Tag: UK economy

• Wednesday, January 31st 2018 - 09:22 UTC

  Theresa May three-day visit to Beijing to prop post-Brexit trade and her leadership

  

  British Prime Minister Theresa May was starting a crucial trade visit to China on Wednesday as she admitted the two countries will not always see eye-to-eye in sensitive areas like steel over-capacity and intellectual property rights.

• Wednesday, January 31st 2018 - 08:55 UTC

  UK economy expands 0.5% in fourth quarter and 1.8% for the whole of 2017

  

  The UK economy expanded at a slightly faster pace in the fourth quarter on services and manufacturing output, but the full-year growth was the weakest in five years, preliminary data from the Office for National Statistics showed. GDP grew 0.5% sequentially in the fourth quarter, while the rate was forecast to remain unchanged at 0.4%.

• Tuesday, January 30th 2018 - 10:16 UTC

  PM May leadership questioned by Tories divided over Europe

  

  Prime minister Theresa May has been warned the UK risks disaster unless she “sees off hard Brexiteers” in her own party amid continuing Tory divisions over Europe. Ex-minister Anna Soubry said the PM must not let what she said were 35 MPs dictate the terms of the UK's EU exit.

• Saturday, January 27th 2018 - 09:31 UTC

  Bank of England said UK was already suffering a “Brexit effect”

  

  A “deeper relationship” with Europe will benefit the UK economy, the governor of the Bank of England has argued. Mark Carney's comments follow claims by chancellor Philip Hammond that the UK and EU economies will only move “very modestly” apart after Brexit.

• Thursday, December 28th 2017 - 09:59 UTC

  Parliament demands release of studies on potential impact of Brexit on the economy

  

  The United Kingdom government is facing new calls to release confidential studies drawn up by officials looking at the potential impact of Brexit on the economy. Twenty-five Labour MPs have written to Chancellor Philip Hammond calling on him to release the material after he disclosed the work was being carried out during a recent session of the Commons Treasury Committee.

• Wednesday, October 18th 2017 - 07:21 UTC

  OECD suggests “reversing the Brexit process” would boost the UK economy

  

  Reversing the Brexit process would boost the UK economy, the international economic body, the OECD has said. A new referendum or a change of government leading to the UK staying within the EU would have a “significant” positive impact on growth, the OECD said.

• Wednesday, September 6th 2017 - 07:57 UTC

  Archbishop of Canterbury says UK economic model is failing with a growing gap between rich and poor

  

  Archbishop of Canterbury, Justin Welby, says Britain's economic model is broken, as the gap between the richest and poorest parts of the UK widens. Britain stands at a watershed and must make “fundamental choices” about the direction of the economy, he said.

• Thursday, July 27th 2017 - 10:29 UTC

  UK expands 0.3% in second quarter, but it is a “notable slowdown” from last year

  

  United Kingdom economic growth edged slightly higher in the three months to June, as a stronger service sector offset weaker manufacturing and construction. The Office for National Statistics (ONS) said the economy expanded by 0.3% in the quarter, up from 0.2% in the previous three months, but added there had been a “notable slowdown” from last year.

• Wednesday, July 19th 2017 - 09:18 UTC

  Deeper slowdown for UK economy ahead, anticipate business research centers

  

  The UK economy is on course for an even deeper slowdown as consumer spending and business investment take a hit from uncertainty surrounding the Brexit negotiations, new research has found. Britain’s GDP is expected to drop from 1.8% growth last year to 1.5% in 2017 and to 1.4% in 2018, according to PwC’s UK Economic Outlook.

• Wednesday, July 5th 2017 - 07:30 UTC

  Britain's growth prospects downgraded because of “newly created uncertainty”

  

  Economists have downgraded Britain’s growth prospects in the wake of political uncertainty following the general election and as a prolonged Brexit drag on business investment looms. New forecasts by the Centre for Economics and Business Research (Cebr) show that the UK economy will grow by just 1.3% in 2017, a substantial downward revision from an earlier forecast of 1.7%.