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 


UK first-quarter growth sapped by surge in imports

LONDON - Britain's economy sucked in imports in the first three months of 2015, and the services sector turned out weaker than first thought, contributing to soft overall economic growth.

28 May 2015

UK retail sales growth powers ahead in May - CBI

LONDON - British retail sales growth surged in May as expectations for sales next month hit their highest level in more than 26 years, an industry survey showed on Tuesday.

26 May 2015

BoE's Shafik sees "encouraging" signs in UK labour market data

MANCHESTER, England - Bank of England Deputy Governor Minouche Shafik said on Friday she saw "encouraging" signs from wage and labour market data, and that the causes of Britain's plunging inflation rate were not expected to last long.

22 May 2015

UK public finances improve more than expected in boost for Osborne

LONDON - Britain's public sector budget deficit narrowed more than expected in April, giving Chancellor George Osborne a boost as he renews his push to fix the country's public finances.

22 May 2015

Nationwide predicts higher house prices as profits rise

LONDON - Nationwide's Chief Executive Graham Beale said he expected Britain's housing market to be stronger this year after the UK's second-biggest provider of home loans reported a 32 percent rise in full-year profit.

Money Home, Money 22 May 2015

BoE's Weale eyes bigger inflation impact from oil price fall

LONDON - The past year's sharp oil price fall may have a longer-lasting effect on British inflation than the Bank of England assumes, but the central bank would be wise to look through such one-off effects, a BoE policymaker said on Thursday.

22 May 2015

UK retail sales surge as sun brings out shoppers

LONDON - British retail sales surged in April as consumers took advantage of falling prices and unusually warm weather encouraged shoppers to buy new clothes.

21 May 2015

UK factory orders slow in May, outlook still upbeat - CBI

LONDON - British factory orders slowed to their lowest level in seven months in May but manufacturers remained optimistic about the short-term outlook, the CBI's monthly industrial trends survey showed on Thursday.

21 May 2015

Osborne warns that EU is sleepwalking out of global economy

LONDON - The European Union risks pricing itself out of the global economy by excessive regulation, Chancellor George Osborne said on Wednesday, making the case for reforms in the bloc ahead of a referendum on whether Britain remains a member.

21 May 2015


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