Cost of greening UK homes to reach £42bn with poorest hardest hit September 30, 2021 The cost of making the UK’s stock of housing greener will run into the billions, with most of the financial burden being shouldered by the poorest households. It will cost around £42.5bn over the next decade to green British homes, according to the economic think tank the Resolution Foundation. Poorer households are the most likely [...]
Londoners most vulnerable to long-term job shocks after furlough ends September 30, 2021 Londoners are the most vulnerable to suffering long term career damage after the furlough scheme ends today. Research by the Institute for Fiscal Studies (IFS) found just over two in five Londoners who were made redundant during the pandemic had found new work within six months, compared to 58 per cent in the UK. Depressed [...]
Reed exclusive: With half of Londoners looking for a new job, the ‘balance of power is shifting’ September 29, 2021 Six in ten Londoners are currently looking for their next challenge, recruitment giant Reed told City A.M. this afternoon. Chancery Lane-based Simon Wingate, managing director of Reed, shared the findings of a new survey that the company recently commissioned. It showed that over half of Londoners (52 per cent) are either actively looking for a [...]
More than half a million Brits over the age of 50 will lose furlough support tomorrow September 29, 2021 As the furlough scheme comes to an end tomorrow, concerns are being raised about the number of workers over the age of 50 who are still furloughed. More than 540,000 people in the age group were on furlough in August, accounting for 35 per cent of the total, according to research. Rest Less, which offers [...]
HGV applicants waiting three months for licence test September 29, 2021 Applicants for HGV licences are waiting three months to do a lorry driving test at nearly two thirds of testing centres in the UK. 62 per cent of HGV test centres currently have a waiting list of at least 11 weeks, indicating the severe shortage of lorry drivers causing the UK economy to grind to [...]
UK housing market still steaming despite looming stamp duty break cut off September 29, 2021 The looming end of a watered down tax break on house purchases has not cooled the UK’s rampant housing market, according to official figures released today. Brits took on £21.5bn in mortgage debt last month, up sharply from July’s figure of £16.6bn, shows Bank of England data. A record low interest rate environment has propped [...]
Ongoing worker shortages loom over UK economy September 29, 2021 Endemic worker shortages putting the UK economy in a vice are set to persist for months to come. Businesses’ demand for workers jumped three percentage points to 25 per cent, according to data from the Recruitment and Employment Confederation (REC). Hiring intentions over the next four to 12 months also strengthened to 30 per cent. [...]
Talent war and transport costs hit shop prices September 29, 2021 A toxic combination of rising transport costs, severe worker shortages and soaring commodity prices is fuelling food price inflation. Food prices rose for the first time on an annual basis in six months in September, up 0.1 per cent, according to research from the British Retail Consortium (BRC). Supermarkets have been raising pay for HGV [...]
Messages from central bankers suggest persistent inflation concerns are rising September 29, 2021 European markets had a poor day yesterday, all of them down over 2 per cent, with the notable exception of the FTSE100 which was helped in no small part by its hefty energy component, and a sinking pound, which helped to keep it above the 7,000 level. “Once again it is fears about surging energy [...]
Brexit: Furious French threaten to retaliate as only 12 fishing licenses for UK waters are granted September 29, 2021 It appears that only 12 fishing licences for small boats to operate in UK waters have been granted, out of 47 applications. The French government is furious, accusing the UK of taking French fishing “hostage” and Macron’s administration warned of “retaliatory action” following the decision. The prospect of a new cross-channel fishing war came after [...]