11 h. ago Will the UK enter a recession after Britain’s GDP shrinks unexpectedly?

GDP unexpectedly fell in the first month of 2025

Politics

12 h. ago Shrinking economy offers unhelpful backdrop for Rachel Reeves’s growth push

GDP goes in wrong direction as chancellor puts final touches to fiscal plansUK economy shrinks unexpectedly in blow to ReevesFor a government that has made growth its overriding mission, the 0.1% decline in GDP in January signalled by the Office for National Statistics will be depressing news.As Rachel Reeves prepares to announce her spring statement on 26 March, the economy appears to be going in the wrong direction – underlining the fact that the Office for Budget Responsibility is likely to have presented her with notably weaker forecasts than in October. Continue reading...

Politics

4 d. ago Risk of ‘Trumpcession’ rising, economists say, as global markets fall

Donald Trump’s brinkmanship and stop-start approach to tariffs rattle investorsBusiness live – latest updatesThe risk that the US economy will enter recession this year is rising, according to economists, as Donald Trump’s chaotic approach to tariffs continued to hit markets.Shares on Wall Street fell sharply on Monday as investors bet the president’s unpredictable tariff trade war and handling of the economy would hit growth, amid a recent plunge in business and consumer confidence. Continue reading...

Politics

1 week ago Trump news live: U.S. forecast to enter recession after market slows with tariff news

President’s trade aggression causes unease after he suspends American aid for Ukraine

Economics

1 week ago U.S. forecast to enter recession after Trump crashes markets with tariffs on Canada, China and Mexico: Live

President’s trade aggression causes unease after he suspends American aid for Ukraine

Economics

2 w. ago Starmer’s cuts are a huge mistake – foreign aid is an investment, not an expense | Halima Begum

At the height of the cold war, the west advanced its soft power through aid and development spending. If we cut that now, who will fill the vacuum?Halima Begum is the chief executive of Oxfam GBThe savagely deep cuts that Keir Starmer has announced to the international aid budget make a mockery of the pledge his party made to the British people in its manifesto. Then, it promised to restore development spending at the level of 0.7% of gross national income “as soon as fiscal circumstances allow”. On Tuesday the prime minister stood in front of parliament and announced that he will cut it from 0.5% to 0.3% of GDP. In the same manifesto, Labour made a commitment to “rebuild Britain’s reputation on international development with a new approach based on genuine respect and partnership with the global south”. This week, the government turned its back on it.Of course, I understand the argument that defence spending has to be increased, but cutting our aid budget still further when governm...

Politics

3 w. ago Pressure grows for Starmer to boost defence spending ahead of Trump showdown

PM travels to Washington next week as the only major UK party leader who has not backed calls to hike the defence budget to 2.5 per cent of Britain’s GDP by 2030

Politics