Category archives: News in Review

“Our reforms deliver smarter regulation of financial services that will unlock growth and opportunity” Last Friday, as temperatures plummeted, Chancellor Jeremy Hunt announced a package of over thirty UK financial services regulatory reforms, dubbed the ‘Edinburgh Reforms,’ which the government intends will ‘unlock investment and turbocharge growth in towns and cities across the UK.’ A […]

“Even before the recent increases in mortgage rates, affordability was becoming more stretched across the UK” UK house prices fell by 1.4% month-on-month in November, according to the latest Nationwide House Price Index released last Thursday, the biggest monthly drop since June 2020. At £263,788, the non-seasonally adjusted November average price was 4.4% higher on […]

 “A balanced plan for stability” Last Thursday, Chancellor of the Exchequer Jeremy Hunt set out his plan to “tackle the cost-of-living crisis and rebuild our economy” in his first Autumn Statement. Striking a defiant tone, the Chancellor said that he was “taking difficult decisions”, while emphasising that the government’s priorities are “stability, growth and public […]

“The road ahead will be a tough one… but the economy will recover, and inflation will fall” At the latest meeting of the Bank of England’s Monetary Policy Committee (MPC) concluding on 3 November, Bank Rate rose by 0.75 percentage points, an eighth consecutive increase and the biggest for 33 years. Members of the MPC […]

“Our number one priority is economic stability and restoring confidence” Last week during the first meeting of the new Cabinet in Downing Street, Chancellor Jeremy Hunt announced the postponement of the government’s fiscal statement from 31 October to 17 November. Delayed by over a fortnight, the Medium-Term Fiscal Statement, due to be delivered in the […]

“We now need stability and unity” In another whirlwind week in UK politics, Liz Truss resigned last Thursday, the shortest serving Prime Minister in British history. Speaking outside Downing Street she said she could not deliver the mandate on which she was elected. Her resignation after just 44 days kickstarted a contest to find the […]

“We need to act now to reassure the markets of our fiscal discipline” Last Friday, in response to the mounting political crisis over his tax-cutting Growth Plan, Kwasi Kwarteng arrived back earlier than scheduled from the International Monetary Fund (IMF) conference in Washington, and headed straight to Downing Steet, where the Prime Minister sacked him […]

“We are experiencing a fundamental shift in the global economy” Last week, International Monetary Fund (IMF) Managing Director Kristalina Georgieva delivered a speech in Washington DC entitled ‘Navigating a more fragile world.’ She referred to the combined impact of a trio of challenges – recovery from the pandemic, the Ukraine invasion and climate issues – which have […]

“We live in rapidly moving times” The Prime Minister and Chancellor met with the Office for Budget Responsibility (OBR) on Friday morning to discuss the ramifications of their Growth Plan. In a move widely seen as an attempt to reassure financial markets following a challenging week, the Bank of England stepped in with a £65m […]

“Our entire focus is on making Britain more globally competitive” Last Friday, Kwasi Kwarteng outlined a series of tax cuts and measures aimed at boosting economic activity. HisGrowth Plan was built around three key priorities: reforming the supply-side of the economy, maintaining a responsible approach to public finances and cutting taxes to boost growth, he […]