United Kingdom

Budget 2013


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

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.

UK, Business 22 Jul 2016

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

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.

UK, Business 21 Jul 2016

British slide into recession to force BoE's hand next month

LONDON Britain's economy will slide back into recession in the coming year, forcing the Bank of England next month to cut interest rates and start purchasing bonds again to support growth, according to a Reuters poll of economists.

20 Jul 2016

Income stasis lit fuse for political rocket

LONDON Slow growth leaving swathes of the population with no real income gains for another 10 years will foster more disaffection that just bakes in political volatility and economic stagnation.


UK inflation rises more than expected in June, boosted by airfares

LONDON - British inflation rose more than expected in June and matched one of the highest rates seen over the last year and a half, boosted by a surge in airfares as soccer fans flocked to France for the Euro championships.

Business, UK, Money Home, Money 19 Jul 2016

Bank of England's Weale sees little urgency to cut interest rates

LONDON Bank of England policymaker Martin Weale said on Monday he was unsure whether he would back an interest rate cut at next month's BoE meeting, in contrast to most of his colleagues who think stimulus is likely after Britain voted to leave the EU.

Business, UK, Money Home, Money 19 Jul 2016

More poor in work, but jobs downturn would hit them hardest - IFS

LONDON Britain's poorest households now rely more on jobs than government benefits for their income, reducing inequality but leaving them more vulnerable to any post-Brexit downturn in the labour market, research showed on Tuesday.

UK, Money Home, Money 19 Jul 2016

Brexit vote knocks UK manufacturers' confidence to two-year low - survey

LONDON British manufacturers' confidence about the outlook for their businesses and the wider economy has fallen to its lowest in at least two years after Britain's vote to leave the European Union, an industry survey showed on Tuesday.

19 Jul 2016

Fewer Britons visit shops after EU referendum - BRC

LONDON The number of shoppers heading to British high streets and retail centres fell at the fastest pace in more than two years in June, with the weeks around the country's vote to leave the EU hit particularly hard, a survey found.

Business, UK 18 Jul 2016


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