Reeves’ savings package to have minimal impact on inflation rise May 29, 2026 A discount campaign launched by Chancellor Rachel Reeves will “shave off” an expected rise in inflation, analysis has suggested, as economists have raised concern over Britons’ inflation expectations. Reeves’ move to delay a hike in fuel duty beyond September and offer VAT relief for businesses giving families reduced prices could strip 0.2 percentage points off [...]
Burnham hits back at Blair with more state control for ‘good growth’ May 29, 2026 Andy Burnham has called for stronger state intervention in the economy to deliver what he calls “good growth,” lashing back at Tony Blair’s blueprint for Labour’s future direction. The Greater Manchester mayor conceded areas of agreement with the three-time election winner — notably on the importance of economic growth— but accused Blair of a “gaping [...]
Top banks urge Rachel Reeves to expand small business lending scheme May 29, 2026 Top UK banks are lobbying Rachel Reeves to beef up the government’s small business lending scheme in a bid to unlock more capital to be lent to firms. A letter penned by UK Finance – the banking industry body that represents the likes of Barclays, Lloyds and Natwest – has called for the Chancellor to [...]
As it happened: Stocks rise on Iran peace hopes; Asda and Ocado deal May 29, 2026 Good morning and welcome back to the City PM liveblog. After investors kicked into sell-off mode on Thursday amidst spiking tensions as the US and Iran exchanged strikes, attention is quickly turning back to hopes of a peace deal this morning. US and Iranian negotiators are reported to have reached an agreement on a 60-day [...]
Property rich, pension poor: Meet the ‘sleepwalking’ generation May 28, 2026 Those born between 1965 and 1980 could suffer from weaker retirement prospects despite being deemed property rich, after failing to be included in generous pension schemes. The so-called Generation X are at risk of “sleepwalking” into an inadequate retirement, regardless of their high exposure to property, owning twice as many buy-to-let homes as Baby Boomers, [...]
Treasury still has £5bn to spend on Covid-19 – taking total bill to £385bn May 28, 2026 The Treasury has said it still needs to spend £5bn more on Covid-19 measures more than four years after the last lockdown restriction was lifted, taking the total estimated costs to taxpayers to £385bn. In a cost tracker update on Thursday, the government said it had already spent £380bn on Covid-19 support since the pandemic [...]
Milburn review: Youth unemployment crisis costs £125bn a year due to ‘broken system’ May 28, 2026 The crisis of nearly a million young people who are out of education, employment or training – known as ‘Neets’ – costs the UK economy up to £125bn a year, the Alan Milburn review has found, as both the government and the private sector were blamed for failing to address youth unemployment. An extensive report [...]
As it happened: Stocks plummet on latest Iran war tensions; Neets crisis a ‘human tragedy’ May 28, 2026 Good morning and welcome back to the City PM liveblog. The US and Iran are back to exchanging fire in a major blow to hopes of peace in the Middle East. Tehran struck an American airbase overnight in its retaliation for the US striking a military site that it said “posed a threat to US forces [...]
Tony Blair is the only sensible voice left in Labour May 28, 2026 After reading Tony Blair’s essay on the state of Britain (and the state of the Labour party) I was struck by the realisation that large parts of it sounded as if they’d come straight out of one of my own columns. Regular readers will know that I’ve often used this slot to point out the contradiction [...]
Mark Kleinman: Reeves revels in ring-fencing reform May 28, 2026 Mark Kleinman is Sky News’ City Editor and the man who gets the Square Mile talking in his City PM column Reeves revels in ring-fencing reform Is Rachel Reeves about to rip up ring-fencing? It was a question I posed in this column just over a year ago. Now, we have an answer of sorts. The Chancellor’s announcement [...]
