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Economy
Banks reject plans for 99pc mortgages
Jeremy Hunt has cancelled plans for a scheme which would have allowed first-time home buyers to enter the housing market with a 1pc down payment, only days after it was revealed that the Treasury had considered the move.
Treasury…
Sunak promises to maintain triple lock for millions pensioners
If he wins the election, the PM will pledge to keep the Tory Party's manifesto.
If Rishi Sunak wins the next elections, he will keep the triple lock on pensions. This will make sure that payments keep pace with the cost of living for…
Jeremy Hunt is considering scrapping the ‘nondom’ tax status in the Budget
Jeremy Hunt has prepared an emergency Budget plan to scrap or reduce Britain's non-dom tax rules in the event he needed to raise billions to fund pre-election mass-market tax cuts.
Treasury insiders say the chancellor is working on a…
Prices of food drop for the first time since September
The first drop in food prices since September has occurred this month, providing further evidence that inflationary pressures will continue to ease throughout the year.
According to NielsenIQ and the British Retail Consortium's latest…
In a high-tax Britain, the middle-class favorites are first to go.
Harvey Jones is not likely to be able to provide you with a new, upscale kitchen for a long time. The Body Shop will no longer be the best place to buy ethically sourced creams. Burberry issued a profit warning while John Lewis closed…
Dominic Raab warns that China could push up UK energy prices further.
Dominic Raab warned that unless Western governments are able to break China's stranglehold on critical minerals required for the green energy transformation, households will face higher bills.
Former foreign secretary and deputy prime…
Barclays returns 10 billion pounds to its shareholders for betting on Britain
Barclays' chief executive has revealed a plan for reviving the bank's share price, which is currently in decline. The plan is to invest £30 billion in Britain in order to stimulate growth and deliver £10 billion to shareholders over three…
Interest rate policy may ‘crush’ recovery, ex-central banker warns
The Bank of England's ex-chief economist has cautioned policymakers about the risk of damaging the economy by maintaining high interest rates for an extended period.
Andy Haldane, who was chief economist for seven years until 2021, said…
What does the UK economy mean in terms of recession?
Last week, official figures revealed that the UK had entered a "technical recession" in the second half last year. The drop in Gross Domestic Product (GDP) was 0.3 percent in the fourth quarter after a 0.1 percent fall in the third.…
The Brexit bill: 100bn pounds of lost exports to the UK as jewellery and toys sales fall
New analysis claims that Brexit will leave a gap of nearly £100bn for UK exports each year, which would make Britain's economy worse than if they stayed in the European Union.
The UK's decision not to remain in the EU has led to a 30…
China’s consumers tighten their belts despite falling prices
Chinese electric vehicle prices are tumbling, but 38-year-old Beijinger Rio Liu is loath to part with cash for the new car he badly wants for his young family. For a start, he needs to sell his current car, but second-hand prices are…
The tax payer bill for benefits for workers of working age will reach 100 billion pounds this year
The first-ever increase in disability claims following the lockdown will see Britain's benefits bill for working age reach £100bn this year.
According to the Department for Work and Pensions' (DWP) forecasts, the cost of welfare…
China exports deflation around the globe as its economy falls apart
Global investors expect falling prices in China to push down inflation rates worldwide this year, as excess capacity in its slowing economy prompts Chinese exporters to cut prices on goods they sell abroad.
Prices of Chinese exports have…
China’s rising prices create uncertainty amid the property crisis
The pace of inflation in China is the lowest since the financial crisis. This has led to concerns about the weakening demand in the second largest economy in the world.
According to the National Bureau of Statistics, China's consumer…
High street battles back against online retail failures
As the "pendulum is swinging back to brick-and-mortar retailers", the number of online-only retail stores going bankrupt has reached a new record.
Price Bailey reports that 615 companies went bankrupt last year. This is a 13 percent…
ONS reveals the depth of the crisis as it finds 400,000 additional dropouts
The jobless crisis in Britain is more serious than thought. New estimates reveal that over 400,000 people have left the workforce due to long-term illness at a record high.
According to the Office for National Statistics, there are 9.25…
Savings of over a trillion pounds is held in low-interest savings accounts
More than £1 trillion of the nation's savings is sitting in accounts earning less than 2 per cent, while the base interest rate is 5.25 per cent, according to an analysis of Bank of England credit data.
The figures, which include money…
Companies say that high energy prices will increase their prices
Over 80 percent of British firms expect to raise the prices of their products and services in the next two-year period, raising concerns that inflation won't fall back to Bank of England target.
PwC conducted a survey on companies and…