Economy

 

Osborne avoids deficit slip-up, retail sales unexpectedly fall

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LONDON - Chancellor George Osborne met his latest deficit reduction target, avoiding embarrassment two weeks before the election, but weak retail sales figures raise the risk that growth has slowed.

UK voters in the dark on post-election fiscal plans - think tank 23 Apr 2015

LONDON - Britain's main political parties are not giving voters important details of how they would run the public finances after the May 7 national election, the Institute for Fiscal Studies, an independent think tank, said on Thursday.

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No Bank of England rate rise until early 2016 - Reuters poll 23 Apr 2015

- The Bank of England will wait until early 2016 before raising interest rates, but with economic growth forecast to stay steady and inflation below target, even then it is a close call, according to a Reuters poll of economists.

UK car production up 1.9 percent in March 23 Apr 2015

LONDON - British car production picked up modestly in March, industry figures showed on Thursday, but a fall in exports left total output in the first three months of 2015 a fraction weaker than in 2014.

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Bank of England upbeat on euro zone, eyes inflation pressures 22 Apr 2015

LONDON - Bank of England policymakers struck a more bullish tone on the euro zone and the prospects for higher inflation in their latest set of policy minutes on Wednesday, pushing sterling higher, though a rate rise still appears some way off.

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Fiscal freedom for Scotland would mean spending cuts, tax rises - think-tank 21 Apr 2015

LONDON - Scotland would have to make "substantial" spending cuts or increase taxes if the Scottish National Party (SNP) gained full control of the country's finances after next month's general election, the Institute for Fiscal Studies said on Tuesday.

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New risks as young Londoners priced out of housing market 21 Apr 2015

LONDON - Last weekend, London couple Vicki Clayton and James Renhard left behind cramped bedrooms that smelt of smoke, housemates who stole their food and a landlord who kept his deposit, and moved into a rented flat of their own.

Factbox: Housing policies of Britain's major political parties 21 Apr 2015

LONDON - As Britain heads to national elections in May, high prices have reshaped the housing market, doubling the proportion of people who rent privately and dissuading many young people from saving for a home. Britain's main political parties have different policies to fix the problem:

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Asking prices for homes in England hit new high 20 Apr 2015

LONDON - Asking prices for homes on sale in England and Wales hit an all-time in the month to early April, pushed up by a fall in the number of properties on the market, property website Rightmove said on Monday.

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British unemployment rate at multi-year low ahead of election 17 Apr 2015

LONDON - Britain's economy created the largest number of new jobs in nearly a year and unemployment hit its lowest rate since mid-2008, official labour market data showed on Friday, the last such report before a closely fought election on May 7.

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