UK Faces Bleakest Outlook in Generations as More Britons Stop Working:
bloomberg.com/news/articles/2023-02-02/boe-says-worker-shortage-and-brexit-leave-uk-gdp-growth-outlook-damaged
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| Last Updated | Feb 04 23 |
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UK growth forecast downgraded by IMF: GDP expected to increase by just 0.5% this year, the second-slowest rate in G7 after Germany
ft.com/content/47200602-d516-4312-a146-e011e937edef
Quick Glance: IMF upgrades global growth forecast despite risks
- The International Monetary Fund slightly raised its global growth forecast on Tuesday, noting that the economy had proven 'surprisingly resilient' despite inflationary pressures and monetary policy shifts.
- IMF's chief economist, Pierre-Olivier Gourinchas, indicated that the global economy is heading for a 'soft landing,' with risks to the outlook now broadly balanced.
- While advanced economies are expected to lead the growth, dim prospects in China and other major emerging markets could impact global trade partners, according to the report.
- Despite Tuesday's brighter outlook, global growth remains low compared to historical standards, partly due to weak productivity growth and increasing geopolitical fragmentation.
Liz Truss says the EU ‘only understands pain’: Ex-PM laments the fact her predecessor Theresa May wasn’t more ‘hardheaded.’
politico.eu/article/liz-truss-says-britain-should-played-hardball-brexit-negotiations-eu-only-understands-pain/
Quick Glance: Liz Truss: From Premiership to Resignation in 49 Days
- Liz Truss became Prime Minister and resigned after just 49 days, despite her husband's prediction that 'it would all end in tears'.
- Truss assumed office on September 6, 2022, succeeding Boris Johnson, but faced early challenges and personal struggles.
- Despite implementing economic measures and facing political turbulence, Truss resigned after a mini-budget led to a pensions crisis.
- She reflects on her failed tenure, attributing blame to structural issues and drawing parallels to the controversial football manager Brian Clough.
Bank of England’s Andrew Bailey says rate cuts ‘in play’ in upbeat take on UK economy
ft.com/content/964d883f-4f47-4f2f-bd13-b44858efa075
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Official data confirms UK economy slipped into recession last year: Figures offer little cheer to Rishi Sunak as his Conservative party trails heavily in opinion ...
ft.com/content/f244e2af-c0aa-469e-a0c4-dab4da7a3ca7
Paid articlePaid Can the economy rescue Britain’s Conservatives? : Polling shows Liz Truss’s disastrous mini-Budget looms large in voters’ minds ahead of general election
ft.com/content/064dff95-badf-4f3c-bbca-8dc1c8afda4c
UK recession: New GDP figures show UK entered recession in 2023 - BBC News: The UK economy shrank by 0.3% in the final quarter of 2023 - the second quarter in a ...
bbc.co.uk/news/live/business-68297420
UK creative industries warn ‘superpower’ status at risk without investment: Artists and executives call on next government to focus on ‘reinvigorating our ...
ft.com/content/cc8f4851-93d1-4da0-a621-fdf59e5af7ff
'Empty shelves' warning amid new 'last-minute' post-Brexit charge: The Cold Chain Federation's chief executive, Phil Pluck, said the changes had been ...
walesonline.co.uk/news/uk-news/empty-shelves-warning-last-minute-28934567
Britain: Increase in political violence: British MPs are being targeted, more and more are being murdered and threats of violence. The war in Gaza in particular ...
zdf.de/nachrichten/politik/ausland/grossbritannien-england-politik-gewalt-100.html
Bank of England to start cutting in Q3 but strong chance of Q2 move - Reuters poll
reuters.com/business/finance/bank-england-start-cutting-q3-strong-chance-q2-move-2024-03-14/
UK interest rates: Bank boss says cuts 'on the way': The Bank of England has kept the cost of borrowing at 5.25% for the fifth time in a row.
