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economy

The Bank of England upped its base rate to 1% earlier this month (Yui Mok/PA)

Bank of England’s chief economist signals support for further rate rises

May 20, 2022

A car stops at a petrol station in Marseille, southern France (Jean-Francois Badias/AP)

EU cuts forecasts for economic growth as fallout from war in Ukraine widens

May 16, 2022

Business rates payments totalled more than £100 million a year from onshore wind farms (PA)

Onshore wind contributes £106m in rates to Scotland’s economy, industry says

May 16, 2022

New figures show a rise in the number of Britons saying they have bought less food due to soaring prices (Aaron Chown/PA)

Rise in Britons buying less food due to soaring cost of living

May 13, 2022

The Chancellor has said he is ‘pragmatic’ about the idea of introducing a windfall tax (Oli Scarff/PA)

Chancellor ‘pragmatic’ about idea of introducing windfall tax

May 12, 2022

Business investment declined over the start of the year (Dominic Lipinski/PA)

Business investment slides over first quarter of 2022

May 12, 2022

Prime Minister Boris Johnson has refused to rule out a windfall tax on the profits of energy companies to help relieve the pressure of the cost-of-living squeeze (Kirsty O’Connor/PA)

Johnson refuses to rule out windfall tax on energy giants

May 12, 2022

Consumer spending has dropped, hitting retailers especially hard (Jane Barlow/PA)

UK economy contracts in March as recession fears grow

May 12, 2022

UK households’ concern about their finances has hit another record low as they ‘bear the brunt’ of the cost-of-living crisis, according to a survey (Joe Giddens/PA)

Confidence in household finances hits record low

May 12, 2022

Surveyors in Scotland are expecting a gradual decline in house prices over the next year (PA)

Gradual decline in house prices forecast by surveyors

May 12, 2022

Finance and Economy Secretary Kate Forbes said the new centre could ‘improve health and quality of life’ for disadvantaged Scots (Jane Barlow/PA)

Kate Forbes unveils project to improve quality of life for disadvantaged Scots

May 9, 2022

(Aaron Chown/PA)

Cost of living is ‘difficult’ but ministers must control spending – Rees-Mogg

May 8, 2022

BP boss Bernard Looney said earlier this week that he will invest in Britain regardless of a windfall tax (Aaron Chown/PA)

Johnson urges Shell and BP to keep investing in Britain

May 6, 2022

House builders were among the worse performers (Andrew Matthews/PA)

Rising costs hit orders for UK construction firms

May 6, 2022

Governor of the Bank of England Andrew Bailey (Frank Augstein/PA)

Economists warn on stagflation but conflicted on future rates rises

May 5, 2022

The Bank of England has raised interest rates again to help cool rocketing inflation (Yui Mok/PA)

Bank raises rates to 1% and warns cost crisis will send economy into reverse

May 5, 2022

The report found the services sector slowed down in April as business confidence waned (Johnny Green/PA)

Service sector growth slows as business confidence takes a hit

May 5, 2022

Shell has further fuelled demands for a windfall tax on the sector as it revealed record first-quarter profits thanks to soaring oil and gas prices, just days after bumper earnings from rival BP (Anna Gowthorpe/PA)

Shell fuels calls for windfall tax with record profits haul

May 5, 2022

Kate Forbes said the figures show the ‘resilience’ of the economy (Jane Barlow/PA)

Scottish GDP growth in late 2021 revised up to 1.6%

May 4, 2022

Manufacturing grew but headwinds remain, according to the latest PMIs (Rui Vieira/PA)

UK manufacturing remains steady but warning signs remain

May 3, 2022

Business Secretary Kwasi Kwarteng has voiced firm opposition to a windfall tax on oil and gas companies despite Chancellor Rishi Sunak raising the possibility (Jane Barlow/PA)

Cabinet rift appears over prospect of windfall tax on oil and gas profits

May 1, 2022

Six in 10 people have made changes to their lifestyle or finances to cover the cost of essentials in the past month, according to Which? (Anthony Devlin/PA)

Six in 10 people ‘have made changes to cover surging cost of essentials’

April 27, 2022

A washing machine typically costs £161 more than it did two years ago, while a cooker will set someone back £334 more on average, according to PriceRunner (Nick Ansell/PA)

Cost of everyday household goods is surging, website finds

April 26, 2022

Banking giant HSBC has seen first-quarter profits tumble by more than a quarter after taking a hit on expected bad debts due to the Ukraine war and soaring inflation (Tim Ireland/PA)

HSBC profits plunge on Ukraine war and inflation worries

April 26, 2022

Borrowing was around half of the levels of the previous year. (Dominic Lipinski/PA)

Government borrowing drops by half, but remains close to all-time highs

April 26, 2022

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