#uk-economy

#uk-economy

The UK government faces a 30bn funding gap, challenging future economic decisions. [ more ]

Londoners' experiences don't align with the touted economic growth; gaslighting claim made by Mayor Khan against Government.

The Mayor emphasizes that Londoners are struggling with rising costs despite the reported economic growth, advocating various policies to support them. [ more ]

UK unemployment rate rises to 4.2%, showing a cooling job market with potential interest rate cuts on the horizon. [ more ]

Britain needs to be on an economic war footing for growth

Creation of a National Economic Council for annual 3% growth target [ more ]

London and the south-east of England forecasted to benefit most from economic growth, widening regional disparities.

Despite national efforts to level up, regional growth gap continues to widen, with London and south-east outpacing other regions. [ more ]

The UK economy is 10% smaller than it should be, requiring a Budget for growth not votes.

Chancellor faces limited options, needing significant cuts to public spending or tax increases. [ more ]

IMF opposes pre-election tax cuts from Jeremy Hunt due to looming 30bn deficit in UK's finances. [ more ]

Chancellor Jeremy Hunt expected to cut taxes with minimal public spending increases

UK economy showing resilience despite challenges [ more ]

The chancellor's Budget outlines tax changes and spending plans.

The 2024 spring Budget may include tax cuts and changes to National Insurance. [ more ]

Labour is planning to launch an AI strategy to capitalize on tech innovation and ensure the UK remains a global tech hub. [ more ]

Labour's Rachel Reeves criticizes government's over-optimistic statements on the economy, highlighting the disconnect with the public's concerns about the cost of living. [ more ]

Labour's Rachel Reeves challenges government's economic optimism, accuses of gaslighting public, and plans to draw battle lines with new economic ideas. [ more ]

AI can boost UK economy by 0.5% in five years

Labour party addresses public fears about AI impacting jobs by emphasizing transparency and trust-building [ more ]

Reeves acknowledges time needed for economic turnaround under Labour government

Labour highlights Conservative economic mismanagement [ more ]

Organizations warn Labour of soaring poverty without welfare reform

Pressure on Labour to address welfare policies amidst cost of living crisis [ more ]

Britain missed the chance to become a hi-tech superpower, losing many tech companies to foreign ownership except Sage. [ more ]

AI and cloud technology could significantly boost the UK's GDP over the next decade if factors like infrastructure, commercial awareness, and skilled workforce are addressed. [ more ]

Company insolvencies hit a 30-year high due to various economic factors, impacting large employers and supply chains. [ more ]

Number of company insolvencies in England and Wales hits 30-year high

Voluntary liquidations reach highest level since records began in 1960 [ more ]

The UK's GDP figures will determine if the country is still in recession. [ more ]

The UK is likely to have entered a recession at the end of 2023, with a contraction in GDP for the second consecutive quarter.

The economy was weak throughout the year, with estimates suggesting no growth between April and June and contraction between July and September. [ more ]

Wages in the UK have not grown as much as before the 2008 crisis, leaving workers significantly worse off. [ more ]

Real wages in the UK have not recovered since the 2008 global financial crisis, leading to a decade of stagnant pay growth. [ more ]

Former Conservative business secretary criticizes successors for abandoning industrial strategy

UK failing to keep up with US, EU, and China in promoting domestic advanced industries [ more ]

The UK needs an industrial strategy built on partnership with business to address its structural flaws.

A UK development bank, pension system reform, and mandatory worker representation on boards could help stimulate business investment and economic growth. [ more ]

London experienced a 20% increase in new businesses registered last year, making it the second fastest growing region in the UK.

The growth in female-founded businesses in the UK is increasing, with a record 164,000 companies incorporated by women in 2023. [ more ]

Tower Hamlets, Camden, and the City of London are the most economically valuable areas in the UK.

Camden and the City of London produce 65.9 of GVA per hour worked. [ more ]

Business confidence in London rose at the fastest rate of any UK region or nation in January to the joint-highest level in the country.

London businesses identified their top target areas for growth in the next six months as investing in their teams, introducing new technology, and entering new markets. [ more ]

Brexit is resulting in a loss of almost 100bn in annual UK exports, leaving the economy worse off than if it had remained in the EU.

Businesses producing sporting goods, toys, jewelry, and medical equipment have been particularly affected by border costs imposed by Brexit, leading to a 30% decrease in trade between 2020 and 2023 compared to if the UK had stayed in the EU. [ more ]

Brexit has not delivered on the promises made by campaigners.

The UK's economy has not been improved as a result of Brexit. [ more ]