As UK economics editor, my life for the last week has felt a lot like surrealist movie Being John Malkovich — but with Rachel Reeves in the central role.
Rachel Reeves reached far and wide as she sought to revive the UK’s flagging economy with wind turbines, roads, airports, railways, trade deals, and proposed reforms to pensions, planning and the welfare system.
For years the biggest enemy in the economic life of the UK was short-termism — a term hurled around like a rude word, often prefixed with “chronic” for good measure. But this morning as I listened to the chancellor speak from a Siemens factory in Oxfordshire,
Martin Ivens is the editor of the Times Literary Supplement. Previously, he was editor of the Sunday Times of London and its chief political commentator.
Rachel Reeves will pledge to go “further and faster” to boost the UK economy by unblocking new infrastructure projects, as she seeks to lure investors and win back business support after a rocky start to her tenure as Chancellor of the Exchequer.
We got the latest UK employment data this morning. With the usual caveats around its reliability, there are signs of the market slowing — unemployment rose from 4.3% to 4.4% — but wage growth remains strong. Both regular pay and pay with bonuses rose by 5.6% in the year to November, which means wages are rising well ahead of inflation.
Chancellor of the Exchequer Rachel Reeves made the case for expanding Heathrow in the strongest hint yet that she’s preparing to green-light a controversial third runway at London’s busiest airport in a decision that’s divided the government.
Chancellor of the Exchequer Rachel Reeves said she wants construction work to begin on a third runway at Heathrow Airport before the next election is due in 2029, a day after giving the green light to a controversial project that’s divided her governing Labour Party.
What didn’t Rachel Reeves say in her growth speech yesterday? The widely trailed address surveyed the wide expanse of the government’s economic programme — from the “difficult” decisions taken in the autumn budget to the latest controversy surrounding a third Heathrow runway.
The UK government’s new idea to boost growth is in fact an old favorite: business-friendly deregulation. The appeal, for a cash-strapped Labour administration that’s already ramped up taxes, is that it’s free.
Chancellor of the Exchequer Rachel Reeves will urge Labour members of parliament to support her push to unlock a series of infrastructure projects designed to spur economic growth in Britain. Most Read from BloombergWhat Happened to Hanging Out on the Street?
US GDP grew by 2.3% on an annualised basis in the final quarter, according to the Bureau of Economic Analysis. This was slower than the 2.6% annualised growth expected by economists polled by Reuters. It was also slower than the previous quarter, when growth was 3.1% annualised.