Chancellor George Osborne turned to the Bank of England on Wednesday to help galvanise a stagnant economy which he said would grow this year at just half the rate previously expected. Full Article
LONDON - Britain is likely to raise the state pension age to 68 in the mid-2030s, a decade earlier than previously expected, to offset the impact of improving life expectancy, the government said, as it seeks to cut its pension bill.
LONDON - Prime Minister David Cameron appealed to voters on Wednesday to give his government more time to secure the country's economic recovery and defended his deficit-cutting policies.
- The Bank of England is moving closer to hiking interest rates from record lows, but most forecasters doubt that will happen until 2015, which will keep sterling in check over the coming year, a Reuters poll showed.
LONDON - British insurers plan to invest 25 billion pounds in transport and energy projects over the next five years, the Treasury said on Wednesday, a day before it presents a half-yearly economic update.
LONDON - Growth in Britain's service sector slowed a little last month, a survey showed on Wednesday, breaking a run of positive data surprises but still providing a strong backdrop for the government's budget update later this week.
LONDON - Growth in Britain's service sector slowed a little last month, a survey showed on Wednesday, breaking a run of upside data surprises but still providing a strong backdrop for the government's budget update later this week.
LONDON - Britain has agreed to provide a loan guarantee to Japan's Hitachi to help it finance a new multi-billion pound nuclear plant in Wales.
LONDON - - Britain's construction sector unexpectedly picked up more speed in November, hitting its strongest levels of output and employment since August 2007, according to a survey of purchasing managers.
LONDON - Britain's improving public finances are likely to lead to a cut in bond sales this fiscal year but gilt issuance probably won't fall anything like as fast as the country's overall financing needs.
Chancellor George Osborne looks to the Bank of England for more help. Full analysis from the NAB trading floor with currency strategist Nick Parsons and head of market economics Tom Vosa. Video
We’re now in a world where the wonkiest columnist in the driest newspaper in Britain is stating his case far more simply and clearly than a populist PR man turned PM. Commentary
When words and actions don’t match up, the problem is usually overly ambitious promises. In the debate on economic policy in the UK, the failure is in the present – the government’s description of fiscal and monetary policy flies in the face of reality. Commentary
Does devaluation still work? In the era after the financial crisis of 2007-08, there is mounting evidence that devaluation may not be able to help kick-start a stalled economy as readily as it may once have done. Commentary
To tackle debt Osborne needs to protect tax revenue. To maximise revenue, and appease recession-restless voters, he needs to promote economic growth. He could do all three by stamping on the UK’s property transaction tax and closing a crucial loophole. Commentary
You may say that our dreadful growth is the result of a lack of fiscal strategy, but this would be wrong. The trouble is that the economic strategy Osborne has adopted takes a long time to bear fruit and is fairly anti-growth, at least for the first few years. Commentary