Economy

George Osborne unveils £50bn plan to aid growth

Treasury unveils £50bn infrastructre plan to help boost economy

The Government is to underwrite £50 billion of investments in infrastructure projects in transport, energy, education and communications to help revive the economy.

Eurozone and recession send UK business confidence plummeting

UK business confidence has reached its lowest point this year, indicating a bleak second half of 2012 for the economy, a new report indicates.

UK heading for 3m unemployed, survey warns

Britain’s unemployment rate could hit three million by the end of the year after new figures revealed the number of people securing permanent jobs has fallen.

Quantitative easing isn't enough to mend economy

Bank’s extra £50bn QE ‘can’t solve economic problems alone’

The Bank of England’s third round of quantitative easing (QE), worth £50 billion, is not sufficient on its own to kick-start the economy, experts have warned.

5,6,7 mortgage offers a longer term fixed rate

Chelsea’s 5,6,7 mortgage offers long term fixed rate options

Demand for longer term fixed rate mortgages has been growing as the cost of living squeezes households’ wallets, according to the Chelsea Building Society.

London Olympics to boost economy by £16.5bn

Olympics to deliver £16.5bn to UK economy

The London 2012 Olympics will give the UK economy a £16.5 billion boost by 2017, according to a new report by Lloyds Banking Group.

Government urged to take a bold approach

Economic growth still too slow, warns BCC

UK businesses are growing, but the pace is sluggish and inadequate for a sustainable recovery, according to the British Chambers of Commerce (BCC).

Borrowing is usually high in May, claims OBR

Public sector borrowing figures ‘uncertain’ says OBR

Higher government spending and weaker receipts caused public sector net borrowing to reach £17.9 billion in May, the Office for Budget Responsibility has said.

Brighton house prices have leapt 206% in 10 years

House prices in boom locations soar by £110,000 in 10 years

Property prices in areas with the strongest economies have climbed by £110,000 in the past decade, new research indicates.

More than seven in 10 shops are holding a sale

Three quarters of UK stores resort to slashing prices

Desperate retailers are cutting their prices in a bid to attract business after dismal weather hit customer footfall, latest research reveals.

Urgency needed, says CBI's John Cridland

CBI chief pushes for further QE to rescue Britain’s economy

The Government and the Bank of England must act fast to get more credit flowing to businesses in an effort to rescue the economy, according to the head of the CBI.

Spending power is weakening, report shows

Brits £34 a month worse off as spending power keeps on falling

Britain’s households are now £34 worse off than a year ago, hammered by a combination of high inflation and weak income growth, research reveals.

Bank of England’s Posen calls for more quantitative easing

Bank of England policymaker Adam Posen is urging the bank to consider further quantitative easing that focuses on buying private sector assets instead of gilts.

New car sales up 7.9% in May

Sales of new cars in the UK climbed to 162,288 in May, some 7.9 per cent higher than the year before, latest industry figures reveal.

Spain's credit rating hovers above junk status

Spain’s credit rating slashed to BBB

The outlook for the Eurozone took a turn for the worse after Spain had its credit rating downgraded and the French economy was predicted to contract.

Service sector shows growth for 17th month

UK service sector activity growth unchanged in May

Growth of the UK service sector was unchanged during May, supported by a marked gain in incoming new business, latest figures indicate.

Surge in women's clothing sales during May

May sunshine lifts retail sales, says BRC

Shoppers filled the high streets at the end of May as sunny weather pushed up sales of food and drink, summer clothing and garden equipment, latest figures show.

Jubilee could act as showcase for investors

Has economy been affected by Jubilee Bank Holiday?

While most Brits enjoyed a bumper Bank Holiday to mark the Diamond Jubilee, it may have set the economy back billions of pounds, some experts are suggesting.

UK consumer confidence rises despite recession and Euro woes

There was a surprise increase in consumer confidence this month, in spite of the recession and mounting fears over the fate of the Eurozone, a new survey shows.

Plunging sales and soaring bonds push Spain closer to bailout

Spain appeared to be moving closer to a bailout yesterday as borrowing costs kept on climbing and retail sales plummeted.

CBI's John Cridland calls for infrastructure action

Infrastructure investment must be more attractive, says CBI

The CBI is calling for the Government to boost the economy by encouraging private pension funds to invest in public sector infrastructure projects.

Public borrowing figures boosted by Royal Mail sum

Public sector net borrowing surplus due to Royal Mail windfall

The UK’s public finances recorded a record surplus in April, but it was due to a £28 billion transfer in from the Royal Mail's pension assets latest figures reveal.

Hague: Business leaders should stop complaining

Row erupts as Hague tells businesses to work harder

William Hague is demanding that businesses work harder to boost the economy, but the British Chambers of Commerce said firms are 'straining every sinew' to deliver.

Bank's inflation report is published on Wednesday

Interest rates ‘set to stay at all-time low until 2013’

Bank of England Governor Sir Mervyn King is expected to hint in Wednesday’s quarterly inflation report that interest rates will stay put until the end of next year.