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The Guardian Politics23 Aug 2026

UK productivity growing faster than official figures suggest, thinktank finds

Resolution Foundation suggests economy may finally be emerging from shadow of 2008 financial crisis Productivity in the UK – a vital measure of economic health – is growing more strongly than official figures suggest, according to analysis from the Resolution Foundation. The thinktank suggests the chancellor, John Healey, may have inherited an economy finally starting to emerge from the long shadow of the 2008 global financial crisis. Continue reading...

Economy
The Guardian Politics23 Aug 2026

Drill, Burnham, drill? The oil basin that is a totem for Trump - and a headache for Britain’s new PM

North Sea oil, once the driving force of the UK economy, may be dwindling but it remains a symbol of prestige and a rich resource for political debate When oil was first discovered off the north-east coast of Scotland in September 1969, industry folklore has it that the duty superintendent on the rig carefully poured it into a pickle jar commandeered from the canteen and took it back to Amoco’s Great Yarmouth office in Norfolk. There, it was emptied into an ash tray, sniffed and then set alight.

PoliticsEconomy
The Guardian Politics22 Aug 2026

‘We fear lessons will not be learned’: Chloe Moffat’s parents on their fight to hold Treasury to account

Couple considering suing for wrongful death after coroner found disciplinary process materially contributed to suicide When a coroner ruled this month that the Treasury “materially contributed” to Chloe Moffat’s death, her parents breathed out in bittersweet relief. For a year, David and Anne Moffat had been forced to become detectives in the worst case any parent could have to solve: why their daughter took her own life. Chloe, 26, went to her job as a personal assistant at the Treasury on a Mo

EconomyHousing
The Guardian Politics21 Aug 2026

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 earlier The UK government ran a larger than expected £1.8bn deficit in July, underlining the challenges facing the chancellor, John Healey, as he draws up his first budget. City economists had expected a shortfall of zero for July, a month when Treasury receipts tend to be swollen by self-assessment income tax payments. Continue reading...

Economy
The Guardian Politics20 Aug 2026

Reform’s new economic adviser has called for end of pensioners’ triple lock

Exclusive: Mitchell Palmer has also argued for privatising the NHS and immigration as way of cutting poverty Reform UK’s new economic adviser has previously called the pensions triple lock unsustainable, advocated privatising the NHS and welcomed migration as a poverty alleviation tool, the Guardian can reveal. Robert Jenrick, Reform’s economic spokesperson, has appointed Mitchell Palmer, a rightwing economist at the free-market Adam Smith Institute, as one of his key aides. Continue reading..

EconomyImmigrationReformHealthcare
The Guardian Politics19 Aug 2026

Taxpayers to fund clear-up of illegal dumps in West Yorkshire, Surrey and Kent

Andy Burnham promises drive to tackle toxic waste, raise fines and use AI-powered drones to detect illegal activity Illegal dumps in West Yorkshire, Surrey and Kent will be cleared up using taxpayer money, Andy Burnham has announced, as the prime minister promises a new drive to tackle toxic waste. Ministers have identified dumps in Bradford, Runnymede and the Isle of Sheppey, which collectively contain about 22,000 tonnes of illegal waste, to be cleared in the next phase of the government’s nat

PoliticsEconomy
The Guardian Politics19 Aug 2026

What has Burnham promised since he became PM, and when will it happen?

From cutting household bills to cheaper bus fares, how will the measures announced be put into action? Since becoming prime minister, Andy Burnham has floated a number of policies, ideas and ambitions for his government, from shifting power out of Westminster, bringing services like transport under public control and addressing the rising cost of living. But many of his promises are not actually firm commitments, so what has he pledged, how much will it cost and when should the public expect to

PoliticsEconomy
The Guardian Politics19 Aug 2026

Can Andy Burnham tame the power of the Treasury to boost growth?

PM wants to reduce department’s stranglehold on public purse and bring long-term thinking to economic policy Andy Burnham is far from the first prime minister to dream of taming the power of the mighty Treasury. Boris Johnson all but forced the resignation of Sajid Javid by handpicking his team; Margaret Thatcher favoured her economic adviser Alan Walters over Nigel Lawson, prompting the latter’s furious resignation; Tony Blair and Gordon Brown’s power struggle was the stuff of Whitehall legend.

Economy
The Guardian Politics19 Aug 2026

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 rises UK inflation rises to 2.9% Business live – latest updates July’s increase in inflation, to 2.9%, is likely to be the first of several, underlining the challenge facing Andy Burnham in shielding consumers from a fresh cost of living squeeze this autumn. Rising energy bills, as an increase in Ofgem’s quarterly price cap came into force, were the main driver of the jump in inflation, from 2.6% in June.

Economy
The Guardian Politics18 Aug 2026

Top economists urge Burnham to sign UK up to UN initiative on global inequality

Open letter signed by 40 academics including Nobel winner Joseph Stiglitz and Kate Pickett, co-author of The Spirit Level Forty prominent progressive academics are urging Andy Burnham’s government to join a new global push to tackle inequality. The experts include Nobel winner Joseph Stiglitz, University College London professor Mariana Mazzucato, vice-chancellor of the London School of Economics Larry Kramer, and Kate Pickett, co-author of The Spirit Level. Continue reading...

EconomyEducation
The Guardian Politics17 Aug 2026

JP Morgan boss Jamie Dimon warns UK chancellor not to hike taxes on banks

Billionaire CEO of world’s biggest bank says any windfall tax on sector’s bumper profits could harm jobs in the City Jamie Dimon, the boss of the US bank JP Morgan, has urged John Healey not to use his first budget as chancellor to increase taxes on banks’ bumper profits. Speculation has been growing that a windfall tax could be imposed on UK lenders to fund Andy Burnham’s cost of living agenda, with campaigners estimating such a move could raise £19bn. Continue reading...

EconomyDefence
The Guardian Politics16 Aug 2026

Andy Burnham has barely acknowledged the climate crisis. If only Britain’s workers had that luxury | John Harris

Nurses collapsing, builders with heatstroke, bus drivers in cabs that reach 44C. The new PM wanted to spend the summer talking about the cost of living – he should change his plans I don’t think I have ever written before about a British strike directly related to the climate emergency. But that’s exactly what began late last week in north London, with a zeitgeisty connection to Andy Burnham’s fixation on buses: picket lines outside depots and massed walkouts, while the temperatures in the relev

EconomyEnvironmentHealthcare