UK Economy

• U.K. recession will wipe out 8 years of living standard growth, budget watchdog says

  "We're in for a long, hard, unpleasant journey," one expert said, with "high borrowing, high debt, high tax and public spending under strain."

  Economy

  Nov 18, 2022
  
• ‘Slash and burn’ economics not the answer to global woes, Freeland warns

  Despite a dire economic prognosis for the global economy, the FES still contained some $30 billion net in new spending measures over the next six years.

  Canada

  Nov 6, 2022
  
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• U.K. reverses tax cut for wealthy after market turmoil

  Finance minister Kwasi Kwarteng said the decision to scrap the top rate tax cut had been taken with "some humility and contrition."

  World

  Oct 3, 2022
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• British pound stable after sharp drop, but analysts warn it’s ‘too little, too late’

  The United Kingdom's pound has stabilized a day after plummeting to a record low as the British government plans tax cuts to deal with a cost-of-living crisis.

  Economy

  Sep 27, 2022
• Bank of England warns of more interest rate hikes as pound hits record low

  The United Kingdom's pound sterling hit a record low compared with the U.S. dollar in trading on Monday as the new government announced major tax cuts.

  Economy

  Sep 26, 2022
• Bank of England hikes key interest rate 0.5 percentage points amid recession fears

  The Bank of England raised its benchmark interest rate to 2.25 per cent on Thursday, a step of 50 basis points, as it looks to get a handle on inflation.

  Economy

  Sep 22, 2022
• Queen’s funeral could push U.K. into ‘technical recession’: economic forecast

  A national holiday for Queen Elizabeth II's funeral has some observers concerned about the economic impact of closing businesses on both Canada and the United Kingdom.

  Economy

  Sep 13, 2022
• ‘We must act now’: U.K. unveils controversial coronavirus lockdown plan

  After falling in the summer, coronavirus cases are on the rise in the U.K. as winter approaches.

  World

  Oct 12, 2020
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• U.K. announces new post-Brexit tariff regime that cuts billions to import levies

  Under the new regime, 60% of trade will come into the UK tariff free on WTO terms or through existing preferential access from January 2021, the government said.

  Economy

  May 19, 2020
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• U.K. economy could see worst slump since 1706 due to COVID-19

  The warning comes from the Bank of England, which says the economy could start to recover during the second half of the year as the lockdown restrictions start to be lifted.

  World

  May 7, 2020