Thanks for joining us. Britain remains gripped by a worklessness crisis as the number of people out of employment and not looking for a job hit a 13-year high. More than 9.5m people were classed as economically inactive in the three months to June, according to the Office for National Statistics, which was the highest...
Tag: UK economy
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UK pay growth slowest in nearly 2 years, surprise fall in unemployment
The number of people in work rose by 97,000, far more than the 3,000 forecast by economists. | Photo: Pexels 4 min read Last Updated : Aug 13 2024 | 10:10 PM IST British pay grew at its slowest pace in nearly two years, likely reassuring the Bank of England that inflation pressures are...
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How spiralling worklessness among British-born adults is fuelling a migration crisis
This is a big enough issue to affect the whole economy. “Without effective action to bring more people back into the workforce, sustained economic growth will be all but impossible,” she says. Rachel Reeves, the Chancellor, has promised action, sounding tough on benefits claimants. “Today’s figures show there is more to do in supporting people...
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UK should double public investment to boost long-run growth: Think tank
Asked if Labour had a chance of meeting this goal, NIESR Deputy Director Stephen Millard said no | Photo: Pexels 3 min read Last Updated : Aug 07 2024 | 8:51 AM IST Britain needs to spend an extra 50 billion pounds ($64 billion) a year on public investment to boost productivity and long-run...
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Global stocks plunge amid fears of US ‘collapse’ – latest updates
Global stocks plunge amid fears of US ‘collapse’ – latest updates Jump to content
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UK Labour government accused of laying groundwork for tax hike
Britain’s finance minister Rachel Reeves announced on Monday (July 29) that the country’s public finances are facing a £22 billion ($28.29bn) shortfall inherited from the Conservative government. “We have inherited a projected overspend of £22 billion ($28 billion) this year that was covered up by the party opposite,” said Reeves, who took office following Labour’s...
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UK faces fiscal hole if Labour govt grants above-inflation pay awards
3 min read Last Updated : Jul 22 2024 | 12:03 AM IST By Jennifer Creery The UK risks a return to strikes and a shortage of nurses and teachers if it doesn’t grant above-inflation pay rises, Chancellor of the Exchequer Rachel Reeves said, following reports of a fiscal hole as large as...
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House purchases delayed by ‘global payments issue’
House purchases have been delayed by a glitch with a global payment system that left banks unable to transfer large sums of money. The Bank of England said on Thursday it had suffered a temporary outage to its CHAPS interbank payment system, which handles more than £360bn on an average day. The Clearing House Automated...
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Britain to be fastest growing major European economy, IMF predicts
Britain to be fastest growing major European economy, IMF predicts Jump to content
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Labour is about to crush what’s left of Britain’s economy
Likewise, Amazon has made next day delivery of just about anything you can think of completely standard, creating vast wealth in the process. It might be worth pausing to consider what the entrepreneurs behind those successes had got right, but instead Labour’s allies just want to destroy them. Finally, while we may not always commercialise...
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Ed Miliband is the new face of Britain’s Net Zero folly
The electricity grid needs to be able produce around 45GW peak demand, and to supply all the population night and day, winter and summer. In our interconnected and sophisticated modern world power cuts are disastrous. To prevent power cuts, energy must be always available, and the only way to have that is to have it...
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New UK government faces tough economic challenge
Britain’s new Labour government has pledged immediate action to grow the economy after clinching a landslide election victory to oust the Conservatives, but its task could be hampered by strained state finances following huge Covid expenditures. The centre-left Labour administration led by Prime Minister Keir Starmer has promised investment in key areas such as health...