The Tories and Labour both seem happy to throw fiscal responsibility to the wind November 8, 2019 The “money men” are at it again. Yesterday, chancellor Sajid Javid and shadow chancellor John McDonnell took part in a spending showdown, announcing pledges and making their cases for different economic visions for Britain in years to come. Labour’s spending promises are staggering. Essentially doubling the figures from the 2017 manifesto, the party has ditched [...]
Pound sinks as Bank of England comes closer to interest rate cut November 7, 2019 The pound fell sharply this afternoon as the Bank of England came closer to signalling an interest rate cut. The Bank’s Monetary Policy Committee voted in favour of holding rates for the 15th month in a row, but traders were surprised as two members voted for an immediate rate cut. Read more: Bank of England: [...]
Bank of England: Brexit deal and trade wars will limit UK growth November 7, 2019 Boris Johnson’s Brexit deal and global trade tensions are likely to hold back growth in the UK economy over the next three years, the Bank of England has said. British national income will be one per cent lower by 2022 than originally thought, the Bank predicted today in its quarterly deep-dive into the economy. Read [...]
General Election 2019: Sajid Javid pledges ‘new fiscal rules for a new economy’ November 7, 2019 Chancellor Sajid Javid has confirmed a Conservative government would deploy new fiscal rules to create a “decade of renewal”. Speaking from Labour safe seat Wythenshaw Javid said the 2020s would be “Britain’s best decade yet”, and confirmed the introduction of new fiscal rules, so that the government can borrow without being irresponsible. Read more: Labour [...]
The FCA is proposing a radical change to the UK’s regulation system November 7, 2019 With the recent headline-grabbing noise coming from Westminster, few paid much attention to the key announcements coming out of the Financial Conduct Authority (FCA). Senior figures from the regulator have been giving some of the most significant speeches about the future of financial services in years. But are the right audiences listening to this talk [...]
Parties’ spending pledges under scrutiny on day of missed Budget November 6, 2019 Boris Johnson’s plans to increase public spending and cut taxes leave “very little scope” for meeting the Conservatives’ pledge to reduce the national debt, the Institute for Fiscal Studies (IFS) has said. Read more: UK public spending to hit 1970s levels after election, think tank says In a warning to both the Tories and Labour, [...]
Why the Bank of England should keep interest rates on hold November 6, 2019 The Bank of England must leave interest rates on hold tomorrow and resist the urge to tinker until Britain’s economy is out of the General Election and Brexit fog, City PM’s panel of expert economists has said. Read more: Sajid Javid delays appointment of new Bank of England governor Much has changed in British politics [...]
No-deal Brexit remains biggest risk to European growth, IMF warns November 6, 2019 A no-deal Brexit remains the biggest threat to the economies of Europe, the International Monetary Fund (IMF) has warned, and could further damage already very weak growth. Read more: IMF warns 2019 global growth will fall to lowest since financial crisis The words of caution from the IMF come as Britain gears up for a [...]
Hope for German economy as factory orders beat predictions November 6, 2019 German industrial orders picked up by more than expected in September, official data has shown, providing a glimmer of home for the country’s weak economy. Read more: Eurozone ‘remains close to stagnation’ amid manufacturing slump Europe’s biggest economy has had a torrid 2019, thanks in large part to a slump in global demand hurting its [...]
Eurozone ‘remains close to stagnation’ amid manufacturing slump November 6, 2019 The Eurozone remains close to stagnation, according to a fresh set of gloomy manufacturing figures released this morning. The bloc’s rate of growth was among the weakest seen in the past six-and-a-half years during October, underlining fears of a slowdown in some of Europe’s biggest economies. Read more: UK economy to hit decade-low even with [...]
