The British Chambers of Commerce has slashed its forecast for UK economic growth this year, blaming the government’s austerity measures.
The Bank of England is unlikely to raise the current base rate until at least 2016 or 2017, money markets have predicted.
UK consumers will be hundreds of pounds better off this year as a result of falling inflation and changes to the personal tax system, research has revealed.
The UK is deeper in recession than originally thought, as figures from the Office for National Statistics show that the economy shrank more than previous estimates had stated.
The government wants to use investment in small and medium sized enterprise (SMEs) to drive economic growth, and has announced plans to launch a new enterprise research centre.
The Queen’s Diamond Jubilee celebrations could hamper the economy’s recovery due to a reduction in economic output, the Bank of England has warned. As part of the celebrations, British workers have been given an extra bank holiday, which could lead to a drop in economic activity. The Bank of England has said that the four-day […]
Sir Mervyn King has warned that the continuing crisis in the eurozone is hampering Britain’s efforts to recover from financial meltdown. The governor of the Bank of England has said that Britain is recovering from the biggest financial crisis in its history, but is being held back by a eurozone that is “tearing itself apart”. […]
A fraction of small businesses in the UK play the biggest role in the country’s economic growth, a report has revealed. With the UK back in recession, politicians and financial experts are looking at ways to boost the country’s struggling economy in the face of continuing job losses and turmoil in the eurozone. But a […]
Manufacturing output in the UK was better than expected in March, the latest figures from the Office for National Statistics (ONS) have suggested. The ONS said that manufacturing output in March rose 0.9%, compared to the previous month. This was better than initial forecasts for manufacturing output, which had estimated a rise of 0.5%. But […]
The UK’s economy will return to growth in the second half of this year, a leading business lobbying organisation has said. The reassurance has come from the CBI, which has also predicted that the speed of economic growth in the UK will increase next year. It is a positive prediction, which flies in the face […]