Weekly Digest – 10 July 2024

Weekly Digest – 10 July 2024

Welcome to our Weekly Digest – stay in the know with some recent news updates relevant to business and the economy.

Rachel Reeves: Who is the UK’s new chancellor?

“Serious” and “determined” are words often used to describe Rachel Reeves, the former Bank of England economist who has become the UK’s first female chancellor.

New government offers an opportunity to rebuild trust and unlock the UK’s latent economic potential

Responding to the victory of the Labour Party at the General Election, Jonathan Geldart, Director General at the Institute of Directors, said: “I would like to congratulate the Labour Party on their seismic result at the General Election. The IoD looks forward to working with the new government to create a resurgent UK economy in which individual companies and directors have the confidence to invest and grow.”

What will Labour’s ‘securonomics’ mean for the UK economy and investments?

Graham Hook, Head of UK Government Relations and Public Policy at Invesco says: “Introduced as Labour’s response to the retreat from ‘hyper-globalisation’ and in the face of increasing geopolitical insecurity, securonomics is essentially about improving the economic security and resilience of the nation, with the state playing a more active, directing role in markets.

What the UK Election Result could mean for investors

Following Labour’s election win on Friday, here are some views from Coutt’s experts on what it could mean for financial markets and our client portfolios and funds.

Labour must partner with businesses in the impact economy

The article discusses the need for Labour to collaborate with businesses in the impact economy to drive positive change. Emphasizing the importance of partnerships, it highlights how aligning with purpose-driven companies can lead to sustainable growth and social impact. It calls for a strategic approach to leverage these opportunities effectively.
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UK economy is turning a corner amid softer global growth

Following a technical recession in the second half of 2023, the UK economy has shown tentative signs of renewed momentum, with growth of 0.5% expected this year, and 0.9% in 2025, according to the latest KPMG Global Economic Outlook.

Small businesses are calling on the next government to make changes to tax and business rates

Small businesses in the UK are urging the next government to overhaul policies relating to tax, business rates and international trading.

Labour win brings few hopes or fears to London’s financial district

Labour’s landslide election win shows few signs of unsettling London’s financial heartland after the party’s lengthy pro-business overtures, though many in finance remain wary they could be targeted to prop up Britain’s stretched public finances further down the line.

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