UK Economy
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What if Britain has, almost entirely by accident, navigated itself into about the best possible position it could be in, as Donald Trump embarks on a trade war with nearly all his economic partners? I realise this might, at first, sound a little odd. After all, when the world is facing economically-destructive measures (blanket tariffs…
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The next guest on tonight’s edition of Politics Hub With Sophy Ridge is the Tees Valley mayor, Lord Ben Houchen. The Conservative survivor was speaking to Sky News deputy political editor Sam Coates, and he was asked about the Labour government’s plans to boost growth. He said that what the government has trailed “seems pretty laudable”, adding: “They…
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Campaigners are calling on the government to allow rents to be capped within tenancies as a key bill returns to the Commons More than 30 MPs have backed an amendment to the Renters’ Rights Bill which, if passed, would restrict how much landlords can raise rents on sitting tenants by limiting percentage increases to inflation…
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Poundland is investing more money than ever into new security measures after more than £44m of stock was lost last year. The bargain retailer, which sells a large proportion of its products for £1 or less, said it had been a particular target of theft and abuse. In a bid to tackle that issue, Poundland…
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We brought you reports from Bloomberg earlier that the pound could slump as much as 8% – and now we have some commentary from the trading floor about what is anticipated. As markets opened this morning, the pound headed towards the $1.21 mark, the lowest level since November 2023. But Tony Redondo, founder at Cosmos…
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Confidence among UK residents appears to have been shaken “without a piece of news that’s pushed them there”. “Which suggests it’s vibes,” says Ed Conway. “The vibes have gone against the UK.” From Brexit to the budget – it’s all contributing It’s not as if Britain is a massive outlier, he notes, with the cost…
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Spain plans to raise taxes on holiday rentals so that they pay “like a business”. Prime Minister Pedro Sanchez announced the plan today as residents of the country’s main cities grapple with soaring rents. “It isn’t fair that those who have three, four or fiveapartments as short-term rentals pay less tax than hotels orworkers,” said…
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UK house sellers last year made on average £91,820 more than they had originally paid for their property, according to new data. Analysis shows that the average seller made a 42% gross profit last year on their sale – the lowest return since at least 2015, according to the property firm Hamptons. While price gains were lower,…
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Private car park operators have said they will update their policy after a driver was hit with legal action for taking more than five minutes to pay for using a car park. In November last year, Rosey Hudson was taken to court by a private parking company for £1,906 after she repeatedly took more than…
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Traders are preparing for the pound to fall by as much as 8%, Bloomberg reports. The pound is under pressure as government borrowing costs rise (see our market report at 10.17am). As markets opened this morning, the pound headed towards the $1.21 mark, the lowest level since November 2023. Bloomberg says: “There’s sizable demand for contracts that…
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The shadow chancellor has responded angrily to news the UK is in recession, accusing the government of failing to act on its promises. “Rishi Sunak’s promise to grow the economy is now in tatters,” Labour’s Rachel Reeves said. “This is Rishi Sunak’s recession and the news will be deeply worrying for families and business across…
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A thinktank has warned today’s recession news is worse than it looks – despite some optimism from officials. James Smith, research director at the Resolution Foundation, said growth data was being impacted by the UK’s growing population. “Britain has fallen into recession, and a far deeper living standards downturn. Even this weak data is flattered…
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The rate of inflation has remained at 4%, confounding expectations of a rise, official figures show. The consumer price index measure of inflation stood at 4% in January, the Office for National Statistics (ONS) said. It was also 4% in December. Chancellor Jeremy Hunt said: “Inflation never falls in a perfect straight line, but the…
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The Covid-19 (a mutation of the SAARS[1] family of viruses) virus pandemic made its way across the borders of the United Kingdom, from Far East Asia, during January 2020. In response to this public health crisis, following the advice given to the Conservative UK government headed by Prime Minister Boris Johnson; by Epidemiologists, Medical Scientists,…
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