Tom Rees

Stay informed with Tom Rees’s coverage and analysis for Fortune.

LONDON, ENGLAND – JULY 09: Rachel Reeves, UK chancellor of the exchequer, walks down Downing Street on July 09, 2025 in London, England. (Photo by Dan Kitwood/Getty Images)

U.K. borrows billions more than expected as debt costs surge

By Tom Rees and Bloomberg

Andrew Bailey, governor of the Bank of England (BOE), speaks at the Irish Association of Investment Managers annual dinner in Dublin, Ireland, on Thursday, May 29, 2025. Bailey has urged the government to strike a deeper trade deal with the European Union to improve growth and “minimize negative effects” of Brexit. Photographer: Patrick Bolger/Bloomberg via Getty Images

BOE’s Bailey urges closer EU trade to reverse Brexit damage

By Philip Aldrick, Tom Rees, and others

Bank of England Governor Andrew Bailey attends the central bank’s Monetary Policy Report press conference at the Bank of England, in London, on February 6, 2025. The central bank trimmed borrowing costs by a quarter point to 4.5 percent at a regular policy meeting, with weak growth concerns offsetting concerns about above-target UK inflation. (Photo by Kin Cheung / POOL / AFP) (Photo by KIN CHEUNG/POOL/AFP via Getty Images)

Bank of England votes to hold rates as doves turn cautious

By Tom Rees and Bloomberg

RUISLIP, ENGLAND – MARCH 06: Chancellor Rachel Reeves meets with defence suppliers at RAF Northolt on March 06, 2025 in Ruislip, England. Chancellor Rachel Reeves visited RAF Northolt to meet with UK defence suppliers to Ukraine, following last week’s signing of the UK-Ukraine Bilateral agreement. The agreement will deliver £2.26bn in funding to Ukraine through the Extraordinary Revenue Acceleration (ERA) loan, to help bolster Ukraine’s military capability. The loan comprises the UK’s contribution to the G7 ERA Loans to Ukraine scheme, which will collectively see G7 countries supply $50 billion in support of Ukraine. (Photo by Dan Kitwood/Getty Images)

U.K. economy shrinks in January in fresh setback for Starmer

By Tom Rees, Irina Anghel, and others

UK, London, blurred motion of incidental business people walking to work with view of the financial district behind

U.K. is set to face more frequent recessions, economists warn

By Tom Rees and Bloomberg

Rachel Reeves, UK chancellor of the exchequer, outside 11 Downing Street in London, UK, on Friday, July 5, 2024. New British Prime Minister Keir Starmer promised a government of “stability and moderation” after leading his Labour Party to a landslide election victory that ended 14 years of Conservative rule that became characterized by turmoil and infighting. Photographer: Hollie Adams/Bloomberg via Getty Images

U.K. may need to tax the wealthy or target inheritances to close £20 billion deficit left by previous government

By Tom Rees, Philip Aldrick, and others

People walk across London Bridge from the City of London in the evening sun on the hottest day of the year so far on the 30th of July 2024, London, United Kingdom. Many are office workers heading towards London Bridge Station and home after a long day at work in the City of London. The Met Office announced the same day that it recorded 32°C at Kew Gardens and Heathrow in London, making it the country's so far warmest day of the year. (photo by Kristian Buus/In Pictures via Getty Images)

Surprise dip in U.K. unemployment combined with rising GDP signals strengthening economy—unlike the U.S.

By Tom Rees, Andrew Atkinson, and others

Flags of Great Britain and European Union

EU would ‘be delighted’ to forge closer ties with the U.K.’s next government, according to Economy Commissioner

By Jorge Valero, Craig Stirling, and others

Close up of Bank of England governor Andrew Bailey making a point

U.K. inflation drops to 2.3%, but interest rate cuts aren’t expected until November

By Tom Rees, Philip Aldrick, and others

Britain's Prime Minister Rishi Sunak

U.K. bounces back from recession with fastest growth in nearly three years

By Tom Rees, Philip Aldrick, and others

River Kennet flowing past apartment housing in town center, view east from London Street Reading, Berkshire, England, UK.

Homes in England are more cramped than ones in New York City and offer the worst value for money in the developed world

By Tom Rees and Bloomberg

A customer, center, tastes a sample of wine in the wine and spirits section of the newly refurbished Marks & Spencer Group Plc Food shop in London, U.K,

Food prices cool in the U.K. as inflation slips 3.4% in February, way below expectations

By Tom Rees and Bloomberg

Olivier Blanchard

Top economist ‘very worried’ about America’s $34 trillion national debts: ‘There’s absolutely no attempt to decrease them in any way, shape or form’

By Tom Rees and Bloomberg

LONDON, ENGLAND – JULY 13: British Prime Minister Rishi Sunak speaks at a press conference at 9 Downing Street on July 13, 2023 in London, England. There have been walk-outs across the economy from train drivers to lawyers over the past year as the UK battles a crippling cost-of-living crisis. (Photo by Henry Nicholls – WPA Pool/Getty Images)

The amount Britain owes exceeds its GDP for the first time since 1961—and credit-rating agencies are watching

By Tom Rees, Alice Gledhill, and others

Lit porches of a terraced period houses and in the distance, the growing development at Nine Elms at Battersea, seen from Ruskin Park, a south London green space in Lambeth

U.K. inflation eases more than expected, offering hope of curbing wage-price spiral

By Tom Rees and Bloomberg