Following a robust economic growth, British housing sector indicated a slow downing in January. According to Nationwide British house prices rose by 0.3 percent to mark slowest growth rate in past eight months. The latest figure reveals that the moderate rise reduced the annual rate of house price i[...]
Posts Tagged ‘UK Economy’
June 14th, 2012 - 10:39 am § in News Of Economy
Another upward rate revision could hit UK growth
A recent report has warned that if Bank of England continued to raise interest rates, UK economic growth could fall below 2 percent. The British Chamber of Commerce (BCC) in its latest report indicated that UK’s economic growth may take a downward direction if the central bank decides to raise[...]
June 14th, 2012 - 10:39 am § in News Of Economy
British trade deficit grows to hit record
The UK’s monthly trade deficit with the rest of the world shot up in December to its biggest since May. The country also hit a record annual trade gap. According to the Office of National Statistics the trade deficit stands around £7.14 billion in December. The deficit in the previous month w[...]
May 28th, 2012 - 1:51 pm § in News Of Economy
UK Interest rates unchanged after fall in inflation
The Bank of England has decided to hold UK interest rates unchanged at 5.25 percent. The decision to hold the rate was also taken with a view to help the stock market to continue its comeback from recent heavy setbacks. Despite the fact that it is good news for borrowers this month, many experts sti[...]
May 23rd, 2012 - 1:43 pm § in News Of Economy
Gordon Brown prepares his way to succeed Tony Blair with tax-cuts
The chancellor Gordon Brown has announced a two per cent cut in basic income tax in the recently presented Budget which he claimed would ‘expand prosperity and fairness for Britain’s families’. It will be funded by the elimination of the lower 10 pence rate for the tax and an incre[...]
April 9th, 2012 - 6:40 am § in News Of Economy
Migrant Workers boosting British economy: Report
The British economy is at advantage from the influx of migrant workers and some sectors would ‘collapse’ if they were taken out overnight, say a latest report. According to the report released by TUC, migrant workers have actually helped to improve the UK economy and concluded that with their in[...]