UK economy shrinks unexpectedly by 0.1% in blow to Rachel Reeves
May’s fall in GDP fuelled by sharp declines in manufacturing and construction Business live – latest updates Britain’s economy unexpectedly shrank in May, fuelled by sharp declines in manufacturing and construction, in a blow for chancellor Rachel Reeves. The Office for National Statistics said gross domestic product fell
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UK unemployment rises and wage growth slows as jobs market ‘weakens’
ONS data shows jobless rate climbing to highest rate since June 2021 with growth in average earnings slowing to 5%. Analysis: the UK jobs market is cooling, not collapsing Business live – updates Unemployment climbed and wage growth slowed in the three months to May, according to official
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UK Government backs bid to bring World Athletics Championships back to London in 2029
A successful bid would see the biggest global athletics event return to the Queen Elizabeth Olympic Park HM GovernmentSource
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Pound drops after Bank of England says it could cut interest rates more if jobs market slows
‘Slack’ opening up in UK economy as higher taxes squeeze employers, says Andrew Bailey Business live – latest updates The pound dropped to a three-week low after the governor of the Bank of England said it could make bigger cuts to interest rates if the job market slows
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Office for National Statistics has ‘deep-seated’ problems and needs an overhaul
Devereux Review on the UK’s main statistics body also says a revision of past figures may be required The UK’s main statistics body needs a £10m overhaul and its top role split in two after a series of management failings and errors that have plagued the organisation for
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Growing signs of slowdown in UK jobs market, says Bank of England governor
Andrew Bailey warns of ‘significant decline in wage growth in year ahead’ as Bank prepares for interest rates decision Business live – latest updates There are growing signs that the UK jobs markets is slowing as employers respond to higher national insurance contributions (NICs) by cutting hiring and
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Britain remains trapped in poor economic policy | Letters
Readers respond to Randeep Ramesh’s article on the flaws in Labour’s approach to the economy Randeep Ramesh certainly tackles a worthwhile and complex modern economic policy conundrum (Labour could find the money it wants without raising taxes. This is austerity by amnesia, 29 June). But his opinion that
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‘David Attenborough on a tenner’: Guardian readers’ ideas for new banknotes
Bank of England has asked public for views before first major redesign of banknotes in more than 50 years Banknotes issued by the Bank of England are to have a major redesign for the first time in more than 50 years. Historic figures such as Winston Churchill and
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Tell us: what would you like to see on a redesigned bank note?
Banknotes issued by the Bank of England are being redesigned. We’d like to hear your suggestions for a new theme Banknotes issued by the Bank of England are to have a major redesign for the first time in more than 50 years. Historic figures such as Winston Churchill
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UK inflation rise makes it clear: the cost of living crisis has not gone away
Analysts say pressure will be on Bank to keep interest rates higher for longer, as consumers’ mood stays gloomy UK inflation rises unexpectedly to 3.6% Business live – latest updates For anyone hoping the Bank of England will pick up the pace of interest rate cuts – including
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