Surge in government borrowing raises threat of more Reeves tax hikes, economists warn Economics A sharp rise in government borrowing costs fuelled by pay rises for public sector workers and rising debt payments has raised the threat of future tax hikes, according to economists. Borrowing rose to £17.4bn last month, marking the second highest October figure since monthly records began, according to official figures. The Office for National Statistics [...]
Exclusive: European rugby chief leaves after 10 years with EPCR Sport Business The Chief operating officer of European club rugby’s governing body Anthony Lepage is parting ways with EPCR after a decade, City AM can reveal. The news comes on the eve of the return of the Champions Cup and Challenge Cup, with Lepage set to move on to pastures new. He joined EPCR in 2014 as [...]
Inflation surprise scuppers hope of Christmas interest rate cut Economics A bigger than expected rise in inflation last month has all but scuppered hopes of a cut to interest rates by the Bank of England in December. While economists had been expecting rising energy prices to push inflation beyond the Bank of England’s two per cent target last month, a sharper than expected lift in [...]
Surging housing costs push inflation back above Bank of England target November 20, 2024 Inflation has risen back above the Bank of England’s two per cent target, the latest data has shown today. According to the latest figures from the Office for National Statistics (ONS) consumer price inflation (CPI) hit 2.3 per cent in October. The figure came in above economists projections. Economists had forecast CPI to come in [...]
Ex-Bank top economist Haldane says UK can strike Trump trade deal and boost EU ties November 12, 2024 The Bank of England’s ex-chief economist has said Keir Starmer can simultaneously strike a trade deal with Donald Trump and rebuild relations with the EU to show the UK is "open for business".
Autumn Budget 2024: All the key announcements October 30, 2024 After weeks of speculation, Rachel Reeves has delivered her first Budget as Chancellor to the House of Commons. The Budget was the first from a Labour government in 14 years and the first one ever by a female Chancellor. The 77-minute address to MPs featured a wide range of announcements which City AM has summarized [...]
How will the bond markets react to the Budget? October 30, 2024 For all the government’s promises of stability and hoped-for reductions in interest rates, UK yields on government bonds are now, in fact, very similar to the levels to which they rose under the ill-fated Truss government, says Paul Ormerod There has been a huge amount of speculation about the Budget. Later today we will of [...]
Column: Water, water everywhere… October 23, 2024 Or why the latest twist in the sewage tale suggests a rebalancing of Labour’s priorities England’s water system made a splash again this week, hitting the headlines as the government announced their latest move to – as they put it – clean up the industry. An independent review, led by none other than the former [...]
Arsenal are overachieving in the Premier League, but do fans appreciate it? October 10, 2024 In a parallel universe, Arsenal have already beaten Manchester City to the title. Forget Pep and Mikel’s inflamed war of words in this season’s scrap for the Premier League trophy; the Gunners have bagged the prize for outperforming their playing budget. Football, though, must ultimately be about fans’ dreams, not investors’ and bank managers’ bottom [...]
Oasis tickets and discounts ensure September spending doesn’t slide away October 8, 2024 Retail sales in the UK have held up despite a dip in confidence, driven by widespread discounts and a spike in entertainment spending after Oasis‘ tickets went on sale. Consumer card spending increased 1.2 per cent year on year in September, after returning to growth in August, according to data from Barclays. Discounting pushed spending [...]