Andy Bruce

Demand for workers in Britain collapsed last month after the new Labour government's first budget, a survey published on Monday showed, adding to other signs of the impact of the tax increases on employers.

The OECD on Wednesday bumped up its growth forecast for Britain's economy next year, citing a surge in government spending that is also likely to push inflation to the top of the G7 charts.

British retailers reported lacklustre sales in November, according to industry data on Tuesday affected by the timing of the Black Friday sales, although it still pointed to weakening consumer confidence.

British lenders approved the most mortgages for house purchase since August 2022 last month but consumer credit growth slowed slightly to its weakest in nearly two years, Bank of England data showed on Friday.

Business sentiment in Britain's services sector is falling at the fastest rate in two years, partly as a result of tax rises in finance minister Rachel Reeves' first budget on Oct. 30, the Confederation of British Industry said on Thursday.

Several British police forces have largely withdrawn from Elon Musk's X social media platform as concerns over its role in promoting violence and extreme content persist, a Reuters survey of forces' social media output showed.

Britain's economy contracted unexpectedly in September and growth slowed to a crawl over the third quarter, data showed on Friday, an early set back for finance minister Rachel Reeves' ambitions to kick-start a sustained pickup.

Britain should stand up for free trade and rebuild ties with the European Union as the global economy fragments, Bank of England Governor Andrew Bailey said in a speech on Thursday that cast an eye towards Donald Trump's White House return.

British wage growth excluding bonuses fell in the third quarter to its lowest in over two years, official data showed on Tuesday, potentially boosting the Bank of England's confidence that inflation pressures will continue to ease.

Productivity in England's health service, which fell sharply after the COVID-19 pandemic and is a top priority for the new Labour government, is showing tentative signs of improvement, a think tank report showed on Tuesday.

Bank of England must look past budget's temporary inflation hit, Pill says

It said future reductions were likely to be gradual.

The Bank of England cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government's first budget would lead to higher inflation and economic growth.

The Bank of England is likely to cut interest rates on Thursday for only the second time since 2020 but the big question for investors is whether the BoE sends a signal about its subsequent moves after the government's inflation-raising budget.

British finance minister Rachel Reeves on Wednesday announced a new fiscal target to have government debt falling, called the "investment rule", designed to give the government more leeway to borrow for investment.

Finance minister Rachel Reeves on Wednesday forecast Britain's budget deficit would come to 26.2 billion pounds ($33.9 billion) in the 2025/26 financial year, citing new projections from the Office for Budget Responsibility.

Britain's finance minister Rachel Reeves will only meet her new fiscal rules by a slim margin according to the budget plans she announced on Wednesday, prompting a government bond selloff.

British finance minister Rachel Reeves on Wednesday said the previous Conservative government hid vital information on public spending from the Office for Budget Responsibility (OBR), citing a new report from the independent forecasting body.

Budget plans of British finance minister Rachel Reeves are likely to push UK government bond issuance towards 300 billion pounds ($389 billion) this fiscal year, a roughly 6% increase on the existing target, a Reuters poll of bond dealers showed on Tuesday.

Britain's minimum wage for most adults will increase by 6.7% from April next year, a boost for low-paid workers but a concern for employers who are finding it harder to implement such rises.