Soaring energy costs and fractured supply chains are set to tip Britain to the edge of a technical recession by the summer, with smaller businesses bearing the brunt of the squeeze, according to the Item Club’s latest forecast. Read more: Britain to ‘flirt’ with recession as Iran oil shock rattles SMEs
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EY analysis reveals that raising UK defence expenditure to up to 5% of GDP by 2035 could generate £30bn a year in additional economic output and support domestic manufacturing and R&D. Read more: Higher defence spending could unlock £30bn annual boost for UK economy
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UK businesses expect higher inflation and fewer rate cuts as energy prices surge following the Iran war, according to Bank of England data. Read more: Inflation fears surge as rate cut hopes fade for UK businesses
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Regions across England and Wales will receive up to £20m each to boost innovation in sectors including AI, clean energy and advanced manufacturing. Read more: Regions from Teesside to Cornwall awarded up to £20m to boost innovation
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The US has warned Keir Starmer’s plans to align with EU rules could disrupt UK-US trade, raising concerns over future economic ties. Read more: US warns Starmer’s EU reset could strain UK trade ties
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A proposed UK holiday tax could cost 33,000 jobs and reduce tourism spending by £1.8bn, with industry leaders warning it would harm growth and competitiveness. Read more: Holiday tax could cost 33,000 jobs and £700m in lost revenue, industry warns
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Chancellor Rachel Reeves has unveiled a £2bn AI investment plan to make the UK the fastest adopter in the G7, boosting growth, infrastructure and innovation. Read more: Rachel Reeves unveils £2bn AI push to make UK fastest adopter in G7
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The UK and Ireland deepen economic ties as £937m in Irish investment creates 850 jobs and new energy interconnectors strengthen energy security at the UK-Ireland Summit in Cork. Read more: UK and Ireland strengthen economic partnership as £937m investment set to create 850 jobs
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UK GDP showed zero growth in January as households cut spending on restaurants and hospitality, highlighting a fragile economy ahead of potential inflation shocks from the Middle East conflict. Read more: UK economy stalls in January as hospitality slowdown drags growth to zero
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Based at the DIFC Innovation Hub, the Dubai PropTech Hub currently tracks 231 UAE-based PropTech companies, with strong activity in listings, investment and marketing platforms The post DIFC launches PropTech 2033 roadmap for Dubai’s real estate future appeared first on Gulf Business.
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