bbc.com/news/business-68618436
Theresa May won’t stand in next UK election: The former PM cited her increasing workload as her reason for quitting as the Maidenhead MP.
politico.eu/article/theresa-may-announces-she-will-stand-down-at-next-election/
Jeremy Hunt tells James Dyson to ‘stand for election’ after fiery meeting: Chancellor retaliates against UK inventor’s criticism in private Number 11 meeting
ft.com/content/c2e1c100-c795-4e24-b0de-9a8e006dc255
Paid articlePaid Is Brexit king Nigel Farage the answer to Tory woes?: Conservatives continue to look to the man who led the UK out of the EU as their poll ratings tank.
politico.eu/article/nigel-farage-liz-truss-united-kingdom-brexit-reform/
Quick Glance: Farage Claps Back at Starmer Over PM's Stance on UKIP Return
- Nigel Farage responds to criticism from Sir Keir Starmer after PM avoids questions on ex-UKIP leader potentially rejoining Tories.
- Farage accuses Starmer of launching an unusual attack and highlights agreement with many Labour voters.
- Rishi Sunak emphasizes Conservative diversity and their representation of modern Britain compared to Labour.
- Liz Truss is critically questioned by Starmer and Sunak regarding her potential role within the Conservative Party.
UK on track to exit recession despite slower services growth, PMI data shows: Britain's economy looks on track to exit recession when official first-quarter ...
reuters.com/world/uk/uk-track-exit-recession-despite-slower-services-growth-pmi-data-shows-2024-04-04/
Juncker’s chain-smoking made Theresa May ‘croak,’ Brexit book reveals: New book says the former UK PM was too polite to complain about EU Commission chief’s ...
politico.eu/article/chain-smoking-jean-claude-juncker-made-theresa-may-croak-brexit-book-reveals/
Brexit: This is how leaving the EU is affecting the British economy: The end of January marks the fourth anniversary of Brexit. New customs regulations apply on ...
zdf.de/nachrichten/politik/ausland/brexit-britische-wirtschaft-eu-100.html
Brexit caused the Tory infighting that will cost us the election, ex minister says
inews.co.uk/news/politics/brexit-caused-tory-infighting-cost-election-2992901
Rishi Sunak 'rejects post-Brexit youth mobility scheme' : Downing St said it wants to make deals with individual EU member states
standard.co.uk/news/uk/rishi-sunak-post-brexit-youth-mobility-scheme-eu-uk-b1152731.html
Quick Glance: UK rejects mobility agreement with Europe for young people
- The government has ruled out any post-Brexit deal that would make it easier for young Britons to live, study, and work in the EU.
- Labour also rejected the possibility of an EU-wide scheme and prefers to improve the UK's working relationship with the EU within their red lines.
- A campaign group urged MPs to listen to British young people who deserve the opportunities presented by the plan.
- The EU suggested that Britain had expressed interest in youth mobility deals with individual member states but favored an EU-wide approach to ensure equal treatment for all members.
UK inflation slows to lowest level in almost 2.5 years | kuwaittimes: UK inflation slows to lowest level in almost 2.5 years - Business - LONDON: Britain’s ...
kuwaittimes.com/article/12306/business/uk-inflation-slows-to-lowest-level-in-almost-25-years/
Quick Glance: UK Inflation Rate Drops to 3.4% - Lowest Level in Almost Two and a Half Years - BBC News
- The UK inflation rate fell to 3.4% for the year to February - the lowest level in almost two and a half years.
- Economists predict that inflation is likely to hit the Bank of England's target of 2% this summer.
- Cost of living is increasing while wage growth is outpacing inflation.
- Housing costs are rising faster, putting pressure on renters and homeowners.
