OBR: UK is already in recession and taxes on course for post World War II high November 17, 2022 The UK is already in a recession that will burn a huge hole in the public finances, forcing the government to hike taxes to their highest level since just after the Second World War in the 1940s, the country’s fiscal watchdog warned today in forecasts published alongside Jeremy Hunt’s autumn statement. The Office for Budget [...]
GPE injects £1.1bn into ‘starved’ London office market despite sinking values November 17, 2022 GPE, formerly known as Great Portland Estates, is continuing to inject £1.1bn into feeding a “starved” central London office market despite blows from rising interest rates. The London-listed firm, which yesterday secured a record leasing of the City’s 2 Aldermanbury Square to Clifford Chance, is one of the largest office leasers in the capital. However, [...]
As it happened and live reaction: Jeremy Hunt’s Autumn Budget 2022: UK is now in recession November 17, 2022 Welcome to City A.M.’s live updates as the Chancellor of the Exchequer, Jeremy Hunt, delivers the government’s Autumn Budget for 2022. Here the news team will bring you all the key points, policy changes, opinion, analysis, responses from experts, industry reaction and more. Get in touch and let us know your views via news@cityam.com or [...]
All eyes on UK Autumn Budget as Sunak’s government goes Hunt-ing for cash November 17, 2022 Markets’ main focus today will be on Westminster and Chancellor of the Exchequer Jeremy Hunt as he delivers the long-anticipated Autumn Statement. Over the past few weeks, Brits heard an array of estimates of the size of the fiscal black hole at the heart of the public finances, ranging from £40bn to £55bn. “However, this [...]
The taxman cometh: Hunt to deliver toughest Budget in years today November 17, 2022 Jeremy Hunt will launch a vicious round of tax hikes and spending cuts today as he vows to “deliver strong public finances”. The chancellor tonight said “families across Britain make sacrifices every day to live within their means” and that “so too must governments” as he prepared to lay the ground for a second round [...]
More retailer woes send London’s FTSE 100 lower November 16, 2022 Another bad day for middle-class favourite and online supermarket Ocado led London’s FTSE 100 lower today. The capital’s premier index dropped 0.25 per cent to 7,351.19 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, tumbled 1.77 per cent to 19,112.40 points. Fresh inflation figures [...]
UK assets in focus this week November 16, 2022 This week’s focus in markets apart from the US’s weak inflation print last week is on Sterling and the FTSE in the wake of a raft of economic data points, as well as the new Chancellor Jeremy Hunt’s Autumn statement on Thursday the 17th. UK inflation this morning came in at a level not seen [...]
UK inflation scales to 41-year high, but analysts bet it has peaked at 11.1 per cent November 16, 2022 UK inflation has surged above the City and Bank of England’s expectations to reach a new 41 year high, but experts said it may now have peaked, official figures revealed today. Prices rose 11.1 per cent over the last year, pushing the rate a whole percentage point higher from September, according to the Office for [...]
Digital Assets Week: A ‘DAW’ to the future November 16, 2022 Lord Holmes reports on an opportunity to share the current approaches being undertaken by the UK Government on crypto regulation.
Hunt says council tax hikes coming in Thursday’s fiscal statement November 15, 2022 Jeremy Hunt has said he will hike council tax on Thursday, with the increase set to help pay for social care. The chancellor told MPs today that he will “be asking people who have more, to contribute even more” and that this “will be reflected in our decisions on council tax”. Thursday’s statement will have [...]