Rolling coverage of the latest economic and financial news
Wall Street banking giant JP Morgan has just given the UK economy, and the Starmer/Reeves government, a vote of confidence.
JP Morgan has announced it will build a new three-million square foot “landmark tower” in London’s Canary Wharf financial district, to be its new UK HQ.
“London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy. This building will represent our lasting commitment to the city, the UK, our clients and our people. The UK government’s priority of economic growth has been a critical factor in helping us make this decision.”
“My Budget doubles down on growth as our number one priority by creating the conditions for businesses to invest and succeed. I am thrilled that JPMorganChase has chosen London for its landmark new building – a multi-billion pound vote of confidence in the UK economy and this government’s plans for growth, which are built on the rock of stability.”
Taking the chance offered by a helpful official forecast to avoid hard decisions has increased the Chancellor’s and Prime Minister’s chance of political survival.
The fall in yields and strengthening of the pound is probably more due to the waning of political risk rather than any changes to official forecasts or the policy package.”
Continue reading…Rolling coverage of the latest economic and financial newsRachel Reeves targets UK’s wealthiest in £26bn tax-raising budgetWall Street banking giant JP Morgan has just given the UK economy, and the Starmer/Reeves government, a vote of confidence.JP Morgan has announced it will build a new three-million square foot “landmark tower” in London’s Canary Wharf financial district, to be its new UK HQ.“London has been a trading and financial hub for more than a thousand years, and maintaining it as a vibrant place for finance and business is critical to the health of the UK economy. This building will represent our lasting commitment to the city, the UK, our clients and our people. The UK government’s priority of economic growth has been a critical factor in helping us make this decision.”“My Budget doubles down on growth as our number one priority by creating the conditions for businesses to invest and succeed. I am thrilled that JPMorganChase has chosen London for its landmark new building – a multi-billion pound vote of confidence in the UK economy and this government’s plans for growth, which are built on the rock of stability.”Taking the chance offered by a helpful official forecast to avoid hard decisions has increased the Chancellor’s and Prime Minister’s chance of political survival.The fall in yields and strengthening of the pound is probably more due to the waning of political risk rather than any changes to official forecasts or the policy package.” Continue reading…