Category archives: News in Review

“I’ve been really clear that the Budget… will require difficult decisions”  Last week, Chancellor Rachel Reeves, who faced criticism over the Winter Fuel Payment vote, said the Budget on 30 October is set to involve “difficult decisions,” on key areas such as spending, tax and welfare.   Her cautionary tone came hot on the heels of […]

“While the UK economy will perform better this year, it’s unlikely to be heading into the fast lane any time soon”  The UK economy will now grow at a faster rate than previously thought in 2024, according to a report by the British Chambers of Commerce (BCC) released last week.  The upgrade to 1.1% for […]

“Shop prices fell into deflation for the first time in nearly three years”  Fashion retailers trying to shift stock through summer sales helped shop prices to record their first annual fall for nearly three years, according to research from the British Retail Consortium (BRC).  Prices in August were down 0.3% from a year ago, the […]

“We can get through this together”  In a speech from the Downing Street Rose Garden on Tuesday, the Prime Minister told an audience of voters he met along the campaign trail that, while his government may not get everything right, everything it does will be with them in mind.  Keir Stamer said he intends to […]

“The UK economy has now grown strongly for two quarters”  The UK’s economy grew by 0.6% between April and June, according to the latest gross domestic product (GDP) figure released by the Office for National Statistics (ONS) on Thursday.  After slipping into recession at the end of last year, analysts now say the UK economy […]

“The construction sector appears to be in the early stages of a strong recovery”  The release last week of a closely watched construction survey offered optimism for the sector and further evidence of the UK’s economic recovery.  The S&P Global UK Construction Purchase Manager’s Index, a seasonally adjusted measure of activity in construction, jumped to […]

“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 […]

“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 […]

“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 […]

“The sheer scale of this near three-year inflation shock has reshaped the economy”  New research from the Resolution Foundation has shone a light on the impact of inflation on the UK economy. The prolonged spike in inflation has ‘left British households spending less and saving more’ as elevated prices have affected spending behaviour, living standards […]