Category archives: News in Review

“This balanced proposal provides much-needed predictability and stability to EU car and battery makers at a time of fierce global competitive pressure” Last week the European Commission proposed a three year postponement on the imposition of tariffs on electric vehicles (EVs) traded between the UK and the EU. Originally agreed as part of the Brexit […]

“A critical turning point” World leaders gathered in Dubai, United Arab Emirates (UAE), last Thursday for the 28th United Nations climate change conference (COP28). At the invitation of UAE President, Sheikh Mohamed bin Zayed Al Nahyan, King Charles addressed heads of state, leaders of governments and delegates at the opening ceremony. The King called on […]

“We are beginning to win the battle against inflation” Some positive economic news was delivered last week in the form of better-than-expected inflation data for October. The latest official release from the Office for National Statistics (ONS) revealed that in the 12 months to October, the Consumer Prices Index (CPI) rose by 4.6%, down from […]

“AI will bring new knowledge, new opportunities for economic growth… and the chance to solve problems we once thought beyond us” Ahead of this week’s first ever Artificial Intelligence (AI) Safety Summit at Bletchley Park, Rishi Sunak delivered a speech last Thursday on the global responsibility required to address and build a shared understanding of […]

“The UK economy is holding up but remains in a precarious state” The most recent data from the Office for National Statistics (ONS) highlighted a modest 0.2% expansion in August, following a sharp 0.6% reduction in July. The monthly growth was in line with expectations from a Reuters poll of economists. Contributors to the growth […]

“Our job is to get inflation down” At its meeting last week, the Bank of England’s Monetary Policy Committee (MPC) narrowly voted to maintain Bank Rate at 5.25%, ending a run of 14 consecutive increases. Five members voted to keep the rate at 5.25%, while the four dissenting voices all favoured another 0.25% increase to […]

“The broader picture looks more positive, with the economy growing across the services, production and construction sectors in the last three months” Latest official figures from the Office for National Statistics (ONS) estimate that the UK economy contracted by 0.5% in July. The reduction was higher than the 0.2% decline which had been forecast by […]

“Inflation has fallen rapidly over the past six months” The latest inflation data from the Office for National Statistics (ONS) has shown that the Consumer Prices Index (CPI) measured 6.8% in the 12 months to July 2023, down from 7.9% in June, the lowest rate since early 2022. Prime downward contributors during the month derived […]

“This is good news… we are making progress” Last Friday, newly released data from the Office for National Statistics (ONS) revealed a better-than-expected uplift in UK economic growth. The UK’s gross domestic product (GDP) rose by 0.5% on a monthly basis in June, beating market expectations of a 0.2% rise. This higher growth rate, the […]

“Inflation is falling and that’s good news” Last Thursday, the Bank of England’s (BoE) Monetary Policy Committee (MPC) voted to increase Bank Rate to 5.25%, a fourteenth consecutive rise that has taken Bank Rate to its highest level in 15 years. At the MPC meeting, the nine-member committee was split three ways, with six voting […]