Economy, Business & Finance

We check facts about the UK economy. This includes money issues like prices, taxes, jobs, people out of work, and housing. We also look at how these things are different in each part of the UK.

17 June 2025

Did living standards reach an 'all-time low' under the Conservatives?

Last month the Prime Minister claimed living standards were “at an all-time low” under the previous government—but none of the usual measures of living standards back this up.

Sir Keir Starmer standing at the despatch box during Prime Minister's Questions

10 June 2025

Spending Review 2025: fact checked

We’ve taken a look at key claims from the Labour government’s first Spending Review.

Chancellor Rachel Reeves in the House of Commons during the 2025 Spending Review

30 May 2025

School standards minister confuses interest rates and inflation in Sky News interview

Catherine McKinnell MP claimed “we’ve seen inflation coming down”, but her department has since told us she meant to refer to interest rates.

School standards minister Catherine McKinnell MP, Member of Parliament for Newcastle-upon-Tyne North

23 May 2025

No requirement to notify your own cash withdrawals to HMRC, contrary to online claims

A video shared more than 1,500 times claims you now have to notify HMRC to withdraw cash from your account, but this is not true.

16 May 2025

Spanish tax agency does not require advance notice of cash withdrawals

The country’s Ministry of Finance confirmed it does not request advance notice of withdrawals.

14 May 2025

How have unemployment and jobs figures changed under Labour?

Seemingly contrasting claims about unemployment and jobs figures were made by the Conservatives and Labour at this week’s Prime Minister’s Questions.

The House of Commons during Prime Minister's Questions

7 May 2025

What deal has the government struck over Indian workers and National Insurance?

With opposition parties warning of “two-tier taxes” and the PM describing criticism as “incoherent nonsense”, we look at what we know about what’s been announced.

Business secretary Jonathan Reynolds hosted an India business roundtable last month

1 April 2025

Sadiq Khan has not proposed to build 40,000 new council homes ‘specifically prioritised for Muslims’

The claim has been shared widely on social media platforms, but it is not accurate.

31 March 2025

BBC podcast corrects claim that tax fraud is ‘30 times larger’ than benefit fraud

The BBC has removed an inaccurate claim made on its Strong Message Here podcast after Full Fact got in touch.

27 March 2025

Did Labour promise to freeze council tax?

We’ve taken a look at what Labour said it would do, after Conservative claims that council tax rises this year amount to a “betrayal”.

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Economy, Business & Finance

Did living standards reach an 'all-time low' under the Conservatives?

Spending Review 2025: fact checked

School standards minister confuses interest rates and inflation in Sky News interview

No requirement to notify your own cash withdrawals to HMRC, contrary to online claims

Spanish tax agency does not require advance notice of cash withdrawals

How have unemployment and jobs figures changed under Labour?

What deal has the government struck over Indian workers and National Insurance?

Sadiq Khan has not proposed to build 40,000 new council homes ‘specifically prioritised for Muslims’

BBC podcast corrects claim that tax fraud is ‘30 times larger’ than benefit fraud

Did Labour promise to freeze council tax?

Full Fact fights bad information