UK economy

UK economy shrinks again in October ahead of Budget tax hikes

Speculation that taxes will be raised weighs heavily on households, which power roughly 60% of the economy

The Confederation of British Industry raised its forecast for next year to 1.3 per cent from 1.0 per cent.

UK’s CBI bumps up 2026 growth view due to ‘temporary’ budget boost

[MANCHESTER] The Confederation of British Industry on Friday bumped up its economic growth forecast for next year, citing a temporary boost to government spending following the budget, while warning t...

Since the pandemic and the cost-of-living crisis, consumers have turned away from discretionary spending, focusing on essentials such as food and energy.

UK retail sales growth cools as budget offsets Black Friday

Total retail sales increased just 1.4% year-on-year in November, below the 12-month average

Hiring continued to fall, albeit at a softer rate, and the number of candidates looking for work surged.

UK pay growth accelerates to five-month high, recruiters say

The labour market has deteriorated this year as firms cut jobs to cope with Labour’s increase in payroll taxes

On Sunday, Reeves said that boosting that fiscal buffer – which would have been very thin by historical standards – was her main concern, and required her to deliver a tough message to the public.

UK's Reeves says she did not mislead public on the Budget

In a speech on Nov 4, she appeared to lay the groundwork to raise income tax rates, citing a “weaker than previously thought” productivity performance

Billionaires have exited the UK amid the changes, which went further than measures outlined last year from the then-ruling Conservative Party.

UK expects bigger non-dom tax take despite billionaire exits

Meantime, other nations, such as Italy and Greece, have lured some of Britain’s globally mobile population

British finance minister Rachel Reeves says: “I am asking everyone to make a contribution, but I can keep that contribution as low as possible, because I will make further reforms to our tax system today to make it fairer and to ensure the wealthiest contribute the most."

UK’s Reeves comes back for more tax to bolster finances

Britain’s fiscal watchdog apologises after publishing Budget forecasts before finance minister delivers them in parliament

Labour-intensive sectors with razor-thin margins are hit hardest, leaving firms struggling to pass on costs.

UK insolvencies surge as higher business costs deepen strain

The increase reflects the impact of last year’s budget measures, including higher minimum wages and reduced reliefs

Britain's Chancellor of the Exchequer Rachel Reeves looks set to raise taxes by tens of billions of pounds for the second time since the election to stay on track to meet her borrowing targets.

UK employers tell Reeves to take ‘hard choices’ on budget

Reeves is no longer expected to break an election promise by raising income tax

Russell Napier, founder of The Library of Mistakes, says: "Financial history doesn't necessarily have the right answers, but it takes us to the right questions."

Investing? Look beyond S&P 500, says The Library of Mistakes’ founder

BT exclusive: The concept dedicated to the study of financial history comes to Singapore in 2027