UK consumer confidence falls into negative territory for first time since 2020 September 15, 2022 Confidence among UK consumers has fallen into negative territory for the first time since June 2020, according to a survey. The Consumer Confidence Index from YouGov and the Centre for Economics and Business Research (Cebr) fell by 4.2 points in August from 103.0 to 98.8, the largest decline since the early stages of the pandemic. [...]
Economists warn UK to face blackouts under Liz Truss energy plan September 8, 2022 Economists today warned prime minister Liz Truss’s decision to freeze energy bills for everyone in the UK at £2,500 raises the risk of blackouts. Experts at the economic think tank the Institute for Fiscal Studies (IFS) said energy supplies may run dry due to the government propping up energy spending. “Households, businesses or governments… will [...]
Almost half of Brits stop saving and paying into pension due to short-term money problems September 7, 2022 Almost half of Brits have stopped saving, investing and paying into pensions because of short-term financial pressures. With soaring inflation, rising interest rates and an impending increase in energy bills, 46 per cent of those polled by NerdWallet say they’ve cut back on long-term money planning. Among those who are cutting back, 43 per cent [...]
The price cap freeze: It’s not good, but it’s not the worst September 7, 2022 With the Liz Truss facing a host of bad options, a transparent freeze on the energy price cap might be the least bad of the lot.
WATCH: Martin Lewis left exasperated after ex-minister suggests putting foil on radiator to save cash September 5, 2022 Martin Lewis was left exasperated, after former minister Edwina Currie proposed putting foil behind the radiator to save cash this winter. The founder of MoneySavingExpert responded to the former Tory minister’s money-saving tips during the cost of living crisis, after she said it “doesn’t help” for him to label the issue a “catastrophe”. Hosting ITV’s [...]
Londoners defaulting on debt faster than rest of UK as borrowing used to meet rising costs September 5, 2022 Londoners are defaulting on their debts faster than the rest of the country, as Brits are forced to borrow more at higher rates to keep up with soaring inflation. Figures released by the Urban Institute in its Financial Vulnerability Index showed households increased borrowing in spite of interest rates going up, in a bid to [...]
Staggering 9 in 10 Brits now struggle to make ends meet with retirement poverty fears growing for millions September 4, 2022 Nine in ten people across the UK are now struggling to make ends meet, with only one in ten saying they don’t have any financial concerns, according to fresh data shared with City A.M. this morning. The shock figures raise fears around people’s financial future as well as their present as the rising cost of [...]
Zahawi: Nobody should have energy cut off this winter if they can’t pay their bills September 1, 2022 Nadhim Zahawi has said nobody should be cut off in the winter if they’re unable to pay their bills. Speaking on Sky News this morning during his tour to the United States, the chancellor accused Russia’s President Vladimir Putin of using energy “as a weapon”. This comes ahead of the conclusion of the Conservative leadership [...]
Sainsbury’s to save 17m food items from waste by removing best before dates August 30, 2022 Sainsbury’s plans to save 17 million food items a year from waste by removing ‘best before’ dates. The supermarket giant will take off the date from 276 of its own brand items and more than 100 fresh produce products, such as onions, tomatoes and fruits. More than 130 items will follow, including potatoes, with [...]
Truss refuses to reveal cost of living plans until she has the keys to No 10 August 30, 2022 Members of Liz Truss’s team have confirmed the Tory leadership frontrunner will not finalise her plans for crucial cost-of-living support before receiving the “full support and advice” only available to the government of the day. The public will likely be forced to wait to find out what help they will get with skyrocketing energy bills [...]