9 h. ago Rachel Reeves says May’s fall in GDP is ‘disappointing’; Trump tariffs knock markets – business live

Latest economic report shows UK GDP fell by 0.1% in May, following 0.3% fall in April.Full story: UK economy shrinks unexpectedly by 0.1% in blow to Rachel ReevesUS will impose 35% tariffs on Canadian imports, Trump says in letterChancellor Rachel Reeves has described the latest GDP figures as “disappointing”.Following this morning’s news that the UK economy contracted by 0.1% in May, Reeves points to the government’s efforts to support households financially:“Getting more money in people’s pockets is my number one mission. While today’s figures are disappointing, I am determined to kickstart economic growth and deliver on that promise.“The choices we have made in our first year in government have seen us extend the £3 bus fare cap, fund Free School Meals for over half a million more children, press ahead with plans to deliver free breakfast clubs for every child in the country and increase the National Minimum and National Living Wage, giving a pay rise to 3 million workers.“Flatli...

Economics

11 h. ago Rachel Reeves says GDP figures ‘are disappointing’ after UK economy shrinks for second month in a row – business live

Latest economic report shows UK GDP fell by 0.1% in May, following 0.3% fall in April.Full story: UK economy shrinks unexpectedly by 0.1% in blow to Rachel ReevesUS will impose 35% tariffs on Canadian imports, Trump says in letterChancellor Rachel Reeves has described the latest GDP figures as “disappointing”.Following this morning’s news that the UK economy contracted by 0.1% in May, Reeves points to the government’s efforts to support households financially:“Getting more money in people’s pockets is my number one mission. While today’s figures are disappointing, I am determined to kickstart economic growth and deliver on that promise.“The choices we have made in our first year in government have seen us extend the £3 bus fare cap, fund Free School Meals for over half a million more children, press ahead with plans to deliver free breakfast clubs for every child in the country and increase the National Minimum and National Living Wage, giving a pay rise to 3 million workers.“Flatli...

Economics

12 h. ago Rachel Reeves say GDP figures ‘are disappointing’ after UK economy shrinks for second month in a row – business live

Latest economic report shows UK GDP fell by 0.1% in May, following 0.3% fall in April.Full story: UK economy shrinks unexpectedly by 0.1% in blow to Rachel ReevesUS will impose 35% tariffs on Canadian imports, Trump says in letterChancellor Rachel Reeves has described the latest GDP figures as “disappointing”.Following this morning’s news that the UK economy contracted by 0.1% in May, Reeves points to the government’s efforts to support households financially:“Getting more money in people’s pockets is my number one mission. While today’s figures are disappointing, I am determined to kickstart economic growth and deliver on that promise.“The choices we have made in our first year in government have seen us extend the £3 bus fare cap, fund Free School Meals for over half a million more children, press ahead with plans to deliver free breakfast clubs for every child in the country and increase the National Minimum and National Living Wage, giving a pay rise to 3 million workers.“Flatli...

Economics

12 h. ago UK on recession alert: Tax hike fears mount as GDP FALLS for the second month in a row

The grim figures heap pressure on the Chancellor, who has been hoping that growth can help her balance the government books.

Economics

13 h. ago UK economy shrinks unexpectedly by 0.1% in blow to Rachel Reeves

May’s fall in GDP fuelled by sharp declines in manufacturing and constructionAnalysis: Fall in UK GDP puts focus back on expectations of tax rises in autumn budgetBusiness live – latest updatesBritain’s economy unexpectedly shrank in May, fuelled by sharp declines in manufacturing and construction, in a blow for the chancellor, Rachel Reeves, amid speculation over tax increases.The Office for National Statistics said gross domestic product fell by 0.1% in May, missing City predictions of a 0.1% monthly expansion. Continue reading...

Politics

13 h. ago 'Ticking tax timebomb' warning as UK economy shrinks 0.1% in May in fresh blow to Rachel Reeves

The City had expected a 0.1% rise in GDP

Events

13 h. ago UK economy shrunk 0.1% in May, ONS reveals in blow to Chancellor Rachel Reeves

Analysts had forecast a 0.1% rise in GDP in May

Politics

14 h. ago UK on recession alert: Fresh blow for Rachel Reeves as GDP FALLS for the second month in a row with 0.1% drop in May

The grim figures heap pressure on the Chancellor, who has been hoping that growth can help her balance the government books.

Events

1 week ago Rachel Reeves set to cut cash ISA allowance in blow to savers — here’s what you need to know

At the moment each person has a £20,000 ISA allowance to use where they wish

Politics

2 w. ago The Elon Musk effect continues as Europe’s Tesla sales drop for fifth month in a row

Tesla's stock price fell by more than 4 per cent in early afternoon trading

Politics

3 w. ago New blow for Rachel Reeves as inflation stays at 3.4 per cent

The latest data from the Office for National Statistics (ONS) means prices were still rising in May at a similar rate to April when a raft of bills increased for households up and down the country.

Economics

4 w. ago Blow for Rachel Reeves after UK economy shrinks by more than expected

The UK economy contracted by 0.3% in April, according to the Office for National Statistics.

Politics