Author: Heather Stewart Economics editor

BudgetBudget deficitBusinessEconomic policyEconomicsGovernment borrowingJohn HealeyOffice for Budget ResponsibilityOffice for National StatisticsPoliticsTax and spendingUK news

UK reports unexpected deficit of £1.8bn as John Healey prepares for first budget

July data shows total public debt was £2.98tn, or 94% of GDP – up £96bn on a year earlierBusiness live – latest updatesThe UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, a…

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Andy BurnhamBusinessEconomic policyEconomicsEnergy billsInflationJohn HealeyMoneyPoliticsUK cost of living crisisUK news

Rising inflation underlines scale of Andy Burnham’s cost of living challenge

PM’s plan to shield households from more pressure risks being overwhelmed by wider price risesUK inflation rises to 2.9%Business live – latest updatesJuly’s increase in inflation, to 2.9%, is likely to be the first of several, underlining the challenge…

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BusinessClimate crisisEconomic growth (GDP)Economic policyEconomicsEnvironmentEuropeExtreme heatLondonPoliticsSadiq KhanThinktanksUK newsUK weatherWildfires

UK heatwaves may have cost economy £4.4bn in lost output so far this year, analysis finds

Verdant thinktank says cost could top £25bn a year by 2030 and calls for maximum temperature for working and urban redesign to cool down citiesRepeated debilitating heatwaves this summer are likely to have cost the UK economy more than £4bn in lost eco…

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