Economic policy

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John Healey pledges to use budget to harness power of AI to bolster Britain’s security

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Chancellor says government to commit hundreds of millions to develop ‘distinctively British’ approach to AIJohn Healey has pledged to use Wednesday’s budget to harness the power of artificial intelligence to bolster Britain’s security and prosperity against the risks in the accelerating global technology arms race.As he prepares for his debut budget, the chancellor said that

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Why Britain should reject the lure of cheap – and scary – Chinese AI

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In the west the technology comes with at least some effort to provide security and a benign intent – not so from ChinaThere is much to fear from artificial intelligence developed in China and handed to businesses and governments in the west almost free of charge.Every month Chinese AI developers such as DeepSeek and Xiaomi

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IMF chief urges governments to tighten belts as global debt levels soar

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Kristalina Georgieva says big economies will have to make ‘very touch choices’ as soaring bond yields hit budgetsBusiness live – latest updatesThe head of the International Monetary Fund has called on governments across big economies to tighten their belts as soaring bond yields hit budgets.Speaking in Singapore, the IMF’s managing director, Kristalina Georgieva, said global

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The Guardian view on Trump and Xi: a show of friendship, but no real attempt to address the tensions | Editorial

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The Chinese leader’s visit to Washington appears to have done nothing to shift the stalemate in bilateral relations Within days, two high-profile Chinese visitors will arrive in the US – envoys of friendship, as Xi Jinping described them when he met Donald Trump at the White House this week. The giant pandas, Ping Ping and

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Tax the middle earners! Will the PM do it? – podcast

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Former Bank of England economist Andy Haldane said the markets regarded this government as ‘a pretty traditional tax and spend socialist government with better TikTok videos’. Harsh criticism or truth? As pressure mounts on the chancellor, John Healey, to rule out tax rises, what options do they have left? Plus, what can the government do

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UK economy defies forecasts with surprise 0.4% growth in July

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Welcome boost for chancellor with unexpected rise put down to rapid growth of AI in services sector outweighing Iran war fallout The UK economy grew in July as the rapid growth of AI appeared to outweigh the economic damage from the Iran war, in a welcome boost for the John Healey before next month’s budget.Figures

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Jeff Bezos and UK government invest in £2bn British startup CuspAI

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Company aims to develop AI software that cuts research times and use of rare metals in chipmakers’ supply chainsBusiness live – latest updatesAmazon’s founder, Jeff Bezos, and the UK government have invested in a £2bn British artificial intelligence startup that is aiming to become the “search engine for rare materials” that accelerates the next wave

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Farage trying to block ‘Britcoin’ plans that could be costly for billionaire donor

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Reform UK leader used private meeting at Bank of England to urge governor to drop plans for state-run cryptocurrencyNigel Farage has been trying to block a Bank of England cryptocurrency plan that could be costly for the billionaire bankrolling his party.The Reform UK leader has said Christopher Harborne wants nothing in exchange for the millions

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Starmer says Tory shadow minister should be sacked for criticism of Muslims praying in Trafalgar Square– UK politics live

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Nick Timothy said an event attended by the mayor of London that included prayers was an ‘act of domination’Polanski says the government should be doing more to improve home insulation, and on the drive towards renewable energy.And he says the government should commit to ensuring energy bills do not rise above the April-June price cap.The

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Wednesday briefing: From missing billions to nonexistent datacentres, inside Britain’s AI drive

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In today’s newsletter: Enormous investments in artificial intelligence promised to transform Labour’s growth problems. The reality is much murkierGood morning. For the last few years artificial intelligence has been heralded as the technology that will transform economies. Governments have promised billions in investment, datacentres and supercomputers, and a wave of new jobs as AI is

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