U.K. Prime Minister Andy Burnham has announced the removal of the tax on home electricity to provide cost-of-living relief. The government will fund this by cancelling plans for a digital ID to maintain fiscal discipline.

Following the resignation of Sir Keir Starmer, Prime Minister Andy Burnham has appointed John Healey as Chancellor of the Exchequer. The administration's focus on regional decentralization and fiscal policy changes has triggered volatility in UK bond markets.

The pound surged as markets reacted to the anticipated appointment of the fiscally conservative Mahmood, though analysts warned the rally reflects relief.

With a leadership transition expected on 20 July, Chancellor Rachel Reeves is pivoting her economic strategy while facing criticism over policy and welfare.

China's economic expansion slowed to its lowest point since the final quarter of 2022, prompting financial institutions to downgrade full-year forecasts. Policymakers are now considering fiscal interventions to address the imbalance between strong export growth and weak demand.

New OBR data projects that UK debt could surge to 300% of GDP, as economic proposals from Andy Burnham face scrutiny regarding borrowing and fiscal stability.

A Policy Exchange report warns that the UK could face national bankruptcy due to international climate litigation following a landmark UN-endorsed ruling. The think-tank suggests the government consider withdrawing from the ICJ's compulsory jurisdiction to protect against these liabilities.