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Business secretary responds to former prime minister’s article about her decisions in No 10Liz Truss’s tax-cutting agenda “clearly wasn’t the right approach” before the government had tackled inflation, the business secretary, Grant Shapps, has said in…
Former PM writes that ‘powerful economic establishment’ and lack of party support contributed to her downfallLiz Truss, who resigned as prime minister after just 45 days in office, has said she was never given a “realistic chance” to implement her tax-…
Hike of 0.5 percentage points lifts rates to 14-year high, but BoE says shorter and shallower recession now more likelyInterest rates rise again but Bank of England hints at a brighter futureThe Bank of England raised interest rates for a tenth consecu…
Tories blamed for creating economic ‘doom loop’ that fails to recognise negative impact of spending cutsThe failure of successive Conservative governments to recognise the negative impact of public spending cuts on the wider economy has meant Britain m…
Tougher rules have boosted employment but jobs offer scant career progression and contribute little to tax revenueTougher benefit rules have boosted employment in the UK in the past 25 years but only at the expense of trapping workers in dead-end jobs,…
Chancellor defiant as pressure mounts with warning from within that party could face end of an era in governmentConservative MPs have warned Jeremy Hunt that refusing to cut taxes in the spring budget would spell “the end of an era” for the party in go…
IMF says UK economy is likely to contract 0.6% as rising interest rates and higher taxes take tollBritain is expected to be the only major industrialised country to see its economy shrink this year after the impact of Liz Truss’s brief premiership prom…
Chancellor aims to temper Tory backbenchers’ hopes as he blames UK woes on ‘economic headwinds’UK politics live – latest news updatesJeremy Hunt has signalled tax cuts will only come “when the time is right” and be matched by “spending restraint”, as h…
Chancellor also expected to tell markets that government spending will remain within strict limitsUK politics live – latest news updatesJeremy Hunt will defend the government’s vision for Britain’s economic future in a speech to City executives in Lond…
IFS says if Holyrood’s health and climate policies remain in place other public spending will also sufferThe Scottish government could be forced to reconsider spending pledges to provide free university places and free personal care for older people in…