Sack Andrew Bailey as Bank of England boss, says Liz Truss: Ex-PM describes the Treasury, the Bank of England and the Office for Budget Responsibility as a ...
politico.eu/article/chief-bank-england-andrew-bailey-should-be-sacked-liz-truss-says/
Sunak Claims N. Ireland Win, But Voters Still Blame Tories For Brexit Strife: Prime Minister Rishi Sunak urged Northern Ireland’s political leaders to get on ...
trib.al/iAJKSGN
Quick Glance: Historic Milestone: First Nationalist Minister Appointed in Northern Ireland
- Michelle O'Neill from Sinn Fein has made history as the first nationalist minister in Northern Ireland.
- The deputy first minister will be Emma Little-Pengelly from the Democratic Unionist Party (DUP).
- According to the Good Friday Agreement, the deputy minister has the same authority as the first minister.
- In her speech, which started in Irish, Ms O'Neill said: 'Today opens the door to the future - a shared future.'
UK statistics chief criticises Treasury ministers for misleading tax claims: Latest rebuke follows similar recent interventions over comments by Rishi Sunak
ft.com/content/aebbfe9b-d33f-485c-a631-3ff072ecca6c
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UK lawmakers seek urgent clarity on new post-Brexit border controls: British lawmakers have called on the government to "urgently" clarify what will happen next ...
reuters.com/world/uk/uk-lawmakers-seek-urgent-clarity-new-post-brexit-border-controls-2024-04-25/
It’s hard to be proud of the FTSE 100: The FTSE's poor performance over so many years means London is now a relatively unattractive place to list equities.
spectator.co.uk/article/its-hard-to-be-proud-of-the-ftse-100/
Rishi Sunak faces PMQs as UK inflation drops to a two-and-a-half year low : The Prime Minister has said that his 'economic plan is working'.
news.stv.tv/politics/rishi-sunak-faces-pmqs-as-uk-inflation-drops-to-a-two-and-a-half-year-low
Theresa May to stand down as an MP: The former prime minister's highs and lows in Downing Street
news.sky.com/story/theresa-may-to-stand-down-as-an-mp-the-former-prime-ministers-highs-and-lows-in-downing-street-11736508
Will UK households enjoy a better year in 2024?: Rebound in retail sales fails to mask broader picture of Britain’s sluggish outlook, economists say
ft.com/content/e5341d10-6a1f-4162-be22-d10e2d591d69
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UK govt woos votes with more pre-election tax cuts - News | Khaleej Times: Analysts say the cut was modest, as elevated inflation forces up repayments on state ...
khaleejtimes.com/world/europe/uk-govt-woos-votes-with-more-pre-election-tax-cuts
Theresa May: The Brexit prime minister who should have been great: Westminster says farewell to Britain’s second female premier brought down by her party’s civil ...
politico.eu/article/theresa-may-brexit-prime-minister-who-should-have-been-great/
UK Criticized for ‘Lack of Clarity’ on Benefits of Joining CPTPP Trade Deal: British lawmakers said the benefits of the UK’s accession to a major trans-Pacific ...
bloomberg.com/news/articles/2024-02-19/uk-criticized-for-lack-of-clarity-on-benefits-of-joining-cptpp-trade-deal
PM announces more funding for farmers amid fears of declining rural support for Tories
itv.com/news/2024-02-20/pm-announces-more-funding-for-farmers-amid-fears-of-declining-rural-support
UK businesses on edge as post-Brexit customs checks come into effect: The UK will finally roll out delayed post-Brexit border checks as of Wednesday on food ...
rfi.fr/en/international/20240131-uk-businesses-on-edge-as-post-brexit-customs-checks-come-into-effect
Last-minute Brexit bill risks higher food prices, UK business groups warn: British business groups are warning that newly announced post-Brexit charges on plant ...
cnn.com/2024/04/04/business/post-brexit-food-import-charge/
After two years of negotiations: British-Canadian trade agreement collapses over beef and cheese
spiegel.de/wirtschaft/service/britisch-kanadisches-handelsabkommen-scheitert-an-rindfleisch-und-kaese-a-8a698e54-801d-4ec3-8aac-b7990f3b427d
Jacob Rees-Mogg’s TV show broke UK broadcasting rules: GB News receives rap on the knuckles over shows hosted by three Conservative politicians.
politico.eu/article/jacob-rees-mogg-tv-conservatives-channel-gb-news-broke-uk-broadcasting-rules/
Quick Glance: GB News Programs Presented by Tory MPs Breach Ofcom Rules
- Ofcom found that five episodes of GB News programs presented by Tory MPs have violated impartiality regulations.
