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Britain is the Dorian Gray economy, hiding its ugly truths from the world. Now they are exposed

Our rulers painted false pictures of success while real wealth and wages withered away, says the Guardian columnist Aditya Chakrabortty

‘Shock and awe’ interest rate rise leaves Sunak’s cost of living pledge in tatters

Bank raises base rate to 5% and is predicted to go to 6% as pressure grows on government to intervene

Rishi Sunak says he is ‘totally, 100% on it’ in battle against inflation – as it happened

Prime minister says he knows people will be anxious about rate rise but ‘it is going to be OK’

Labour would not back subsidising mortgage holders, Starmer says

Leader says there is no quick fix and there are problems with approach advocated by Lib Dems

Labour piles pressure on Sunak with plan to prevent ‘mortgage catastrophe’

Shadow chancellor Rachel Reeves says party would force banks to take a range of steps to protect borrowers

Jeremy Hunt tells Covid inquiry quarantining people sooner ‘might have avoided’ first lockdown – as it happened

Former health secretary says understanding important of early quarantining could have helped prevent disease spreading

There’s only one way to tackle Britain’s mortgage meltdown – get the banks to cough up

The big five owe the public for the 2008 bailout – and they are taking in enormous profits while many homeowners and renters struggle, says former chancellor John McDonnell

Wednesday briefing: How to solve the UK’s mortgage mess, as interest rates rise again

In today’s newsletter: Rising inflation and interest rates mean real pain for homeowners – with few signs of relief on the way

Britain remains ‘wildly under-resilient’, Covid inquiry hears

Oliver Letwin, who led emergency planning during coalition, says churn of ministers and officials is ‘disaster for country’

UK economy in growth ‘doom loop’ after decades of underinvestment

Institute for Public Policy Research points to £500bn-plus underspend compared with other advanced economies

Mortgage ‘catastrophe’ will lose us the election, warn Tory MPs

Members in marginal seats fear Conservative party leaders have not understood the impact of rate rises

UK homeowners face huge rise in payments when fixed-rate mortgages expire

More than 2.4m deals are ending in 2024, raising fears of financial timebomb

Sunak should never have made his woolly inflation pledge

The prime minister has set a target that was not in his power to deliver, and he ignored political convention to do so

UK has no choice but to raise interest rates to curb inflation, says Jeremy Hunt

Chancellor gives unstinting support to Bank of England as households brace for borrowing costs to rise again

UK exports in last decade worse than any G7 country except Japan

UN figures show value of British goods and services exports rose by 6% between 2012 and 2021, compared with 29.1% for EU

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  • Yes, retail investment needs a boost – but ‘Savvy Squirrel’ looks too tame
  • City firms bank on ‘savvy’ advertising campaign to push Brits towards investing
  • Capital gains tax changes are on the table, and yet Armageddon has not arrived. Has the tide on housing turned at last?
  • White House close to deal of up to $500m to rescue ailing Spirit Airlines
  • What is Mythos AI and why could it be a threat to global cybersecurity?
  • Middle East war ‘could wipe out 75% of chancellor’s budget headroom’; UK inflation climbs to 3.3% – as it happened
  • Taxes on UK workers have risen at fastest rate in rich world, says OECD
  • Ryanair to close check-in 20 minutes earlier amid concern over Europe border queues
  • Tui cuts profit forecast as effects of Iran war cost travel group €40m
  • ‘Get back to work’: Amazon faces fresh scrutiny over workplace safety record
  • UK inflation rises to 3.3% amid biggest jump in fuel prices in more than three years
  • UK firms to face tougher checks on export licences to bolster sanctions on Russia
  • Why Trump’s pick for Fed chair will not bring home the bank for the president
  • Anthropic investigates report of rogue access to hack-enabling Mythos AI
  • AI hallucinations found in high-profile Wall Street law firm filing
  • Calls for change to rules after stretch of Thames fails to gain bathing water status
  • Coles adds 20c to the price of milk as war in the Middle East pushes up Australian grocery costs
  • City watchdog faces legal action over £9.1bn compensation scheme for car loan victims
  • Woolworths’ ‘Prices Dropped’ rules intended to prevent ‘gaming’ the promotional system, executive tells court
  • UK could face ‘hacktivist attacks at scale’, says head of security agency
  • Democrats celebrate as Virginia voters approve new congressional maps that could flip House seats in their favor – as it happened
  • Takeaway coffee sales plunge as fuel and living costs dent Australian spending. Is the economy next?
  • Trump’s Fed chair pick says he’ll maintain independence – but won’t say president lost 2020 election
  • The Guardian view on the true cost of the Iran war: bombs kill – but so does the economic fallout
  • Four key takeaways from Apple’s change of leadership
  • Miliband’s ‘break the link’ plan is not a magic formula for lowering energy bills
  • Airlines demand UK relax noise rules and cut flight tax as fuel shortage looms
  • Shake-up will help UK motorists without driveways to charge EVs
  • Why are UK electricity prices linked to gas – and what does it mean for bills?
  • Carney names broad team to advise on tense US-Canada trade talks

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