The coalition government led by David Cameron has been criticised for sticking to a strategy of austerity even though the country was expected to suffer a triple dip recession in early 2013. It was also stripped of its prized AAA credit rating in February 2013.
A planned tax on financial transactions in 11 euro-zone countries would cut the value of household savings in non-participating Britain by 4.4 billion euros (HK$46.8 billion), a report for the British financial sector said on Tuesday.Tuesday, 18 February, 2014, 11:27am
British retail sales rebounded last month after a weak December to record their strongest annual growth since April 2011, helped in part by a recovery in the country’s property market, a monthly industry survey showed on Tuesday.11 Feb 2014 - 2:16pm
British retailers slashed prices at the fastest rate in at least seven years during the January sales, industry figures showed on Wednesday, highlighting tough trading conditions despite an improving economy.5 Feb 2014 - 2:49pm
British Prime Minister David Cameron will use a speech at Davos on Friday to say Britain and the West have an opportunity to boost their economic fortunes by luring back jobs and factories from Asia, a trend he says is already under way.24 Jan 2014 - 3:26pm
The number of new financial services jobs in London rose for the first time in almost two years last month, research showed on Monday, which recruiters said was a sign that banks are starting to think about growth after years of restructuring.13 Jan 2014 - 4:02pm
The finance chiefs of Britain’s biggest companies say their appetite for risk has returned, with a poll showing they believe access to bank lending will ease this year, enabling them to expand and hire more staff.6 Jan 2014 - 4:47pm
British service-sector firms are hiring new staff at the fastest rate in six years and are planning to ramp up investment as the country’s economic recovery gathers momentum, a survey showed on Tuesday.26 Nov 2013 - 1:37pm 1 comment
British businesses are reluctant to ramp up hiring quickly even as their confidence levels hit record highs, a survey showed on Monday, bolstering the Bank of England’s argument that unemployment is likely to fall only slowly.11 Nov 2013 - 11:44am
Britons’ incomes edged up for the first time in three months in October as the labour market strengthened, although pay growth still lagged far behind inflation, a survey showed on Monday.21 Oct 2013 - 3:23pm
The British government claimed yesterday that last year's Olympic Games in London gave the economy a massive boost, even while acknowledging that some of the investment might have happened anyway.
An official report said the Games brought £9.9 billion (HK$117 billion) to the British economy, more than the £8.92 billion cost of staging the event.20 Jul 2013 - 3:16am
Britain’s finance minister George Osborne will unveil on Wednesday his plans for another round of government spending cuts as he tries to keep his deficit-reduction drive on track and free up cash for fresh investment.26 Jun 2013 - 1:56pm
Baroness Thatcher was finally laid to rest this week. In her declining years, she was a sadly rusted version of her "Iron Lady" image, a reminder of the wisdom of the eminent neurologist Oliver Sacks, who said, "I don't know whether there are any good ways to die".20 Apr 2013 - 3:23am 1 comment
Britain’s government was on Wednesday set to unveil plans to grow the country’s recession-threatened economy, despite insisting on greater state savings as it struggles to meet its deficit-reduction target.20 Mar 2013 - 11:19am
The IMF’s chief economist, Olivier Blanchard, has urged Britain to lessen the pace of its austerity programme because of the risk it may fall back into recession this year.
Speaking on BBC radio, Blanchard said Britain’s annual budget statement due in March would be a good time for finance minister George Osborne to “take stock” of his programme of deep spending cuts and tax hikes.25 Jan 2013 - 11:45am
Prime Minister David Cameron must not risk jeopardising Britain’s EU membership and damaging the weak economy, business chiefs warned ahead of the premier’s key Europe speech later this week.16 Jan 2013 - 2:26pm