Worsening public finances give next PM a sharp ‘reality check’

Highest June deficit for four years shows economic slowdown is feeding throughPledges by Boris Johnson and Jeremy Hunt to cut taxes and increase spending have come just as the UK’s public finances have shown a marked deterioration, according to the lat…

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No-deal Brexit would plunge Britain into a recession, says OBR

Office for Budget Responsibility believes economy would shrink by 2% by end of 2020A no-deal Brexit would plunge Britain into a recession that would shrink the economy by 2%, push unemployment above 5% and send house prices tumbling by around 10%, acco…

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Britain at risk of ‘full-blown’ recession as no-deal Brexit looms – business live

Rolling coverage of the latest economic and financial news, including the Office for Budget Responsibility’s new stress test of the UK economy Newsflash: OBR warns Britain risks ‘full-blown’ recessionHere’s why no-deal would hurtNo-deal Brexit could wi…

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G7 leaders to back tech revolution for African women

Leaders to back Gates Foundation call to help rural poor and women access mobile bankingWorld leaders are to pledge to shape the technological revolution sweeping through Africa by acting to lift the threat of 400 million predominantly rural women bein…

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Pound could fall to parity with dollar on hard Brexit concerns

Fear of ‘hardline’ Boris Johnson and Jeremy Hunt could push sterling down to mid-80s levels, says Morgan StanleyThe pound’s fall to a two-year low against the dollar could be the start of a no-deal Brexit inspired wave of selling that would push sterli…

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London house prices fall at fastest rate in 10 years

It is the biggest plunge since the 7.0% annual drop recorded in August 2009, says ONSHouse prices in London have fallen at their fastest pace since the financial crash a decade ago as the capital bears the brunt of the nationwide torpor in the property…

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London house prices suffer biggest slump since 2009, as pound keeps dropping – business live

Rolling coverage of the latest economic and financial news, as UK housing market keeps slowing and the pound hits fresh lowsBreaking: London house prices fell 4.4% in MayBiggest decline in a decadeUK house price growth slows to 1.2%Introduction: Pound …

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UK living standards hit by rising prices and weak wage growth

Resolution Foundation says households suffering worse than 1990s recessionBritain’s weak wage growth and rising prices have delivered a hit to living standards of a severity normally only seen during a deep recession, a leading thinktank has said.While…

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