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 


Scottish "Yes" vote poses significant risk to UK growth forecasts

LONDON - If Scotland votes for independence next week, existing consensus forecasts predicting Britain will enjoy some of the best economic growth in the developed world could well be scuppered, a Reuters poll found.

12 Sep 2014

UK construction output stagnates in July as housebuilding slows

LONDON - British construction output stagnated in July as a rapid expansion in house building started to level off, causing annual growth to sink to an eight-month low.

12 Sep 2014

Bank of England's Carney says spring rate hike possible

LONDON - The Bank of England may start to raise interest rates next spring if the labour market continues to recover from the financial crisis, Governor Mark Carney said on Tuesday.

Money Home, Money 10 Sep 2014

UK economic growth quickens slightly in June-August -NIESR

LONDON - The pace of Britain's economic recovery picked up slightly in the three months to August, the National Institute of Economic and Social Research (NIESR) said on Tuesday.

09 Sep 2014

UK July industrial output shows biggest rise in six months

LONDON - British industrial output rose the most in six months in July thanks to strong electricity and gas output, but the recent trend remains weak and the country's trade deficit widened, official data showed on Tuesday.

09 Sep 2014

Central bank poses challenge for independent Scotland

LONDON - Scotland's nationalists may have to add the creation of a central bank and a currency to their plan to build a new country, if they win next week's independence referendum.

09 Sep 2014

Investors push back BoE rate hike expectations on Scotland worries

LONDON - Investors pushed back expectations of when the Bank of England will raise interest rates on Monday after a poll showed the pro-Scottish independence camp with a lead for the first time.

Ownership of UK gold up for negotiation if Scotland votes 'Yes'

LONDON - An independent Scotland could lay claim to a part of the United Kingdom's 310-tonne gold reserves if votes go in favour of the "Yes" campaign this month, with ownership of Britain's bullion hoard up for negotiation along with other assets.

08 Sep 2014

UK house price growth slows sharply in August

LONDON - British house prices barely rose during August, according to a survey from mortgage lender Halifax on Monday that added to other signs of moderation in the housing market.

Money Home, Money 08 Sep 2014


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