The UK economy has shrunk again – but it’s too soon for Reeves to utter the word ‘recession’...
3 weeks, 2 days ago

The UK economy has shrunk again – but it’s too soon for Reeves to utter the word ‘recession’...

The Independent  

Instead of growing by 0.2 per cent, as optimistically forecast by the City and the Bank of England, the UK economy shrunk by 0.1 per cent in October for the second month running. The picture looks marginally better over the past three months; the economy expanded by 0.1 per cent over the longer period. What ought to really worry chancellor Rachel Reeves is that this came before the impact of her decision to put the lion’s share of her cash grab on the shoulders of businesses via increased employer national insurance contributions is felt. And Switzerland’s rate setters lopped 0.5 per cent from theirs, the biggest move in a decade.

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History of this topic

Starmer and Reeves must be clear about the sacrifices needed to achieve econmic growth
2 weeks, 4 days ago

Starmer and Reeves must be clear about the sacrifices needed to achieve econmic growth

The Independent  

No amount of political tinsel or rhetorical baubles can disguise the grim reality that the British economy is flatlining. Equally plainly, the downbeat mood struck by Labour ministers following the general election, with their talk of a crisis in the public finances, cannot have helped matters; and if the latest surveys are anything to go by, Ms Reeves’s Budget measures …

Blow for Rachel Reeves as zero growth puts UK on brink of recession
Trending News
2 weeks, 4 days ago

Blow for Rachel Reeves as zero growth puts UK on brink of recession

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Kate Nicholls, chief executive of UKHospitality, said on Monday that the revised growth figures …

Can Rachel Reeves save Britain’s frozen economy from recession?
2 weeks, 4 days ago

Can Rachel Reeves save Britain’s frozen economy from recession?

The Independent  

Jack Frost swept an icy chill across the UK economy earlier than anyone expected. Following on from last week’s grim economic news, the Office for National Statistics has revised its third quarter estimate of GDP growth down to absolute zero. At minus 24, the business group’s “growth indicator” is at its lowest level in two years. “The Budget and our …

How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?
3 weeks ago

How long will the shadow of Reeves’ Budget hang over Britain’s gloomy economy?

The Independent  

Fun fact: the OECD still predicts that Britain’s economy will be one of the stars of the G7 during 2025 with growth of 1.7 per cent, lagging only behind the US at 2.4 per cent. Labour’s tax-raising budget, and particularly the decision to raise £24bn by hiking employer national insurance contributions looms large over UK plc. The Bank of England’s …

Reeves faces a recession fears but industrial hollowing could offer a bigger problem
4 weeks ago

Reeves faces a recession fears but industrial hollowing could offer a bigger problem

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK economy shrank again …

UK economy shrinks again in another blow to Reeves, new figures show
4 weeks, 1 day ago

UK economy shrinks again in another blow to Reeves, new figures show

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Rachel Reeves said the figures were disappointing “We are determined to deliver economic growth as …

Reeves must move beyond honeyed words to improve relations with the EU
1 month ago

Reeves must move beyond honeyed words to improve relations with the EU

The Independent  

Closer relations between the UK and the European Union will boost economic growth, said chancellor Rachel Reeves, kicking off her visit with EU finance chiefs, today. But there’s a problem with the Labour government continually talking about its desire for a “reset” with Europe after the chaos, controversy, pettiness and hostility that characterised the various Conservative administrations that preceded it. …

DAILY MAIL COMMENT: Reeves is talking the UK into recession
1 month, 2 weeks ago

DAILY MAIL COMMENT: Reeves is talking the UK into recession

Daily Mail  

The snowball effect describes a situation in which something increases in size or importance at an ever faster rate – often with disastrous consequences. Immediately after Labour's July 4 election victory she falsely claimed the Government had inherited the 'worst set of circumstances' since the Second World War. Chancellor of the Exchequer Rachel Reeves displays the red budget briefcase to …

How Reeves can save the ‘crown jewel’ of Britain’s economy
1 month, 3 weeks ago

How Reeves can save the ‘crown jewel’ of Britain’s economy

The Telegraph  

Rachel Reeves says she believes the City of London is the “crown jewel” of Britain’s economy. Speaking at the annual Mansion House dinner on Thursday, Reeves said post-crisis regulation had “resulted in a system which sought to eliminate risk-taking. That has gone too far and, in places, it has had unintended consequences which we must now address.” The urgency of …

UK economy under Labour stalls - what that means for you and your money
1 month, 3 weeks ago

UK economy under Labour stalls - what that means for you and your money

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves has said …

Reeves sets out promise to ‘invest, invest, invest’ in first Budget
2 months, 1 week ago

Reeves sets out promise to ‘invest, invest, invest’ in first Budget

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Chancellor Rachel Reeves said there …

Rachel Reeves pledges to ‘invest, invest, invest’ as she prepares to unveil historic Labour Budget
2 months, 1 week ago

Rachel Reeves pledges to ‘invest, invest, invest’ as she prepares to unveil historic Labour Budget

