UK Economics Correspondent, London
Andy's Feed
Dec 3, 2014

Britain says will pay off World War One-era debt in full next March

LONDON (Reuters) – Britain will pay off all of its debt used to fund World War One next March, when it redeems a government bond first issued more than 80 years ago to help pay for the conflict.

The finance ministry said on Wednesday that it would redeem the 1.9 billion pound ($3 billion), 3.5 percent War Loan — a perpetual bond which means it has no fixed maturity date — on March 9 next year.

Nov 26, 2014
Nov 26, 2014
Nov 25, 2014
Nov 21, 2014
via MacroScope

Teachers, leisure workers the biggest losers from UK’s wage woes

Teaching staff and leisure workers have taken the biggest hit to their take home pay in real termsĀ over the last three years, according to the latest edition of Britain’s most comprehensive survey of the labour market.

The Office for National Statistics’ Annual Survey of Hours and Earnings (ASHE) showed that median gross weekly earnings for teaching and educational professionals have increased just 0.5 percent between 2011 and 2014, compared with a 7.4 percent rise in inflation from April 2011 to April 2014 — the reference dates for the survey.

Nov 21, 2014

UK public finances improve in October, remain far off-track

LONDON (Reuters) – Britain’s public finances improved slightly in October but finance minister George Osborne is still unlikely to meet his budget goals before next year’s general election.

Osborne said in March he aimed to slim the budget deficit by more than 10 percent over the following 12 months, helped by Britain’s fast-recovering economy.

Nov 21, 2014

UK public finances improve, but remain far off-track

LONDON (Reuters) – Britain’s public finances improved slightly in October but Chancellor George Osborne is still unlikely to meet his budget goals before next year’s general election.

Osborne said in March he aimed to slim the budget deficit by more than 10 percent over the following 12 months, helped by Britain’s fast-recovering economy.

Nov 20, 2014
Nov 20, 2014
Nov 19, 2014

Differences appear within majority of BoE rate-setters

LONDON (Reuters) – Differences over the risks to Britain’s economy surfaced this month among the Bank of England officials who have voted to keep interest rates on hold, complicating the outlook for monetary policy.

Minutes of the Monetary Policy Committee’s Nov. 5-6 meeting showed its members voted 7-2 for the fourth month in a row to maintain rates at their record low 0.5 percent, where they have been since early 2009 when the financial crisis was raging.