8 h. ago Boost for Rachel Reeves after surprising UK economic growth in three months to June

The Office for National Statistics (ONS) said gross domestic product grew by 0.3 per cent after 0.7 per cent growth in the first three months of the year.

Economics

9 h. ago Business news live: UK economy growth slows as leaders demand ‘no more business taxes in Autumn budget’

Stock market news and latest business and finance updates from Wednesday

Economics

10 h. ago Britain braces for another tax bomb amid warnings UK economy is 'flashing red' as growth slows to 0.3 per cent while Rachel Reeves faces a £50bn black hole

The Office for National Statistics said gross domestic product grew by 0.3 per cent for the quarter after 0.7 per cent growth in the first three months of the year.

Events

11 h. ago Britain braces for another Reeves tax bomb as economic growth slows AGAIN to just 0.3% between April and June

The Office for National Statistics ( ONS ) said gross domestic product (GDP) grew by 0.3 per cent between April and June this year.

Economics

11 h. ago UK economy posts surprise 0.3% growth in three months to June

GDP figure slower than previous quarter but beats expectations thanks to 0.4% expansion last monthThe UK economy grew at a faster rate than expected in the second quarter, official figures show, despite pressure on households and businesses from tax increased and Donald Trump’s global trade war.Figures from the Office for National Statistics showed growth in gross domestic product (GDP) slowed to 0.3% in the three months to the end of June, down from a rate of 0.7% in the first quarter. Continue reading...

Politics

11 h. ago UK economic growth slows amid pressure on business and Trump trade war

UK economic growth slowed to 0.3% between April and June, according to the Office for National Statistics.

Economics

23 h. ago Boosting productivity will be main priority of my autumn budget, Reeves says

Exclusive: Chancellor says ‘investment and reform are our tools’ as she pushes back against mounting tax speculationRachel Reeves: Labour has fixed the foundations – now we must build a stronger economy for a renewed BritainRachel Reeves has promised to use her autumn budget to prioritise fixing Britain’s dismal record on productivity as she sought to downplay mounting tax speculation with a focus on economic growth.Setting out her priorities for the budget for the first time, the chancellor said tackling the efficiency of the economy through higher investment and a fresh assault on planning rules would form the backbone of her tax and spending plans. Continue reading...

Politics

23 h. ago Boosting productivity will be main priority of autumn budget, Reeves says

Exclusive: Chancellor focuses on investment and planning rules as she dismisses talk of tax rises as ‘speculation’Rachel Reeves: Labour has fixed the foundations – now we must build a stronger economy for a renewed BritainRachel Reeves has promised to use her autumn budget to prioritise fixing Britain’s dismal record on productivity as she sought to downplay mounting tax speculation with a focus on economic growth.Setting out her priorities for the budget for the first time, the chancellor said tackling the efficiency of the economy through higher investment and a fresh assault on planning rules would form the backbone of her tax and spending plans. Continue reading...

Politics

61 h. ago Australia's central bank cuts interest rate for third time this year to 3.6%

Australia’s central bank has reduced its benchmark interest rate by a quarter percentage point for a third time this year to 3.6%, with inflation tamed and economic growth stalling

Politics

3 d. ago Trump is losing his foolish trade war. This will cost ordinary Americans greatly | Steven Greenhouse

Trump’s trade war has pushed up inflation, slashed US job gains, slowed economic growth and caused the manufacturing sector to sputterThe ever-bombastic Donald Trump has boasted repeatedly of his trade victories, while White House news releases trumpet his “historic trade wins”. The Wall Street Journal echoed Trump’s triumphalism with a headline saying, “Trump is Winning His Trade War”, and last week the New York Times used the exact same words in a headline. That must have been music to the president’s ears.Forgive me for being a spoilsport, but I don’t see where the victory is or how Trump is winning. I keep reading how Trump’s trade war and tariff machinations have pushed up inflation, slashed US job gains, slowed economic growth and caused the manufacturing sector to sputter.Steven Greenhouse is a journalist and author, focusing on labour and the workplace, as well as economic and legal issues Continue reading...

Politics

3 d. ago KEMI BADENOCH: Labour's council tax rises are a cynical raid on the very people who keep this country going

Rachel Reeves 's business-squeezing budget has led to rising unemployment, lower growth and a stagnant economy. As ever, Labour's answer is even more tax rises.

