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Rate tops level last seen after Liz Truss mini-budget as fears of global inflation and US political instability spook marketsBusiness live – latest updatesBritain’s long-term cost of borrowing has hit its highest level since 1998, as political instabil…
Survey shows nearly 90% of 2019 Conservative voters say green industry is vital to UK’s economic growthUK politics live – latest updatesAlmost nine in 10 voters who intend to switch their support from Conservative to Labour candidates in the next gener…
Thinktank chief and former MPC member gloomy about stubborn inflation and labour shortages The UK economy will shrink this year and in 2024, according to a report by a leading US thinktank that said stubborn inflation and a shortage of workers would da…
Country needs successful firms to grow and struggling ones to shrink, says Resolution FoundationThe UK needs more businesses to fail, or at least shrink, to solve the economy’s long-running productivity crisis, a study has argued.The country’s lack of …
Her worst ideas were reversed, but today’s economy is similarly floundering as Sunak prepares for his own autumn budgetImagine an alternative world. Liz Truss has just completed her first year in office this weekend, having miraculously survived when h…
Service sector and manufacturing output falls, with cost of living crisis also hitting businessesBusiness live – latest updatesBritain’s economy is at growing risk of recession, with industry figures showing the sharpest monthly fall in private sector …
Decision to hold rate at 5.25% will be good news for mortgage holders and firms but reflects dramatic weakening of economic activity• Business live – latest updates• Bank keeps interest rates on hold at 5.25%The economy is slowing by more than the Bank…
Former prime minister to make remarks in speech on Monday almost a year since mini-budget that led to her downfallLiz Truss will blame the UK’s economic problems on “25 years of economic consensus” as she doubles down on the policy proposals that helpe…
Manufacturing, services and construction sectors contract for first time since summer of 2022Business live – latest updatesThe UK economy shrank in July by 0.5% amid industrial action and extremely wet weather, official figures indicate, heightening fe…
Resolution Foundation predicts average Britons will be 4% poorer but better-off pensioners will be ‘big winners’UK workers’ living standards will flatline next year, leaving them on track to be 4% worse off heading into the next election than they were…