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UK Retail Sales Fall, Borrowing Surge Warn Against Tax Rises in Budget

  • Written by James Skinner

UK retail sales were little changed in December after an anticipated rebound failed to materialise and government borrowing surged ahead of the festive holidays in what economists say should be taken by Chancellor Rishi Sunak as a warning against any tax rises in the March budget. 

Read more: UK Retail Sales Fall, Borrowing Surge Warn Against Tax Rises in Budget

UK GDP: Lockdown 2 Downturn Not as Severe as Forecast

  • Written by Gary Howes

UK GDP decline

The UK's economy contracted by 2.6% during November 2020, a decline that will not be surprising given the UK economy was subject to a second national lockdown owing to rising covid-19 cases.

Read more: UK GDP: Lockdown 2 Downturn Not as Severe as Forecast

Inflation Rises Faster than Expected in December, Heralding an Acceleration in 2021

  • Written by Gary Howes

Inflation rises

UK inflation rose again in December and surpassed the expectations of market participants, but the rises are not yet significant enough to suggest there is any reason for the Bank of England to shift course on interest rates or other monetary policy settings.

Read more: Inflation Rises Faster than Expected in December, Heralding an Acceleration in 2021

Currency Risks for Expat Buyers of Spanish Mortgages Could Rise says Mortgage Direct, Citing CaixaBank and Bankia Merger

  • Written by Gary Howes

Caixabank

It is expected that the merger of CaixaBank and Bankia will be formalised by March 2021, a development that could bring with it some difficulties for those international and expat buyers looking to take out a Spanish mortgage.

Read more: Currency Risks for Expat Buyers of Spanish Mortgages Could Rise says Mortgage Direct, Citing...

HM Treasury's Deficit and Debt Dogma Threatens to Undercut UK's Economic Recovery

  • Written by James Skinner

The UK economy could be on course to recover all of its coronavirus-inspired losses as early as next year, according to forecasts from Capital Economics, although only so long as HM Treasury doesn't opt to snatch defeat from the jaws of victory at the March budget. 

Read more: HM Treasury's Deficit and Debt Dogma Threatens to Undercut UK's Economic Recovery

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