UK Economy Sizzles Under Heatwave Hammer

The UK economy has taken a significant hit from back-to-back summer heatwaves, with losses estimated at £4.4 billion so far this year.

A report by think tank Verdant found that the biggest impact came in June, when temperatures reached a record daily high of 38C on the 26th, resulting in £2.36 billion in economic losses.

The report also warned that further losses are likely as scorching temperatures become the new normal, with researchers predicting that the UK could lose a total of £25.6 billion from summer heatwaves by 2030 if temperatures continue to intensify at the same rate seen over the past decade.

The estimated losses have been highest in several London boroughs, including the City of London (£435m), Westminster (£371m), and Camden (£181m).