Four ways the Brexit deal could change Britain’s economy October 22, 2019 MPs are once again poised to vote on Boris Johnson’s “great new Brexit deal,” following the official release of the Withdrawal Agreement Bill by the government. Read more: Government threatens to pull Brexit bill if MPs vote against timetable Should the House of Commons today pass the bill alongside a motion to ram through legislation [...]
UK manufacturing firms planning lowest investment since financial crisis October 22, 2019 British manufacturing companies are planning to invest at the lowest rate since the financial crisis next year, a survey showed today, as Brexit uncertainty batters the sector. Read more: What’s in the WAB? Government’s Brexit bill explained The sector’s slowdown worsened in the three months to October, with orders for products falling at the fastest [...]
Government borrowing jumps by a fifth in run up to Brexit October 22, 2019 UK public borrowing shot up by a fifth in the first six months of the financial year, figures have shown, as promises of extra spending spelled the end of Conservative debt reduction. Read more: Sajid Javid promises to increase national living wage to £10.50 The UK public sector had to borrow £9.4bn in September to [...]
‘Legitimacy crisis’: Bank of England needs new policies and more transparency, says report October 22, 2019 The Bank of England needs major reform to maintain the public’s trust, including the creation of a credit policy and a new approach to choosing the next governor, research and campaign group Positive Money has said. Read more: Bank of England’s Mark Carney defends move not to publish governor shortlist However, some economists have pushed [...]
Sterling slips back from $1.30 after John Bercow blocks Brexit vote October 21, 2019 Sterling dropped back from a six-month high against the dollar this afternoon after House of Commons speaker John Bercow refused to let the government put its deal to parliament for the second time in three days. Read more: Speaker Bercow could obstruct Boris Johnson’s bid for Brexit deal vote The pound opened around 0.6 per [...]
German central bank warns economy may have shrunk in third quarter October 21, 2019 The German economy may have contracted in the third three months to September, the country’s central bank has warned, leaving the powerhouse of Europe close to falling into recession. Read more: Eurozone inflation falls to three-year low and below half ECB target A slump in manufacturing and exports lay at the centre of Germany’s economic [...]
One in four UK households now predict the Bank of England to cut interest rates October 21, 2019 The number of households expecting the Bank of England (BoE) to cut interest rates has risen to its highest level since the Brexit referendum, survey data showed today, as Britons remain downbeat about their financial health over the coming months. Read more: Bank of England deputy suggests Brexit deal could see rates rise Households are [...]
Hey, big spender: Institute for Fiscal Studies boss Paul Johnson on the end of economic orthodoxy October 21, 2019 In the eight years Paul Johnson has been director of the Institute for Fiscal Studies (IFS), he has seen three prime ministers, two general elections and – so far – one Brexit referendum. Read more: Government almost matching Labour’s spending pledges, says IFS If that wasn’t enough, Britain’s political leaders have recently torn up their [...]
IFS boss: Labour’s spending pledges likely to push up taxes for average earners October 21, 2019 The director of the Institute for Fiscal Studies (IFS) has said Labour’s spending plans are likely to lead to higher taxes for those on average incomes. Read more: Hey, big spender: Institute for Fiscal Studies boss Paul Johnson on the end of economic orthodoxy In an interview with City PM, Paul Johnson also said the [...]
Scotch whisky producers sound alarm as US slaps tariffs on EU goods October 18, 2019 Scottish whisky producers have warned that the US’s new 25 per cent tariffs on imports of single malt Scotch, which have come into force today, are “very bad news for our industry”. Read more: WTO gives go-ahead for $7.5bn of US tariffs on EU goods The Scottish whisky business is just one of many across [...]
