UK Economy

At the global summit, Rishi Sunak will call for British business leaders, entrepreneurs, and NGOs to assist with the rebuilding of Ukraine.

The concern centred around the potential impact on the gambling industry's revenue is a consequence of the proposed UK gambling reforms and their potential impact on the industry and broader economy.

Research finds UK workers' job confidence to be positive despite the cost of living crisis and a stagnant economy. However, data reveals a fall in social mobility, with many workers not having a degree in the top socio-economic levels.

In 2017-18 the figure was less than 500,000.

Sunak's Conservatives and the main opposition Labour party are jockeying for position ahead of a general election expected next year.

British businesses reported their busiest month in a year and consumers turned more confident.

Bank of England Chief Economist Huw Pill said on Thursday that the latest data on the economy, including a stagnation of gross domestic product in February, is "somewhat disappointing" even if it remains better than forecast by the BoE late last year.

Britain's economy stagnated in February as strikes by public workers hit output but a bounce in January was stronger than first thought, meaning a recession is a bit less likely to be brewing in early 2023, official data showed.

Sainsbury's, Britain's second-largest supermarket group, on Tuesday began offering lower prices on more than 300 items to the 18 million members of its Nectar loyalty scheme, rivalling a similar initiative at market leader Tesco.

A total of 153 pubs shut in the first quarter compared with 104 during the first three months of 2022

British homes sales recovered to within a whisker of pre-pandemic levels in March, representing a recovery from September when the failed economic plan of former prime minister Liz Truss sparked turmoil across markets, a survey showed on Wednesday.

A new analysis has found SMEs could see annual tax bills increase by around £9,000 for the bigger earners from this month. Firms making a profit of £200,000 can expect to see tax bills climb from £39,723 to £49,361.

Most British businesses expect their sales to rise over the coming year - an improvement from late 2022 - despite seeing no sales growth over the past three months, the British Chambers of Commerce said on Tuesday.

Britain's government borrowed more than expected in February, official data showed on Tuesday, but finance minister Jeremy Hunt may still hope that falling energy costs and inflation will offer leeway later this year for a pre-election tax cut.

Britain is trying to limit the burden on bond dealers as it prepares to sell the highest volume of government debt since the COVID-19 pandemic against a backdrop of turbulent markets, the head of the UK Debt Management Office (DMO) said on Wednesday.

A "green economy" and net zero emissions target should be key priorities in next week's Spring Budget announcement, says environmental expert Laura Hoy.

Ben Harrison suggests long-term investments and reforms for the UK's employment services, as the nation's economic challenges continue to haunt employers and employees alike.

Latest figures from the ONS reveal zero GDP growth in Q4 2022. A labour shortage is part of the problem, with the Chancellor urging people to return to work.

Britain's stocks and bonds are drawing strong buying interest, not quite a vote of confidence in the economy but a reassuring sign for policymakers that a deep investment freeze in British markets prompted by last year's upheaval has thawed.

Virgin Media O2 has outlined the impact its 350 apprenticeships in 2023 could have in crafting greater career pathways and helping the UK's economic state.

The recently released Oracle NetSuite study foreshadows optimistic growth for UK entrepreneurs and foreshadows a glimpse of hope for economic development.

Steps taken by the government so far to try to generate growth have been questionable.

Bank of England Chief Economist Huw Pill said on Monday that Britain is at risk of persistent inflationary pressure from a tight labour market, even if natural gas prices stabilise or fall, implying further rate rises may be needed.

British Prime Minister Rishi Sunak will set out his priorities for 2023 on Wednesday, using his first speech of the year to try to reassure his restive Conservative Party that he has what it takes to lead them into the next national election.

The government has already said it plans to lift a cap on bankers' bonuses, and to require UK regulators to prioritise growth and competitiveness, alongside market stability.

Britain saw the most widespread house price falls since early in the COVID-19 pandemic last month, as demand from buyers and sales activity slowed in the face of higher borrowing costs, a survey showed on Thursday.

Skipping lunch each day and watching television in blankets to keep warm is not how Ann and Keith Hartley envisaged their retirement in Burnley, the northern English town hit hardest by Britain's cost of living crisis.

The move would mirror aggressive rate-tightening by central banks worldwide as economies battle the highest prices in decades.

Britain still faces a 40 billion pound ($46 billion) budget hole that will need to be filled by tax rises as well as spending cuts, despite recent U-turns on measures proposed during Liz Truss's short-lived premiership, a think tank said on Tuesday.

Barclays beat forecasts with a small rise in third-quarter profit on Wednesday lifted by a record performance in fixed income trading, but costs and loan charges crept higher in a sign of ongoing challenges.