UK growth revised up two years late August 19, 2025 The UK economy grew slightly more in 2023 than previously assumed due to a change in how official statisticians calculate research and development (R&D) data, the Office for National Statistics (ONS) said. Reflecting the difficulties in adding up output and consumption figures, the ONS said it was including new figures on tax data for R&D [...]
Business investment falls as alarm bells rung on low productivity August 14, 2025 Business investment fell by four per cent in the second quarter of the year despite moderate growth of 0.3 per cent, official data has shown, as top economists are ringing alarm bells on low productivity levels across the UK economy. The Office for National Statistics (ONS) said there was a dramatic fall in investment compared [...]
UK economy grows faster than expected in June August 14, 2025 The UK economy grew 0.4 per cent in June, official data has shown, in an unexpected turnaround following months of tariff and tax uncertainty. In the second quarter, GDP rose by 0.3 per cent after declining in both April and May. The Office for National Statistics (ONS) said the UK services sector, which makes up [...]
Official statistics have become useless August 7, 2025 The pandemic has exposed the shortcomings in how we measure everything, from inflation to GDP to jobs, says Helen Thomas Statistics haven’t quite kept pace with the world they’re meant to measure. Designed for an economy of assembly lines and cheque books, many of today’s headline figures feel increasingly out of step with a digital, [...]
Rachel Reeves urges cabinet to boost British jobs as employment slides July 26, 2025 Rachel Reeves has told cabinet ministers to ensure government contracts go to companies that will boost British workers as employment figures continue to struggle. The Chancellor, along with Chancellor to the Duchy of Lancaster Pat McFadden, told their colleagues that the billions in public spending on transport and infrastructure projects must be utilised as an [...]
Rachel Reeves urged to make ‘bold choices’ at Mansion House speech as growth stalls July 14, 2025 Financial services are looking to Rachel Reeves’ Mansion House speech and the launch of her new growth strategy for the sector as a pivotal turning point. The industry has been courted by the Chancellor in hopes of feeding ideas into the Treasury’s inaugural Financial Services Growth and Competitiveness Strategy. Now, firms look to be banking [...]
Bank of England interest rate cut ‘almost certain’ after poor growth July 11, 2025 Fresh growth figures have fuelled speculation of an August interest rate cut in a bid to give the waning UK economy a shot of life. The Office for National Statistics (ONS) revealed on Friday the UK economy shrunk for the second consecutive month with a 0.1 per cent contraction in May. Deutsche Bank’s chief economist [...]
UK economy contracts 0.1 per cent in blow to Rachel Reeves July 11, 2025 Rachel Reeves’ waning growth agenda has been dealt another blow after the UK economy contracted 0.1 per cent in May. The Chancellor has endured a bruising few weeks after government U-turns and spending splurges have cut into the fiscal headroom she outlined in the Autumn. Fresh figures from the Office for National Statistics have confirmed [...]
Alarming OBR forecast is too optimistic – debt is set to be 647 per cent of GDP July 9, 2025 The OBR is being far too optimistic in its assumptions about productivity growth in the UK – meaning the scale of the country’s debt problem is even greater than it appears, says Ben Ramanauskas According to the OBR’s forecast, the National Debt is projected to be over 270 per cent of GDP by the 2070s. [...]
Rachel Reeves to face fresh blow with sluggish growth data July 8, 2025 The UK economy is expected to have grown by a miserly 0.1 per cent in May, consensus among City economists suggests, undermining Chancellor Rachel Reeves’ commitment to deliver higher growth. The government’s difficult two weeks could get a whole lot worse on Friday morning when the Office for National Statistics (ONS) publishes data on GDP [...]