LONDON Chancellor George Osborne's U-turn decision not to cut state support for low-income workers will provide short-term relief for many households across Britain, but is unlikely to dent his broader attempt to rein in welfare spending.
LONDON Chancellor George Osborne delivered a half-yearly budget update on Wednesday, slightly raising his budget surplus target for the end of the decade while scrapping a controversial plan to make big savings in one part of the welfare budget.
LONDON Chancellor George Osborne took advantage of stronger forecasts for tax revenues to drop an unpopular plan to scrap some benefits for low-earners and ease other deep cuts, but he stuck to a target for budget surplus in 2020. | Video
LONDON Britain will raise the level of a property tax for those who buy a house in order to rent it and on second homes, Chancellor George Osborne said on Wednesday, as part of plans to cut government spending and raise revenues.
LONDON The Bank of England will hike interest rates in the second quarter of next year but the timing may rest on whether the U.S. Federal Reserve tightens policy in the world's largest economy next month, a Reuters poll found.
LONDON British banks approved more mortgages in October than a month before, taking the annual growth rate to the highest since April 2014, while personal lending expanded by the largest amount since March.
LONDON Britain's economy is not going through a credit boom and the fall in manufacturing employment in the country is a result of global trends, Bank of England Deputy Governor Ben Broadbent was quoted as saying in a newspaper interview published on Tuesday.
LONDON Bank of England Governor Mark Carney said he did not know when British interest rates should start to rise, once again sounding vaguer than before about when the BoE might begin easing the economy off record-low borrowing costs.
LONDON UK markets have not even begun to discount the chance that Britain could vote to leave the European Union next year, raising the risk of a blowup closer to the vote and complicating the timing of any Bank of England interest rate rise, top investors say.
LONDON UK housebuilders surrendered part of their hefty gains in afternoon trade on Wednesday after Chancellor George Osborne announced plans to raise property tax for those who buy a house in order to rent it and on second homes.
LONDON Britain's markets watchdog is to review the country's 6.6 trillion pound asset management sector, saying that more transparency may not be enough to guarantee investors value for money.
LONDON Less than a quarter of British households expect the Bank of England to raise interest rates in the next six months, after the central bank offered no hint in its latest economic outlook that it was gearing up for an imminent rate hike.