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: 29.06.2026 Expectation: 730 pips
Invest in AUDCAD with 0.99500 target
29 May 2026 34
Period: 05.06.2026 Expectation: 1525 pips
GBPUSD may find its footing as selling storm subsides
29 May 2026 26
Brent sell
Period: 05.06.2026 Expectation: 700 pips
Brent crude loses ground amid looming US-Iran peace deal
29 May 2026 24
Period: 29.06.2026 Expectation: 1650 pips
Buying USDCAD with 1.39500 in view
29 May 2026 17
Gold sell
Period: 28.06.2026 Expectation: 400 pips
Selling gold upon breaking below support
28 May 2026 104
Period: 31.08.2026 Expectation: 5000 pips
Invest in USDJPY from 155.00
28 May 2026 42
Go to forecasts