Economy NEWS

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”


General Electric to cut 12,000 jobs

General Electric has announced that it will cut 12,000 jobs in the power section of its business, representing 18% of the division’s global workforce according to a BBC News report. The industrial group … Continue reading “General Electric to cut 12,000 jobs”


New government rail strategy to unite train operation and track management

A new government rail strategy is set to deliver major changes to the UK’s railways. The one-size-fits-all approach to franchising would be brought to an end, while teams could be created to link … Continue reading “New government rail strategy to unite train operation and track management”


Think tank gives bleak outlook for UK economy

The UK is set to see the longest fall in living standards in 60 years, according to the Resolution Foundation. The think tank has said that disposable incomes in the UK are set … Continue reading “Think tank gives bleak outlook for UK economy”


UK budget sees SDLT cut for first-time buyers

Stamp Duty Land Tax (SDLT) is to be abolished for most first-time buyers in England and Wales under Chancellor Philip Hammond’s budget, as reported by BBC News. Purchasers buying their first home will … Continue reading “UK budget sees SDLT cut for first-time buyers”


UK government plans to build 300,000 homes a year

The UK government plans to build 300,000 homes a year in a bid to ease the housing crisis, according to BBC News. Chancellor Philip Hammond has said the pledge will be made in … Continue reading “UK government plans to build 300,000 homes a year”


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