitive and concerned about the cost of mortgages. Over 280,000 homes worth £104bn are in the sales pipeline for 2025 – the highest number in four years, according to Zoopla. In another good sign, house prices returned to growth – up 1.9 [...]
Harry Potter’s wizarding world is an authoritarian dystopia December 23, 2024 Secret police, slavery and mass indoctrination of children – Harry Potter’s wizarding world is a greatest hits of repressive regimes, says Sam Fowles Here’s a fun Christmas party game: name your favourite fictional authoritarian state. Is it George Orwell’s “Airstrip 1”? Margaret Atwood’s New England? Or perhaps (whisper it) JK Rowling’s “wizarding world”? It’s better [...]
Bank of England governor to visit China with Chancellor December 21, 2024 Bank of England Governor Andrew Bailey will accompany Chancellor Rachel Reeves to China next month, Sky News said on Saturday, a visit intended to revive high-level economic and financial talks that have been frozen since 2019. Sky News said Bailey was expected to hold talks with Pan Gongsheng, the governor of the People’s Bank of [...]
FTSE 100 logs worst week in more than a year December 21, 2024 The FTSE 100 touched a more than one-month low on Friday and logged its sharpest drop since October 2023 for a week filled with a raft of central bank policy decisions. The FTSE 100 dropped 0.3 per cent, hitting its lowest since 13 November, though the mid-cap FTSE 250 was up 0.3 per cent, after [...]
Nigel Farage ‘hasn’t got a clue’ how to fix the economy, says Rachel Reeves December 21, 2024 Nigel Farage “hasn’t got a clue” how to grow the economy or make people’s lives better, Rachel Reeves has claimed. The Chancellor also urged the public to be patient with her plans to turn around the economy in an interview with the Guardian. As the public’s view of Labour falters, and Reform makes gains in [...]
UK retail sales rise slightly in November amid concern over golden quarter December 20, 2024 The latest ONS data showed retail sales jumped 0.2 per cent last month, following a 0.7 per cent fall in October.
Bank of England may be forced to prioritise growth in 2025 December 19, 2024 Despite inflation continuing to be a headache for the Bank of England, leading it to hold interest rates today, the central bank may end up being forced to make more cuts than it would like in 2025 to salvage the UK economy. While today’s decision from Andrew Bailey’s Monetary Policy Committee to hold rates had [...]
Bank of England holds interest rates and downgrades growth forecasts December 19, 2024 The Bank of England held interest rates at 4.75 per cent today, while downgrading economic forecasts for the UK towards stagnant growth. Only six members of the Bank’s Monetary Policy Committee voted to keep interest rates steady, less than had been expected, as three voted to cut rates by 0.25 per cent citing fears over [...]