Energy UK calls on Government to offer loans to businesses facing ultra-high bills August 18, 2022 Energy UK has called for the Government to work with industry and financial institutions, and bring in a deficit tariff scheme.
UK economy: OECD upgrades forecasts but still predicts recession knife-edge June 7, 2023 The UK economy will continue to lag behind other countries in the group of seven (G7) advanced economies this year, despite improved growth projections, new analysis has shown. Only Germany, which fell into a recession over the start of the year and is set to stagnate throughout 2023, will perform worse than the UK. Analysis [...]
Pubs closing down: Crisis for industry as more than one a day shuts doors December 24, 2022 More than 32 pubs disappeared from communities in England and Wales each month in 2022 as rocketing energy bills and staffing pressures forced businesses to shut for the final time. New analysis of official government data by real estate adviser Altus group found the overall number of pubs slid by 386 during the year. The [...]
Energy crisis: Households braced for £500 annual bill hike as falling gas prices miss price cap deadline February 21, 2023 Households face a hefty hike to their energy bills in April, amid warnings the price cap would not fall below the reduced subsidy rate.
Restaurants ‘entering winter in freefall’ as insolvencies leap by almost half November 8, 2022 There has been a tsunami of restaurants entering liquidation in the quarter to September, causing hospitality leaders to renew cries for government support this winter. According to recent numbers from the Insolvency Service, the number of food venues facing insolvency sky-rocketed 46 per cent in the most recent quarter. Some 158 businesses went into liquidation [...]
UK to shake off mild recession by end of this year, City analyst predicts January 16, 2023 The UK economy will experience a very mild recession and could be out of it by the end of this year, a top City economist has forecast. International energy prices have marched back down the steep hill they climbed after Russian president Vladimir Putin sent troops into Ukraine in February last year. On some measures, [...]
29m UK households to get £400 in instalments between October and March to help with energy bills July 29, 2022 As millions worry about the prospect of eye-watering energy bills this winter, the government has revealed how its £400 discount will be implemented. 29m households will receive a non-repayable sum of at least £400 over the course of six months as part of the Energy Bills Support Scheme. The initiative, which will be administered by [...]
OECD: UK predicted to perform worst of all G20 economies… except Russia March 17, 2023 The UK’s economy is expected to perform the worst out of any Group of 20 (G20) economies apart from Russia this year and next, new analysis has suggested. The Organisation for Economic Co-operation and Development (OECD) said that it expects a 0.2 per cent fall in UK gross domestic product (GDP) this year, followed by [...]
Ovo backs Ofgem call for ‘radical’ redesign of energy price cap as Brits brace for winter August 16, 2023 Ovo has supported Ofgem's calls for the set up of the energy price cap to be reconsidered, with household bills to stay high this winter.
Energy firms welcome price cap freeze as Truss leans towards £100bn package September 6, 2022 Energy bosses have welcomed reports that Liz Truss is edging towards a price cap freeze to stave off spikes in the price cap this winter.