17 March 2025 | Other

UK to slash regulation and social spending to support economic growth: Bloomberg

UK to slash regulation and social spending to support economic growth: Bloomberg

Bloomberg reports that the UK government will abolish several business regulatory bodies and cut welfare spending to stimulate the country's stagnant economy.

According to Chancellor of the Exchequer Rachel Reeves, slashing business regulation will bring relief to the economy by reducing bureaucratic burdens, increasing investment, and creating new jobs.

On Monday, Reeves is to hold a meeting with representatives of the UK's eight main regulators. Officials will discuss a plan to cut spending on business regulation by a quarter. Meanwhile, according to Bloomberg, Work and Pensions Secretary Liz Kendall will present guidelines to cut welfare spending by 6 billion pounds ($7.74 billion).

However, the intentions of officials to reduce spending on social security face criticism. Thus, the issue was addressed by the Resolution Foundation think tank. Its experts are skeptical about balancing the budget at the expense of social payments, instead suggesting tax increases as a solution to the problem.

Period: 23.11.2026 Expectation: 170 pips
Buy Brent crude with $120 in sight
23 October 2026 33
Gold sell
Period: 06.11.2026 Expectation: 120 pips
Gold sell-off targets $3,890
23 October 2026 30
Period: 22.11.2026 Expectation: 145 pips
Invest in S&P 500 with 7,845 in mind
22 October 2026 43
Period: 22.11.2026 Expectation: 2400 pips
Sell Bitcoin down to $80,500
22 October 2026 40
Period: 04.11.2026 Expectation: 2700 pips
Go long on NVIDIA stock with $243 in view
21 October 2026 59
Period: 04.11.2026 Expectation: 1300 pips
EURUSD sell-off targets 1.0000
21 October 2026 56
Go to forecasts