- The shows in question included two hosted by Sir Jacob Rees-Mogg and three co-hosted by former Pensions Secretary Esther McVey and Philip Davies.
- Ofcom determined that these episodes aired in May and June 2023 did not adhere to Rules 5.1 and 5.3 of the Broadcasting Code, highlighting the importance of impartiality in news presentation.
- While GB News had previous breaches, this marks the first violation of Rules 5.1 and 5.3, potentially leading to sanctions if further infractions occur.
UK Says Brexit Border Checks Will Begin Next Week as Planned: The UK is pushing ahead with Brexit-related border checks next week, despite warnings from ...
trib.al/Am7ewkr
Farewell to Theresa May, the best-worst Tory prime minister in British history: She was one of five Tory leaders, each disastrous in different ways ...
inews.co.uk/opinion/farewell-theresa-may-best-worst-tory-prime-minister-british-history-2946719
Britain’s Brexit border is finally here. No one is happy: Checks on EU exports to the U.K. have been repeatedly delayed — but the coming months will test firms ...
politico.eu/article/britains-brexit-border-is-finally-here-no-one-is-happy/
UK nears agreement on cooperation with EU border force: British Prime Minister Rishi Sunak's government will announce in the coming days an agreement for ...
reuters.com/world/europe/uk-nears-agreement-cooperation-with-eu-border-force-2024-02-19/
Rishi Sunak faces PMQs amid reports of attempts to depose him: Sunak will undertake the last Prime Minister’s Questions before the House of Commons breaks for ...
news.stv.tv/politics/rishi-sunak-faces-pmqs-amid-reports-of-attempts-to-depose-him
Jeremy Hunt's latest economic decisions show how boxed in he is: The chancellor is considering the abolition of the non-dom tax status in next week’s budget ...
itv.com/news/2024-02-28/jeremy-hunts-latest-economic-decisions-show-how-boxed-in-he-is
UK shoppers pick up their spending, signalling quick end to recession: British retail sales jumped by the most in almost three years in January as consumers ...
reuters.com/business/retail-consumer/uk-retail-sales-rise-by-more-than-expected-34-january-ons-2024-02-16/
UK food prices to keep rising through 2024, industry researcher cautions: British food and drink prices will continue to rise in 2024, contributing to an ...
reuters.com/world/uk/uk-food-prices-keep-rising-through-2024-industry-researcher-cautions-2024-01-25/
Brexit, fields of wheat and hostile environment: Theresa May's career in politics
itv.com/news/2024-03-08/brexit-fields-of-wheat-and-hostile-environment-mays-career-in-politics
Brexit: Farmers furious at impact of quitting EU told by PM that he has put them 'at forefront of trade deals”
standard.co.uk/news/politics/brexit-farmers-protest-london-tractors-trade-deals-imports-parliament-b1147758.html
Quick Glance: Farmers Rally for Food Security
- Farmers protest against food imports and labeling.
- Protests highlight the growing challenges faced by British farming.
- Criticism of trade deals and inadequate food security monitoring.
- Call for European regulation alignment to support British farmers.
