UK Job Cuts Continue for 19 Months, Growth Holds Up
UK businesses have cut jobs for 19 consecutive months, yet the services sector shows resilience with PMI at 52.7. Inflation rises, raising Bank of England rate hike risks.
Category : Budget Finance
Bank of England QE to Cost Taxpayers £125bn
The Bank of England's quantitative easing programme is set to cost taxpayers £125bn, prompting calls to pause unwinding. Critics say active bond sales strain public finances.
OBR Data Indicates Reeves May Need to Borrow More
Exclusive: OBR estimates show Rachel Reeves may face a borrowing surge due to Middle East war, with potential tax rises or spending cuts needed to meet fiscal rules.
Scottish Government Faces Tough Spending Choices, Economists Warn
Economists say next Scottish government must tackle public sector pay and budget shortfalls, warning of 'fiscal denial' in party manifestos.
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RBA Interest Rate Rise: Is It Really Necessary?
The RBA faces pressure to raise interest rates, but economists question the necessity amid slowing growth and global uncertainties. Analysis of Australia's monetary policy.
Victoria Posts First Post-Pandemic Surplus, Debt Nears $200bn
Victoria records a $727m surplus in 2025-26, its first since the pandemic, but debt is forecast to reach $199.3bn by 2029-30 amid global uncertainty.
RBA Hikes Cash Rate to 4.35%, Warns of More Increases
Reserve Bank governor Michele Bullock announces a cash rate hike to 4.35%, warning that more increases may be needed to curb inflation despite fuel price spikes.
RBA Hikes Rates Again to Curb Inflation from Middle East Conflict
The Reserve Bank raises interest rates for third straight time to 4.35%, citing inflationary pressures from higher fuel prices linked to US-Israel war on Iran.
RBA Rate Hike to 4.35%, Australians Face Higher Costs
RBA hikes rate to 4.35% amid rising prices; treasurer says war in Middle East adds pressure. Victoria posts first surplus since pandemic, but debt nears $200bn.
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RBA Governor: Australians Poorer Due to Global Fuel Shock
Michele Bullock says Australians are poorer due to the oil price shock from the US-Israel war on Iran, forecasting higher prices, lower growth, and stagnant wages.
DWP Boosts Universal Credit by £295 for 4 Million Households
The DWP is providing 4 million Universal Credit households with an extra £295 this year, rising to £725 by 2030, while cutting the Health Element for new claimants.
Gilt Yields Hit 28-Year High on Starmer Ousting Fears
UK 30-year gilt yields rose to 5.76%, the highest since 1998, as investors weigh the risk of a Labour leadership change after expected local election losses.
UK Reviews £2bn Packaging Tax Amid Food Inflation
The UK government is reviewing the £2bn Extended Producer Responsibility tax on packaging to ease pressure on retailers and prevent food price hikes amid soaring inflation.
HSBC Profit Drops After Iran War and Credit Charges
HSBC missed Q1 profit targets as credit charges surged to $1.3bn due to Middle East conflict and UK fraud, despite revenue growth of 6%.
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BoE Acting to Support Chancellor, Not Control Inflation
The Bank of England's MPC is prioritizing support for the Chancellor and the real economy over controlling inflation, despite inflation consistently above target for years.
RBA Hikes Interest Rates, Impacting Mortgage Holders
The Reserve Bank of Australia raises interest rates to 4.6%, the 13th hike since May 2022, adding pressure on mortgage holders and the housing market.
ECB Survey Shows Sharp Inflation Surge Amid Iran Tensions
ECB's Survey of Professional Forecasters shows inflation surging to 2.7% in 2026 due to higher energy prices, but hopes for a short-lived shock depend on the Iran war ending.
European Carmakers Slam Brakes After Trump Tariff Shock
European car stocks plunge after US announces 25% tariffs on imports. VW reveals €4bn annual hit, Porsche down 25% since January.
NASA Budget Cuts Threaten Lunar Legacy
Despite Artemis II's success, Trump's proposed NASA budget cuts face bipartisan opposition. Congress pushes back, highlighting the need for science funding to sustain human spaceflight.
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RBA Predicted to Deliver Third Straight Rate Hike
Economists expect the RBA to raise interest rates for the third consecutive time, despite the surge in petrol prices from Middle East conflict, signaling commitment to inflation control.
Free Financial Advice Scheme Aims to Boost UK Investing
New City rules allow banks to offer free targeted support on investments and pensions, aiming to help millions of Britons build savings and close the advice gap.
Two Teens Stabbed in Face in Mass Fight in Southend
Two teenagers suffered stab wounds to the face after a fight involving 30 youths broke out in Southend. Police issued dispersal orders to restore order.
Bank of England Warns UK Inflation to Rise Due to Middle East War
The Bank of England held interest rates at 3.75% but warned inflation will rise due to the Middle East conflict, with potential rate hikes later this year.
Budget Hits Property Investors with CGT Changes
The federal budget introduces capital gains tax changes affecting existing property investors, aiming to cool the housing market and boost supply.
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BoE Holds Rates Amid Iran War Fallout
The Bank of England held interest rates steady at 4.5% as it assesses the economic impact of the Iran war, with markets expecting a cautious stance.
Plan Ahead for 2027 Tax Changes: Isas, Savings, and Landlords
Chancellor Rachel Reeves' tax changes from April 2027 will impact Isas, savings, and rental income. Experts urge early planning to optimize finances.
Lloyds Warns Iran War Cost £151m as Unemployment Rises
Lloyds reports pre-tax profits of £2bn in Q1, up a third, but warns the Iran conflict could cost £151m due to rising unemployment, inflation, and housing slowdown.
RBA Rate Rise Won't Fix Inflation, Only Hurts Households
Greg Jericho argues that another RBA rate hike won't curb inflation driven by fuel costs but will instead burden households already struggling with soaring prices.
EU Subsidises Up to €50,000 for Farmers and Hauliers
The EU will cover up to 70% of extra fuel and fertiliser costs for farmers, fishers, and hauliers, with individual companies eligible for up to €50,000 until year-end.
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Top rate taxpayers surge as frozen thresholds hit Brits
Nearly 2 million more Brits dragged into higher tax bands due to frozen thresholds, including teachers and nurses, as HMRC data shows surge in top rate taxpayers.
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