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The Latest Breaking News on Economy

Hunt unveils tax rises and spending cuts as OBR says eight years of growth to be wiped out

Labour describes autumn statement measures as ‘invoice for the economic carnage’ of disastrous mini-budget under Liz Truss

The Guardian - UK

More UK workers to pay increased tax, Jeremy Hunt confirms

Chancellor Jeremy Hunt has been speaking in Parliament about his plans to try and stabilise the UK economy

Nottingham Post

Jeremy Hunt says UK is in recession and 500,000 will lose their jobs

Mr Hunt said unemployment is expected to rise from 3.5% today to 4.9% by 2024

Wales Online

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What can we expect from the Autumn Budget?

Jeremy Hunt expected to deliver harsh package of tax rises and spending cuts to plug £60bn shortfall

The Independent UK

What time is Jeremy Hunt’s Autumn Budget statement today?

Chancellor expected to deliver harsh package of tax rises and spending cuts to plug £60bn shortfall

The Independent UK

The Tories’ ‘fiscal black hole’ is a statistical fiction – let’s have a reality check

The government’s own arbitrary target is the source of this ‘shortfall’, says James Meadway of the Progressive Economy Forum

The Guardian - UK

Five charts that will shape the UK’s autumn statement

Plans are afoot to cut government borrowing with the economy on the brink of recession and the highest inflation for decades

The Guardian - UK

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Liverpool Council chief executive warns of 'substantial savings' needing to be made

The local authority has published proposals to plus a £73m funding gap

Liverpool Echo

Council tax: London boroughs where bills could hit £2,000 for first time next year

Average bills could go over £2,000 in eight London boroughs from April

Evening Standard

Rishi Sunak says 'absolute priority' is to tackle the economy as stinging tax rises for everyone in UK expected

Inflation rates in the UK skyrocketed to a 41-year high as the Chancellor prepares to deliver his autumn statement tomorrow

Manchester Evening News

UK inflation jumps to 41-year high of 11.1% as food prices soar

Food prices up by record amount as energy bill support fails to halt rise

The Independent UK

Martin Lewis speaks up on energy price promise slashing - 'Trussenomics totally hunted down and gone'

The Money Saving Expert has been very vocal about the state of UK politics and the part it plays in the current cost of living crisis.

Chronicle Live

UK to enter recession until summer 2023, experts warn

High energy prices, surging inflation, rising interest rates and global economic weakness to blame

Wales Online

UK to be plunged into recession until summer 2023, economists warn

Britain’s economy is expected to shrink around 0.2 per cent each quarter from October through to June next year

The Independent UK

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The Independent UK

UK economy to enter recession until summer 2023, financial experts warn

Britain’s economy is expected to shrink around 0.2% each quarter from October through to June next year.

Tribune News Service

White House’s Rouse says Fed inflation push starting to work

The Federal Reserve’s interest-rate hikes to bring inflation under control are starting to work, while President Joe Biden is doing everything possible to support the U.S. central bank, two administration economic advisers said.

ABC News

Treasurer Jim Chalmers warns of global economy's 'perilous path' ahead of federal budget

Figures released by the government, which are not expected to change before budget night, show the extent of Treasury's downgrades.

The Guardian - US

Latest US inflation data raises questions about Fed’s interest rate hikes

Experts say raising rates ‘isn’t working’ and that the real culprits are corporate pricing, energy costs and supply chain

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Tribune News Service

Biden says US dollar’s strength isn’t concerning for him

President Joe Biden downplayed the effect of the U.S. strong-dollar policy on the global economic outlook, saying weakness in other parts of the world is threatening growth.

AAP

National jobless rate in the spotlight

All eyes will be on the latest labour force figures for signs that the jobs market might be starting to cool off.

Tribune News Service

Odds of US recession within next year climb to 60%, survey shows

Odds now favor that the U.S. economy slipping into a recession within the next year, with economists expecting the labor market and demand will become casualties in the Federal Reserve’s inflation battle.

Axios

Why Britain's economic mess matters even if you're not British

Britain's economic problems are unique in many ways, but recent events indicate the world economy is entering a new phase.

The Independent UK

As the causes of US inflation grow, so do the dangers

What keeps driving inflation so high

AAP

Inflation still 'public enemy number one'

The inflation dragon is still breathing fire as the treasurer says higher-than-expected US inflation will have implications for Australia.

Bangkok Post

Post-Covid headwinds hit the region

As the five economies in mainland Southeast Asia re-emerge from the Covid-19 pandemic, their prospects for recovery and return to growth and development appear challenged, characterised by deteriorating balance of payments, fiscal weaknesses, currency depreciations, and rising inflation amidst global monetary tightening and recession risks.

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