Tag

Uk Economy

All articles tagged with #uk economy

uk-economy8 days ago•4 min saved

UK Millennials Face a Long Climb Onto the Housing Ladder

Millennials in the UK still have far lower odds of owning a home than previous generations; decades of house price growth outpacing incomes and a long-term housing shortfall driven by high construction costs, planning barriers, and labor shortages have kept deposits high and rents consuming a large share of income. While recent price growth has slowed and some lenders are offering larger loans with smaller deposits, meaningful relief requires years of higher housing supply and planning reforms.

via BBC|

#home-ownership #housing-market #millennials

business12 days ago•6 min saved

Dimon urges UK to resist higher bank taxes for growth

JPMorgan Chase chief Jamie Dimon warned UK chancellor John Healey against higher bank taxes, saying extra levies could push financial jobs abroad and hamper growth; he spoke during a pre-budget lobbying push by the sector, noting existing bank levies and profit surcharges while banks debate the merits of windfall taxes.

via Financial Times|

#budget #business #jamie-dimon

business29 days ago•4 min saved

BoE's Lombardelli Signals Clear Stance Amid Energy Shock

BoE MPC member Lombardelli says her vote this month was decisive as the Bank of England held Bank Rate at 3.75% by a 6–3 margin. The decision comes amid volatile energy prices tied to the Middle East conflict, with traders trimming bets on a September rate hike to under 40%. The MPC warned energy shocks could lift inflation and stressed readiness to act if needed, noting the outlook remains sensitive to unfolding events.

via Forex Factory|

#boe #business #energy-prices

business1 month ago•8 min saved

Brits Prefer £50k Now Over a 50/50 £1m Shot, YouGov Finds

A YouGov poll of about 4,600 UK adults found 73% would take £50,000 immediately instead of a 50/50 chance at £1,000,000; 21% choose the gamble and 6% were undecided. Women were more risk-averse (82% chose £50k) than men (63%), while younger adults (18–24) showed more willingness to take the risk. Experts attribute the bias to loss aversion and the fear of losing guaranteed cash. The piece also notes that while historically investing £50k could have reached £1m, past performance isn’t a guarantee for the future.

via BBC|

#business #finance #psychology

politics1 month ago•6 min saved

Burnham's In-Tray: Stabilizing a Stagnant Economy and Rebuilding Labour's Trust

Andy Burnham becomes the UK’s prime minister after Labour leader Keir Starmer resigns, inheriting a stagnant economy with limited fiscal room, a fragile bond market, and a Labour base that has drifted in polls; his challenges include balancing defence spending with welfare, possibly expanding North Sea drilling, navigating tense UK-China and US relations, refining Gaza diplomacy, and countering Reform UK’s rise while trying to translate policy into tangible improvements for ordinary voters.

via Al Jazeera|

#andy-burnham #defence-spending #labour-party

politics2 months ago•7 min saved

Burnham's Devolution Push: Can Regional Power Boost UK Growth?

Labour's Andy Burnham calls for sweeping devolution to English city regions, Scotland, Wales, Northern Ireland, and more London powers to push growth from every postcode. While Greater Manchester shows productivity gains under devolution, economists say there is no clear UK-wide growth boost yet, and London remains far ahead. International examples suggest broader devolution can narrow regional gaps, but funding costs and current fiscal rules complicate implementation. The question remains whether this policy can deliver higher national growth and reduced regional disparities.

via BBC|

#andy-burnham #devolution #levelling-up

politics2 months ago•13 min saved

Burnham launches regional devolution drive in landmark leadership speech

Burnham uses a Manchester speech to push a 10-year regional devolution agenda, giving mayors more control over housing, welfare and budgets to raise living standards and spur growth across the UK; the plan draws private-sector attention for specifics on taxation and energy, while Tory rivals push for concrete Westminster scrutiny and there is no chancellor named yet.

via BBC|

#burnham #devolution #labour

economy2 months ago•5 min saved

Brexit's Quiet Drag: Ten Years On, Britain's Economy Remains Strained

Ten years after Brexit, Britain's economy remains under pressure: weak GDP per-capita growth among the G7, stubborn inflation, subdued investment, and a shrinking share of financial services away from London, all amid political volatility and gilt-market wobbliness; sterling is about 10% weaker than pre-2016 levels, increasing import costs, though sectors like fintech, life sciences and AI retain global strengths.

