UK growth forecast upgraded by IMF, but 2027 slowdown looms
Energy bills and council tax increases add to household cost pressures The International Monetary Fund (IMF) expects the UK economy to expand by 1.3% in 2026, revising its earlier prediction upwards. However, it anticipates a tougher year ahead, with expensive energy and higher interest rates likely to slow growth in 2027. The global economy has […]
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Bank of England holds rates as inflation hits six-month high
The energy shock could send UK inflation even higher Inflation has picked up again, putting the Bank of England in a difficult position as energy prices continue to rise. The latest figures show the Consumer Prices Index reached 3.1% in August, up from 2.9% in July. Petrol, diesel and air fares were among the biggest […]
3 weeks ago
Farage’s Reform blueprint calls for major tax cuts for the UK’s richest
Reform’s economic blueprint could cost the Treasury billions A think tank helping shape Reform UK’s economic agenda is preparing to publish a major blueprint focused on cutting taxes, reducing financial regulation and reshaping how the government approaches economic growth. The Centre for a Better Britain is expected to call for inheritance tax to be scrapped […]
3 weeks ago
Pension triple lock ‘will be axed’, thinktank IFS says
The triple lock could cost the government billions more The state pension could be heading for a major change, with a leading thinktank warning that the government is unlikely to be able to keep the triple lock indefinitely. The Institute for Fiscal Studies says the policy is becoming too expensive and unpredictable to maintain over […]
1 month ago
UK borrowing hit £1.8bn in July as national debt nears £3 trillion
July delivers another dose of bad news for Healey The Government’s finances took another hit in July, with £1.8bn borrowed during the month, leaving the figure well above what had been expected and adding to the pressure on Chancellor John Healey before his first Budget. According to the BBC report, figures from the Office for […]
1 month ago
Job vacancies fall to five-year low as small firms rein in hiring
The jobs market has taken another hit Job vacancies in the UK have fallen to their lowest level in more than five years, with official figures putting the total at 707,000 across the May-to-July period. The Office for National Statistics said smaller businesses were scaling back recruitment, citing labour and operating costs. Firms have pointed […]
1 month ago