21 h. ago UK economic growth to be slower than forecast due to tariffs, say economists

UK economic growth could be up to 0.5 percentage points lower than expected in the coming years, according to economists.

Economics

46 h. ago Fact check: Economic growth is forecast to slow in 2027 and 2028

Growth is not expected to go up in 2027 or 2028, although the economy will continue to grow.

Economics

3 d. ago Global cost of Trump trade war ‘could reach $1.4tn’; Goldman Sachs cuts UK growth forecast over tariff spillovers – business live

Rolling coverage of the latest economic and financial news, as UK business secretary warns Britain will be hit by ‘Liberation Day’ tariffsTrump prepares to unveil reciprocal tariffs as markets brace amid trade war fearsTrump’s new tariffs could backfire if they are set too high, explains Mark Haefele, chief investment officer at UBS Global Wealth Management:“Wednesday’s reciprocal tariffs could push the effective tariff rate another 4 percentage points higher. Anything further than that could move tariffs beyond a revenue-raising ‘sweet spot,’ in our view.Globally, the risk of high tariffs disrupting trade and economic activity would potentially offset any US federal revenue gains that the Trump administration seeks to use to further domestic policies.”“It appears tomorrow there’ll be no country in the world exempt from the initial announcements”.I tihnk that our trading relatinship is a very strong, and fair and balanced one, so I don’t think there is the need to do this. Continue ...

Economics

6 d. ago UK economy was doing even better than previously thought under the Tories before Labour took power, figures show

The revised GDP data adds to the evidence of Rachel Reeves ' dismal stewardship just days after the Budget watchdog halved its forecast for growth this year.

Politics

8 d. ago Deluded: Rachel Reeves claimed to be delivering renewal. The reality? Our growth forecast for this year has been slashed in half

On a humiliating day for the Chancellor, she was forced to deliver a £14 billion package of emergency spending cuts to avoid breaking fiscal rules she wrote herself only five months ago.

Politics

8 d. ago ANDREW NEIL: How Rachel Reeves led to tax rises and MUCH worse after Spring Statement

A government that was elected last July with a core mission to boost Britain's economy was forced to announce the official Whitehall number cruncher had slashed its growth forecast in half.

Politics

8 d. ago Spring Statement 2025 LIVE: Rachel Reeves warned economic plans could be derailed as UK growth forecast slashed

Chancellor Rachel Reeves has presented her first highly-anticipated Spring Statement to parliament.

Events

8 d. ago Inflation to rise to 3.2% for 2025 as OBR slashes growth forecast

The Government’s official forecaster has also warned that interest rates are set to stay higher for longer

Economics

8 d. ago Spring statement 2025 live: OBR slashes economic growth forecast as 3m families to be hit by welfare cuts

Quarter of a million people, including 50,000 children, pushed into poverty by end of decade due to welfare reforms, according to government’s own impact assessment

Economics

8 d. ago Read the Chancellor's Spring Statement in full: From welfare cuts to defence spending and national living wage

All 50 pages of the spring statement were issued as a PDF by the Treasury today after the Chancellor blamed 'increased global uncertainty' as the budget watchdog slashed its economic growth forecast.

Economics

8 d. ago Spring Statement 2025: More benefits cuts and crackdown on tax avoiders announced as growth forecast halved

Rachel Reeves will slash Britain’s welfare bill by another £500million

Politics

9 d. ago Spring Statement 2025 LIVE: GDP growth forecast slashed from 2% to 1% for this year, Rachel Reeves tells MPs

Chancellor Rachel Reeves has presented her first highly-anticipated Spring Statement to parliament.

Politics

9 d. ago Inflation to rise to 3.2% for 2025 as growth forecast slashed – OBR

The Office for Budget Responsibility (OBR) said on Wednesday that it expects UK gross domestic product (GDP) to rise by 1% in 2025.

Economics

9 d. ago Spring statement: Reeves blames ‘global uncertainty’ for deeper spending cuts

Chancellor says tougher measures required to plug fiscal hole after Treasury watchdog halves 2025 growth forecastSpring statement: key pointsAnalysis: Reeves does reasonable job of justifying fiscal prudence but welfare cuts cast shadowPolitics live – updatesRachel Reeves blamed “global uncertainty” as she announced swingeing cuts to welfare and other public spending designed to plug a fiscal hole caused by soaring borrowing costs and sluggish economic growth.The chancellor told the Commons that the UK’s growth forecast for this year had been halved from 2% to 1% by the Treasury watchdog, which concluded that the chancellor would have missed her goal of balancing the books if she did not act. Continue reading...

Politics

9 d. ago 'I was in the room as Rachel Reeves stared down her critics with a punchy Spring Statement'

Today’s event was not a Budget - it was meant to be a temperature check on the economy. But events had forced Ms Reeves’s hand

Politics

9 d. ago So much for growth, growth, growth! Rachel Reeves admits forecast for economy HALVED with inflation higher

Chancellor Rachel Reeves stressed the grim realities facing the country as she delivered her Spring Statement to the Commons, arguing the 'world has changed'.

Economics

9 d. ago Economic growth forecast halved as Reeves blames global instability

Chancellor Rachel Reeves was forced to set out further cuts in public spending after the Office for Budget Responsibility’s verdict.

Economics

9 d. ago Reeves admits “further and faster” action is needed to kickstart growth

Before the statement, the Office for Budget Responsibility will publish its forecast on the UK economy, which is widely expected to slash its forecast for economic growth

Politics

2 w. ago UK economic growth forecast to be cut in half in blow to Starmer and Reeves

A major downgrade to Britain’s economic growth forecast could pile further pressure on the chancellor in her spring statement

Economics

2 w. ago UK politics live: Fresh blow for Reeves as UK’s official economic growth forecast ‘set to be halved’

In her spring statement next week, the chancellor is expected to try blaming the drop on worsening global economics amid Donald Trump’s tariffs

Politics