via Reuters|

#brexit #economy #financial-services

world2 months ago•7 min saved

Brexit at Ten: A Decade of Economic Drag, Trade Friction, and Migration Shifts

Ten years after the 2016 referendum, the UK’s promises of growth and frictionless trade largely haven’t materialized: GDP per capita lags the EU, investment cooled, and trade with Europe remains lower under the EU–UK deal. The pound hasn’t recovered to pre-Brexit levels, migration shifted away from the EU while total net migration peaked, and most EU law remains retained with divergence unfolding slowly. Public opinion has shifted toward regret, with polls suggesting a sizable share supports rejoining the bloc.

via Al Jazeera|

#brexit #migration #pound

business2 months ago•4 min saved

Ten Years After Brexit: charts map Britain’s bumpy economy and politics

Brexit’s decade has yielded little growth payoff: GDP is estimated to be 6-8% lower by 2025 due to uncertainty and misallocation; EU net migration turned negative in 2022 while non-EU migration rose to fill gaps; the pound remains about 10% weaker than its 2016 level, raising import costs; the FTSE-100 has lagged the FTSE-250 and US stocks; the EU remains the UK’s largest trading partner with tariff-free trade secured by a 2021 deal; prime ministers have changed frequently, highlighting political churn.

via CNBC|

#brexit #business #ftse-100

business2 months ago•328 min saved

A Decade On, Brexit's Subtle Drag on UK Growth

Ten years after the Brexit vote, economists broadly agree the UK economy has faced a persistent drag on growth. While some worst‑case fears didn’t materialize, estimates of foregone output range from about 2% to as much as 8%, driven by weaker investment, productivity and living standards. EU trade remains costlier and more cumbersome, though services—especially financial services—remain a bright spot and London stays a global hub. New non‑EU trade deals are modest in impact compared with EU trade. Immigration surged after Brexit, and political leaders remain reluctant to rejoin the EU, given divisions and uncertainty about future access. Overall, Brexit has reshaped the economy: it retains strengths in services and finance, but comes with a clear, ongoing price in slower growth and higher policy trade‑offs.

via CNN|

#brexit #business #growth

world2 months ago•79 min saved

Brexit's price tag: UK economy stalls as curry houses and car makers feel the pinch

Brexit has weakened the UK economy, reducing GDP by about 6–8%, investment by 12–13%, and productivity by 3–4%, with labor shortages hitting curry houses that relied on Eastern European workers and a costlier, slower auto sector, as the government seeks closer EU ties to revive growth amid rising public frustration with Brexit.

via AP News|

#brexit #car-industry #eu-trade

business2 months ago•1 min saved

Corporate data tie Brexit to 6% hit to UK GDP over a decade

A Bank of England–backed study using its Decision Maker Panel data finds Brexit shaved about 6% off UK GDP over 10 years, with broader methods averaging around 8%. The impact on financial services was notable but not as severe as some feared. Some economists argue such estimates are hard to isolate and may overstate effects, but this approach marks a novel use of BoE corporate data to gauge Brexit consequences ahead of the referendum’s 10-year anniversary.

via BBC|

#bank-of-england #brexit #business

society2 months ago•6 min saved

Britain's Bedroom Generation Locked Out of the Job Market

UK youth unemployment is at crisis levels, with about one million young people classified as NEETs. Stories like 25-year-old Dave and 20-year-old Lily-Rose reveal endless job applications, automated rejections from AI screening, and employers demanding prior experience even for entry roles. The Milburn report calls this a moral crisis and warns of long-term mental-health and wage setbacks, while a forthcoming update urges more effective government training schemes and evidence of their success to help young jobseekers re-enter the workforce.

via Dazed|

#mental-health #milburn-report #neets

business3 months ago•5 min saved

UK workers juggle multiple roles as cost of living climbs

More than 1 million people in the UK now have a second job as rising living costs, insecure work and industry changes push workers into a growing gig economy. The Office for National Statistics puts current second-job numbers at about 1.3 million (a dip from a 2025 peak of 1.35 million), while just under five million people participate in gig work overall. Personal stories from Bristol illustrate the strain—entrepreneurs, reception staff, bar workers and festival gig workers who juggle multiple roles, sometimes living in a van to cut costs—highlighting a broader shift toward flexible, multi‑job lives. AI-driven changes in design are also pushing freelancers to diversify, and for some, flexible work arrangements help manage childcare and expenses, underscoring how financial precarity is reshaping attitudes toward work.

via BBC|

#business #cost-of-living #gig-economy