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 consumer morale edges down as economic outlook clouds

LONDON - British consumer morale edged down for a second month in October as households showed less faith in the outlook for the economy, a survey by researchers GfK showed on Friday.

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Momentum in Britain's housing market eases further

LONDON - British house price growth eased for a second month in a row on an annual basis in October, adding to evidence that a previously rapid upturn in Britain's housing market is losing steam, a survey showed on Thursday.

Money Home, Money 30 Oct 2014

New legal powers for Bank of England to regulate mortgages

LONDON - The government published proposals to give the Bank of England new legal powers to control residential mortgage lending on Thursday, but said it wanted more evidence before deciding on a BoE request to regulate lending to landlords.

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UK bad bank warns about dangers of interest rate rise

LONDON - Britain's 'bad bank' has begun contacting around 20,000 customers it thinks might have problems repaying their mortgages when interest rates start to rise, Chief Executive Richard Banks told Reuters on Thursday.

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First BoE hike still seen in Q1 but economists less sure - Reuters poll

LONDON - A rise in British interest rates in the first quarter of 2015 is now much less certain, according to a Reuters poll in which almost half the economists questioned thought the hike would come later in the year.

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UK lenders cut back on new mortgages as housing market slows

LONDON - British lenders approved the fewest mortgages in more than a year last month, adding to signs that previously rapid growth in Britain's housing market and the broader economy is slowing.

Money Home, Money 29 Oct 2014

UK's private-sector growth slows to seven-month low

LONDON - Growth in Britain's private sector has slowed to its weakest since March, an industry survey showed on Wednesday, another sign the rapid rebound over the past year is giving way to a more sustainable pace of expansion.

29 Oct 2014

UK inflation expectations hold steady at five-year low

LONDON - Britons' expectations for inflation over the next 12 months held steady in October at 1.9 percent, matching the lowest reading since 2009, a monthly poll by YouGov showed on Wednesday.

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Bank of England's Cunliffe says can keep rates low for longer

LONDON - The Bank of England can afford to keep interest rates at their current record low for longer than thought, due to weak pay, low inflation and a darker international outlook, Deputy Governor Jon Cunliffe said on Tuesday.

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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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