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Politics

Brexit rewrites UK budget rules as borrowing set for first big rise since 2010

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LONDON Britain could borrow nearly 65 billion pounds more than planned in the next couple of years as new Chancellor Philip Hammond seeks to 'reset' government budget policy to ease the shock of last month's vote to leave the European Union.

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Cameron made last-ditch pre-vote appeal to Merkel over immigration - BBC 23 Jul 2016

LONDON Days before Britain's referendum on whether to leave the European Union, former Prime Minister David Cameron made an appeal to German Chancellor Angela Merkel for limits on the free movement of people, the BBC reported on Saturday.

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When does Brexit mean Brexit - Could the UK change its mind? 22 Jul 2016

LONDON Since entering Downing Street as Britain's new prime minister last week, Theresa May has quickly dispelled hopes that the UK might change its mind about leaving the European Union.

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Hammond says Britain may reset fiscal policy in strongest hint to change 22 Jul 2016

LONDON Britain could reset fiscal policy if necessary in the wake of the Brexit vote, finance minister Philip Hammond said on Friday in his strongest comments to date on how policy may change after Britain's historic decision to leave the European Union.

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UK retail sales suffer biggest fall in six months, no EU effect reported 21 Jul 2016

LONDON British retail sales suffered their sharpest monthly fall in six months in June, but stores said bad weather rather than Brexit was to blame, leaving open the question of how big a hit the vote to leave the European Union will deal to the economy.

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New Chancellor Hammond says BoE to move first on Brexit response 19 Jul 2016

LONDON Chancellor Philip Hammond said on Tuesday the Bank of England would take the first steps to help steer the economy through its Brexit shock, and possible budget measures would not come until later this year.

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Most Britons oppose second referendum on EU exit - poll 16 Jul 2016

LONDON The majority of Britons are opposed to a second referendum on membership of the European Union and almost half believe new Prime Minister Theresa May should carry on without calling a general election, according to a poll published on Saturday.

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In Brexit heartlands, clock ticks for May to start Britain's EU divorce 15 Jul 2016

COALVILLE, England In the English heartlands which voted heavily to leave the European Union, the wishlists are out: everything from reducing migration to bringing back the "crown" stamp on pint glasses in pubs.

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May builds new-look Brexit cabinet to steer EU divorce 14 Jul 2016

LONDON New Prime Minister Theresa May ruthlessly overhauled the British cabinet on Thursday, sacking a raft of ministers, promoting loyalists and putting supporters of Britain's exit from the European Union firmly in charge of negotiating its terms.

Challenges lie ahead for UK's new pro-Brexit aid minister 14 Jul 2016

LONDON (Thomson Reuters Foundation) - In his final days as prime minister, David Cameron hailed Britain's 12 billion pound (12 billion pounds) foreign aid budget as one of his greatest achievements.



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UK’s strong GDP has a soft centre

The headline - 0.8 percent second-quarter growth - sounds good. But construction shrank and industrial production was weak. Only services were strong. It sounds like a warning of future problems. Expectations of a UK interest rate rise may be delayed, leading the pound down.