Bank of England and Fed to cut interest rates despite fiscal fears November 6, 2024 The Bank held rates at its last meeting in September, but signalled that further cuts were on the way if there continued to be progress on inflation.
Underground air to heat London’s iconic buildings November 6, 2024 Excess heat from London’s Underground will power iconic buildings in a new £1bn net zero scheme. This low-carbon network will soon channel excess heat from the Underground to power several sites in central London, namely Downing Street and the National Gallery. This comes following last week’s Budget, in which chancellor Rachel Reeves announced significant investments [...]
Investment can boost growth – if it comes with technological progress November 6, 2024 Economic theory does regard capital investment as a contributor to economic growth, but there is another essential factor: technical progress, says Paul Ormerod The need to boost the UK’s rate of economic growth was a central theme of the first budget delivered by Rachel Reeves, the Chancellor. Reeves emphasised the importance of increasing the amount [...]
Labour’s farm tax is pure class war November 6, 2024 Socialists targeting landowners is nothing new, but don’t expect the countryside to take Labour’s punitive farm tax lying down, says James Price “Buy land – they ain’t making any more of it”. With apologies to the Dutch and their reclamation efforts, this has been solid investment advice for a long time. But that’s about to [...]
Stamp duty hike: a ‘bitter but manageable pill to swallow’ for UK landlords November 5, 2024 Last week’s Budget announcement raised Stamp Duty Land Tax (SDLT) to five per cent tax, yet household landlords seem unfazed. London-based estate agent Benham and Reeves carried a survey to find out how UK landlords reacted to this hike. Concerns about potential hikes in capital gains tax (CGT) on property investments weighed heavily on landlords [...]
Government ‘would breach fiscal rules with minor rate rise’ November 5, 2024 The Chancellor would be in breach of her own fiscal rules if interest rates remain just 30 basis points higher than the fiscal watchdog forecasts, Office for Budget Responsibility (OBR) economists have said. Giving evidence to the Treasury Committee, OBR member Tom Josephs told MPs that his colleagues conducted analysis that found “a change of [...]
Why the Budget complicates life for the Bank of England November 5, 2024 Just when it seemed that inflation was finally coming under control, the government has announced a big increase in public spending.
The NHS will soon cost more than the GDP of New Zealand November 5, 2024 Spending on health and social care will hit £200bn by the end of this parliament – more than the entire economy of New Zealand – as Britain heads towards being a £1.5 trillion state, says Emma Revell New Zealand sounds, by all accounts, like a pretty sweet country. For a start, it is one of [...]
Reeves should be ‘thankful’ for avoiding Truss-style market crisis, analysts say November 4, 2024 Rachel Reeves should be “thankful” for avoiding the same fate as Liz Truss after the government's inaugural Budget triggered turmoil in the gilt market last week, analysts have said.
Did Rachel Reeves deliver a net zero Budget? November 4, 2024 The UK’s recent Budget included a series of measures which have prompted debate over its impact on achieving net zero. While Rachel Reeves announced significant investments in green energy, hydrogen projects and electric vehicle incentives, a number of her decisions have raised concerns about the effectiveness of the UK’s environmental sector. While Wednesday’s Budget announced [...]