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The Latest Breaking News from Economic Growth

Truss and Kwarteng put on display of unity after U-turn over top rate of tax

The Prime Minister and Chancellor toured a construction site in Birmingham in an attempt to illustrate their joint commitment to economic growth.

The Independent UK

A basic income grant for South Africa: more money in poor people's pockets, but at a heavy cost

Analyses of the implications of extending income support measures in South Africa, including a basic income grant, have focused on one of three things: how much it will cost, calculations about how much revenue would need to be raised (but without assessing the ripple effects), and how it might affect…

The Conversation

Economic recovery likely intact: Bank of Thailand

Thailand's economic recovery is likely intact and inflation should ease next year, the central bank chief said on Tuesday. Bank of Thailand (BoT) Governor Sethaput Suthiwartnarueput was speaking to a business seminar. The BoT has forecast economic growth of 3.3% for this year and 3.8% next year.

Bangkok Post

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Economy set to expand despite global recession

Thailand is expected to eke out annual economic growth of about 3% over the next two years despite a looming global recession, says Bangkok Bank economist Kobsak Pootrakool.

Bangkok Post

Karnataka Minister emphasises on industry-academia collaboration

Minister for IT, BT, Science and Technology C.N. Ashwath Narayan has emphasised the need for industry-academia collaboration with regard to promoting research and development and entrepreneurship so as to ensure economic growth of the country

The Hindu

Liz Truss hopes Paisley is "proud" of her amid 45p tax rate cut U-turn crisis

Appearing in a TV interview, the Prime Minister was asked if Buddies would be proud to be “associated with her policies".

Daily Record

Tory Conference 2022: Mayor says he would not have cut top rate of tax

Andy Street suggested that history shows the huge tax breaks offered in the mini budget will fail to boost economic growth.

Evening Standard

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Tory childcare plans branded 'simply laughable' as Liz Truss eyes reforms

Liz Truss is eyeing an overhaul of the childcare system to get more parents back to work as part of her plans to kickstart economic growth

Daily Mirror

Three reasons a weak pound is bad news for the environment

The day before new UK chancellor Kwasi Kwarteng’s mini-budget plan for economic growth, a pound would buy you about $1.13. After financial markets rejected the plan, the pound suddenly sunk to around $1.07. Though it has since rallied thanks to major intervention from the Bank of England, the currency remains…

The Conversation

New data helps solves U.S. economic growth puzzle

By one metric, economic growth was weaker than previously thought.

Axios

Want To Beat Stagflation? Invest Like It's the 1970s

If you're looking to beat sticky inflation and slowing growth in your portfolio, consider using the past as a guide for navigating today's mixed-up economy.

Kiplinger

World Bank Cuts 2022 East Asia Growth Outlook

Economic growth in East Asia and the Pacific will weaken sharply in 2022 due to China's slowdown, but the pace of expansion will pick up next year, the World Bank said on Tuesday. The Washington-based lender said in a report it expected 2022 growth in the East Asia and Pacific…

Asharq Al-Awsat

Nature is not an impediment to UK economic growth: it’s vital to it

Our economic system depends on the natural world. Growth that results in the destruction of nature will, in the end, cease, says environmentalist Tony Juniper

The Guardian - UK

World Bank report upgrades Thai growth for 2022 to 3.1%

The World Bank has increased its forecast for Thai economic growth this year to 3.1% from 2.9%, according to its "East Asia and Pacific October 2022 Economic Update" released on Monday.

Bangkok Post

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Reuters

IMF urges caution as oil-rich Guyana's economic growth nears 60%

Guyana's economic growth could reach close to 60% this year, the International Monetary Fund said in a statement on Tuesday, urging cautious policies even as the tiny South American nation benefits from surging oil production.

The Conversation

Is the UK in a recession? How central banks decide and why it's so hard to call it

Last week, UK chancellor Kwasi Kwarteng launched a bid to boost economic growth with the largest tax cutting exercise for half a century. What this so-called mini-budget has since overshadowed, however, was an admission by the Bank of England the previous day that the UK may already be in a…

Reuters

Ready for power, UK Labour's Starmer tells faithful this is their 'moment'

British opposition Labour leader Keir Starmer said on Tuesday it was his party's "moment", championing green policies to spur economic growth and create jobs that he said would open the door to power after 12 years of Conservative government.

The Independent UK

OECD: War in Ukraine to drag on global economy into 2023

The Organization for Economic Cooperation and Development says Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year

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The National (Scotland)

First Minister brands UK's economic growth plans a 'catastrophic disaster'

FIRST Minister Nicola Sturgeon has described No 10 plans to boost economic growth as a “catastrophic disaster”, saying the Scottish Government…

Evening Standard

EU warns UK not to break post-Brexit trade deal in drive for growth

Brussels has warned Britain not to break their post-Brexit trade deal by slashing regulation in its new drive for economic growth.

Reuters

Britain's Labour pitches itself against tax cuts for the wealthy

Keir Starmer, leader of Britain's Labour Party, on Sunday pledged to reverse the abolition of the top rate of income tax, saying tax cuts for the wealthy wouldn't create economic growth as he made a pitch for power at his party's annual conference.

The Guardian - UK

Forget trickle down, what the UK needs is middle-out economics

Liz Truss is banking on a failed policy. The focus should be on the real driving force behind economic growth

Daily Mirror

Liz Truss to relax immigration rules so foreign workers boost economic growth

The PM is expected to face resistance from cabinet Brexiteers including Home Secretary Suella Braverman and Trade Secretary Kemi Badenoch.

Manchester Evening News

Local Conservative MPs back mini-budget tax cut plans despite fierce criticism

Tory MPs from across Greater Manchester have backed the plans that hope to deliver economic growth.

The Independent UK

UK Treasury chief to set out tax-slashing emergency budget

The U.K. government will publish an emergency budget statement outlining how it plans to slash taxes, tame soaring inflation and boost economic growth as a recession looms on the horizon

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