Sunak confidant hints at ‘targeted support’ in cost of living crisis as he warns higher incomes won’t be safe either August 30, 2022 DCMS minister Matt Warman, who is supporting Rishi Sunak in the Tory leadership battle, spoke this morning in favour of targeted support during the rising cost of living, acknowledging “that is going to affect people somewhat higher up the income scale as well”. He told Sky News this a.m.: “I think for me the most [...]
Zahawi: Middle-earners will also need help with energy bills August 27, 2022 Chancellor Nadhim Zahawi has said that middle-earners will also need help with their energy bills. The comments come as Ofgem announced yesterday the energy price cap will rise over 80 per cent to £3,549 per year from October. Zahawi told the Telegraph that support should not be given only to people on benefits but also [...]
Skyrocketing energy bills ‘could be the final nail in the coffin’ for small firms, FSB warns August 26, 2022 Sky-rocketing energy bills “could be the final nail in the coffin” for many firms according to the head of Federation of Small Businesses. Smaller companies “don’t have the luxury to wait until the winter” for help with rising costs, and an “urgent intervention” is needed from the next prime minister. The comments were made by [...]
Zahawi: Energy price cap rise will cause ‘stress and anxiety’ August 26, 2022 Chancellor Nadhim Zahawi has acknowledged today’s 80 per cent price cap rise will cause “stress and anxiety” as campaigners urge the government to take action. In a move that will concern millions of Brits, this morning it was announced by Ofgem the energy price cap will rise to £3,549 per year from October. The rise [...]
Soaring inflation risks creating UK property ‘insurance gap’ August 25, 2022 SOARING inflation in the construction sector threatens to create a major “insurance gap” amongst UK policyholders, London headquartered insurer Chaucer has warned. Sharp increases in the costs of building materials could leave homes and businesses underinsured, as policies fail to cover the cost of repairing and rebuilding damaged properties, research carried out by the Lloyd’s of [...]
Threat of recession drives City law firm hiring spree August 19, 2022 City law firms are seeking to capitalise on the looming recession by bolstering their M&A and financial restructuring teams. Vacancies for City lawyers specialising in banking, leveraged and real estate finance, capital markets, and derivatives surged 38.7 per cent over the first seven months of 2022, figures from legal sector recruitment firm Tenhaven show. The [...]
UK’s cost-of-living crisis could spark ‘Great Reshuffle’ as workers seek out better paid jobs August 17, 2022 Soaring inflation could spark a “Great Reshuffle” in the UK’s job market as workers are increasingly prioritising higher salaries in seeking to manage rising living costs, a survey of 2,000 workers shows. More than half (55 per cent) of UK workers are actively looking for jobs with a view to securing higher salaries due to [...]
Ofgem threatened with legal action if it doesn’t protect vulnerable customers from soaring energy bills August 16, 2022 Energy regulator Ofgem has been threatened with legal action if it fails to protect vulnerable customers from soaring energy bills. The Good Law Project has teamed up with anti-poverty groups urging it to ensure people can cope with bills, expected to reach upwards of £4,000 a year. This comes as the energy price cap is [...]
Cost of living crunch: 1 in 4 shop workers skip meals each month to pay bills August 10, 2022 One in four shop workers are skipping meals each month to meet bill payments, according to research from a trade union. This figure has leapt from 1 in 20 last year, as Britain’s lowest paid workers struggle amid the throes of cost of living crunch, according to a survey by Usdaw union. Inflation is anticipated [...]
Three in four Brits want hybrid work to cope with cost of living crisis August 10, 2022 Three in four British workers want hybrid work to cope with the cost of living crisis gripping the country. Employees want their employers to offer flexible hybrid working as inflation surges to record levels of 9.4 per cent in the country, a survey by hiring software company Greenhouse found today. As the cost of essentials [...]