A report from the Centre for Economics and Business Research has claimed that around 4.7 million homes in the UK are now living in food poverty. Food poverty is defined in the reports as spending 10% or more of household income on food. Whilst the 10% mark may not sound like a lot, this is…

The Bank of England has shown that it is considering something that, previously, would have been thought utterly ludicrous, as the deputy governor for financial stability, Paul Tucker, suggested that the Bank might consider setting the base interest rate in the negatives. The reasoning behind it is that, with a negative interest rate, lenders would…

The Office for National Statistics has revealed the figures for the UK’s GDP in the last three months of 2012 and delivered the news that the economy shrank by 0.3% from the beginning of October to the end of December 2012. This is much larger than the 0.1% contraction which had been predicted by most…

The huge amount of debt that is built up around the world is a major concern, according to a report issued by the World Economic Forum (WEF) ahead of its annual meeting. Listing five factors that posed the biggest threat to global economic stability, the loans that governments around the world depend upon were highlighted.…

In what has been viewed as a major part of the rescue of the Spanish economy, Europe finally handed over the money to bail out Spain’s ailing banks, giving out billions of euros in exchange for a sweeping series of cuts and restructuring throughout the banks’ businesses. The bank that’s been grabbing most headlines due…

The pressure easing on millions of British households from falling inflation could be short lived as warnings emerged that fuel prices could head for £1.50 per litre combined with poor harvests affecting food costs. The price of crude oil has been forced up in price due to rising tensions in the Middle East along with…

Economists have issued a warning that the UK’s return to a second official recession could cause a abrupt fall in house prices. The country’s fresh downturn is expected to dampen consumer confidence which is already very low, further increasing the chances of a housing market slump. Howard Archer, chief economist as IHS Global insight said…

The UK has slumped into a double dip recession for the first time since 1975 after the GDP fell by 0.2 per cent for the first quarter of 2012. Economists predicted that the GDP would grow by 0.1 per cent which didn’t match the figures released by the ONS. The UK’s GDP has to shrink…