Bank of England says rates 'under review' as it treads carefully on cuts: The Bank of England kept interest rates at a nearly 16-year high on Thursday but ...
reuters.com/markets/europe/bank-england-says-rates-under-review-inflation-seen-below-2-2024-02-01/
Brexit hitting UK economy and damage set to worsen with new trade barriers, Budget watchdog warns
standard.co.uk/news/politics/brexit-budget-britain-economy-trade-eu-borders-b1143844.html
UK consumer sentiment returns to two-year high, GfK survey shows: British consumer sentiment returned to a two-year high this month as households took a more ...
reuters.com/world/uk/uk-consumer-morale-falls-unexpectedly-february-gfk-survey-shows-2024-02-23/
After 14 years in power, Britain’s Conservatives fear the misery of opposition : Prime Minister Rishi Sunak’s MPs could soon be startled by their irrelevance ...
politico.eu/article/united-kingdom-conservatives-opposition-general-election/
Rishi Sunak’s Brexit trade agenda is faltering. Are the Gulf states his last hope?
politico.eu/article/rishi-sunak-brexit-trade-agenda-faltering-gulf-states-last-hope-middle-east/
After two-year hiatus, Northern Irish government could return in days: The leader of Northern Ireland's largest pro-British party expressed optimism on Tuesday ...
reut.rs/3UkyBLT
A little economic cheer: Yesterday’s fall in inflation, faster than expected, is good news for the Prime Minister
inews.co.uk/news/politics/a-little-economic-cheer-2967367
Brexit, crisis 'hangover' keep UK bank shares undervalued, minister says: Shares of British banks are undervalued partly by lingering perceptions that they are ...
reuters.com/world/uk/brexit-crisis-hangover-keep-uk-bank-shares-undervalued-minister-says-2024-02-14/
Brexit: Border checks within weeks on EU imports will push up food prices, warns retail chief
standard.co.uk/news/politics/brexit-border-checks-eu-imports-food-prices-inflation-shops-b1148847.html
Quick Glance: Inflation down in German states, signaling national decline
- Inflation fell in six economically essential German states in March, indicating that national inflation will continue its downward trend.
- Economists will closely monitor national inflation data as Germany releases its figures a day before the Eurozone inflation data on Wednesday.
- German companies expected the lowest prices in three years in March, with forecasts of inflation falling below the European Central Bank's target in the upcoming months.
- An increasing number of ECB policymakers have backed rate cuts, with a June meeting appearing as the most probable time for action, although a meeting is also scheduled for this month.
France's Attal: You want 'Frexit'? Look at Brexit!: In today’s edition of the Capitals, find out more about Czech conservatives pushing back against the idea of
euractiv.com/section/politics/news/frances-attal-you-want-frexit-look-at-brexit-2/
Post-Brexit UK will take cues from US over calls for Gaza ceasefire, says expert: The UK is aligning with the US not only because it wants to establish itself on ...
inews.co.uk/news/world/post-brexit-uk-us-gaza-ceasefire-2907700
UK suffering long term ‘slump’ in trade and investment since Brexit: Britons are counting the cost of Brexit as the combination of the referendum ...
inews.co.uk/news/uk-trade-investment-slump-brexit-2901832
UK unveils DUP deal to restore Northern Ireland government: Britain unveiled a package of post-Brexit trading measures on Wednesday to strengthen Northern ...
reuters.com/world/uk/new-package-n-ireland-will-guarantee-smooth-flow-trade-uk-government-2024-01-31/
Boris Johnson’s government racked up £7K+ booze bill for Brexit day bash: The event was held on the day Britain officially left the European Union.
politico.eu/article/boris-johnson-government-bill-brexit-day-bash/
Britain's post-Brexit trade talks with Canada break down over dairy: The two nations have put a halt to their trade discussions after they couldn’t come to ...
euronews.com/2024/01/26/britains-post-brexit-trade-talks-with-canada-break-down-over-beef-and-cheese
EU, UK urge scientists to join research programme after Brexit concerns: EU and UK science chiefs on Monday (12 February) launched a push to attract scientists ...
