Category: Inflation

NHS spending rise lags behind Tory funding pledges, IFS finds

Thinktank says extra funding eaten up by higher inflation despite greater demand with service in poor state of repairSpending on the NHS in England has risen less quickly than the Conservatives promised at the last election...

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Jacob Rees-Mogg accuses Bank of England of ‘miserable incompetence’ over inflation

MP criticises policies on interest rates and bond-selling as Tory rightwingers call for review of Bank’s independence Jacob Rees-Mogg has accused the Bank of England of “miserable incompetence” over its failure...

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UK has moved out of recession, official figures show

GDP rose by 0.6% in first quarter of 2024 but forecasters expect economy to grow slowly this yearBusiness live – latest updatesThe UK is officially out of recession after figures showed the economy grew by 0.6% in the...

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Tax rises will follow UK election unless fiscal rules are ripped up, says thinktank

Niesr says current limits on government borrowing fail to stimulate growth and hinder net zero ambitionsThe next government will be forced to hit voters with post-election tax rises and delay net zero investment unless it is...

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Grant Shapps says it will ‘take some time’ to conclude who was to blame for cyber-attack on armed forces payroll – as it happened

Defence secretary makes statement after 270,000 payroll records belonging to members of Britain’s armed forces been exposed to hackers. This live blog is closedReeves says Labour has a vision for the country. Stability...

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Grant Shapps gives update to MPs about cyber-attack on database containing details of armed forces personnel – UK politics live

Defence secretary makes statement after 270,000 payroll records belonging to members of Britain’s armed forces been exposed to hackersReeves says Labour has a vision for the country. Stability will be change, she argues.I...

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UK will be worst performer in G7 next year, OECD forecasts

UK constrained by high interest rates, price rises and staff shortages but thinktank offers optimistic outlook for global economyThe UK will be the worst-performing economy in the G7 next year, according to the Organisation for...

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UK economic outlook has worsened, warns OECD

Global forecast contrasts with downbeat assessment for a British economy constrained by high interest rates, price rises and staff shortagesThe UK’s economic outlook has worsened this year as high interest rates and the...

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‘Washout winter’ spells price rises for UK shoppers with key crops down by a fifth

Analysts say impact on wheat, barley, oats and oilseed rape harvests means price rises on beer, bread and biscuits and more food importedUK harvests of important crops could be down by nearly a fifth this year due to the...

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Thames Water collapse could trigger Truss-style borrowing crisis, Whitehall officials fear

Exclusive: Concerns over effect on UK’s finances lead officials to believe utility should be renationalised before general electionSenior Whitehall officials fear Thames Water’s financial collapse could trigger a...

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Bank of England governor shrugs off smaller-than-expected fall in inflation

Andrew Bailey says inflation is in line with BoE forecasts but markets view data as pushing back interest rate cutsAnalysis: Sunak hopes of pre-election rate cuts frustratedThe Bank of England governor, Andrew Bailey, has...

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