Tim Wallace

London

Deputy Economics Editor at The Telegraph

Deputy economics editor at the Telegraph. Prize-winning economic forecaster!

Articles

Mental health sick days soar by 5m in just a year

2 days ago | telegraph.co.uk | Tim Wallace

In total, workers took 149m sick days in 2024, which is down 10pc on the previous year. The number of days taken for minor illnesses dropped by a third to 33m, while workers took 26.5m days for musculoskeletal problems, roughly the same as 2023. The overall sickness rate, which charts absences as a share of all working hours, fell to 2pc. As a result the proportion of sick days is back to its pre-pandemic level.
'Millionaire' pensioners will not get winter fuel payments

2 days ago | telegraph.co.uk | Tim Wallace

More than a fifth of all households aged over 65 have assets worth £1m or more, according to the Office for National Statistics, including their homes, pensions and other wealth. Mr Bell's comments indicate that, if millionaire status is the qualifying criteria, more than 2.5m pensioner households stand to miss out on the restoration of winter fuel payments as a result.
Reeves urged to increase taxes as Britain's growth downgraded

3 days ago | telegraph.co.uk | Tim Wallace

"Momentum is weakening, with business sentiment rapidly deteriorating," the OECD said. "Consumer confidence remains depressed and has declined since the second half of 2024, while retail sales volumes have been volatile, with an uptick in March."Borrowing costs on the £2.8 trillion national debt have risen, the jobs market is slowing down and Ms Reeves's own policies, including the £25bn raid on employers' National Insurance contributions, have made the situation worse.
British factories suffer worst slump in Europe as energy costs bite

4 days ago | telegraph.co.uk | Tim Wallace

Fhaheen Khan, at Make UK said: "Unfortunately, when tomorrow is a constant unknown, it becomes nigh on impossible to secure opportunities, which is leading to persistent declines in the sector.
Lagarde's master plan to vanquish the dollar

4 days ago | telegraph.co.uk | Tim Wallace

A shift in mindset is also required. America's status was also built on its willingness to act as the world's policeman, not just a capability to defend its own borders, says Bilal Hafeez, chief executive at MacroHive. "Defence helped the dollar become a reserve currency. The US provided military support for foreign countries - they underwrote Japan's defence, and as a result the Japanese bought Treasuries and got into the dollar system," he says.
Starmer under pressure to save factories crushed by energy prices

4 days ago | telegraph.co.uk | Matt Oliver |Tim Wallace

A single levy, the renewables obligation, accounts for £2bn of the £3.8bn in levies paid per year by manufacturers alone. The legacy scheme was set up to support early wind and solar farms with 20-year subsidy deals, topping up the electricity price they are paid.
Britons risk being forced to take part in 'jobs census'

6 days ago | telegraph.co.uk | Tim Wallace

Professor Lievesley said in an interview with Bloomberg that compelling Britons to respond was "a last resort option", but that "we may have got to that stage". She added: "It's not that we actually use the mandation to impact on individuals but I think in the case of the LFS it would help the survey interviewers and I think it helps the enumerators in the census. "It raises the profile that this is important. If they're asked, 'do we have to do this?' Well, I'm sorry, but I'm afraid you do.
Trump plots tax raid on foreign companies in threat to Britain

1 week ago | msn.com | Tim Wallace

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Trump plots tax raid on foreign companies in threat to Britain

1 week ago | msn.com | Tim Wallace

Microsoft Cares About Your PrivacyMicrosoft and our third-party vendors use cookies to store and access information such as unique IDs to deliver, maintain and improve our services and ads. If you agree, MSN and Microsoft Bing will personalise the content and ads that you see. You can select ‘I Accept’ to consent to these uses or click on ‘Manage preferences’ to review your options and exercise your right to object to Legitimate Interest where used.
Trump plots tax raid on foreign companies in threat to Britain

1 week ago | yahoo.com | Tim Wallace

Donald Trump is seeking new powers to hit foreign businesses with taxes if they take money out of America, in a crackdown that could hit Britain. Proposals contained within Mr Trump’s “big, beautiful” tax and spending bill would hand the president the ability to impose levies on individuals and companies from countries deemed to have “discriminatory” tax policies. It has raised fears that Mr Trump could use the powers on Britain.