euractiv.com/section/economy-jobs/news/eu-uk-urge-scientists-to-join-research-programme-after-brexit-concerns/
Britain is in decline and not just because of Brexit, says Spanish author: Ana Carbajosa says that Brexit has worsened divisions that already existed in British ...
inews.co.uk/news/world/britain-decline-brexit-author-2897379
Rising long-term sickness threatens UK economic recovery prospects: Britain's long-term illness problem is worse than previously thought, aggravating the ...
reuters.com/world/uk/rising-long-term-sickness-threatens-uk-economic-recovery-prospects-2024-02-13/
Brexit blamed for delays to nuclear power project that could lower energy bills: EDF's former CEO had pledged christmas turkeys would be cooked by the plant ...
inews.co.uk/news/brexit-blamed-delays-nuclear-power-lower-energy-bills-2871548
Fitch upgrades UK credit rating outlook to 'stable': Fitch upgraded its credit rating for UK government debt from "negative" to "stable" Friday ...
thedailystar.net/business/news/fitch-upgrades-uk-credit-rating-outlook-stable-3573966
Northern Ireland to restore government after UK parliament approves deal: Northern Ireland is set to elect a government on Saturday for the first time in two ...
reuters.com/world/uk/uk-parliament-approves-legislation-constitutional-status-northern-ireland-2024-02-01/
UK’s Sunak tells farmers ‘I’ve got your back’ as Tories chase rural votes: U.K. prime minister says his Tory Party “will be by your side” amid jitters over ...
politico.eu/article/uk-rishi-sunak-farmers-rural-vote-nfu/
Inflation shock could knock economic progress off course, OBR warns: Living standards are expected to recover more quickly than expected
inews.co.uk/news/politics/inflation-shock-economic-progress-obr-2943959
Key Tory Brexiteers set to back new Northern Ireland deal despite Johnson warning
inews.co.uk/news/politics/tory-brexiteers-northern-ireland-deal-johnson-2882907
UK says no post-Brexit checks on EU fruit, vegetables until Oct at earliest: Checks of fruit and vegetables entering Britain from the European Union will not ...
reuters.com/world/uk/uk-says-no-post-brexit-checks-eu-fruit-vegetables-until-oct-earliest-2024-01-31/
Allegra Stratton: The Feel-Meh Factor: Once again, we are obsessing about 0.1%.
bloomberg.com/news/newsletters/2024-04-17/allegra-stratton-the-feel-meh-factor
Quick Glance: Powell Warns of Lack of Progress on Inflation
- Federal Reserve Chair Jerome Powell emphasized that the U.S. economy, while otherwise strong, has not seen a return of inflation to the central bank's target.
- Powell mentioned that the current policy should remain in place as inflation has not declined quickly enough and there has been no further progress towards the 2% goal.
- Since July 2023, the Fed has maintained its benchmark interest rate in a target range between 5.25% and 5.5%, the result of 11 consecutive rate hikes.
- Financial markets have had to adjust their expectations for rate cuts this year as inflation has been higher than expected, and the Fed's policy continues to be dependent on data.
Tory plotters ‘poised to claim Sunak has betrayed Brexit’ with NI deal, sources say
inews.co.uk/news/politics/tory-plotters-rishi-sunak-betrayed-brexit-northern-ireland-deal-2881299
UK set for inflation rise and possible recession in double Budget blow for Hunt: The Office for National Statistics will publish data on inflation and GDP growth ...
inews.co.uk/news/politics/uk-inflation-rise-possible-recession-budget-hunt-2901153
The UK will keep falling into recession until we renegotiate Brexit: Something drastic must be done – it is remarkable that it took so long for the chickens to ...
inews.co.uk/news/business/uk-recession-brexit-2907801
Irish PM sees no 'red flags' in UK's Northern Ireland trade proposals: Ireland plans to study the details of proposed changes to post-Brexit trading rules for ...
reuters.com/world/irish-pm-sees-no-red-flags-uks-northern-ireland-trade-proposals-2024-01-31/
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