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The Latest Breaking News on Economy

Biden's Spending Spree Is Unprecedented

Instead of redirecting course, Biden is continuing Trump’s spending legacy.

Reason

Chancellor rubbishes his own advisers and denies Brexit ‘will make us poorer’

Asked about feared 4% GDP slump, Jeremy Hunt says he doesn’t accept ’all’ OBR forecasts – adding ‘I accept all the ones I agree with’

The Independent UK

One in five Brits is neither in work nor looking for work—it’s chronic

More than five million of us are completely economically inactive and claiming out-of-work benefits.

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

Unemployment claims rise to 240,000, highest since August

The number of Americans applying for unemployment benefits rose the highest level since August but still remained low by historic standards

The Independent UK

Scots continue to cut spending amid universal pessimism over the economy

93% of Scots believe economic conditions are worse now than they were this time last year

Insider UK

How Long? How Often? 10 Facts About Economic Recessions

Fears of an economic downturn are once again on the rise, but what is a recession, exactly? We tackle this and other questions here.

Kiplinger

More feel poor as cost of living bites

Soaring inflation and rising interest rates are damaging Australia's sense of community and could put the nation's resilience at risk.

AAP

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UK forecast for 'worst recession among top economies' due to Brexit and Tory policies

The latest forecast from the OECD revealed a sharp downgrade for the UK economy, which is expected to shrink by 0.4 in 2023 and grow by just 0.2…

The National (Scotland)

UK ‘to face worst downturn of major economies’ in 2023, says OECD

Britain facing recession which much of world will avoid, says report

The Independent UK

Energy support leads to jump in UK borrowing

UK borrowing is on course to hit an eye watering £130bn by the end of the financial year

Evening Standard

What is a Swiss-style Brexit deal, and could Britain have one?

Switzerland’s relationship with the EU is not simple

The Independent UK

Biden's soft landing message

The Biden administration has developed a mantra when talking about the economy.

Axios

End Brexit rows and use immigration to solve worker shortage, CBI chief to tell MPs

‘The best guarantor of Brexit is an economy that grows. Its biggest risk is one that doesn’t,’ Tony Danker says

The Independent UK

Make tough choices on Brexit and immigration to boost growth, says CBI

Senior politicians are expected to attend the business body’s two-day conference.

The Independent UK

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The Independent UK

Millions more to need benefits as recession woes bear down

The Office for Budget Responsibility forecasts a 13.4 per cent rise in people placed on health and disability benefits

The Guardian - UK

The Observer view on Britain’s financial crisis being made in Russia – oh, come off it, Jeremy Hunt

Britain is largely in the mess it’s in because of a decade of Tory austerity policies, compounded by the destructive lies told about Brexit

The Guardian - UK

‘I can’t see any light at the end of the tunnel’ – a family reacts to the autumn statement

The Burns family is still recovering from Covid’s financial fallout but now higher bills and rising taxes are hurting too

The Independent UK

UK economy damaged by ‘own goals’ like Brexit and Liz Truss’s Budget, economists say

Institute for Fiscal Studies says UK faces ‘long, unpleasant journey’ over next few years

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The New Daily

Michael Pascoe: Once more for the dummies – we need higher wages

Inflation is more than double the headline wages growth – wages are lagging, not leading, Michael Pascoe writes.

The Guardian - UK

Hunt’s budget will mean 19 years of wage stagnation, warns thinktank

Resolution Foundation says had wages grown at the same rate as before 2008, annual pay in 2027 would have been £15,000 a year higher

Leeds Live

'Liz Truss left us in turmoil and it is getting worse' says people of Leeds after Autumn statement

People across the city have felt the effects of the cost of living crisis

Wales Online

Disposable income to suffer biggest drop since 1956

Watchdog shares grim outlook after Chancellor Jeremy Hunt outlines billions of pounds of stealth taxes and cuts

The Guardian - UK

Biggest hit to living standards on record as Hunt lays out autumn statement

Austerity is pushed back until after the next election amid evidence of higher energy bills and a protracted recession

Manchester Evening News

Autumn budget key points at a glance and what it means for you

Chancellor Jeremy Hunt announced a wave of new economic measures on Thursday

The Independent UK

Autumn statement 2022: Grim historic milestones facing the UK economy

Living standards are set to slump back to levels last seen in 2013/14.

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