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UK's Reeves to meet key financial services sectors

British finance minister Rachel Reeves said today she would meet representatives from key financial services sectors, such as banking and insurance, over the coming months to formulate a new growth and competitiveness strategy.

Business • 20 Jan

The UK economy, which was slow to recover from the Covid-19 pandemic, showed zero growth in the third quarter when uncertainty about the upcoming budget hit businesses

UK economy barely grew in November after Reeves budget

Britain's economic output struggled to grow in November after finance minister Rachel Reeves announced big tax increases for businesses, official data showed today.

Business • 16 Jan

Reeves said her targets for fixing the public finances - which have been hit by the rise in borrowing costs - were non-negotiable

UK's Reeves struggles to find ways out of market slump

Britain's finance minister Rachel Reeves and Prime Minister Keir Starmer are seeking to stem a market slump, but for now what happens next to rising government borrowing costs and the falling pound is largely beyond their control.

Business • 13 Jan

Sterling is heading for its biggest three-day drop in nearly two years

UK bond market selloff heaps pressure on Reeves

Rachel Reeves is facing her first major test as Britain's finance minister after the UK government's borrowing costs climbed for a third day today and the pound's losses deepened, potentially forcing her to cut future spending.

Business • 09 Jan

Last month, the Bank of England trimmed its annual growth forecast for the UK economy for 2024 to 1% from 1.25%

UK economy contracts unexpectedly by 0.1% in October

Britain's economy shrank for a second month in October in the run-up to the new government's first budget, the first back-to-back falls in output since the onset of the Covid-19 pandemic.

Business • 13 Dec 24

The UK Chancellor of the Exchequer, Rachel Reeves, is in Brussels today at the Eurogroup meeting

Reeves urges closer trade ties with EU in Brussels talks

Improving trade ties with the European Union could boost the economy and drive up living standards, UK Chancellor Rachel Reeves claimed, as she attended a meeting of EU finance ministers today.

Business • 09 Dec 24

Greggs has more stores than McDonald's in the UK and is set to open up to 160 net new shops in 2024

Greggs' growth story won't be derailed by UK budget: CEO

The boss of Greggs said its rapid expansion would not be derailed by the new UK government's tax raising budget, with any customer price rises likely to only be "pennies".

Business • 25 Nov 24

The new UK government's plan to increase taxes on businesses contributed to the first contraction in private sector activity in over a year

UK firms report first contraction since 2023 after budget

The new British government's plan to increase taxes on businesses contributed to the first contraction in private sector activity in over a year, a survey showed, after signs the economy was losing momentum even before last month's budget.

Business • 22 Nov 24

UK retailers warn of inflation and job losses from budget

Britain's biggest retailers have written to finance minister Rachel Reeves to warn her that last month's budget will make both higher prices and job losses a certainty and dent investment.

Business • 19 Nov 24

Today's GDP figures will come as an early set back for British finance minister Rachel Reeves

UK economy grows by just 0.1% in third quarter of 2024

Britain's economy grew by a slower than expected 0.1% in the third second quarter of 2024, official figures showed today.

Business • 15 Nov 24

The Royal Institution of Chartered Surveyors said its house price balance rose to +16 from +11 in September - the highest level since September 2022

UK house price growth quickens but budget clouds outlook

British house prices rose in October at the fastest pace in more than two years, according to a survey today that mostly reflected sentiment before finance minister Rachel Reeves published her budget at the end of the month.

Business • 14 Nov 24

UK finance minister Rachel Reeves delivered her first budget this week

Reeves faces heat for weak growth after first budget

Britain's finance minister Rachel Reeves faced criticism today after her first budget came in big on spending, tax increases and borrowing but small on economic growth, which was one of the big election promises of the Labour Party.

Business • 31 Oct 24

Key measures in UK Labour Party's budget in 15 years

British finance minister Rachel Reeves presented her first budget statement to parliament today, announcing a series of tax rises and changes to the government's fiscal rules to allow for more borrowing to boost investment.

Business • 30 Oct 24

Rachel Reeves, UK chancellor of the exchequer, outside 11 Downing Street today

UK's Reeves announces biggest tax hikes in three decades

Britain's new finance minister Rachel Reeves announced the biggest tax increases in three decades in her first budget, as she accused the Conservatives of leaving public services broken when they lost July's election after 14 years in power.

Business • 30 Oct 24

UK finance minister Rachel Reeves is to present her first budgt later this month

UK borrowing tops forecasts again as Reeves eyes budget

British public borrowing in the first six months of the tax year came in higher than official forecasts, data showed today, underscoring the challenge facing finance minister Rachel Reeves in her first budget next week.

Business • 22 Oct 24

British inflation fell to an annual rate of 1.7% in September from 2.2% in August, new figures show today

UK inflation falls more than expected to 1.7%

British inflation dropped sharply in September and key price gauges watched by the Bank of England also fell, bolstering bets on an interest rate cut next month and helping finance minister Rachel Reeves before her first budget.

Business • 16 Oct 24

Rachel Reeves, Britain's finance minister

UK sets out National Wealth Fund plan

Britain's finance minister Rachel Reeves said she would "catalyse" billions of pounds of investment into growth sectors, such as gigafactories, green hydrogen and carbon capture, through a new wealth fund and partnerships with pension funds.

Business • 14 Oct 24

UK finance minister Rachel Reeves speaking at today's Labour party conference in Liverpool

UK's Reeves vows no austerity despite tough budget

British finance minister Rachel Reeves has ruled out a "return to austerity", trying to brighten the gloomy tone her party has adopted since its landslide election victory in July.

Business • 23 Sep 24

Rachel Reeves, the UK chancellor of the exchequer

UK government borrowing jumps in August ahead of budget

British Chancellor Rachel Reeves faces a fresh headache ahead of her first Budget this autumn after official figures revealed government borrowing jumped by more than expected last month.

Business • 20 Sep 24

Bank of England keeps UK interest rates at 5%

Bank of England keeps rates at 5%, extends bonds plan

The Bank of England held interest rates at 5% today and voted to run down its stock of British government bonds by another £100 billion over the coming 12 months, weighing on the government's finances.

Business • 19 Sep 24

It is the first in person meeting between Jack Chambers and Rachel Reeves since she was appointed to her position.

Finance Minister to meet British Chancellor Reeves

The Minister for Finance is in London today to meet Britain's Chancellor of the Exchequer.

Business • 02 Sep 24

British public sector net borrowing was 3.101 billion pounds in July

UK borrows more than expected in July

Britain's government again borrowed more than expected last month, according to official data released today that highlighted the tight financial backdrop for new finance minister Rachel Reeves as she readies her first annual budget.

Business • 21 Aug 24

Rachel Reeves