OBR downgrades UK growth prospects as higher interest rates bite November 22, 2023 The Office for Budget Responsibility (OBR) has downgraded its growth forecasts for the UK economy over the next couple of years as higher interest rates bite.
Alarm over economy ‘slowing swiftly’ with manufacturing deteriorating to 2021 low November 22, 2023 Order books for manufacturing firms fell to their weakest level since early 2021, dampening hopes of a recovery in the sector.
Sluggish global growth cannot be an excuse for Britain ignoring opportunities November 22, 2023 An industrial strategy will not go amiss, but we must look at far more to fix Britain's growth problem, writes Paul Ormerod
Business budget: Hunt vows to cut taxes and boost investment by £20bn a year by 2030 November 21, 2023 Jeremy Hunt has vowed to boost business investment by £20bn a year by 2030 ahead of the Autumn Statement.
Latest borrowing figures pose headache for Hunt ahead of Autumn Statement November 21, 2023 Samuel Tombs, chief UK economist at Pantheon Macroeconomics, said that "October’s data likely are more indicative of the trend over the coming months".
Markets ‘underestimating’ the risks on inflation, Bank of England warns November 21, 2023 Four members of the Bank's MPC agreed that there were clear risks that inflation could remain elevated despite the sharp fall in October.
UK borrows more than expected ahead of Autumn Statement as tax cuts mooted November 21, 2023 The government borrowed more than expected in October, providing a “timely reminder” about the state of the UK’s fiscal position ahead of the Autumn Statement. According to figures from the Office for National Statistics, the government borrowed £14.9bn in October, £1.2bn more than had been pencilled in by the Office for Budget Responsibility (OBR). This [...]
Wage growth nudges higher — what does this mean for the Bank’s war on inflation? November 21, 2023 Pay awards have picked up again in the last three months thanks to higher pay packets from the public sector, complicating the path to potential interest rate cuts.
Bailey: ‘Far too early’ to talk about cutting interest rates despite ‘welcome news’ on inflation November 21, 2023 Andrew Bailey, governor of the Bank of England, stressed that it is still "far too early" to consider interest rate cuts despite the recent "welcome news" on inflation.
Reasons to be cheerful? Why the UK could dodge a recession November 21, 2023 After the most recent GDP figures for the third quarter, it is all but certain that the UK will avoid a contraction this year. So are there still reasons to be optimistic about the UK's performance over the coming months?