News | Latest Breaking News Stories & Headlines

British Chancellor Jeremy Hunt has faced pressure from Tory MPs to ease the record-high tax burden in the UK

UK economy to grow in 2024 after recession - Hunt

The UK economy is forecast to grow by 0.8% this year after entering a recession in the second half of 2023, finance minister Jeremy Hunt said today in possibly his last fiscal statement before an election expected this year.

UK • 06 Mar 24

The UK economy contracted by 0.1% in the third quarter of 2023, new ONS figures show today

UK recession may be under way as economy shrinks in Q3

Britain's economy might be in a recession, according to data that showed it shrank between July and September, shortly after finance minister Jeremy Hunt took the rare step of suggesting the Bank of England might cut interest rates to boost growth.

Business • 22 Dec 23

The retail share sale plan forms part of a wider push to reinvigorate interest in UK stocks.

UK to explore options for NatWest retail share offer

Britain's finance minister Jeremy Hunt said he would explore options for a NatWest retail share offer in the next 12 months, opening up the possibility of the government reducing its stake in the bank by selling shares directly to the public.

Business • 22 Nov 23

The Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement today

UK's Hunt cuts taxes in bid to boost economy

British finance minister Jeremy Hunt has announced a bigger-than-expected cut in social security contributions and made incentives for business investment permanent in a bid to speed up the country's sluggish economy.

Business • 22 Nov 23

Jeremy Hunt is to remain as British finance minister as Sunak's reshuffle

Hunt stays as UK finance minister after reshuffle

British Prime Minister Rishi Sunak's office said today that Jeremy Hunt would remain as finance minister, after Mr Sunak made changes to his top team of ministers.

Business • 13 Nov 23

Net UK borrowing, excluding state-owned banks, stood at £4.3 billion last month, less than the median forecast of £5 billion

UK borrows less than expected in July

Britain recorded a smaller-than-expected budget deficit in July, official data showed today, giving finance minister Jeremy Hunt a bit of hope that he can cut taxes later this year, before an election expected in 2024.

Business • 22 Aug 23

Hunt to sign financial services deal with Brussels

British Chancellor Jeremy Hunt is to sign an agreement with the EU that will see London and Brussels working closer together on financial services and co-ordinating ahead of big international meetings.

Business • 27 Jun 23

UK public sector net borrowing, excluding state-owned banks, rose in April to £25.56 billion - almost £12 billion more than in April 2022

High inflation helps to swell April's UK budget deficit

Britain borrowed more than expected in April as high inflation pushed the government's debt interest bill to a new record for the month, even before expected tax cuts by Finance Minister Jeremy Hunt ahead of the next election.

Business • 23 May 23

The UK's Office for National Statistics reported borrowing of £139.2 billion for the fiscal year to the end of March

UK reports lower than expected government borrowing

The UK government borrowed less than predicted in the financial year that ended in March, according to data today which showed finance minister Jeremy Hunt may be able to adopt a less austere stance ahead of the next general election.

Business • 25 Apr 23

Fallout from the collapse continued to roil banking shares in Europe today.

Britain to bolster financial system after SVB collapse

The collapse of Silicon Valley Bank has shown the need to build a larger and more diverse financial system by bolstering the stock market and unlocking cash in pension schemes, Britain's finance minister Jeremy Hunt said today.

Business • 15 Mar 23

UK Budget: Hunt pledges reform to spur slow economy

British finance minister Jeremy Hunt announced a plan that he hopes will speed up Britain's stagnating economy, including childcare and tax reforms to get more people into work and corporate tax breaks to boost low levels of business investment.

Business • 15 Mar 23

Britain is to keep a price cap that will see average annual bills stay at £2,500 for an extra three months

Britain extends household energy support scheme to June

Britain extended its support for household energy bills by three months to the end of June, the government said today, keeping a lid on household bills in a move that should help ease the country's cost of living squeeze.

Business • 15 Mar 23

The UK economy outperformed expectations in January, new ONS figures show today

Return to school unexpectedly boosts UK economy

British economic output rose by a better-than-expected 0.3% month-on-month in January, according to data today that could bolster investors' bets that the Bank of England will raise interest rates again this month.

Business • 10 Mar 23

Hunt to keep tight UK budget with eye on 2024 election

British finance minister Jeremy Hunt looks set to keep his grip on the public finances in next week's budget, refraining from big tax cuts or spending increases until the next election comes closer into view.

Business • 08 Mar 23

Michael McGrath will visit No.11 Downing Street tomorrow morning to meet Jeremy Hunt.

McGrath travels to London to meet British Chancellor

The Minister for Finance is travelling to London today where he will meet with British Chancellor, Jeremy Hunt.

Business • 25 Jan 23

The ONS said public sector net borrowing, excluding state-owned banks, was £27.4 billion in December, up from £10.7 billion a year earlier

Energy support, debt interest swell UK borrowing

The UK government borrowed more last month than in any December since monthly records began 30 years ago, reflecting the huge cost of energy support, soaring debt interest linked to rising inflation.

Business • 24 Jan 23

Nationwide Building Society is the UK's second biggest provider of home loans

Nationwide warns of rising bad loans as outlook sours

The UK's Nationwide Building Society said bad loans are likely to rise as pressure on household finances squeezes its customers, even as it reported profits ticking up from rising interest rates.

Business • 18 Nov 22

Sterling has regained around 16% in value against the dollar and is trading around its highest in three months

Sterling, UK bond prices dip as Hunt gives tough budget

Sterling and UK government bond prices fell today after British finance minister Jeremy Hunt announced a string of tax increases and tighter public spending in a tough budget plan.

Business • 17 Nov 22

Prime Minister Rishi Sunak congratulates Chancellor of the Exchequer Jeremy Hunt after he delivered his autumn statement to MPs in the House of Commons

UK budget will lead to 'shallower downturn' - Hunt

Britain has unveiled an austerity budget with £55 billion of tax hikes and spending cuts, despite confirming its economy is in recession.

Business • 17 Nov 22

Analysts are now turning their focus to next Thursday's Bank of England meeting

Sterling recovery stalls but set for third weekly gain

The British pound fell against the dollar today but was still set for its third consecutive weekly gain, its longest positive streak since February.

Business • 28 Oct 22

UK Chancellor Jeremy Hunt said the plan was postponed until November 17 to allow it to reflect the 'most accurate possible economic forecast'

Sterling hits six week high as budget plan delayed

Sterling soared to six-week highs today, as Britain's new Prime Minister Rishi Sunak held his first cabinet meeting and a decision to delay the announcement of a plan to repair the country's public finances.

Business • 26 Oct 22

Sterling paused today, after surging almost 2% yesterday

Sterling pauses after UK fiscal U-turn rally

The dollar lost ground against sterling and other major peers today as investor sentiment picked up following the UK's dramatic U-turn over the tax-slashing mini budget that had roiled global markets.

Business • 18 Oct 22

Jeremy Hunt - The UK's new Chancellor

Britain's new Chancellor of the Exchequer, Jeremy Hunt, is no stranger to UK government roles, having spent his 17-year career in politics in a variety of cabinet jobs.

World • 14 Oct 22

Boris Johnson will face a number of key events at the start of his term

Boris Johnson's first 100 days

New British Prime Minister Boris Johnson will face a series of challenges in his first 100 days in office, culminating in the Brexit deadline on 31 October.

Politics • 23 Jul 19

Boris Johnson vowed to deliver Brexit on 31 October

Johnson elected as new UK Conservative Party leader

Boris Johnson has been elected as the new leader of the British Conservative Party and is set to take over as prime minister from Theresa May.

UK • 23 Jul 19