Andy Burnham entered Downing Street promising a cost-of-living government and a firmer voice with Trump, but inherited £111.2bn in annual debt interest and a £4.7bn defence hole. Iran then threatened RAF Fairford, mortgage rates reached 5.59% and 5.61%, and oil left the Bank of England weighing renewed rate rises.
MPC Bank Rate decision and minutes at noon, published alongside the quarterly Monetary Policy Report with updated growth and inflation forecasts.
Consumer Prices Index for July 2026, published at 7am.
Commons resumes sitting on 1 September after the summer recess, ahead of a short September run before the party-conference adjournment.
Consumer Prices Index for August 2026, published at 7am the day before the September MPC decision.
MPC Bank Rate announcement and minutes at noon. No Monetary Policy Report this round.
Parliament adjourns for the party-conference recess at the end of business on 17 September, returning on 12 October.
Commons resumes sitting on 12 October after the conference recess, opening the autumn session that typically culminates in the Budget.
Consumer Prices Index for September 2026, published at 7am. September CPI is the reference figure used for benefits and many index-linked uprating decisions.
MPC Bank Rate decision and minutes at noon, with the quarterly Monetary Policy Report and refreshed forecasts.
Consumer Prices Index for October 2026, published at 7am, typically the last inflation print before the Autumn Budget.
Chancellor Rachel Reeves' Autumn Budget, with the OBR publishing updated economic and fiscal forecasts. Date is provisional - based on the late-November pattern (the 2025 Budget fell on 26 November); not yet officially confirmed.
G20 leaders' summit, 14-15 December at Doral, Florida. UK Prime Minister attends; global economy, debt and geopolitical tensions on the agenda.
Consumer Prices Index for November 2026, published at 7am the day before the December MPC decision.
Parliament adjourns for the Christmas recess at the end of business on 17 December, returning on 5 January 2027.
Final MPC Bank Rate announcement of 2026, minutes at noon. No Monetary Policy Report this round.
Commons resumes sitting on 5 January 2027 after the Christmas recess.
Consumer Prices Index for December 2026, published at 7am - the full-year inflation read for 2026.
First MPC decision of 2027; Bank Rate announcement and minutes at noon with the quarterly Monetary Policy Report.
Parliament adjourns for the February half-term recess at the end of business on 11 February 2027, returning on 22 February.
Consumer Prices Index for January 2027, published at 7am. Date is provisional - follows the standard mid-month cadence; not yet on the official ONS release calendar.
Commons resumes sitting on 22 February 2027 after the February recess.
MPC Bank Rate announcement and minutes at noon. No Monetary Policy Report this round.
Local elections on Thursday 6 May 2027 across roughly 195 English councils plus all Scottish and Welsh councils - the next nationwide electoral test after the May 2026 polls.
In his first major interview as prime minister, Andy Burnham stated he would be prepared to publicly disagree with US President Donald Trump if necessary to defend Britain's national interest. Defence Secretary Wes Streeting also confirmed the UK will not support US offensive operations in Iran, reiterating continued differences with the US over Iran. Burnham ruled out an early general election before 2029 and declined to commit to a 3% of GDP defence spending target by 2030, despite demands from his own chancellor. The comments signal potential early tensions between the new UK government and the Trump administration.
In his first major interview as prime minister, Andy Burnham stated he would be prepared to publicly disagree with US President Donald Trump if necessary to defend Britain's national interest. Defence Secretary Wes Streeting also confirmed the UK will not support US offensive operations in Iran, reiterating continued differences with the US over Iran. Burnham ruled out an early general election before 2029 and declined to commit to a 3% of GDP defence spending target by 2030, despite demands from his own chancellor. The comments signal potential early tensions between the new UK government and the Trump administration.
The Bank of England had previously held its benchmark interest rate at 3.75% amid economic uncertainty from US-Israeli strikes on Iran. Now, City economists warn that if oil prices remain above $90-$100 per barrel due to the ongoing Middle East conflict, the Bank may be forced to raise rates later this year to curb rising inflation. Analysts from Deutsche Bank, Nomura, and Capital Economics project multiple quarter-point hikes if the energy shock persists, while some expect the Bank to hold steady for now. The potential rate increases reflect broader concerns about second-round effects on inflation from higher fuel and food costs.
The Bank of England had previously held its benchmark interest rate at 3.75% amid economic uncertainty from US-Israeli strikes on Iran. Now, City economists warn that if oil prices remain above $90-$100 per barrel due to the ongoing Middle East conflict, the Bank may be forced to raise rates later this year to curb rising inflation. Analysts from Deutsche Bank, Nomura, and Capital Economics project multiple quarter-point hikes if the energy shock persists, while some expect the Bank to hold steady for now. The potential rate increases reflect broader concerns about second-round effects on inflation from higher fuel and food costs.
Heating oil prices in Northern Ireland had previously surged 92% in March, a record monthly spike. In mid-July, prices rose again: the average cost of 500 litres jumped £98.78 (29%) in three weeks to £445.37, driven by escalating US-Iran conflict disrupting oil supply and shipping routes. Brent crude rose over 6% on July 15 following US military strikes against Iran and Houthi attacks on oil tankers in the Red Sea. Consumer Council for Northern Ireland head of energy policy Raymond Gormley stated prices will remain high until US-Iran peace negotiations resume. About two-thirds of Northern Ireland households rely on heating oil, raising affordability concerns ahead of winter.
