The Latest Breaking News on Economy

Commentary: How Fed-induced inflation is battering your wallet

A common sound bite today is that the Federal Reserve’s recent interest rate hike is pushing the nation toward recession. But that’s like beginning a book on page 813. The origin of today’s economic malaise is prolonged and massive federal budget deficits, combined with a Fed willing to finance those…

Tribune News Service · Sep 29, 2022

Mini-budget to pile on debt interest, warns Tony Blair Institute

Kwasi Kwarteng’s growth plan included £45bn of tax cuts

Wales Online · Sep 29, 2022

Kwarteng’s tax-slashing bonanza will add less than 0.1% to GDP, study warns

‘Growth plan’ which has triggered market mayhem dismissed as ‘all pain, little gain’

The Independent UK · Sep 28, 2022

Government departments 'will be asked to make spending cuts to balance budget'

It comes after the markets went into turmoil following the Chancellor's £45 billion package of tax cuts

Wales Online · Sep 28, 2022

'Where is Liz Truss?' Opponents demand answers and recall of parliament to deal with financial crisis

Labour and the SNP called on the Westminster government to face the Commons and the markets as the Bank of England intervened with reserves to keep the UK economy stable.

Daily Record · Sep 28, 2022

The Standard View: Sterling crisis leaves no easy options for Kwasi Kwarteng

The fallout from Kwasi Kwarteng’s “mini-budget” is far from over. The International Monetary Fund has criticised the “untargeted fiscal packages” and suggested the Chancellor had an opportunity in November to “re-evaluate the tax measures”. This is highly unusual language, particularly directed at a major economy such as the UK.

Evening Standard · Sep 28, 2022

Ryanair boss Michael O’Leary describes UK tax plans as ‘nuts’

The airline chief said the move could potentially bankrupt the UK economy in the coming years.

The Independent UK · Sep 28, 2022

UK faces 'economic situation not seen in living memory' says First Minister

Nicola Sturgeon said that the impact of the sweeping tax cuts could lead to an economic crisis worse than the 2008 global financial crash

The National (Scotland) · Sep 28, 2022

Spending cuts made necessary by mini-Budget ‘could spell end of NHS’, top economist warns

Sir Charlie Bean, a former deputy governor of the Bank of England, said deep cuts would be needed to bring spending into line with GDP

Evening Standard · Sep 28, 2022

What is inflation and what is its current rate in the UK and Europe?

UK inflation fell this week as fuel prices dropped

The Independent UK · Sep 28, 2022