Stormy Autumn Ahead for Britain
23/08/2025 by Tony Redondo Who remembers 1976 and the ignominy of Labour Chancellor Dennis Healey going ācap in handā to the IMF (International Monetary Fund) for an emergency bail-out and then the winter of discontent in 1978-1979? Sadly, we all better bone up on history as there are a growing chorus of voices suggesting history […]
Global Wealth
16/08/2025 by Tony Redondo The latest UBS Wealth Report shows that global wealth amounts to USD 471 trillion, with the USA contributing 35%, China 19%, Japan 4.5%, just ahead of the UK, Germany, and France. Europe, comprising the EU, UK, Switzerland, Norway, and Turkey, accounts for 22% with 80% of the worldās wealth divided between […]
A conflicted Bank of England
09/08/2025 by Tony Redondo A conflicted BoE (Bank of England) duly delivered the expected 0.25% interest rate cut last Thursday to take rates down to 4%. Itās the fifth time rates have been cut since last August and takes UK interest rates to their lowest level since March 2023. What was unexpected was the much […]
Itās Decision Time
02/08/2025 by Tony Redondo Itās decision time for the BoE (Bank of England) when they meet on Thursday to decide on the next move in UK interest rates. UBS, Barclays and Lloyds amongst others are expecting a three-way split decision given conflicting data point on a weakening labour market and sticky inflation with five members […]
Down In The Dumps
26/07/2025 by Tony Redondo Both the UK economy and the Pound Sterling are down in the dumps. The UK economyās metrics are increasingly dire. The deficit is now at 5.7% of GDP, the third highest among 28 advanced European economies. Public debt stands at Ā£2.7 trillion, or 96% of GDP, the sixth-highest mark globally. Between […]
Reevesās Reforms
19/07/2025 by Tony Redondo Chancellor Rachel Reeves unveiled pro-growth financial reforms, dubbed the āLeeds Reformsā, aimed at cutting red tape and boosting investment, saying regulation had become āa boot on the neckā of businesses in her Mansion House speech last week. Some may accuse her of having a ābrass neckā given the state of the […]
Further And Faster
12/07/2025 by Tony Redondo Post-election last July, Chancellor Rachel Reeves told her Treasury team that Labourās mission was to ādeliver economic growth that is felt across the country, going further and faster than before.ā After a year in office and her 2024 budget that increased business taxes by Ā£40bn, the Chancellor will be sweating on […]
Are Tariffs Going to Take Centre Stage Again?
05/07/2025 by Tony Redondo President Trumpās 2 April āLiberation Dayā tariff and subsequent announcements pushed tariffs to their highest levels in a century. Itās been calmer of late with the US and China coming to an agreement. Itās also a done deal with Vietnam. A deal with India looks imminent. Trump zeroed in on Canada, […]
U-Turns
28/06/2025 by Tony Redondo Keir Starmerās government has made three major policy U-turns in 2025 (winter fuel payments, grooming gangsā inquiry, and disability benefit cuts). Including significant reversals from his time as opposition leader, the number goes up to between 10-15 major U-turns since 2020. Starmer, deputy PM Angela Rayner and the PMās chief of […]
Is the UK in need of a factory reset?
21/06/2025 by Tony Redondo On 4 July, Labour will have been in power for exactly a year. On reflection, is the UK in need of a factory reset? The UBSās (Union Bank of Switzerland) annual Wealth Report shows the UK has suffered the second highest fall in wealth of any major economy in 2024. Average […]