Reuters UK Domestic

Truss, Kwarteng meet UK fiscal watchdog, stick to forecast timetable

By Muvija M and William James LONDON (Reuters) -British Prime Minister Liz Truss and her finance minister Kwasi Kwarteng on Friday refused to bow to demands to publish an early forecast of government growth plans and the impact of planned tax cuts which have led to turmoil in the financial markets. Kwarteng unveiled a string …

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UK’s Liz Truss: Putin cannot alter international borders using ‘brute force’

LONDON (Reuters) -Britain will never accept the regions of Donetsk, Luhansk, Kherson and Zaporizhzhia as “anything other than Ukrainian territory” Prime Minister Liz Truss said, adding that Russian President Vladimir Putin was violating international law. “Putin cannot be allowed to alter international borders using brute force. We will ensure he loses this illegal war,” Truss …

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Britain turned net exporter of electricity in second quarter, report says

LONDON (Reuters) – Britain turned a net exporter of electricity to Europe in the second quarter for the first time in over a decade, a report by academics from Imperial College London for Drax Electric Insights showed. From April to June, 8% of the electricity generated by Britain, around 5.5 terawatt-hours (TWh), was exported through …

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UK house prices stagnate for first time since mid-2021, Nationwide says

LONDON (Reuters) -British house prices failed to rise in monthly terms for the first time since July 2021, mortgage lender Nationwide said on Friday, a latest sign of the slowdown in the market caused by the cost-of-living squeeze and rising interest rates. House prices were unchanged from August and were 9.5% higher than in September …

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UK minister says government will work with OBR on economic forecasts

LONDON (Reuters) – Britain’s City minister Andrew Griffith said on Friday that Prime Minister Liz Truss and finance minister Kwasi Kwarteng would meet the independent fiscal watchdog regarding economic forecasts. “We all want the forecasts to be as quickly as they (OBR) can but also .. you also want them to have the right level …

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British PM Truss to attend European political summit in Prague -source

LONDON (Reuters) -British Prime Minister Liz Truss will attend the first summit of the European Political Community in the Czech Republic next week, a government source said on Thursday. Truss’ advisers have also offered to host the forum’s next summit in Britain, an EU diplomatic source said. Politico, which first reported Truss’ attendance at the …

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UK’s Truss sticks with tax cuts as she breaks silence after market rout

By Muvija M and Kate Holton LONDON (Reuters) -British Prime Minister Liz Truss said on Thursday she would stick to her controversial plan to reignite economic growth, breaking her silence after nearly a week of financial market chaos triggered by the government’s push for huge tax cuts. A day after the Bank of England resumed …

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