Labour’s plan to force banks to help on mortgages branded ‘risky’ and ‘counterproductive’ June 22, 2023 Labour’s plans to force banks to help struggling borrowers with their mortgages have been slammed as “risky” and “counterproductive”. The party says lenders should be compelled to help mortgage holders struggling with payments in a bid to avert a looming mortgage crisis as interest rates are expected to keep rising to bring inflation down. Shadow [...]
Covid-19 inquiry: Flu-based pandemic prep meant herd immunity was seen as ‘inevitable’, says Hunt June 21, 2023 Chancellor Jeremy Hunt has said the focus on any future pandemic being flu-based meant there was a “shared assumption herd immunity was inevitably” going to be the strategy used to contain a new virus. He admitted being part of “groupthink” when he was health secretary, leading to a “narrowness of thinking” that failed to expand [...]
Rishi Sunak: City of London will be ‘engine room’ of UK investment in rebuilding Ukraine June 21, 2023 Ukraine is set to receive £3bn in World Bank loan guarantees as Prime Minister Rishi Sunak confirmed the UK would continue to support the nation for “as long as it takes” in the fight against Russia. Sunak will also announce a major financial support package for the eastern European country as it mounts its long-awaited [...]
Hunt to discuss support with mortgage lenders as repayments crisis looms June 20, 2023 Chancellor Jeremy Hunt is set to meet with mortgage lenders to discuss support for homeowners as a repayments crisis looms. Various calls have been made for the government to step in to help struggling borrowers – but Hunt said ministers would not provide financial support which would fuel inflation. Average costs for a two-year fixed-rate [...]
Frasers snaps up stakes in Boohoo and Currys June 20, 2023 The company behind Sports Direct has said that it hopes a new stake in Boohoo can lead to collaborations between the fashion brand and Missguided. Frasers Group said that its new holding in its fellow listed company would allow it to find synergies and make its own brands stronger. The business, majority owned by Mike [...]
Mel Stride urges Johnson and cabinet to ‘row together’ and end hostilities after vote June 20, 2023 Work and Pensions Secretary Mel Stride expressed hope that Boris Johnson and the Cabinet can now “row together” and end the hostilities. Mr Stride told Times Radio he backed the Privileges Committee’s findings that the former prime minister lied to MPs but said he felt “quite uneasy” with the 90-day suspension recommended so decided to [...]
Sadiq Khan to address ‘cost of doing business’ crisis at summit with Uber and Natwest June 20, 2023 Sadiq Khan is set to address the “cost of doing business crisis” at a crunch summit with firms including Uber, Natwest and KPMG. The mayor of London will welcome more than 200 CEOs to his annual City Hall business reception at the Crystal in east London today. He is expected to tell firms the “cost-of-doing-business [...]
MPs vote to sanction Boris Johnson after ‘damning’ privileges committee report June 19, 2023 Boris Johnson will no longer have a pass to Parliament after MPs voted to back sanctions against him in the apparent final chapter of his parliamentary career. Watched over by Sir Ian McKellen, MPs debated the privileges committee report which ruled the former prime minister had “deliberately misled” and committed “serious contempt”. It followed an [...]
‘Mistake’ to focus on flu in pandemic preparedness, David Cameron admits June 19, 2023 David Cameron has admitted it was a “mistake” for his government to focus too heavily on preparing for an influenza wave rather than a potential coronavirus pandemic. The former Conservative prime minister told the official Covid-19 inquiry, which is currently examining the UK’s readiness to respond to a disease outbreak, the decision led to “many [...]
Labour would end onshore wind ban – but wouldn’t overturn Rosebank if Tories approved it June 19, 2023 Labour would not look to withdraw approval for the UK's largest prospective oil and gas field, known as Rosebank.