Economy NEWS

Grim financial fortunes for British millennials, report confirms

A report from the Resolution Foundation indicates that Britons born since 1981 – known as the millennial generation – have suffered the second biggest financial hit in the developed world, topped only by … Continue reading “Grim financial fortunes for British millennials, report confirms”


UK households expect further interest rate hikes

A survey has found that most UK households expect borrowing costs to rise again following an interest rate increase in November, according to Reuters. The Household Finance Index from data company IHS Markit … Continue reading “UK households expect further interest rate hikes”


EU growth approaches pre-crisis levels

Figures from the European Union statistics office have confirmed that 2017 saw the bloc grow at its fastest pace in a decade, according to BBC News. In 2017 the EU expanded 2.5%, the … Continue reading “EU growth approaches pre-crisis levels”


Land Registry analysis quantifies offshore property ownership

One in four properties in England and Wales owned by overseas firms is held by an entity registered in the British Virgin Islands (BVI), according to BBC News. The tiny archipelago located in … Continue reading “Land Registry analysis quantifies offshore property ownership”


BT Openreach to bring ultrafast broadband to 3m households by 2020

BT Openreach has pledged to bring ultrafast broadband to three million households by 2020, according to BBC News. The company said it would speed up its plans to bring fibre connections to homes … Continue reading “BT Openreach to bring ultrafast broadband to 3m households by 2020”


UK mortgage approvals drop to lowest rate in five years

Mortgage approvals in the UK have dropped to their lowest level for five years, according to BBC News. Figures from UK Finance indicate that just 36,115 seasonally-adjusted mortgages were approved in December 2017, … Continue reading “UK mortgage approvals drop to lowest rate in five years”


BoE says UK jobless rate will fall in 2018

The level of unemployment in the UK is set to fall faster than the Bank of England (BoE) and other economists had predicted, according to a statement from BoE policymaker Michael Saunders reported … Continue reading “BoE says UK jobless rate will fall in 2018”


2017 saw slowdown in UK house price rises

Figures from the Halifax confirm that UK house prices grew much more slowly in 2017 than in 2016, according to BBC News. Halifax, the UK’s largest mortgage lender, said average prices rose 2.7% … Continue reading “2017 saw slowdown in UK house price rises”


IFS warning: higher minimum wage will lead to more robots

The Institute of Fiscal Studies (IFS) has warned that increasing the living wage could prompt employers to automate more jobs. According to BBC News, plans to increase the minimum hourly rate to £8.50 … Continue reading “IFS warning: higher minimum wage will lead to more robots”


Brexit agreement reduces economic risk, says BoE

The Bank of England has said that the risk of a disorderly Brexit has been reduced following a recent breakthrough in negotiations with the European Union, according to Reuters. Policymakers at the Bank … Continue reading “Brexit agreement reduces economic risk, says BoE”


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