“Inflationary pressures have eased enough that we’ve been able to cut interest rates” Last week, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted by a narrow majority of 5 – 4 to reduce Bank Rate by 0.25%, to 5%. Four committee members expressed a preference to maintain it at 5.25%. This is the […]
Author archives: charlie
Economic Review – July 2024
UK growth stronger than expected Figures released last month by the Office for National Statistics (ONS) showed the UK economy grew faster in May than had been predicted, while survey evidence points to a more recent post-election pick-up in business activity. The latest gross domestic product (GDP) statistics revealed that economic output rose by 0.4% […]
News in Review
“Last Week’s Kings Speech… has the potential to give businesses the confidence they need to grow, invest and drive economic growth” Although the latest Confederation of British Industry (CBI) Business Trends Survey showed manufacturer optimism tempered slightly in July, there is an expectation that output is set to increase over the next quarter, with overall […]
News in Review
“I am determined to create wealth for people up and down the country” The government’s legislative agenda was set out in the King’s Speech last Wednesday. Delivered at the State Opening of Parliament, the government set out a package of bills it intends to introduce to Parliament in the coming sessions and months, in addition […]
Commercial Property Market Review – July 2024
A report from Carter Jonas indicates some growth in commercial markets recently According to MSCI, annual retail rental growth was 0.9% in May – the highest annual growth rate since 2016. While rental values have grown modestly since 2022, values are still 17% lower than the peak seen in 2018. In the retail warehouse subsector, […]
Residential Property Review – July 2024
A new Labour government – what next for housing? Following the Labour Party’s landslide election win, what changes might be in store for the UK housing market? In the Prime Minister’s introduction to the King’s Speech on 17 July, Sir Keir Starmer stated “Too many people currently live with the threat of insecurity and injustice, […]
News in Review
“We need to go further and faster if we are to fix the foundations of our economy” Last week, Chancellor Rachel Reeves announced the launch of a National Wealth Fund (NWF), which has been created to increase investment in the UK. A key Labour manifesto promise, the Chancellor pledged £7.3bn of state funding to “unlock […]
News in Review
“We need to move forward together” After a historic landslide victory for the Labour Party, Sir Keir Starmer became the seventh Labour Prime Minister on Friday. Securing a massive 412 seats, the incoming Prime Minister spoke outside 10 Downing Street for the first time, declaring “Our country has voted decisively for change, for national renewal […]
News in Review
“With consumer demand on shaky ground, an incoming government can help business by ensuring that the UK is the most attractive place to start, grow and run a business” New retail data from the Confederation of British Industry (CBI) has highlighted a softening in retail sales in June, with a similar expectation for July, as […]
Economic Review – June 2024
Prospect of rate cut moves closer While last month once again saw the Bank of England (BoE) leave interest rates unchanged at a 16-year high, the minutes to the Bank’s Monetary Policy Committee (MPC) meeting signalled a notable change in tone and economists now view a rate cut as the most likely outcome when the […]