UK public spending will swell to more than half of GDP, IMF warns May 28, 2025 The British state will swell to more than half the total size of the UK economy under the government’s current plans, the International Monetary Fund has warned, as it sounded the alarm on “tough policy decisions” needed to meet ballooning spending. Total public expenditure is projected to grow by eight percentage points over the next [...]
London slips from top smart centre spot May 28, 2025 London has lost its place as the world’s top hub for science and tech innovation after a sobering report warned of the City’s slipping global status. The UK’s capital fell behind San Francisco and Zurich which stormed ahead with a gain of 16 and 6 points respectively. Meanwhile, London’s rating shed three points as it [...]
Farage challenges Labour as ‘working class’ party May 27, 2025 Nigel Farage has insisted that Reform has replaced Labour as “the party of the working class,” while introducing a litany of policies which he claims represent the interests of working people. In a speech on Tuesday morning, the Reform leader goaded the Labour Party, accusing leaders of being “absolutely terrified” of him. Farage lambasted Labour’s [...]
Relentless surge in government debt is unsustainable says BIS May 27, 2025 Policymakers across the world need to get a grip on the relentless surge in public government debt, a leading economist has warned. Agustin Carstens, general manager of the Bank for International Settlements (BIS) said fiscal authorities have a “narrow window” to put their house in order “before the public’s trust in their commitments starts to [...]
Up to 4,000 livelihoods at risk as ABF prepares to pull plug on bioethanol plant May 27, 2025 As many as 4,000 livelihoods are at risk after the owner of Britain’s largest bioethanol plant has warned it could shut within days, citing UK-US tariff policy. ABF, which owns the Vivergo Fuels plant in Yorkshire, has written to farmers warning it planned to suspend purchases of wheat used in the production process unless the [...]
Farage unveils Reform UK’s new economic policies May 27, 2025 Reform UK leader Nigel Farage has unveiled a tranche of policies aimed at increasing birth rates in the UK, cutting down on government spending, and reinstating welfare policies as he seeks to capitalise on the party’s popularity. The new policies are part of a wider push from the party to present themselves as “the party [...]
Is Natwest set for a deal spree after privatisation? May 27, 2025 As Natwest finally breaks from the shackles of government ownership, the banking juggernaut may be gearing up for an acquisition spree. The FTSE 100 giant is speculated to return to privatisation in a matter of days after the government accelerated its sell off over the last year. Shares in the firm rose one per cent [...]
North Sea windfall tax causing ‘irreversible damage’ says oil giant May 27, 2025 The boss of Enquest has slammed the windfall tax on oil and gas firms as doing “irreversible damage” to the industry and “driving job losses across the sector”. Amjad Bseisu, Enquest’s chief executive, called for the North Sea tax to be scrapped in an operations update on Tuesday after claiming it makes the UK a [...]
Britain’s start-ups reeling from economic pressure May 27, 2025 Start-up businesses are feeling the sting of an uncertain economic landscape as fresh research shows new firms are employing fewer staff than ever before. The average number of staff for a new firm had slumped to 2.64, down from 3.5 in 2017 according to Cynergy Bank’s latest Business Births and Deaths Index. The research, which [...]
Starmer plays a risky game on welfare reform May 27, 2025 Rightly or wrongly, Labour decided that the first signal they should send as a new government was that they wouldn’t duck tough economic decisions. The cut to the winter fuel allowance was offered up as the ultimate proof of their seriousness; politically difficult but, we were told, financially necessary. A direct line was drawn between [...]