WEATHER ALERT
Britain's Treasury chief vows to run the economy with 'iron discipline' amid demands for pay raises
Read full article: Britain's Treasury chief vows to run the economy with 'iron discipline' amid demands for pay raisesBritain’s new Treasury chief says she will run the economy with “iron discipline.”.
UK inflation falls by more than expected in February, triggering talk of lower interest rates
Read full article: UK inflation falls by more than expected in February, triggering talk of lower interest ratesPrice rises in the U.K. eased more than anticipated in February, raising expectations that the Bank of England may start cutting interest rates in the next few months.
Britain's Conservative government announces tax cuts it hopes can lift its ailing election fortunes
Read full article: Britain's Conservative government announces tax cuts it hopes can lift its ailing election fortunesBritish Treasury chief Jeremy Hunt is seeking to bolster spirits within his Conservative Party with a series of tax cuts that he hopes can turn the political tide ahead of a general election this year.
UK fell into recession at the end of 2023 as economy takes center stage in runup to general election
Read full article: UK fell into recession at the end of 2023 as economy takes center stage in runup to general electionThe British economy fell into recession at the end of 2023 as output shrank more than anticipated in the final three months of the year.
Britain's Conservative government warned against tax cuts by IMF economist
Read full article: Britain's Conservative government warned against tax cuts by IMF economistThe International Monetary Fund’s chief economist has advised the U.K. government to avoid further tax cuts amid expectations Prime Minister Rishi Sunak’s battered administration will do just that to win over voters in an election year.
Britain's Conservative government pushes tax cuts in hopes of bolstering electoral chances
Read full article: Britain's Conservative government pushes tax cuts in hopes of bolstering electoral chancesBritain’s Conservative government has sought to regain the political initiative with a series of tax cuts for businesses and individuals that it hopes will boost its chances in a national election next year that opinion polls suggest it will lose.
Around 3,000 jobs at risk at UK's biggest steelworks despite government-backed package of support
Read full article: Around 3,000 jobs at risk at UK's biggest steelworks despite government-backed package of supportAround 3,000 workers at Britain’s biggest steelworks face the prospect of losing their jobs as part of a government-backed package to make the plant “greener.”.
UK's Treasury chief accepts that recession may be necessary to get inflation down
Read full article: UK's Treasury chief accepts that recession may be necessary to get inflation downBritain’s Treasury chief says he would be prepared to see the British economy slip back into recession if further interest rate hikes are necessary to bring down inflation.
Government races to reassure US that banking system is safe
Read full article: Government races to reassure US that banking system is safeDepositors withdrew savings, and investors broadly sold off bank shares as the federal government raced to reassure Americans that the banking system is secure following two bank failures.
UK to ease financial regulations in post-Brexit shakeup
Read full article: UK to ease financial regulations in post-Brexit shakeupBritain is easing banking rules brought in after the 2008 global financial crisis in a bid to attract investment and secure London’s status as Europe’s leading finance center.
As British voters cool on Brexit, UK softens tone towards EU
Read full article: As British voters cool on Brexit, UK softens tone towards EUThe British government is denying a report that it is seeking a “Swiss-style” relationship with the European Union that would remove many of the economic barriers erected by Brexit.
Relief meets fear as UK budget calms economy but brings pain
Read full article: Relief meets fear as UK budget calms economy but brings painBritain’s Conservative government is defending its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation.
UK push to restore finances means higher taxes, energy bills
Read full article: UK push to restore finances means higher taxes, energy billsMillions of British people face higher taxes and steeper energy bills after the government announced an emergency budget aimed at restoring the government’s economic credibility and shoring up the battered public finances.
UK inflation accelerates to 41-year high of 11.1%
Read full article: UK inflation accelerates to 41-year high of 11.1%Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday.
Britain's vulnerable await PM's spending plans with anxiety
Read full article: Britain's vulnerable await PM's spending plans with anxietyMillions are hoping British Prime Minister Rishi Sunak finds money to help them survive a cost-of-living crisis when the government releases its spending plans Thursday.
UK’s self-billed 'Scrooge' promises tax rises, spending cuts
Read full article: UK’s self-billed 'Scrooge' promises tax rises, spending cutsBritain’s Treasury chief, Jeremy Hunt, has warned that a spending crunch and tax increases are on their way as he bids to fill the “black hole” in the country’s finances.
