Category archives: News in Review

“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. […]

“These are challenging times” In a week where droughts were officially declared across England, the Office for National Statistics’ (ONS) latest assessment of the UK economy revealed tough economic conditions. In the second quarter, the UK’s gross domestic product (GDP) fell by 0.1%, largely the result of a 0.6% monthly dip in June. According to […]

“The world’s three largest economies are stalling, with important consequences for the global outlook.” Last week saw the International Monetary Fund (IMF) release its latest economic assessment andforecast for the global economy. Following the effects of the pandemic and Russia’s invasion of Ukraine, the IMF now expects growth to slow to 3.2% in 2022, a […]

“Food sales picked up due to the Jubilee celebrations, but this was the only sector to report an increase” Retail sales edged lower last month as people reduced their fuel consumption, while households continue to struggle with fast rising prices. According to the most recent Office for National Statistics (ONS) data released last Friday, retail […]

“The economy rebounded in May with growth across all main sectors” Data released from the Office for National Statistics (ONS) last week shows how the UK economy returned to growth in May, recording expansion of 0.5% during the month. After shrinking in April and March, the growth experienced in May was higher than the flat […]