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The UK economy is projected to grow by 1.5% in 2025, an increase from 0.9% last year, driven by less contractionary fiscal policy. However, elevated taxes and borrowing costs may hinder the private sector, particularly manufacturing, amid concerns over the government's increased spending and tax hikes. Despite a recent economic slump, analysts believe public spending plans could provide a fiscal stimulus, adding an estimated 0.5% to GDP in the coming year.
European markets opened higher on Monday, with the Stoxx 600 index up 0.29%. However, confidence among British firms has plummeted to its lowest since the 2022 "mini-budget" crisis, with 63% citing tax concerns. Meanwhile, Volkswagen and Xpeng Motors announced an expansion of their partnership to create a vast electric vehicle charging network in China.
Canal+ is set to debut on the London Stock Exchange, marking the largest new listing in two years, with a projected market value of €6bn. The move, seen as a vote of confidence in the UK capital markets, comes as Vivendi spins off its media assets, including StudioCanal. The listing aims to bolster Canal+'s ambitions to compete with major streaming services like Netflix and Disney+.
Rachel Reeves has not dismissed the possibility of tax increases next year, indicating a potential shift in fiscal policy. Meanwhile, Microsoft and its third-party vendors utilize cookies to enhance service delivery and ad personalization, allowing users to manage their preferences regarding data usage.
Chancellor of the Exchequer Rachel Reeves announced the UK’s commitment to enhancing economic ties with the European Union, aiming for a more ambitious and mature relationship. Speaking at the Eurogroup meeting in Brussels, she emphasized the importance of practical steps to benefit both the UK and the EU.
UK Chancellor of the Exchequer Rachel Reeves is visiting Brussels to foster closer economic ties with the European Union. At the Eurogroup meeting, she will emphasize the importance of building a relationship based on trust and mutual respect, aiming to reduce trade barriers and enhance investment opportunities.
Finance Minister Rachel Reeves is set to meet with her euro zone counterparts for the first time on Monday. She will emphasize that reducing trade barriers between Britain and the European Union could enhance growth prospects for both parties.
UK Prime Minister Keir Starmer indicated that his government may need to consider tax increases in response to unforeseen economic shocks, diverging from Chancellor Rachel Reeves's earlier commitment to businesses not to raise taxes during this Parliament. In an interview, Starmer acknowledged the unpredictability of events like Covid and the Ukraine crisis, emphasizing that circumstances could arise that would necessitate a change in fiscal policy.
More than half of UK businesses plan to raise prices and reduce jobs following a £26 billion tax hike on employer payrolls announced by Chancellor Rachel Reeves. According to a Bank of England survey, 54% of chief financial officers intend to pass the costs onto consumers, exacerbating inflationary pressures.
Rachel Reeves
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