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The latest UK borrowing figures, reveal a significant increase in public sector net borrowing. In December 2024, the UK government borrowed £17.8 billion, which is the highest figure for the month for four years. This amount was reportedly £10.1 billion higher than the same month last year and exceeded the £14.1 billion forecast by most …
The pound has continued to fall after UK government borrowing costs rose and concerns grew about public finances Sterling dropped as UK 10-year borrowing costs surged to their highest level since the 2008 financial crisis when bank borrowing virtually ground to a halt. Economists have warned the rising costs could lead to further tax rises …
Continue reading “Has ‘Rachel from accounts’ messed up the UK economy?”
The UK economy contracted by 0.3% in April 2025, a sharper decline than the 0.1% forecast by economists, according to the Office for National Statistics (ONS). The unexpected downturn has raised fresh concerns about the country’s economic resilience amid rising costs and global trade tensions. April’s contraction was driven by a combination of domestic and …
The UK economy has defied expectations, recording a 0.7% increase in GDP in the first quarter of 2025 – better than the forecast of 0.6%. This surge places Britain ahead of economic heavyweights, including the United States, Canada, France, Italy, and Germany. A key driver of this growth has been the service sector, which demonstrated …
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Tariffs are terrific, according to Trump – it’s his most favourite word. Donald Trump’s ‘Liberation Day’ tariffs have sent shockwaves through global trade, marking a dramatic escalation in his tariff trade war strategy. The day of economic independence. The President of the United States proudly showed off his tariff agenda neatly displayed on a chart …
In February 2025, UK government borrowing reached £10.7 billion, significantly exceeding the £6.5 billion forecast by the Office for Budget Responsibility (OBR) This marks the fourth-highest borrowing figure for February since records began in 1993. The unexpected rise in borrowing has intensified pressure on Chancellor Rachel Reeves ahead of her upcoming Spring Statement. The increase …
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The UK economy faced an unexpected contraction of 0.1% in January, marking a surprising downturn following a 0.4% growth in December 2024 This decline, reported by the Office for National Statistics (ONS), has raised concerns about the nation’s economic trajectory, particularly as the government prioritizes boosting growth. The contraction was primarily attributed to a slowdown …
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The UK government has announced a significant budget surplus for January 2025, marking a notable achievement in its fiscal management The surplus, which is the difference between what the government spends and the tax it takes in, amounted to £15.4 billion. This figure represents the highest level for the month of January since records began …
The U.K. economy grew by just 0.1% in the fourth quarter according to a preliminary estimate from the U.K.’s Office for National Statistics (ONS) released Thursday 13th February 2025. Economists had expected the country’s GDP to contract by 0.1% over the period. The services and construction sectors contributed to the better-than-expected performance in the economy, …
The UK economy grew for the first time in three months – but only just. The tiny growth was driven in part by an increase in trade for pubs, restaurants, and the construction industry. Official figures showed an expansion of 0.1% after the economy contracted in each of the two months. The return to growth …
The UK economy expanded by just 0.1% from July to September 2024, as announced in the most recent official data release. The growth was less than anticipated, and the Office for National Statistics (ONS) reported that most sectors experienced subdued activity over the quarter. Labour, having prioritised economic growth upon assuming power, found Chancellor Rachel …
Continue reading “UK growth slows – it’s the ‘budget’ stupid!”
The UK Labour government aimed to attract foreign investment on Monday 14th October by hosting its first International Investment Summit in London Prime Minister Keir Starmer, Chancellor Rachel Reeves, and Business Minister Jonathan Reynolds headed the one-day event at London’s Guildhall, with an attendance of approximately 200 executives from both the UK and abroad. Notable …
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The Bank of England has halved its growth forecast for 2025 as it cut interest rates to 4.50% – the lowest for around 18 months The economy is now expected to grow by 0.75% in 2025, the Bank of England reportedly said, down from its previous estimate of 1.5%. Not good news for the chancellor, …
Continue reading “Bank of England cuts interest rate to 4.50% and cuts growth forecast for 2025”
Revised official figures indicate that the UK economy was weaker than initially estimated between July and September 2024. The economy experienced zero growth in these three months, down from an earlier estimate of 0.1%. UK Chancellor, Rachel Reeves reportedly stated that the challenge to fix the economy “after 15 years of neglect is huge,” and …
Continue reading “UK economy had zero growth between July and September 2024 – bad to worse”
The U.K. economy contracted unexpectedly in October 2024, according to data from the Office for National Statistics (ONS). Gross Domestic Product (GDP) fell by an estimated 0.1% on a monthly basis, the ONS said Friday 13th December 2024, attributing the downturn to a decline in production output. It marked the second consecutive economic downturn, following a 0.1% …