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The Latest Breaking News from Economy

Analysis: Chancellor’s mini-budget presents Sir Keir Starmer with dilemma as UK returns to Thatcherite free market economics

The new Chancellor buried the legacy of Boris Johnson’s big spending, higher tax agenda

Evening Standard

North East business groups welcome 'mini Budget' but warn on economy

Labour said the Government "have decided to replace levelling up with trickle down”

Birmingham Post

Rugby World Cup: RFU defend decision to fly England Women in economy despite men travelling first class

The RFU has defended its decision to fly World Cup favourites England out to the women’s World Cup in New Zealand in economy class in contrast to their male counterparts.

Evening Standard

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read the most diverse news in one place.

Why You Should Care About The Latest Interest Rate Hike: From Mortgages To Personal Loans, Credit Cards And The Job Market

Wednesday marked the last day of summer as well as the confirmation of a new hike to the federal funds rate of 0.75%.

Benzinga

Business and home movers in Northern Ireland buoyed by mini-budget but calls intensify for Stormont return

Tax cuts offer some support but resumption of devolved leadership needed to protect economy from current headwinds

Birmingham Post

Electric vehicles and economic woes fuel Coles Express sale

The sale of Coles' service stations will reduce future costs as fuel providers face an uncertain economy and EV innovations, experts say.

The New Daily

Department for Economy cancel three energy crisis meetings with All Party Group on Climate Action

Kate Nicholl says their failure to engage is "shameful and disheartening"

Belfast Live

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Declining Faith in Both Capitalism and Socialism Leaves … What?

Many Americans don’t seem to like any economic systems, and they’re no closer to agreement.

Reason

Emily Sheffield: Holly and Phil should not feel any shame over Twitter storm

To the real drama that has been building up all week. No, not what’s happening in Russia, Ukraine or Iran, or the uncertainty of our economy. No, what has apparently riled and upset so many to such an extent they have felt it necessary to sign a petition to ensure…

Evening Standard

Martin Lewis brands the mini-budget ‘staggering’

Lewis said ‘I really hope it works. I really worry what happens if it doesn’t’

Evening Standard

Tax cuts, bankers bonuses and energy bills: Eight key announcements Kwasi Kwarteng made in today's mini-budget

A raft of tax cuts were announced in this morning's mini budget.

Manchester Evening News

Tory changes to Universal Credit announced: What it means for you

In today's mini-budget, Kwasi Kwarteng, Chancellor of the Exchequer, announced changes to the way claimants can receive Universal Credit.

The National (Scotland)

The key points of the mini Budget, U-turns and what's been scrapped

A series of U turns have been made on the widely slammed mini Budget unveiled by Kwasi Kwarteng in September.

Birmingham Post

At a glance: Key points from Kwasi Kwarteng’s statement on the economy

The Government wants a new approach to growth, Mr Kwarteng said, with the aim, over the medium term, to reach a trend rate of growth of 2.5%.

The Independent UK

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The Independent UK

Pound plummets to 37-year low as Kwarteng unveils ‘growth plan’ for UK economy

Former Bank of England policy maker cautions government’s economic plan will “end in tears”

Insider UK

Chancellor axes top income tax rate for highest earners

The 'mini-budget' also confirmed a cut to stamp duty and the axing of caps on bankers' bonuses

Daily Record

Mini Budget 2022: How Kwasi Kwarteng's huge tax cuts will affect Scots as rich set to benefit

The Chancellor of the Exchequer announced huge tax cuts that will benefit the richest in society.

WEKU

FedEx is facing a big downturn. It may give us a vital clue about the economy

A surprise warning from FedEx has shocked Wall Street and worried some about the direction of the economy.

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Tribune News Service

Limiting workdays could rearrange life and our economy

Do you ever get the feeling there is something fundamentally wrong with how we live?

Bangkok Post

Bhutan welcomes first tourists in 2 years

KATHMANDU: Twenty-three foreign visitors landed in Bhutan on Friday, the first to arrive as the Himalayan kingdom reopened its borders after more than two years following the Covid-19 pandemic, with officials looking to tourism to help revive the local economy.

Reuters

Bhutan welcomes back tourists after COVID-19 with honey, turmeric and SIM cards

Twenty-three foreign visitors landed in Bhutan on Friday, the first to arrive as the Himalayan kingdom reopened its borders after more than two years following the COVID-19 pandemic, with officials looking to tourism to help revive the local economy.

The Independent UK

Minister denies markets fear ‘gamble’ of tax-slashing mini-budget as borrowing costs leap

‘What the markets want to know is whether the UK economy is going to grow’, Simon Clarke insists – as he rejects claims of ‘trickle-down economics’

The Guardian - UK

Pound plunges through $1.09 as former US Treasury secretary blasts ‘naive’ UK policies in mini-budget– as it happened

Sterling has tumbled by over three cents to 37-year low, and UK gilt yields are surging, after Kwasi Kwarteng announced huge unfunded tax cuts

Evening Standard

Mini-budget latest LIVE: Kwasi Kwarteng scraps 45% top rate of income tax as Chancellor slashes stamp duty

The basic rate of income tax will be cut to 19p in the pound from April 2023 and the 45% higher rate will be ‘abolished’

The Conversation

Energy crisis: why government support for businesses could harm the economy in the long run

The UK government hopes to protect businesses and public sector organisations against spiralling energy costs with a package that parallels the price cap and support payments recently promised to households. But these significant interventions come with a large and imprecise price tag that raise serious doubts about the government’s future…

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