News & Insight

Market Commentary

The UK economy will now grow at a faster rate than previously thought in 2024, according to a report by the British Chambers of Commerce (BCC) released last week. The upgrade to 1.1% for 2024 came after official figures put second-quarter growth at 0.6%, a sign that the UK is continuing its recovery from a […]

Market Commentary

Fashion retailers trying to shift stock through summer sales helped shop prices to record their first annual fall for nearly three years, according to research from the British Retail Consortium (BRC). Prices in August were down 0.3% from a year ago, the lowest rate since October 2021. The drop in prices was driven by non-food […]

Market Commentary

In a speech from the Downing Street Rose Garden on Tuesday, the Prime Minister told an audience of voters he met along the campaign trail that, while his government may not get everything right, everything it does will be with them in mind. Keir Stamer said he intends to “get a grip” on the problems […]

Market Commentary

After slipping into recession at the end of last year, analysts now say the UK economy has turned a corner and finds itself in a much stronger position for the final two quarters of 2024. The latest rise, which was in line with forecasts, comes after a 0.7% increase in the first three months of […]

Newsletters

Some of the topics covered in this edition are: Your bonus, your pension? Bonuses are subject to Income Tax and National Insurance Contributions, so you might consider paying some of it into your pension ISAs: 25 years and counting Make full use of your annual ISA allowance each year, whether you are investing a lump […]

Market Commentary

The release last week of a closely watched construction survey offered optimism for the sector and further evidence of the UK’s economic recovery. The S&P Global UK Construction Purchase Manager’s Index, a seasonally adjusted measure of activity in construction, jumped to 55.3 in July. This put it above the 52.2 recorded in June and, significantly, […]

Market Commentary

Last week, the Bank of England’s (BoE’s) Monetary Policy Committee (MPC) voted by a narrow majority of 5 – 4 to reduce Bank Rate by 0.25%, to 5%. Four committee members expressed a preference to maintain it at 5.25%. This is the first drop since March 2020. The rate had been held at 5.25% since […]

Market Commentary

The government’s legislative agenda was set out in the King’s Speech last Wednesday. Delivered at the State Opening of Parliament, the government set out a package of bills it intends to introduce to Parliament in the coming sessions and months, in addition to outlining various policy priorities which don’t require legislation. As anticipated, the government […]

Market Commentary

Last week, Chancellor Rachel Reeves announced the launch of a National Wealth Fund (NWF), which has been created to increase investment in the UK. A key Labour manifesto promise, the Chancellor pledged £7.3bn of state funding to “unlock investment” in UK growth industries. The funding will be allocated through the UK Infrastructure Bank, alongside existing […]

Market Commentary

After a historic landslide victory for the Labour Party, Sir Keir Starmer became the seventh Labour Prime Minister on Friday. Securing a massive 412 seats, the incoming Prime Minister spoke outside 10 Downing Street for the first time, declaring “Our country has voted decisively for change, for national renewal and the return of politics to […]

Market Commentary

New retail data from the Confederation of British Industry (CBI) has highlighted a softening in retail sales in June, with a similar expectation for July, as “unseasonably cold weather” impacted, while “internet retail sales fell sharply too,” according to Interim Deputy Chief Economist at the CBI, Alpesh Paleja. Measuring volumes year-on-year, the CBI’s monthly retail […]

Market Commentary

The UK economy did not grow in April, official data released last Wednesday by the Office for National Statistics (ONS) revealed. The headline figure followed a month of wet weather, with ONS suggesting that the rain might have affected consumer spending. More positively, the services sector belied the trend and grew by 0.2%, a fourth […]