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A California man posted a TikTok showing he was charged over $50 for a meal at Chipotle, citing inflation and rising costs. The chain increased prices by about 2% nationwide in 2024, amid concerns over affordability and declining store traffic. CEO Scott Boatwright acknowledged struggles with customer retention.
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Recent revisions to UK retail sales data reveal lower growth than initially reported, due to errors in seasonal adjustment. July sales increased by 0.6%, driven by online shopping and good weather, but three-month figures show a decline. Data delays and corrections highlight ongoing issues at the ONS.
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Food inflation in the UK is projected to reach 5.7% by the end of 2025, driven by rising costs from regulation, labour, and packaging. Supermarkets like Aldi report increased sales but warn that further government taxes could push prices higher. Consumer confidence remains cautious amid inflation and political uncertainty.
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Recent UK government borrowing in August hit a five-year high at billion, surpassing forecasts and raising concerns about fiscal stability. The government faces increased pressure to raise taxes amid rising debt interest, sluggish growth, and a widening budget deficit, with upcoming budget plans likely to include tax hikes and spending cuts.
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UK retail sales increased by 2.3% in September, a slowdown influenced by inflation, milder weather, and economic uncertainty ahead of the November budget. Consumer confidence remains high, but cautious spending persists amid fears of tax hikes and economic pressures.
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Travel industry leaders warn that upcoming UK tax increases could raise holiday prices and reduce affordability. Chancellor Reeves plans to address a £50 billion deficit with potential tax rises and spending cuts, sparking concerns about economic growth and consumer costs.
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Reform UK leader Nigel Farage has outlined plans for modest tax cuts, deregulation, and a focus on becoming a pro-business government. The party aims to remove inheritance tax from family farms, raise tax thresholds, and reassess public sector benefits, amid concerns over economic stability and Brexit's impact. The proposals face criticism from Labour and Conservatives.
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UK food prices fell 0.4% in October, the largest decline since late 2020, driven by lower sugar costs. Overall shop prices decreased 0.3%, with discounts in electricals and health and beauty. Food inflation remains high, especially for fresh foods, but non-food prices are now slightly lower than a year ago.
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Chancellor Rachel Reeves has indicated that her upcoming November 26 Budget will include tax increases, breaking Labour's manifesto promises. She cited global and domestic economic pressures, including downgraded productivity forecasts, as reasons for the tough fiscal decisions. Reeves emphasized her focus on NHS, cost-of-living, and debt reduction priorities.
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The UK government faces mounting pressure to support its science and technology sectors. Reports highlight risks of losing investment and talent to the US and other countries, with calls for policy reforms to boost innovation, attract global talent, and lead in quantum and AI development.
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Official UK data shows unemployment increased to 5% in the three months to September, the highest since 2016, amid slowing wage growth and a weakening jobs market. The government faces pressure to adjust fiscal policies ahead of the upcoming Budget, with signals of potential interest rate cuts from the Bank of England.
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UK Chancellor Rachel Reeves has reversed plans to raise income tax ahead of the November 26 budget, citing improved economic forecasts. The move unsettled markets, causing bond yields to rise and the pound to fall, amid fears over fiscal credibility and political stability.
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Energy bills in the UK will increase by 0.2% in early 2026, driven by policy costs despite falling wholesale prices. The price cap will rise to £1,758 annually for typical households, with further increases expected in April due to network and policy levies. The government is considering support measures in the upcoming budget.
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UK inflation fell to 3.6% in October, easing pressure on the Bank of England to cut interest rates. Markets anticipate a rate cut in December amid slowing growth and a weakening labor market, with the upcoming budget expected to influence policy decisions.
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On Nov 26, 2025, UK Finance Minister Rachel Reeves announced over £26 billion in new tax increases, adding to £40 billion raised last year. The budget includes freezing income tax thresholds, a mansion tax, and levies on electric cars amid warnings of slowed economic growth and political challenges for the Labour government elected in 2024.
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Recent articles reveal a leak of the UK budget details before the official announcement, causing market fluctuations and political controversy. The Office for Budget Responsibility (OBR) accidentally published its economic forecast early, contradicting government claims about improved forecasts influencing tax decisions. The incident intensifies scrutiny of government-OBR relations amid ongoing budget debates.
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New UK government forecasts show the tax burden will peak at 38.3% of GDP by 2030/31, driven by increased welfare spending and frozen tax thresholds. The forecasts also predict higher government debt and inflation, with measures including extended threshold freezes and welfare reforms announced in the recent Budget.
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Prime Minister Keir Starmer defended his government's record on public finances amid criticism of a £26 billion tax hike. He emphasized fairness and the need for revenue to fund public services, while Labour's policies on child poverty and welfare reform remain central to the debate. The story is current as of Tue, 02 Dec 2025.
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Rachel Reeves announced a £26bn tax increase to fund public services, despite conflicting forecasts from the OBR suggesting a smaller fiscal gap. She emphasized protecting investment in infrastructure and denied that working-age people bear the main burden. Political tensions and market concerns surround the budget's impact.