Budget 2013

With growth halved, Chancellor Osborne turns to Bank of England for help

Britain's Chancellor of the Exchequer, George Osborne, holds up his budget case for the cameras as he stands outside number 11 Downing Street, before delivering his budget to the House of Commons, in central London March 20, 2013. REUTERS/Stefan Wermuth

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 

Markets may have over-reacted to slowdown - Bank of England's Haldane

LONDON - Investors may have over-reacted to signs of economic slowdown, although they have been right to price in weaker global growth prospects, the Bank of England's chief economist said in a Sunday newspaper interview.

20 Oct 2014

Political worries grow for UK, forecasters say

LONDON - Business investors are increasingly worried about political risks in Britain, including the outcome of a general election in May and a possible referendum on European Union (EU) membership, an economic forecasting firm said.

20 Oct 2014
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Bank of England may keep rates low for longer, says chief economist

LONDON - Britain's economic recovery might stall if interest rates rise too soon, the Bank of England's chief economist said on Friday as he offered the strongest signal yet that the bank is prepared to delay increases in borrowing costs.

Money Home, Money 17 Oct 2014
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First UK rate hike still expected in Q1 2015 despite low inflation

LONDON - Falling inflation, stock markets and growth rates have virtually wiped out lingering expectations for a Bank of England interest rate hike this year though the consensus for a rise early in 2015 has not budged, a Reuters poll found on Thursday.

Money Home, Money 17 Oct 2014

UK budget watchdog puts focus on labour market for new tax forecasts

LONDON - Britain's independent budget watchdog said on Thursday it will work with tax authorities to look at how strong jobs growth but weak earnings have dented income tax revenues, before it makes new forecasts in December.

17 Oct 2014

Lower-than-expected UK government borrowing in 2013/14 down to cyclical factors

LONDON - Lower-than-expected British government borrowing in the last financial year was almost completely explained by cyclical factors that will disappear as the economy recovers, the Office for Budget Responsibility said on Thursday.

16 Oct 2014

Bank error in UK's favour may cut new borrowing by 10 billion pounds

LONDON - Britain may need to raise almost 10 billion pounds less from financial markets this year than previously thought, after its statisticians and the Treasury discovered a raft of errors in a key measure of borrowing needs.

16 Oct 2014

UK firms raise marketing spend in sign of confidence in recovery

LONDON - British companies raised their advertising budgets for the eighth quarter in a row in June to September, reflecting increased confidence in the country's broad-based recovery from recession.

16 Oct 2014

BoE won't tell markets what to expect on rates - Weale

HULL England - The Bank of England will not seek to react to financial markets' changing expectations about when the central bank will start to raise interest rates, a BoE policymaker said on Wednesday.

16 Oct 2014

Opinion

Felix Salmon

Britain’s fiscal failure

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 

Edward Hadas

Policy rhetoric flies in the face of reality

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 

Peter Gumbel

A devalued pound can’t save the economy

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 

Robert Cole

Homeowner tax switch would help

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 

Kathleen Brooks

In defence of Osborne

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 

Laurence Copeland

Budget day cheer is here again

Budget Day again, and the pressure on Chancellor George Osborne is rising ominously. There is little agreement about what needs to be done, but complete agreement that something has to change because the state of Britain’s economy is simply awful.  Commentary 

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