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Rachel Reeves will unveil her historic Budget – the first by …

Britain's growth calamity: The Government's prioritisation of the public sector over all else is bonkers, says ALEX BRUMMER
2 months, 1 week ago

Britain's growth calamity: The Government's prioritisation of the public sector over all else is bonkers, says ALEX BRUMMER

Daily Mail  

There has been so much discussion about fiscal policy, new rules and taxing until the pips squeak ahead of today’s Budget that the core purpose of backing growth is lost in the undergrowth. Construction drive: Chancellor Rachel Reeves and colleagues see building more houses and better infrastructure as keys to economic expansion The US, for all its economic dynamism, has …

Rachel Reeves is accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August
2 months, 4 weeks ago

Rachel Reeves is accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August

Daily Mail  

Rachel Reeves was yesterday accused of holding back the economy after Britain eked out growth of just 0.2 per cent in August amid the Chancellor’s relentlessly ‘negative’ rhetoric. Rachel Reeves put a positive tone on the news on Friday, pointing to a major investment summit being held next week Official figures showed GDP expanding 0.2 per cent at the end …

OECD optimistic about UK's economy
3 months, 2 weeks ago

OECD optimistic about UK's economy

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. In an optimistic assessment likely to please the UK's new Labour Party government, the Paris-based organization said it expects the UK economy to be the joint-second fastest-growing among G7 nations. In its latest twice-yearly global economic outlook, the OECD predicted the …

Reeves ‘risks jump in interest rates’ by rewriting debt rules
3 months, 2 weeks ago

Reeves ‘risks jump in interest rates’ by rewriting debt rules

The Telegraph  

Rachel Reeves’s “opportunistic” attempt to rewrite Britain’s fiscal rules ahead of the Budget risks causing a surge in interest rates, a leading think tank has warned. The Institute of Fiscal Studies said any move to alter the Chancellor’s self-imposed fiscal rules “would not be without risks”, which comes ahead of her maiden Budget in October. However, the IFS warned that …

UK finally sees growth in economy during May
5 months, 4 weeks ago

UK finally sees growth in economy during May

China Daily  

Buses cross Waterloo Bridge with the City of London financial district seen behind, in London, Britain, March 5, 2024. The United Kingdom economy bounced back in May, showing signs of growth after a stagnant April and marking a continuation of the country's recovery from last year's recession. The Office for National Statistics, or ONS, reported a 0.4 percent increase in …

Reeves signals closer UK-EU trade ties at start of economy-focused campaign week
6 months, 3 weeks ago

Reeves signals closer UK-EU trade ties at start of economy-focused campaign week

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. “I don’t think …

UK recession live: Reeves says Britain trapped in cycle of ‘decline’ as Sunak’s economy pledge ‘in tatters’
10 months, 3 weeks ago

UK recession live: Reeves says Britain trapped in cycle of ‘decline’ as Sunak’s economy pledge ‘in tatters’

The Independent  

✕ Close Hunt insists plan to bring inflation down is working despite 4 per cent increase For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like …

Why the Bank of England has put Britain on course for recession
1 year, 6 months ago

Why the Bank of England has put Britain on course for recession

The Telegraph  

GDP grew by an underwhelming 0.1pc in the three months to April. “It is increasingly difficult to see how the UK avoids a recession as part of the process of bringing inflation down,” he says, adding that this “large rate increase will probably be seen in retrospect as an important milestone towards that recession”. “Raising interest rates will do little …

Britain caught in ‘growth doom loop’ as private investment lags far behind rest of G7
1 year, 6 months ago

Britain caught in ‘growth doom loop’ as private investment lags far behind rest of G7

The Telegraph  

“If the economy is the engine of a country, investment is its fuel. But the UK’s tank is running on empty and it’s harming economic growth, driving inequality, and slowing progress towards net zero and energy security.” As well as ranking last among the G7, the IPPR report also found that the UK now ranks twenty-seventh out of the 30 …

UK economy to enter recession until summer 2023, financial experts warn
2 years, 2 months ago

UK economy to enter recession until summer 2023, financial experts warn

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. A combination of high energy …

Britain ‘step closer to recession’ after economy shrank in August
2 years, 2 months ago

Britain ‘step closer to recession’ after economy shrank in August

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Britain’s economy unexpectedly shrank in …

OECD says UK economy will slump to zero growth in 2023
2 years, 7 months ago

OECD says UK economy will slump to zero growth in 2023

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Countries worldwide are being hit by higher commodity prices, …

V-shaped recovery not definite, below pre-covid levels until 2021 end: Gopinath
4 years, 6 months ago

V-shaped recovery not definite, below pre-covid levels until 2021 end: Gopinath

Live Mint  

Britain may not get the V-shaped recovery that some Bank of England policy makers are hoping for. Asked by a panel of U.K. lawmakers on Wednesday whether the country could see a smooth rebound, IMF Chief Economist Gita Gopinath said “many things are possible.” “My fear is that the beginning of the recovery” will show “a spike initially, and then …

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