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The Latest Breaking News from GDP

Defence spending: our research shows how Australia can stop buying weapons for the wars of the past

Australia’s defence spending is on the rise. The future defence budget has already been increased to 2.4% of GDP. There is pressure from the new Trump administration in the United States to raise this further to at least 3%.

The Conversation

New spending on drones and lasers will ‘revolutionise’ UK defence, says Reeves

Chancellor says new money will help turn Britain into a ‘defence industrial superpower’

The Guardian - UK

Rachel Reeves clings on for dear life, but if this spring statement doesn’t work she’ll be out

Far from becoming better any time soon, it looks like things can only get worse

Evening Standard

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Spring statement 2025: Graphs reveal economic impact of Rachel Reeves' plans

GDP and productivity are not likely to grow at the pace that ministers had hoped

Evening Standard

Graph reveals how UK tax burden will hit record high after Spring Statement

Income tax and national insurance contributions are the main drivers behind the jump in the overall tax burden

Evening Standard

Sweden To Boost Defence Spending $30 Bn Over A Decade

Sweden will increase defence spending by about 300 billion kronor ($30 billion) over the next decade, the prime minister said Wednesday, calling it the nation's biggest rearmament push since the Cold War.

International Business Times

UK Spring Statement: Further budget cuts and halved economic growth

Britain's Chancellor of the Exchequer Rachel Reeves has laid out the latest on UK public finances. Her statement arrives at a moment when the nation needs to find billions to boost defence spending against the backdrop of an ailing economy. Here are the key takeaways.

Euronews

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Russia’s ceasefire delays suit Ukraine - if it survives another year, Kyiv can win the war

NEWS ANALYSIS: Russia is manipulating ceasefire terms over the Black Sea and energy, but that suits Ukraine and gives Kyiv time to build up help from Europe writes World Affairs Editor Sam Kiley

The Independent UK

Inflation to rise to 3.2% for 2025 as OBR slashes growth forecast

The Government’s official forecaster has also warned that interest rates are set to stay higher for longer

The Independent UK

Inflation to rise to 3.2% for 2025 as growth forecast slashed – OBR

The Office for Budget Responsibility (OBR) said on Wednesday that it expects UK gross domestic product (GDP) to rise by 1% in 2025.

Evening Standard

Forbes hails ‘strong start to the year’ after economy grew 0.3% in January

The Deputy First Minister welcomed the figures ‘in the context of global economic uncertainty’.

Evening Standard

Scotland economy outperforming UK as whole, new figures show

SCOTLAND recorded an increase in GDP at the start of 2025 while the UK as a whole saw the economy contract, according to new figures ...

The National (Scotland)

Recession Risk: Is It Going to Happen? Here Are the Key Clues

Recession is the word that's been making headlines as recent economic reports and especially the Atlanta Fed is stoking fears with its GDPNow real-time forecast

MarketBeat

Tackling climate crisis will increase economic growth, OECD research finds

Third of global GDP could be lost this century if climate crisis runs unchecked, says report

The Guardian - UK

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The Guardian - UK

Further benefits cuts planned as Rachel Reeves forced to find extra £1.6bn

Chancellor risks wrath of Labour backbenchers with spring statement set to confirm deeper cuts

The Independent UK

Welfare in numbers: The facts behind Britain’s soaring benefits bill

As Labour attempts to tighten Britain’s burgeoning welfare belt, Alicja Hagopian and David Maddox investigate the true cost of the welfare state

Evening Standard

UK has highest property taxes of any developed nation, analysis shows

The country’s property tax burden was 3.7% as a proportion of gross domestic product (GDP) in the 2023/24 tax year.

The Conversation

Should Australia increase its defence spending? We asked 5 experts

Both Labor and the Coalition are considering an increase to defence spending ahead of the federal election.

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The Guardian - UK

What are Rachel Reeves’s fiscal rules and could they be changed?

What are the economic constraints that underpin the chancellor’s spring statement – and why does she see them as vital?

Fortune

US debt could explode above 200% of GDP in two decades if Trump's tax cuts become permanent, CBO says — putting it at unsustainable levels

"Macroeconomic feedback effects would further increase interest rates and, therefore, lead to even worse fiscal outcomes," the Peter G. Peterson Foundation warned.

The Guardian - UK

US-EU trade war could cost Ireland more than €18bn, says report

Report co-authored by Irish government also finds tariffs could cause job losses and relocation of US multinationals

Euronews

Lengthy trade wars could cut global investment by one-tenth, warn economists

Uncertainty around trade will have a major impact on global growth, reducing business investment in the EU and the UK by 2% this year, Oxford Economics finds.

Fortune

Amid a grimmer outlook from the Fed, there’s a lone, mysterious holdout predicting stronger economic growth

The Fed’s consensus for GDP growth dropped from 2.1% to 1.7% after its latest round of economic forecasts published Wednesday.

The Independent UK

Taiwan's president says the defense budget will exceed 3% of GDP in military overhaul

Taiwanese President William Lai Ching-te said Thursday that the island’s defense budget will exceed 3% of its economic output as it overhauls its military in the face of the rising threat from China

Fortune

Brian Moynihan says consumers are in a ‘classic’ situation of worrying about money but continuing to spend

Brian Moynihan said consumers, once again, are the backbone quietly propping up the American economy.

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