UK economy contracts sharply in April after Trump’s tariffs, records export fall
The UK economy contracted more than anticipated in April due to the impact of President Trump’s tariffs, as per the latest official data. The Office for National Statistics (ONS) reported…
Treasury minister Emma Reynolds has not ruled out the possibility of tax rises in the autumn budget, citing concerns about global economic instability affecting government spending plans. In an interview with Sky News, she defended the handling of the economy but did not confirm if additional revenue from taxation would be necessary. Reynolds stated that there is £9bn of fiscal headroom and emphasized the importance of a growing economy. Shadow chancellor Sir Mel Stride responded to the interview, suggesting that the government’s intentions regarding tax increases have been revealed.
A Treasury minister has declined to rule out potential tax increases at the upcoming budget in the autumn, citing concerns about the possibility of global economic instability impacting the government’s…
Reeves faces limited options in event of economic downturn
Described as a pivotal moment in British economic policymaking, the Labour government aimed to translate its economic philosophy into tangible fiscal actions, scrutinizing every aspect of public spending and reshaping…
Key Announcements from the 2025 Spending Review
Rachel Reeves has set out her spending review in the House of Commons. It outlines how much funding individual government departments will receive over the next three years and state…
Nintendo sells over 3.5 million Switch 2 consoles in first four days, UK stock remains low
Nintendo has unveiled the sales figures for the Switch 2 within the first four days of its launch. With over 3.5 million units sold globally since June 5, it marks…
What to expect in Rachel Reeves’ crucial spending review
The spending review is a significant event for the Labour government, with a total allocation of £600bn over the next three to four years. This review marks a crucial political…
The key points about the spending review in 2025
The spending review is a significant event in Britain’s economic calendar, with departmental spending totals being set for the years to come. This review occurs every few years, unlike the…
Poundland-owner nears sale of struggling discount chain
Poundland’s parent company is preparing to hand over tens of millions of pounds to help fund a takeover of the struggling British discount chain. Sky News has learnt that Warsaw-listed…
Jobless rate surpasses predicted peak with budget tax hikes taking effect
The UK’s jobless rate ticked up to 4.6% in April while payrolled employment has fallen sharply since, according to official figures covering the period when budget tax hikes on businesses…
Report warns half of SME housebuilders face insolvency by next election
Half of Britain’s 2,500 remaining smaller housebuilders could face insolvency by the end of this parliament due to industry regulations, according to a report set to be released this week.…