IMF lines up behind Treasury on Brexit costs

  • 17 September 2018
  • From the section Business
Christine Lagarde Image copyright PA

Last December, Christine Lagarde was in a more positive mood.

Globally, economies were growing at a "reasonable" pace.

Recent progress on the Brexit negotiations between the UK and the rest of the European Union were "welcome".

Both sides had just agreed the outline of the withdrawal agreement and divorce bill.

Nine months on and today a much bleaker assessment from the International Monetary Fund (IMF) and its managing director.

Read full article IMF lines up behind Treasury on Brexit costs

Carney and the "no deal" Brexit threat

  • 14 September 2018
  • From the section Business
Mark Carney Image copyright Getty Images

The Governor of the Bank of England has always been clear about two things.

That the present Brexit process has had negative effects on the broader economy and on people's incomes.

Read full article Carney and the "no deal" Brexit threat

Carney warns against complacency on 10th anniversary of financial crisis

  • 12 September 2018
  • From the section Business
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Media captionMark Carney says history teaches us that no one can rule out another crisis

The Governor of the Bank of England has warned the global financial community not to become complacent, ten years after the financial crisis led to the worst economic downturn since the 1930s.

In an interview to mark the anniversary, Mark Carney said major risks remained and that although a large part of the work to "fix" the financial system had been done, it was not a time for complacency.

Read full article Carney warns against complacency on 10th anniversary of financial crisis

Workers are £800 a year poorer post-crisis

  • 12 September 2018
  • From the section Business
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Media caption'I earned more as a student than I have since'

The substantial impact of the financial crisis has left people's wages 3% below what they were a decade ago, new research reveals.

The analysis done for the BBC by the Institute for Fiscal Studies shows that on average people's real annual wages are £800 lower.

Read full article Workers are £800 a year poorer post-crisis

Welby - Taxes must rise to tackle 'unjust economy'

  • 5 September 2018
  • From the section Business
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Media captionUK economy is unjust, says Archbishop of Canterbury

The Archbishop of Canterbury has called for a fundamental rethink of how the economy works, including more public spending and higher taxes on technology giants and the wealthy.

In an interview with the BBC to mark the launch of a major report by the Commission on Economic Justice, of which he is a leading member, Archbishop Justin Welby said the present economy was "unjust".

Read full article Welby - Taxes must rise to tackle 'unjust economy'

Treasury in talks on keeping Mark Carney at Bank of England

  • 3 September 2018
  • From the section Business
Mark Carney Image copyright Reuters

The Treasury and the Bank of England are in discussions about Mark Carney staying on as governor beyond his present departure date of June 2019.

I understand the Treasury is concerned that trying to find a new governor now, amid Brexit talks, would be difficult.

Read full article Treasury in talks on keeping Mark Carney at Bank of England

No-deal Brexit: A costly prospect for many consumers and firms

  • 23 August 2018
  • From the section Business
Trucks at the port of Dover Image copyright EPA

Britain leaving the European Union has been described as akin to attempting to remove an egg from an omelette.

Today's "no deal" papers reveal the complicated exercise could carry significant costs for consumers and businesses if Britain and the EU fail to agree on a transition period and a subsequent trading agreement.

Read full article No-deal Brexit: A costly prospect for many consumers and firms

Why is government borrowing falling?

  • 21 August 2018
  • From the section Business
Philip Hammond Image copyright Reuters
Image caption Philip Hammond will deliver the next Budget in November

It is not exactly the tone of a man who has just been told some economic news rather better than many expected.

"We must not be complacent," the Chancellor of the Exchequer said in response to borrowing figures that were the rosiest in 18 years.

Read full article Why is government borrowing falling?

Bank of England chief economist warns on AI jobs threat

  • 20 August 2018
  • From the section Business
Robot hand Image copyright Getty Images

The chief economist of the Bank of England has warned that the UK will need a skills revolution to avoid "large swathes" of people becoming "technologically unemployed" as artificial intelligence makes many jobs obsolete.

Andy Haldane said the possible disruption of what is known as the Fourth Industrial Revolution could be "on a much greater scale" than anything felt during the First Industrial Revolution of the Victorian era.

Read full article Bank of England chief economist warns on AI jobs threat

Why are so many of us not saving for a rainy day?

  • 25 July 2018
  • From the section Business
piggy bank Image copyright Getty Images

There are two important statistics I regularly look at to see how people's finances are faring.

They point to whether people are feeling financially comfortable, or are finding their lives financially difficult.

Read full article Why are so many of us not saving for a rainy day?