Labour’s housebuilding target ‘impossible the day it was announced’ says construction boss March 11, 2026 Labour’s housebuilding target was impossible the day it was announced, the boss of a leading construction materials firm has warned. Rob Wood, chief executive of materials specialist Breedon Group, told Morning Wire the government’s plans to build 1.5m homes by the next general election will fail because Labour is not backing its construction industries. Wood [...]
OBR warns inflation could exceed three per cent if Iran crisis continues March 10, 2026 Inflation is set to jump back up above three per cent if the rise in oil prices is sustained, a government watchdog has warned, amid fears the energy crisis in the Middle East could drag on. The Office for Budget Responsibility (OBR)’s David Miles said the current rise in oil and gas prices would add [...]
UK growth downgraded as firms measure hit from Iran turmoil March 9, 2026 The UK economy will suffer from sluggish growth this year, a leading industry body has warned, with further tax rises on the horizon remaining as a “risk”. Business chiefs have warned that the services sector is set to keep the UK economy afloat this year, with contractions expected to come across construction and manufacturing. The [...]
Will the Bank of England raise interest rates amid Iran war energy crisis? March 9, 2026 Traders are betting on interest rate hikes this year as Rachel Reeves and Sir Keir Starmer have consulted analysts at the Bank of England to monitor the impact of spiralling oil prices on the UK economy. Investors believe interest rates are more likely to rise than fall by the end of the year, with a [...]
Labour warned it could miss housing targets over tax burden on sector March 4, 2026 A leading construction industry body has warned the Labour government could miss its ambitious house building target as employment costs and tax burdens build pressure on the sector. The Construction Plant-hire Association (CPA), which represents more than 2,000 firms providing critical machinery and expertise to the industry, told Morning Wire Labour will fail to meet [...]
Living standards to be ‘far bleaker’ after 2026 despite Reeves’ claims March 4, 2026 UK living standards are projected to drop in the two years before the next General Election as economists warned people were heading for “far bleaker” times ahead, turning up the heat on Chancellor Rachel Reeves to deliver on a commitment to ease the cost of living. Economists at the Resolution Foundation, the left-leaning Westminster think [...]
Spring Statement Live: UK growth cut for 2026 but Reeves touts future forecasts March 3, 2026 Welcome back to the Morning Wire liveblog. Rachel Reeves delivered her Spring Statement today, as the Office for Budget Responsibility published its updated forecasts for the years ahead. The Chancellor was handed quite a hefty blow with the UK’s growth estimate for 2026 slashed to 1.1 per cent from 1.4 per cent the year prior. [...]
Reeves to deliver ‘stability’ Spring Statement amid turmoil in Iran March 3, 2026 Chancellor Rachel Reeves is set to deliver a Spring Statement trumpeting the UK’s economic stability against the backdrop of a war in the Middle East, with official forecasts expected to touch on lower growth, falling inflation and higher unemployment over the coming months. In an address to the House of Commons around 12.30pm today, Reeves [...]
What does Rachel Reeves’ ‘low-key’ Spring Statement mean for markets? March 2, 2026 Ahead of Rachel Reeves’ Spring Statement on Tuesday, Investec’s Chief Economist Philip Shaw sat down with Morning Wire’s Rupert Hargreaves to discuss what investors should look out for in the key statement. Rupert Hargreaves: Next Tuesday, the Office for Budget Responsibility publishes updated economic and fiscal forecasts, as required under the 2011 Budget Responsibility Act, [...]
Made to be broken? Reeves urged to keep fiscal rules February 26, 2026 Chancellor Rachel Reeves has been urged to keep her fiscal rules amid growing calls for tweaks to be made to factor in long-term investments and demands for higher defence spending. Richard Hughes, the most recent chair of the Office for Budget Responsibility (OBR), called on Reeves to see out her fiscal rules through parliament. Appearing [...]