6:41 am, November 18, 2025
Budget rumours key reason for weak growth, says former Bank chief economist
Speculation over the upcoming Budget is partly to blame for weaker-than-expected economic growth figures as worries over tax hikes hit business and consumer spending, the former top economist at the Bank of England has warned.
Andy Haldane, who was chief economist at the Bank until 2021, told Sky News’s Mornings With Ridge And Frost that the build-up ahead of the November 26 Budget has been a ‘circus’ and called for the process to be overhauled to prevent leaks that can damage the economy.
It follows official figures last week that revealed economic growth slowed to 0.1% in the third quarter, down from 0.3% in the previous three months and worse than most economists predicted.
More than half of firms freezing investment as Budget fears take toll – report
More than half of British businesses are putting investment plans on hold until after next week’s Budget while uncertainty over taxes and policy is hitting small firms the hardest, according to a report.
The latest Barclays Business Prosperity index survey found 55% of all firms polled are pausing investment decisions until after the Chancellor’s long-awaited Budget, with speculation swirling over whether taxes will or will not be increased.
Small firms are instead boosting their savings and building up a ‘precautionary’ buffer, with savings growing at a greater rate than for large corporates, up 6.1% year-on-year, Barclays said. Small and medium sized companies (SMEs) also remained ‘tentative to borrow to invest’ despite signs of a wider recovery in lending activity.
Cupra reveals most powerful Leons yet with VZ specials
Cupra has revealed the most hardcore variant of the Leon hot hatchback with the VZ TCR.
The new model pays tribute to Cupra’s Leon VZ TCR race car and gets a 320bhp 2.0-litre engine. It also gets a tuned chassis, Akebono performance brakes with six-piston callipers, quad copper exhaust pipes, lightweight alloy wheels, performance tyres, a larger rear spoiler, front and rear splitters, side skirts, and a diffuser.
The 499-unit limited special will also be joined by a VZ model. The VZ will come with a similar array of features, but will be available in higher numbers of 1,500 units. Prices will be revealed at a later date.
The markets
The FTSE 100 closed lower on Monday as investors look ahead to UK inflation data, US nonfarm payrolls figures and results from chip maker Nvidia later this week.
The FTSE 100 index closed down 22.94 points, 0.2%, at 9,675.43. The FTSE 250 ended 131.66 points lower, 0.6%, at 21,687.90, and and the Aim All-Share fell 2.06 points, 0.3%, at 744.45.
Sterling was quoted at 1.3169 dollars at the time of the London equities close on Monday, higher compared to 1.3158 dollars on Friday.
Mahmood battles backlash from Labour MPs over asylum reforms
Home secretary Shabana Mahmood is battling a Labour backlash over plans to ‘restore order and control’ to the asylum system.
Labour backbenchers publicly condemned the ‘shameful’ package, which is aimed at deterring migrants from seeking asylum in the UK and making it easier to remove people with no right to be in the country.
Allies of Mahmood warned that ‘dark forces’ would be unleashed if Labour does not respond to voters’ concerns and tackle the problem.
Agency workers covering for Birmingham bin strikers vote to join picket lines
Birmingham bin strikes could continue beyond May’s local elections unless a deal is reached, Unite the union has said after workers ‘overwhelmingly’ voted to extend their strike action.
Workers who are directly employed by Birmingham City Council will now be joined on picket lines by agency workers employed by Job & Talent on the refuse contract, the union said on Monday.
Unite general secretary Sharon Graham said: ‘This is a real escalation in the dispute with agency workers now joining picket lines due to the terrible way they have been treated by Job & Talent and Birmingham Council.’
Monday on Car Dealer
Auto Trader to launch dealer advisory groups in wake of Deal Builder fall out
Auto Trader boss Nathan Coe has promised to set up dealer advisory panels to help it shape future decisions following the anger aimed at its Deal Builder roll out.
Mitsubishi Motors to introduce new vehicles in the UK next year
Mitsubishi’s distributor in the UK, International Motors Ltd, has announced it will be bringing new models to the UK from summer 2026.
JLR revenues plummet by more than a £1bn as true cost of cyberattack is laid bare
Jaguar Land Rover has revealed the true cost of a devastating cyberattack in financial results for the second quarter.
Big Motoring World more than doubles EVs sold in Q3 compared to previous year
Used car supermarket Big Motoring World has revealed it had its most successful period for electric vehicle (EV) sales in Q3 of 2025.
Vertu expands partnership with Chinese brand BYD with pair of new dealerships
Vertu has added a pair of new BYD dealerships to its portfolio, marking major expansion plans with the Chinese carmaker.
Police launch appeal after six vehicles stolen in Calow dealership raid
Police are appealing for witnesses and information after six vehicles and a number of tools were stolen from a car garage in Calow, Derbyshire.
Weather
Northern England and Scotland will be cloudy with showery rain, sleet and hill snow, while elsewhere sees bright spells and blustery showers in cold conditions, reports BBC Weather.
Tonight, rain moves south across England and Wales with sleet and hill snow; other areas turn windy with clear spells and isolated snow showers.
