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: 03.03.2026 Expectation: 4000 pips
BTCUSD extends losses on fresh US trade restrictions
Today at 10:36 AM 14
Lyra_Moonwell1
Lyra_Moonwell1

Listed among the best MarketCheese authors
1st in the segment "Oil and gas"
Period: 01.03.2026 Expectation: 300 pips
Investing in Brent crude as it breaks through resistance
Today at 09:06 AM 10
Period: 03.03.2026 Expectation: 950 pips
AUDUSD is trading in flat as markets digest tariff uncertainty
Today at 07:56 AM 10
Period: 31.03.2026 Expectation: 400 pips
Selling GBPUSD on expectations of BoE rate cut
Today at 07:02 AM 10
Period: 01.03.2026 Expectation: 7500 pips
Investing in silver with $86 in sight
20 February 2026 84
Brent sell
Period: 28.02.2026 Expectation: 90 pips
Brent crude selloff with $71.30 target
20 February 2026 73
Go to forecasts