Britain’s unemployment rate dropped to a five-year low in February, underscoring the strength of the economic recovery and raising the prospect of a debate among Bank of England officials about whether to raise interest rates.
A five-year squeeze on living standards is coming to an end, providing a boost for Prime Minister David Cameron as he battles opposition claims that ordinary Britons are facing a “cost of living crisis.”
Liberal Democrat leader Nick Clegg attacked the Labour opposition’s “paucity of credibility on the economy” before the release of new U.K. data which may show a five-year squeeze on living standards coming to an end.
Prime Minister David Cameron, whose day began with the resignation of Culture Secretary Maria Miller, finished it with his eyes shut, leaning against a pillar in his London residence as a soprano sang for his Easter reception.
U.K. Prime Minister David Cameron promoted a Treasury minister, Sajid Javid, to the cabinet after Culture Secretary Maria Miller resigned over an expenses probe. It leaves Cameron with just three female cabinet members.
From a corner conference room overlooking the Thames, Michael Sherwood, a vice chairman of Goldman Sachs Group Inc., has the guts to voice publicly what many in London’s centuries-old financial district are increasingly worried about behind closed doors: that threats to Britain’s membership in the European Union are threats to British business.
Ed Miliband, the leader of the U.K.’s opposition Labour Party, will pledge to double the amount of central-government money controlled by regional bodies in an effort to help cities outside London grow.
The U.K. opposition Labour Party is split on its strategy for next year’s election and faces defeat unless it offers an alternative to austerity, according to the leader of the country’s biggest trade union.