Category archives: News in Review

“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 […]

“With admiration we recall her lifelong sense of duty and dedication to her people“ The nation ground to a halt on Monday to observe a Bank Holiday for Her Majesty Queen Elizabeth II’s state funeral, rounding off an emotive period of mourning. Attended by world leaders, foreign royal families, heads of state, foreign dignitaries and […]

“ Queen Elizabeth II was the rock on which modern Britain was built“ Just two days after appointing her fifteenth Prime Minister, the world was shaken by the news on Thursday of the death of Her Majesty Queen Elizabeth II at Balmoral Castle, in Scotland. Speaking at Downing Street on the evening of the Queen’s […]

“I will deliver a bold plan to cut taxes and grow our economy, I will deliver on the energy crisis…” As widely expected, Liz Truss was announced as the new leader of the Conservative Party and the next Prime Minister on Monday afternoon at the QE2 conference centre in the capital. The Foreign Secretary was […]

“With the right support in place and with regulator, government, industry and consumers working together, we can find a way through this” Last Friday, Ofgem, the government regulator for the electricity and downstream natural gas markets in Great Britain, confirmed the energy price cap will increase from £1,971 to £3,549 a year from 1 October. […]