Heating oil prices in Northern Ireland had previously surged 92% in March, a record monthly spike. In mid-July, prices rose again: the average cost of 500 litres jumped £98.78 (29%) in three weeks to £445.37, driven by escalating US-Iran conflict disrupting oil supply and shipping routes. Brent crude rose over 6% on July 15 following US military strikes against Iran and Houthi attacks on oil tankers in the Red Sea. Consumer Council for Northern Ireland head of energy policy Raymond Gormley stated prices will remain high until US-Iran peace negotiations resume. About two-thirds of Northern Ireland households rely on heating oil, raising affordability concerns ahead of winter.
UK Defence Secretary Wes Streeting has stated that Iran's 'sabre-rattling' threats should not intimidate the UK, emphasizing Britain's readiness to respond to any attacks while reiterating the UK's refusal to join offensive US military action against Iran. He also dismissed a Russian warship's live-firing exercise in the English Channel as 'performative' and 'irresponsible', highlighting ongoing Russian threats to UK security. The UK remains aligned with the US on securing maritime freedom in the Strait of Hormuz and is prepared to lead a naval mine-clearing mission there.
UK Defence Secretary Wes Streeting has stated that Iran's 'sabre-rattling' threats should not intimidate the UK, emphasizing Britain's readiness to respond to any attacks while reiterating the UK's refusal to join offensive US military action against Iran. He also dismissed a Russian warship's live-firing exercise in the English Channel as 'performative' and 'irresponsible', highlighting ongoing Russian threats to UK security. The UK remains aligned with the US on securing maritime freedom in the Strait of Hormuz and is prepared to lead a naval mine-clearing mission there.
Families of 29 military personnel killed in the 1994 RAF Chinook crash on the Mull of Kintyre are calling on Prime Minister Andy Burnham to order a fresh independent review, citing concerns of a cover-up by the Ministry of Defence. Former Defence Secretary Liam Fox supports the call, noting 'deep concerns' that vital information may have been withheld. The families, organized as the Chinook Justice Campaign, seek application of the new Hillsborough law to ensure transparency.
Families of 29 military personnel killed in the 1994 RAF Chinook crash on the Mull of Kintyre are calling on Prime Minister Andy Burnham to order a fresh independent review, citing concerns of a cover-up by the Ministry of Defence. Former Defence Secretary Liam Fox supports the call, noting 'deep concerns' that vital information may have been withheld. The families, organized as the Chinook Justice Campaign, seek application of the new Hillsborough law to ensure transparency.
The Scottish Government had previously requested UK military aerial support for the Cairngorms wildfire. Today, the UK Government responded by formally offering Chinook helicopters and standby battalion personnel to assist the Scottish Fire and Rescue Service under Military Aid to the Civil Authorities. The support includes heavy-lift capacity for water drops and enhanced liaison support. Defence Secretary Wes Streeting confirmed the readiness of the armed forces to deploy. The fire, which began on 15 July, continues to threaten properties and woodland, with evacuations in Nethy Bridge.
The Scottish Government had previously requested UK military aerial support for the Cairngorms wildfire. Today, the UK Government responded by formally offering Chinook helicopters and standby battalion personnel to assist the Scottish Fire and Rescue Service under Military Aid to the Civil Authorities. The support includes heavy-lift capacity for water drops and enhanced liaison support. Defence Secretary Wes Streeting confirmed the readiness of the armed forces to deploy. The fire, which began on 15 July, continues to threaten properties and woodland, with evacuations in Nethy Bridge.
British bankers are concerned that the new UK government under Prime Minister Andy Burnham and Chancellor John Healey may increase the bank surcharge tax to fill budget gaps. Industry executives worry about a potential windfall tax on bank profits, which could raise billions but hurt London's competitiveness as a financial center. The Treasury has signaled awareness of the sector's importance, but fiscal pressures and public resentment toward banks create political incentives for a tax hike.
British bankers are concerned that the new UK government under Prime Minister Andy Burnham and Chancellor John Healey may increase the bank surcharge tax to fill budget gaps. Industry executives worry about a potential windfall tax on bank profits, which could raise billions but hurt London's competitiveness as a financial center. The Treasury has signaled awareness of the sector's importance, but fiscal pressures and public resentment toward banks create political incentives for a tax hike.
UK Prime Minister Andy Burnham will host Ukrainian President Volodymyr Zelenskyy at a UK naval base where Ukrainian forces are training, marking Burnham's first overseas visitor. They will discuss joint projects including the Stone Cloak electronic jammer, for which the UK has shared intellectual property to enable Ukrainian mass production. The visit underscores continued UK support for Ukraine amid Russia's invasion, with total UK aid reaching £25 billion.
UK Prime Minister Andy Burnham will host Ukrainian President Volodymyr Zelenskyy at a UK naval base where Ukrainian forces are training, marking Burnham's first overseas visitor. They will discuss joint projects including the Stone Cloak electronic jammer, for which the UK has shared intellectual property to enable Ukrainian mass production. The visit underscores continued UK support for Ukraine amid Russia's invasion, with total UK aid reaching £25 billion.