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 

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UK's rebounding economy sees slowing industrial orders, retail sales

LONDON - Britain's brisk economic recovery is showing more signs of cooling after shoppers bought less, exporters took a hit from Europe's slump and banks approved the fewest mortgages in more than a year.

23 Oct 2014
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UK consumer confidence tumbles in October on job insecurity

LONDON - Consumer confidence in Britain took its biggest tumble in four years this month as workers in low-paid sectors worry about losing their jobs in an economic slowdown, a survey published on Thursday showed.

Money Home, Money 23 Oct 2014

BoE's Broadbent says market outlook for 'neutral' rates broadly right

LONDON - Market expectations for the levels of interest rates needed to stabilise Britain's economy seem reasonable, Bank of England Deputy Governor Ben Broadbent said on Thursday.

Money Home, Money 23 Oct 2014

UK factory export orders drop at fastest pace since Jan 2013

LONDON - British factory export orders fell in the three months to October at the fastest pace since January 2013, according to a survey from the Confederation of British Industry published on Thursday.

23 Oct 2014

UK September mortgage approvals fall to lowest level since July 2013

LONDON - Mortgage approvals in Britain fell in September to their lowest level since July last year, standing 9.9 percent lower than a year ago, industry data showed on Thursday.

Money Home, Money 23 Oct 2014

BoE's Broadbent says underlying interest rates to eventually rise

LONDON - The Bank of England is only likely to raise interest rates gradually, as headwinds to growth and long-term downward pressures on borrowing costs pass, the central bank's deputy governor said on Thursday.

Money Home, Money 23 Oct 2014

Talent shortage drives pay up in UK financial services, tech sectors

LONDON - A talent shortage in Britain's financial services and technology sectors has pushed salaries in the industry up by 2.6 percent in the last year, ahead of inflation and outpacing sluggish UK wage growth, research showed on Thursday.

Money Home, Money 23 Oct 2014

Plant revamps push UK car production down 3 percent in September

LONDON - British car production fell by nearly 3 percent year-on-year in September as plants prepared for new models, an industry body said on Thursday, but output in 2014 is still on course to hit its highest level in six years.

23 Oct 2014
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Bank of England minutes add to signs rate hike on back burner

LONDON - Most Bank of England policymakers are firmly against raising interest rates, seeing little evidence of inflation pressures while the slowing euro zone poses growing risks, minutes of their latest meeting showed.

Money Home, Money 22 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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