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The Guardian Politics16 Jul 2026

UK economy grew by 0.1% in May despite impact of Iran war

Rise in GDP follows a 0.1% decline in April, figures from the Office for National Statistics show The UK economy grew by 0.1% in May, despite the impact of the Iran war on energy costs, official figures show. The Office for National Statistics said GDP rose, following a 0.1% decline in April. The figures were in line with a 0.1% rise in May that economists had forecast. Continue reading...

EconomyDefence
The Guardian Politics16 Jul 2026

Burnham must avoid ‘summer of speculation’ on tax, warns CBI chief

Rain Newton-Smith calls for a new generation of public-private partnerships to fund major projects Andy Burnham must avoid another “summer of speculation” on tax and spend that would spook British business, the chief executive of the CBI has warned. As Burnham prepares to take up the Labour leadership on Friday, with a new cabinet to be announced on Monday, Rain Newton-Smith urged him to tread carefully. Continue reading...

PoliticsEconomyDefence
The Guardian Politics16 Jul 2026

Defence is the one public budget we dare not question – will Andy Burnham break this cycle? | Andy Beckett

Any boost for the military will be paid for by cuts elsewhere. Britain’s new PM should be careful he is not being sold a pup For many British voters, politicians and journalists, public spending has had a bad name since the late 1970s, when Margaret Thatcher’s government began its long campaign to tame the supposedly bloated state. From this perspective, the public sector wastes money, commissions unnecessary or out-of-date projects and generates endless jargon and reasons for its own existence,

EconomyDefence
The Guardian Politics15 Jul 2026

Shabana Mahmood expected to be named Andy Burnham’s chancellor

The home secretary is the frontrunner for the role ahead of ‘risky’ Ed Miliband, according to senior Labour figures Shabana Mahmood has emerged as the frontrunner to become Andy Burnham’s chancellor after a fierce briefing war over the prospect of Ed Miliband being appointed to the powerful role. Senior Labour figures with knowledge of Burnham’s thinking told the Guardian they expected the home secretary to be moved to the Treasury amid concerns that Miliband would become a target for criticism

EconomyDefence
The Guardian Politics15 Jul 2026

Andy Burnham signals a wealth tax is off the agenda for now

Incoming prime minister says he doesn’t want to ‘create new divisions’ as Mahmood is tipped to be chancellor Andy Burnham has signalled that he will not increase wealth taxes immediately after becoming prime minister, easing concerns among the business community but limiting his economic room for manoeuvre. He said on Wednesday he did not want to “create new divisions” with his tax policy, in comments that allies said were a sign that he did not intend to raise money by taxing wealth. Continue

Economy
BBC Politics15 Jul 2026

Burnham does not rule out wealth tax

The expected next PM says he may have to "ask for a little more" in tax and warns of "difficult" choices.

EconomyDefence
BBC Politics15 Jul 2026

Burnham does not rule out wealth tax

The expected next PM says he may have to "ask for a little more" in tax and warns of "difficult" choices.

EconomyDefence
BBC Politics15 Jul 2026

Burnham does not rule out wealth tax

The expected next PM says he may have to "ask for a little more" in tax and warns of "difficult" choices.

EconomyDefence
Express Politics15 Jul 2026

Andy Burnham finally breaks silence on his tax plans as 'summer of chaos' looms

Andy Burnham is set to replace Keir Starmer as Prime Minister on Monday.

Economy
Guido Fawkes15 Jul 2026

Burnham Refuses to Rule Out a Wealth Tax

Andy Burnham has not answered a question from a journalist in two weeks. He has instead done an interview with Gary Lineker in which he refused to rule out a wealth tax: “I’m going to obviously take my time to properly look at the state of things, particularly the state of finances. And I just…

Economy
Express Politics15 Jul 2026

Record 10m over-65s now paying income tax

Soaring number of pensioners dragged into payments due to tax-free personal allowance being frozen and state pension triple lock increases

Economy
Guido Fawkes15 Jul 2026

Liam Halligan Takes Over Centre for Policy Studies

Popular economist Liam Halligan will take over the Thatcherite Centre for Policy Studies as new Director. Lord Spencer, Chairman of the CPS, said: “At a time when government is spending and taxing on a historic scale, and economic growth is consequently evaporating, the mission of the Centre for Policy Studies is more important than ever.…

Economy