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: 16.11.2026 Expectation: 5700 pips
Invest in GBPUSD up to 1.38700
16 October 2026 42
Period: 31.10.2026 Expectation: 1300 pips
Selling AUDCAD from 0.9890
16 October 2026 40
Period: 16.11.2026 Expectation: 280 pips
Buy Brent crude with $106.15 in view
16 October 2026 24
Period: 31.10.2026 Expectation: 500 pips
Go short on AUDUSD due to anemic labor market in Australia
15 October 2026 65
Period: 15.11.2026 Expectation: 6000 pips
USDJPY sell-off targets 152.00
15 October 2026 94
Period: 15.11.2026 Expectation: 265 pips
Sell ETHUSD upon breaking $2,350 support
15 October 2026 67
Go to forecasts