UK economy grows just 0.1 per cent following Budget January 16, 2025 Economic momentum has ground to a halt since Labour took office while business confidence has also fallen sharply, particularly in the wake of October's Budget.
How ‘twin deficits’ have fuelled turmoil in the gilt market January 16, 2025 The sell-off eased slightly on Wednesday following positive inflation figures, but yields remain well ahead of where they were just a few weeks ago.
Reeves has dodged a bullet but she’s surrounded by landmines January 16, 2025 After all the excitement of a ministerial resignation, it’s time to check in on the government’s growth agenda. After all, the fate of individual politicians is of no significance when viewed against the major economic challenges facing the government, and the country. Talking to City CEOs, particularly those in the pension and investment sectors, it’s [...]
Vacancies back to pre-pandemic levels as UK jobs market slows January 16, 2025 The number of vacancies in the UK economy has fallen back in line with pre-pandemic levels, according to new figures from the REC.
How to control the cost of our over promoted civil service January 16, 2025 Civil service pay has been frozen yet the wage bill remains the same as it was 10 years ago. Time to clear out the dead wood and boost the pay of top talent, says Henry Hill It’s all so predictable. The previous government froze civil service pay to try and control costs as headcount ballooned. [...]
Malaysian firm YTL to invest £4bn in UK and former Concorde development January 15, 2025 The Malaysian firm YTL has announced plans to invest £4bn in its UK businesses and a brownfield housing development in Bristol at the site of the former Concorde hangars. The firm will spend £2bn on redeveloping the former Filton airfield in South Gloucestershire into an arena and housing development north of Bristol, the UK government [...]
PMQs: Starmer insists Reeves will be Chancellor for ‘many years to come’ January 15, 2025 Sir Keir Starmer has insisted Rachel Reeves will be Chancellor for “many years to come” as Kemi Badenoch lambasted her for losing the confidence of the markets. During Prime Minister’s Questions in the House of Commons, the Conservative leader hit out at Reeves, arguing: “The Prime Minister claims he has full confidence in the Chancellor, [...]
UK gilt auction fails to roll back yield spike January 15, 2025 A closely watched sale of UK government debt failed to roll back the alarming rise in yields after the £4bn auction did not drum up significant interest for gilts. The Debt Management Office (DMO) reported that the 2034 gilts were sold at a yield of 4.808 per cent, compared with 4.332 per cent in the last [...]
Pub giants allay fears of hospitality crisis despite higher wage bills January 15, 2025 Pub giants Mitchells & Butlers and Fuller, Smith & Turner have both expressed confidence as the firms adapt to higher wage bills, in a positive sign for an industry which warned of crisis last year. Mitchells, the owner of Harvester, Toby Carvery and All Bar One, reported like-for-like growth of 10.4 per cent over the [...]
Inflation falls to 2.5 per cent in boost for Chancellor Rachel Reeves January 15, 2025 The inflation figures come amid a sell-off in the gilt market, which has raised doubts about the government's fiscal plans and even prompted calls for the Chancellor to resign.