Politics

4 d. ago Embattled Rachel Reeves urges public to be patient with Labour on rescuing economy

Labour chancellor has been warned of a £50bn black hole in the government’s finances and that inflation will see consumers hit with higher prices this winter

Events

6 d. ago Dire economic crosswinds mean Rachel Reeves must raise income tax

Editorial: Despite interest rates being brought to their lowest level in more than two years, a combination of meagre economic growth, high government spending and U-turns over proposed welfare cuts has trapped Labour in a fiscal straitjacket. But the chancellor must remember that good policy is good politics

Economics

6 d. ago Surge in household costs puts Reeves’s economic growth plan at risk

Labour prime minister Keir Starmer has pledged that plans to be set out in the budget in the autumn will make ‘sure people feel better off’

Economics

8 d. ago Leading global scholars sign letter urging UK to end Palestine Action ban

Exclusive: Naomi Klein and Angela Davis among those demanding stop to ‘attack on fundamental freedoms’ of assembly and protestLetter: Palestine Action ban is an attack on fundamental freedomsNaomi Klein and Angela Davis are among dozens of international scholars and writers who have signed a letter to the Guardian calling on the UK government to reverse the ban on Palestine Action.The letter applauds what it describes as a “growing campaign of collective defiance” against the ban and commends the hundreds of people who plan to risk arrest by declaring their support for Palestine Action during a mass protest in London on Saturday. Continue reading...

Politics

8 d. ago ‘Worrying’ levels of screen time means young people losing confidence to socialise in person, minister warns – UK politics live

Culture secretary Lisa Nandy says ‘majority of young people spend all, or almost all, of their free time alone in their bedrooms, online’Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation, according to the National Institute of Economic and Social Research (NIESR), a thinktank. Phillip Inman has the story.Good morning. Keir Starmer is out on a visit today and he will be doing broadcast interviews. It may be the only time we hear from him this week, and there is no shortage of topics that journalists will want to ask him about. By the end of the day we may get new, or newish, lines on Gaza, the “one in, one out” returns deal with France, tax rises and the black hole in the government’s finances (priced at more than £40bn, according to a report from a well-respected thinktank today), Ukraine, the case for and against disclosing suspects’ immigration ...

Politics

8 d. ago Rachel Reeves needs to put up taxes to cover £40bn deficit, thinktank says

NIESR suggests a rise of 5p in the pound on basic and higher rate of income tax would fill the budget gap Rachel Reeves will need to raise taxes to close a government spending gap that is on course to reach more than £40bn after a slowdown in economic growth and higher-than-expected inflation, according to a leading thinktank.In a blow to Labour’s hopes of balancing the books without breaking manifesto commitments ruling out personal tax rises, the National Institute of Economic and Social Research (NIESR) said a number of factors would knock off course the chancellor’s plans to stay within Whitehall spending limits. Continue reading...

Economics

1 week ago Now’s the time for Democrats to hammer Trump on the economy | Lloyd Green

With inflation and unemployment rising, Democrats must speak out – and show they care about the average voter“Economic Growth Shatters Expectations as President Trump Fuels America’s Golden Age,” the White House announced on Wednesday. But within 48 hours, the data told a very different story, giving the Democrats a badly needed opening if they can muster the competence and focus to seize upon it.On Thursday, the US commerce department announced that inflation had ticked up to 2.6%. A day later, the labor department reported that unemployment had risen to 4.2% in July, and that the US had actually gained 258,000 fewer jobs than previously reported. Continue reading...

Politics

1 week ago Beauty sector faces huge job losses as Labour's tax hikes turn ugly

Industry bosses say the Government's tax hikes are now harming economic growth which will mean fewer jobs available for young people.

Economics

1 week ago White House officials rush to defend Trump after shaky economic week

US trade representative says ‘the president is the president’ after firing of labor statistics chief amid slow job growthDonald Trump administration officials fanned out on Sunday’s US political shows to defend the president’s policies after a bruising week of poor economic, trade and employment numbers that culminated with the firing of labor statistics chief Erika McEntarfer.US trade representative Jamieson Greer said Trump has “real concerns” about the jobs numbers that extend beyond Friday’s report that showed the national economy added 73,000 jobs in July, far below expectations. Job growth numbers were revised down by 285,000 for the two previous months as well. Continue reading...

Politics