UK economy in United Kingdom

Hospitality pressure

Top UK chefs urge 10% VAT rate for pubs and restaurants

Tom Kerridge, Yotam Ottolenghi, Ravneet Gill and Simon Rogan told BBC Newsnight the current tax burden is squeezing operators already hit by higher costs and weaker consumer spending

Cost of living

VAT cut to lower some family days out this summer

Rachel Reeves said VAT will fall from 20% to 5% on selected attractions, children’s meals and entertainment, but businesses will decide whether to pass on the savings

UK markets

UK borrowing costs hit 18-year high amid Starmer uncertainty

Ten-year gilt yields briefly reached 5.13% as investors weighed political uncertainty, higher oil prices and the risk of looser public spending

Government debt

UK 30-year borrowing costs hit highest level since 1998

Yields rose as markets absorbed the impact of the Iran war, higher energy prices and political uncertainty before Thursday’s elections

UK cost pressures

UK prices could stay higher for eight months after Iran war, minister says

Darren Jones said ministers are planning for supply-chain disruption, though price pressure is seen as more likely than empty supermarket shelves