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The Latest Breaking News on Economy

What Is a Recession? 10 Facts You Need to Know

Fears of an economic downturn are once again on the rise, but what is a recession, exactly? We tackle this and other questions here.

Kiplinger

More feel poor as cost of living bites

Soaring inflation and rising interest rates are damaging Australia's sense of community and could put the nation's resilience at risk.

AAP

UK forecast for 'worst recession among top economies' due to Brexit and Tory policies

The latest forecast from the OECD revealed a sharp downgrade for the UK economy, which is expected to shrink by 0.4 in 2023 and grow by just 0.2…

The National (Scotland)

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UK ‘to face worst downturn of major economies’ in 2023, says OECD

Britain facing recession which much of world will avoid, says report

The Independent UK

Energy support leads to jump in UK borrowing

UK borrowing is on course to hit an eye watering £130bn by the end of the financial year

Evening Standard

What is a Swiss-style Brexit deal, and could Britain have one?

Switzerland’s relationship with the EU is not simple

The Independent UK

Biden's soft landing message

The Biden administration has developed a mantra when talking about the economy.

Axios

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End Brexit rows and use immigration to solve worker shortage, CBI chief to tell MPs

‘The best guarantor of Brexit is an economy that grows. Its biggest risk is one that doesn’t,’ Tony Danker says

The Independent UK

Make tough choices on Brexit and immigration to boost growth, says CBI

Senior politicians are expected to attend the business body’s two-day conference.

The Independent UK

Millions more to need benefits as recession woes bear down

The Office for Budget Responsibility forecasts a 13.4 per cent rise in people placed on health and disability benefits

The Independent UK

The Observer view on Britain’s financial crisis being made in Russia – oh, come off it, Jeremy Hunt

Britain is largely in the mess it’s in because of a decade of Tory austerity policies, compounded by the destructive lies told about Brexit

The Guardian - UK

‘I can’t see any light at the end of the tunnel’ – a family reacts to the autumn statement

The Burns family is still recovering from Covid’s financial fallout but now higher bills and rising taxes are hurting too

The Guardian - UK

UK economy damaged by ‘own goals’ like Brexit and Liz Truss’s Budget, economists say

Institute for Fiscal Studies says UK faces ‘long, unpleasant journey’ over next few years

The Independent UK

Michael Pascoe: Once more for the dummies – we need higher wages

Inflation is more than double the headline wages growth – wages are lagging, not leading, Michael Pascoe writes.

The New Daily

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The Guardian - UK

Hunt’s budget will mean 19 years of wage stagnation, warns thinktank

Resolution Foundation says had wages grown at the same rate as before 2008, annual pay in 2027 would have been £15,000 a year higher

Leeds Live

'Liz Truss left us in turmoil and it is getting worse' says people of Leeds after Autumn statement

People across the city have felt the effects of the cost of living crisis

Wales Online

Disposable income to suffer biggest drop since 1956

Watchdog shares grim outlook after Chancellor Jeremy Hunt outlines billions of pounds of stealth taxes and cuts

The Guardian - UK

Biggest hit to living standards on record as Hunt lays out autumn statement

Austerity is pushed back until after the next election amid evidence of higher energy bills and a protracted recession

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Manchester Evening News

Autumn budget key points at a glance and what it means for you

Chancellor Jeremy Hunt announced a wave of new economic measures on Thursday

The Independent UK

Autumn statement 2022: Grim historic milestones facing the UK economy

Living standards are set to slump back to levels last seen in 2013/14.

The National (Scotland)

UK Budget leaves Scotland with 'no hope' of helping those most in need, says Swinney

THE Chancellor's budget announcements leave the Scottish Government with 'no hope' of helping those most in need when it comes to setting its own…

The Independent UK

Swinney: Increasing public sector pay will mean spending cuts

It comes as nurses and teachers have voted to strike in a bit for a better wage deal.

Evening Standard

Autumn Statement post-mortem: living standards to plummet as taxes soar

If there is one figure to bear in mind amid a sea of epically bad numbers in today’s Autumn Statement and accompanying Office for Budget Responsibility (OBR) fiscal outlook, it is this: underlying public sector net debt will be £400bn (18% of GDP) higher in 2026-27 than was forecast in…

Evening Standard

Conservatives go against 2019 manifesto pledge to keep foreign aid at 0.7% of gross national income

Autumn Statement says spend will be 0.5 per cent until April 2028

The National (Scotland)

Pound plummets as markets spooked by Tory austerity budget

THE pound has dropped sharply against the US dollar as financial markets fretted over warnings the UK is already in recession and fears Chancellor…

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People

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