Lies, damned lies and statistics: Why we can’t trust numbers anymore December 17, 2024 If we are serious about reform and achieving economic growth, we must first ensure that our understanding of our country is underpinned by accurate statistics, says Ben Sweetman There are lies, damned lies and statistics, as the saying goes. But robust and reliable data is the foundation of good governance. If we are to have [...]
UK companies cut jobs at fastest rate in nearly 4 years December 16, 2024 The private sector cut jobs at the fastest rate for nearly 4 years in December as firms respond to new tax rules announced in the Budget. The latest S&P Global Flash UK Purchasing Managers’ Index (PMI) found that while the headline figure for business confidence was unchanged from November, thanks to a marginal increase in [...]
Bank of England set to hold interest rates after inflation jump December 16, 2024 The Bank of England is poised to leave interest rates on hold this week after inflation rose more than expected.
UK inflation expected to rise again in fresh blow to Labour December 16, 2024 Official data this week is expected to show inflation moved further away from the Bank of England's two per cent target in November, dealing another blow to the government after a contraction in GDP.
Growth is easier to destroy than to build December 16, 2024 Missions, milestones, foundations and pledges; Keir Starmer has unveiled them all since winning the election in July, but no amount of visionary rhetoric can compel an economy to grow. Since Labour’s election victory the British economy has whimpered to a halt. GDP flatlined in July and achieved a barely perceptible nudge up in August before contracting [...]
Housing market braces for the New Year rush December 16, 2024 The housing market is getting ready for a big Boxing Day bounce following a seasonal dip in house prices this month. New seller asking prices dropped by 1.7 per cent in December to £360,197, according to Rightmove, but ended the year 1.4 per cent above December last year. Activity remained substantially stronger than the same [...]
Payments regulator in Treasury crosshairs as firms revolt December 16, 2024 As the government hunts for ways to make Britain more competitive, the country's payments regulator has become caught in the crosshairs.
UK economy ‘at risk of stagflation’ as growth stalls under Labour December 13, 2024 Latest official GDP figures show the UK economy has stopped expanding since Labour took power, creating a headache for Keir Starmer after putting growth at the centre of his government’s mission. The economy unexpectedly shrank by 0.1 per cent in October, according to new data from the Office for National Statistics. It missed economists’ expectations [...]
UK economy on ‘recession watch’ after unexpected contraction December 13, 2024 The UK economy shrank unexpectedly in October after a fall in production output and stagnation in the services sector ahead of the Budget. GDP fell 0.1 per cent during the month, data from the Office for National Statistics (ONS) showed. Economists had expected a return to modest growth of 0.1 per cent. It marks two [...]
Labour’s business backers – where are they now? December 10, 2024 Labour won the public backing of over 120 business chiefs in a letter before the election – but the enthusiasm of those executives appears to have dimmed since then. City AM tried to track them down. It was a letter that seemed to signal a tectonic shift in British politics when it landed in newspapers [...]