UK growth

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 twoRead More →

UK budget

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 →

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 consecutiveRead 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 →

Low UK growth figures

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 →

UK Inflation down below target

UK inflation fell unexpectedly to 1.7% in the year to September 2024, the lowest rate in three-and-a-half years This indicates that inflation, which is the rate at which prices increase over time, is currently below the Bank of England’s target of 2%, potentially leading to further reductions in interest ratesRead More →

Union Jack Flag UK

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 bothRead More →

UK GDP economic data

In August 2024, the U.K. economy experienced a 0.2% growth on a month-on-month basis, according to preliminary figures released by the Office for National Statistics on Friday 11th October 2024. But there is a warning of a potential UK slowdown despite the August pick-up. The gross domestic product (GDP) matchedRead More →

Tax black hole

Tax Reforms Increase in VAT: Adjusting the Value Added Tax (VAT) rate could generate substantial revenue. Pension Tax Relief: Limiting pension tax relief to the basic rate of income tax could raise around £15 billion per year. Pension tax relief raid. Windfall Tax: Increasing the windfall tax on the profitsRead More →

UK growth lower

The UK’s economic growth for the period between April and June 2024 was lower than initially estimated, as reported by the ONS The Gross Domestic Product (GDP), which quantifies the economic activity of companies, governments, and individuals within a country, increased by 0.5%, a revision from the preliminary figure ofRead More →

UK luxury shopping

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 →

UK inflation

UK inflation was reported at 2.2% for August 2024, according to the Office for National Statistics (ONS) data released on Wednesday 18th August 2024 The consumer price index (CPI) figure aligned with the forecasts of analysts and remained consistent with July’s inflation rate of 2.2%. Previously, the headline CPI hadRead More →

Critical data centres UK

UK data centres are set to be classified as critical national infrastructure (CNI), aligning them with sectors such as emergency services, finance, healthcare, and utilities This classification will ensure they receive additional government support during major incidents like cyber-attacks, IT outages, or severe weather, to reduce disruption. Data centres, largeRead More →

UK economic health

The UK’s economy did not experience growth in July 2024, continuing the stagnation from June 2024, as indicated by official data Analysts had anticipated a modest growth of 0.2% for July. However, the Gross Domestic Product (GDP) fell short of the expectations set by economists surveyed by Reuters, who hadRead More →