The economy

Fact checks about the economy, covering levels of inequality, prices, taxation, employment, unemployment and housing across the UK nations and regions

5 October 2022

The Bank of England hasn’t already spent £65 billion following mini-Budget

Claims that the government had spent £65 billion have been shared extremely widely on social media.

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The Bank of England hasn’t already spent £65 billion following mini-Budget
4 October 2022

Kwasi Kwarteng wrong on ‘record unemployment’ under Labour

The Chancellor was wrong to say that Labour left office with record unemployment. During this period unemployment peaked below the record level, set in 1984.

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Kwasi Kwarteng wrong on ‘record unemployment’ under Labour
30 September 2022

Do Treasury claims about a 'typical' first-time buyer’s savings add up?

We’ve looked into the figures behind a tweet from the Treasury showing how the mini-Budget could benefit a hypothetical first-time buyer.

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Do Treasury claims about a 'typical' first-time buyer’s savings add up?
30 September 2022

Do the mini-Budget tax cuts favour the rich?

Income tax-payers across the income scale will benefit to some extent as a result of the Chancellor’s announcement—but higher earners will benefit much more.

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Do the mini-Budget tax cuts favour the rich?
29 September 2022

Liz Truss wrong to repeatedly say energy bills are capped at £2,500

This figure is based on the amount a “typical” household with average use will pay—but total bills aren’t capped.

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Liz Truss wrong to repeatedly say energy bills are capped at £2,500
26 September 2022

The deficit is lower than it was 12 years ago

Labour shadow chancellor Rachel Reeves said in a speech that the Conservative government had not got the deficit down during 12 years in power. This isn’t true.

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The deficit is lower than it was 12 years ago
26 September 2022

Liz Truss wrong to claim ‘no household’ will pay more than £2,500 on energy bills

During an interview on CNN the Prime Minister claimed ‘nobody’ would have to pay more than £2,500 in energy bills. Per the government’s own figures, this isn’t true.

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Liz Truss wrong to claim ‘no household’ will pay more than £2,500 on energy bills
23 September 2022

Ed Davey left out important context about energy bills

Yes, annual household bills will rise about £500 in October, but people will also receive a £400 discount under the Energy Bills Support Scheme.

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Ed Davey left out important context about energy bills
22 September 2022

Health secretary’s claim on health spending fact checked

Dr Thérèse Coffey said health and social care account for 40% of government day-to-day spending. That’s only true if you don’t count spending on things like pensions.

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Health secretary’s claim on health spending fact checked
16 September 2022

How much will the Queen’s funeral cost?

There is no official estimate for how much the state will pay for the funeral, or its wider economic impact. Royal funerals in the past have cost up to about …

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How much will the Queen’s funeral cost?

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