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 couldRead More →
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 yearsRead More →
In November 2024, business confidence in the U.K. dropped to its lowest point since January 2023, as reported by BDO, a business advisory and accountancy firm. Concurrently, KPMG noted that UK job vacancies decreased at the quickest pace since the pandemic began. This downturn coincides with warnings from businesses thatRead More →
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 uponRead More →
Labour’s proposal to dismantle the UK’s non-dom tax system may lead to an exodus of the ultra-wealthy, as advisors and research bodies have cautioned. Switzerland, Monaco, Italy, Greece, Malta, Dubai, and the Caribbean are becoming popular relocation destinations, sensing the apprehension among affluent investors. Meanwhile, London’s super-prime real estate marketRead More →
The U.K.’s opposition Labour Party secured a significant parliamentary majority in the 2024 general election, displacing the incumbent Conservatives after 14 years in power. Labour surpassed the threshold of 326 majority required to govern without coalition support as outgoing Prime Minister Rishi Sunak acknowledged the loss. Sir Keir Starmer, theRead More →
