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The Latest Breaking News from GDP

Invest in defence now or start learning Russian later, NATO secretary general says

The US has appointed a new Supreme Allied Commander to Europe (SACEUR), much to the relief of NATO allies. Ahead of a major summit in The Hague later this month, allies have agreed to raise spending to 5% of GDP and invest in new capabilities designed to deter the threat…

Euronews

UK could face up to £30bn of tax rises to fund defence spending boost, economist says

Sir Keir Starmer has vowed to boost defence spending to 2.7 per cent of GDP by 2027, as Nato allies push for ‘dramatic increase’

The Independent UK

The fourth-largest economy hype: What the media didn’t tell you

The International Monetary Fund recently stated that India is set to surpass Japan to become the fourth-largest economy in the world in 2025. While the projection masked the underlying realities of the average Indian, it was enough for the mainstream Indian media to rush to celebrate.

Newslaundry

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Best Countries To Live In 2025: What The Rankings Don’t Reveal

Best Countries To Live In 2025: Beyond The Rankings. Which country offers the best quality of life? Explore top destinations like Norway, Sweden and Denmark.

Bored Panda

Eurozone economy grows by 0.6%: Lagarde shuts door on July rate cut

The eurozone gross domestic product grew by 0.6% quarter-over-quarter in the first quarter of 2025, marking the strongest pace of growth since late 2022. ECB's President Christine Lagarde hinted that a July pause in rate cuts may be warranted.

Euronews

Most NATO members endorse Trump's demand to up defence spending to 5% of GDP, Mark Rutte says

US President Donald Trump insists that US allies should spend at least 5% so America can focus on security priorities elsewhere, mostly in the Indo-Pacific and on its own borders.

Euronews

Elon Musk Supports Warren Buffett’s Idea to Ban All Members of Congress from Re-election if the Deficit Exceeds 3% of U.S. GDP

Buffett and Musk back a proposal barring Congress from reelection if the deficit exceeds 3% of GDP, sparking bipartisan debate on spending.

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UK faces calls for 5% GDP defence spend, ahead of PM’s meeting with Nato chief

Mark Rutte, the secretary general of the alliance, said on Thursday he is proposing Nato members spend 5% of gross domestic product (GDP) on defence.

Evening Standard

Hegseth says Nato allies ‘very close’ to raising defence spending target to 5%

US defence secretary says he expects goal of 5% of GDP in next decade to be agreed this month

The Guardian - UK

What is the spending review? Everything Rachel Reeves could announce to fix UK economy

The Independent looks at what the spending review is, why the government has launched one and what is expected to be in it

The Independent UK

Donald Trump says Russia and Ukraine like ‘children fighting in a park’ in White House meeting with Friedrich Merz – as it happened

US president adds ‘sometimes you’re better off letting them fight for a while’ as he and German chancellor also express unhappiness with Russian invasion

The Guardian - UK

Day of high drama in Tasmanian politics – as it happened

This blog is now closed

The Guardian - AU

Productivity pickle a top priority for upbeat treasurer

Falling interest rates and Australia's competitive advantages are reasons for optimism, says the treasurer as he sets his sights on improving productivity.

AAP

The good news? Household living standards are on the rise. The bad news? Just about everything else

Australia’s weak economic growth is not surprising when you factor in what’s going on with households, private investment, trade and government spending

The Guardian - AU

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Euronews

Russia developing multiples more ammunition than NATO, says Secretary General Mark Rutte

NATO allies must commit to spending 5% of GDP on defence, as Russian threat looms, says NATO Secretary General Mark Rutte. Within three months, Russia develops four times the amount of ammunition NATO countries produce in a year, he said.

The Independent UK

Head of Nato suggests alliance should look to ‘equalise’ US defence contribution

Mark Rutte said allies will find themselves ‘in great difficulty’ if the current 2% GDP spending target is maintained.

Euronews

Amazon outlines job initiatives in Europe's low-employment areas

Amazon has outlined to Euronews how it is planning to boost job initiatives in Europe's low-employment areas as it also releases its latest impact report.

The Conversation

Extreme weather events have slowed economic growth, adding to the case for another rate cut

Australia’s economy slowed sharply in the March quarter, growing by just 0.2% as government spending slowed and extreme weather events dampened demand. That followed an increase of 0.6% in the previous quarter.

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AAP

Australian shares surge towards record close

Australian shares have rallied as Australia's largest company hit a share price record, while weaker than expected GDP figures boosted interest rate cut hopes.

AAP

Economy stalls as private sector fails to pick up slack

More rate cuts might be needed to boost Australia's fragile economy with soft household consumption figures contributing to stalled growth.

Evening Standard

OPINION - The Strategic Defence Review marks a step change but raises questions more than answers

Most pertinent questions are over money, people, and time, our Defence Editor Robert Fox writes

The Independent UK

Labour ‘at war’ over Reeves’ spending review amid fears manifesto pledges will be ditched

Chancellor is facing a push to consider wealth taxes instead of cuts before she publishes her spending review next week

The Independent UK

Starmer set to spend 3.5% of GDP on defence in bid to keep Trump happy

IN FULL

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Best Countries To Live In 2025: What The Rankings Don’t Reveal

Best Countries To Live In 2025: Beyond The Rankings. Which country offers the best quality of life? Explore top destinations like Norway, Sweden and Denmark.

The Guardian - UK

Destroying our natural wealth makes us poorer in every sense of the word

Partha Dasgupta’s landmark study provided way to put a value on nature – but many fear report has been sidelined

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