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The Latest Breaking News on Economy

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

The Independent UK

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 New Daily

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

The Guardian - UK

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'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

Leeds Live

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

Wales Online

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

The Guardian - UK

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

Manchester Evening News

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Autumn statement 2022: Grim historic milestones facing the UK economy

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

The Independent UK

UK Budget leaves Scotland with 'no hope' of helping those most in need, says Swinney

THE Chancellor's budget announcements leave the Scottish Government with 'no hope' of helping those most in need when it comes to setting its own…

The National (Scotland)

Swinney: Increasing public sector pay will mean spending cuts

It comes as nurses and teachers have voted to strike in a bit for a better wage deal.

The Independent UK

Autumn Statement post-mortem: living standards to plummet as taxes soar

If there is one figure to bear in mind amid a sea of epically bad numbers in today’s Autumn Statement and accompanying Office for Budget Responsibility (OBR) fiscal outlook, it is this: underlying public sector net debt will be £400bn (18% of GDP) higher in 2026-27 than was forecast in…

Evening Standard

Conservatives go against 2019 manifesto pledge to keep foreign aid at 0.7% of gross national income

Autumn Statement says spend will be 0.5 per cent until April 2028

Evening Standard

Pound plummets as markets spooked by Tory austerity budget

THE pound has dropped sharply against the US dollar as financial markets fretted over warnings the UK is already in recession and fears Chancellor…

The National (Scotland)

Disposable income set for biggest drop since 1956, watchdog warns

The Office for Budget Responsibility (OBR) shared its grim outlook after Chancellor Jeremy Hunt outlined billions of pounds of stealth taxes and cuts

Daily Mirror

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Daily Record

Nicola Sturgeon accuses Jeremy Hunt of 'reintroducing austerity' and claims independence offers Scotland an alternative

The First Minister claimed the "alternative to Tory mismanagement of our economy" was "self-management of our economy, otherwise known as independence".

The Independent UK

Martin Lewis gives verdict after government launches tax hiking Budget

Jeremy Hunt acknowledged there will be a ‘very big fall’ in living standards

The Independent UK

Tories repeating past mistakes with autumn statement, warns Sturgeon

The Scottish First Minister said the UK Government’s choices may bring ‘significant consequences’.

The Guardian - UK

Worst fall in UK living standards since records began, says OBR

Spending watchdog says Britain is in recession and unemployment will rise by 500,000

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Evening Standard

Autumn Statement 2022: Key points from Jeremy Hunt’s speech

The Chancellor said his priorities were stability, growth and public services as he delivered the autumn statement

Birmingham Post

Autumn Statement: A 'sad state of affairs' or are there 'signs of optimism'?

The Chancellor delivered his Autumn Statement to the House of Commons

Wales Online

At a glance: Key points from Chancellor Jeremy Hunt’s autumn statement

The Chancellor said his priorities were stability, growth and public services as he delivered the autumn statement

The Independent UK

Recession to wipe out 8 years of rising living standards, Treasury watchdog warns OLD

OBR sets scene for 2024 election, predicting ‘living standards fall 7 per cent over two years, wiping out eight years’ growth’

The Guardian - UK

Hunt unveils tax rises and spending cuts as OBR says eight years of growth to be wiped out

Labour describes autumn statement measures as ‘invoice for the economic carnage’ of disastrous mini-budget under Liz Truss

Nottingham Post

More UK workers to pay increased tax, Jeremy Hunt confirms

Chancellor Jeremy Hunt has been speaking in Parliament about his plans to try and stabilise the UK economy

Wales Online

Jeremy Hunt says UK is in recession and 500,000 will lose their jobs

Mr Hunt said unemployment is expected to rise from 3.5% today to 4.9% by 2024

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