UK leader Sunak faces opposition in Parliament for 1st time
Read full article: UK leader Sunak faces opposition in Parliament for 1st timeRishi Sunak faced the opposition in Parliament for the first time as Britain's prime minister Wednesday, seeking to offer assurances that his new government would offer economic stability and continuity after his predecessor’s tax plans triggered market tumult.
Sunak, Mordaunt, Johnson? Contenders who could replace Truss
Read full article: Sunak, Mordaunt, Johnson? Contenders who could replace TrussLiz Truss’ resignation as British Prime Minister has triggered another leadership race — the second in just four months — for the U.K.’s fractured and demoralized Conservative Party.
Truss quits, but UK's political and economic turmoil persist
Read full article: Truss quits, but UK's political and economic turmoil persistBritish Prime Minister Liz Truss quit Thursday after a tumultuous and historically brief term in which her economic policies roiled financial markets and a rebellion in her political party obliterated her authority.
UK inflation accelerates to 40-year high as food prices rise
Read full article: UK inflation accelerates to 40-year high as food prices riseBritish food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation’s poorest residents.
UK Treasury chief in position of power as PM Truss struggles
Read full article: UK Treasury chief in position of power as PM Truss strugglesAs British Prime Minister Liz Truss struggles to retain her authority, one man is seen to be in the real position of power to restore order and credibility to the Conservative government and limit the damage caused by Truss’ economic plans.
New UK Treasury chief insists Truss retains control
Read full article: New UK Treasury chief insists Truss retains controlThe new U.K. Treasury chief has insisted that Prime Minister Liz Truss retains control of her government despite having to roll back her signature economic policies weeks into her premiership.
New UK Treasury chief: Mistakes were made, tax rises coming
Read full article: New UK Treasury chief: Mistakes were made, tax rises comingBritain’s new Treasury chief has acknowledged mistakes made by his predecessor and suggested that he may reverse much of Conservative Prime Minister Liz Truss’ tax-cutting plans, in order to bring stability to the country after weeks of economic and political turbulence.
UK's Truss drops tax cuts, axes Treasury chief amid turmoil
Read full article: UK's Truss drops tax cuts, axes Treasury chief amid turmoilBritish Prime Minister Liz Truss has abandoned a planned cut to corporation tax, scrapping a key part of an economic plan that sparked weeks of market and political turmoil.
Now there are 8: UK leader field slims as nominations close
Read full article: Now there are 8: UK leader field slims as nominations closeNominations in the race to replace British Prime Minister Boris Johnson have closed, with eight Conservative lawmakers securing enough support from their colleagues to make the first ballot.
Which Conservatives could succeed UK's Johnson if he falls?
Read full article: Which Conservatives could succeed UK's Johnson if he falls?British Prime Minister Boris Johnson managed to narrowly win a no-confidence vote from his own Conservative Party, but the result dealt a heavy blow to his authority.
UK's Johnson walks tightrope between politics, COVID surge
Read full article: UK's Johnson walks tightrope between politics, COVID surgeBritish Prime Minister Boris Johnson is walking a political tightrope as he faces increasing attacks from both friends and enemies amid a surge in COVID-19 infections.
Report says UK's slow virus lockdown cost 1000s of lives
Read full article: Report says UK's slow virus lockdown cost 1000s of livesA U.K. parliamentary report says Britain’s Conservative government waited too long to impose a lockdown early in the COVID-19 pandemic, a delay that cost thousands of lives.
UK's vaccine assessor opts against COVID jabs for children
Read full article: UK's vaccine assessor opts against COVID jabs for childrenThe independent body advising the British government on the rollout of coronavirus vaccines says the direct health benefits of offering the jabs to all healthy 12-to-15-year-olds are marginal.
UK's France curbs irk travelers; health chief tests positive
Read full article: UK's France curbs irk travelers; health chief tests positiveTourists and the travel industry are venting frustration and anger after Britain's government reversed a plan to ease travel restrictions on France just two days after they were due to start.
UK eyes traveler quarantine as virus toll passes 100,000
Read full article: UK eyes traveler quarantine as virus toll passes 100,000Britain's Prime Minister Boris Johnson reacts while leading a virtual press conference on the Covid-19 pandemic, inside 10 Downing Street in central London Tuesday Jan. 26, 2021. The government said 100,162 people have died in the pandemic after testing positive for the virus, including 1,631 new deaths reported Tuesday. U.K. statistics agencies say that the number of deaths registered that mention COVID-19 on the death certificate is more than 108,000. British authorities are banking on a successful vaccination program to help the country suppress the outbreak and ease the lockdown. People arriving in the U.K. from abroad also must show they have tested negative for COVID-19.