5 d. ago ECB cuts rates for third time this year as Europe braces for Trump tariffs

Quarter-point cut in main rate to 2.25% aims to tackle slowing eurozone growth and impact of US border taxesBusiness live – latest updatesThe cost of borrowing has fallen across the 20-member euro area for the third time this year after the European Central Bank cut its main interest rate to 2.25% in response to slowing growth and Donald Trump’s tariffs.The Frankfurt-based bank cut its benchmark deposit rate by a quarter of a percentage point on Thursday, in line with City economist expectations, to tackle a slowdown in the bloc and the impact from the border taxes imposed earlier this month on all EU imports into the US. Continue reading...

Politics

1 week ago Keir Starmer vows not to loosen Labour's fiscal rules despite UK borrowing costs soaring to their highest level since 1998 amid Donald Trump's tariffs carnage

The yield on a 30-year gilt, or a UK government bond, hit 5.518 per cent this morning, up 16 basis points and surpassing a previous 27-year high of 5.472 per cent set in January.

Politics

1 week ago Reeves faces crisis as Trump’s tariffs send cost of government borrowing soaring in blow to her Budget plans

The trade war escalated with China hitting back by imposing 84% levies on imports from the US

Politics

2 w. ago I won the World Snooker Championship with a second hand cue that cost me £2 — I borrowed the money from my mum

Ken Doherty took glory at the Crucible back in 1997 and few players will have managed the feat with a cue that represented such good value for money

Economics

3 w. ago Germany’s spending push drives up borrowing costs across Eurozone

Investors warn that higher bond yields could make it harder for members of the bloc to increase defence spending

Economics

3 w. ago The jobs in high demand... because nobody wants to do them: Huge shortage of teachers, lorry drivers and police could push Britain into crisis

Since the first lockdown in 2020, the job market has remained rocky at best, with many young graduates facing the harsh reality that their career prospects may never fully recover.

Events

3 w. ago These groups now worse off in DWP, PIP and Universal Credit cuts but four will gain

The Labour Party chancellor confirmed welfare cuts of £4.8bn, but insisted the government's priority was to restore stability to the public finances in the face of rising global borrowing costs

Politics

3 w. ago Spring Statement 2025: Chancellor failing businesses as tax hikes kill investment

“There was no new support to ease the pressure on small employers; no targeted reliefs, no funding boosts, and no signal of short-term help with borrowing costs”

Events

3 w. 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

3 w. ago Five economic factors that will govern Rachel Reeves’s spring statement

The chancellor will address MPs on Wednesday, warning of tough spending cuts amid rising government borrowing costsWhat to expect from Rachel Reeves’s (brief) spring statementRachel Reeves will give her spring statement on Wednesday, with a warning that spending cuts are required because “the world has changed” amid rising government borrowing costs.After announcing deep cuts to welfare, provoking a fierce backlash within her party, the chancellor will present updated forecasts from the Office for Budget Responsibility (OBR) on the outlook for the economy and government finances. Continue reading...

Economics

3 w. ago Global rise in borrowing costs to blame for UK’s higher debt spending – Reeves

Rising borrowing costs are expected to eliminate the Chancellor’s headroom against her self-imposed fiscal rules.

Economics

4 w. ago What to expect from Rachel Reeves’s (brief) spring statement

Talk of tough choices ahead, an increase in debt financing, and more initiatives to promote growthThe spring statement offers an opportunity for Rachel Reeves to talk about progress since last October’s budget, the government’s growth agenda and how it is attempting to raise living standards. However, the chancellor’s message is likely to be defensive after being blown off course in recent months.Last year she promised “no return to austerity”. But after stalled tax receipts denied her the income she expected, and concerns over the global economy and Donald Trump’s antics raised the UK’s borrowing costs, Reeves is being forced to make cuts to stay within her budget rules. Here is what to expect from Reeves’s speech, which is predicted to be relatively short at just 25 minutes. Continue reading...

Politics

4 w. ago Spring statement: What to expect – Politics Weekly Westminster

Pippa Crerar and Kiran Stacey walk us through what we can expect to hear when Rachel Reeves makes her spring statement on Wednesday. With the government facing downgraded growth forecasts, rising borrowing costs and the threat of Donald Trump’s tariffs, how can it boost the economy and save public services? And how will major spending cuts go down with the party and the public? Continue reading...

Politics