Today: City hold its breath as Rishi Sunak is expected to confirm windfall tax on soaring energy profits May 26, 2022 Energy giants across the UK and investors in the City are awaiting what will come out of Westminster today as Chancellor Rishi Sunak is expected to cave in to pressure to impose a windfall tax on the soaring profits of oil and gas firms. Treasury sources did not deny reports he would use his announcement [...]
Today: Rishi Sunak to roll out news measures to help struggling Brits to fight cost of living crisis May 26, 2022 It’s been speculated that UK Chancellor of the Exchequer Rishi Sunak will today announce some emergency measures to help the most vulnerable UK households to help alleviate the strain on their finances because of the surge in energy prices. The package, which it is said is expected to be in the region of £10bn, “is [...]
Public sector borrowing hit £18.6bn last month, fourth-highest April since 1993 May 24, 2022 Government borrowing stood at £18.6bn last month, down by £5.6bn from a year ago, but still the fourth highest April borrowing since records began in 1993, according to official figures. The Office for National Statistics (ONS) said this morning that, despite the fall, government borrowing was £7.9bn more than in April 2019 before the pandemic [...]
Sunak poised to give poorest households £5-7.5bn to deal with cost-of-living crunch, Deutsche Bank says May 22, 2022 Deutsche Bank has said it expects the UK’s Chancellor of the Exchequer Rishi Sunak will give £5-7.5bn in support to the UK’s poorest households to help them deal with the UK’s cost-of-living crisis. The chancellor could increase universal credit payments, give money to food banks, and help poor households pay for energy bills, in a [...]
Liz Truss plays down calls for windfall tax May 18, 2022 Foreign secretary Liz Truss has played down calls for a windfall tax on energy firms, saying “we need to attract investment”, and a tax would be a deterrent. Speaking on Sky News this morning, she appeared to be at odds with calls made by the Chancellor Rishi Sunak yesterday, who said nothing was off the [...]
Anger after partygate champagne donated by Tory chair and signed by PM is auctioned for charity May 13, 2022 The Conservative Party chair has come in for criticism after donating a bottle of ‘partygate’ champagne signed by prime minister Boris Johnson to a charity auction. . TV food critic and journalist Jay Rayner flagged it up on Twitter, sharing an image of the item and saying the party didn’t take partygate claims “seriously”. This [...]
Cabinet not united: Minister Kit Malthouse breaks ranks and calls on Chancellor Rishi Sunak to cut taxes May 9, 2022 The government’s Minister of State for Crime and Policing Kit Malthouse has called on the chancellor, Rishi Sunak, to cut taxes as soon as possible. The Chancellor should roll out plans to reduce taxes to tackle the cost of living crisis, Malthouse said during an interview on TalkTV. “The Chancellor has already signalled his desire [...]
RIshi Sunak’s father-in-law’s company Infosys is still active in Russia May 5, 2022 The Indian IT giant Infosys, which chancellor Rishi Sunak’s wife has a £400m stake in, is still reportedly operating in Russia. The company committed to “urgently closing down its operations” in the country last month, but the Mirror reported this week it was still working in Moscow. When approached for comment, Sunak’s wife Akshata Murty [...]
It would be ‘silly’ to provide households with more support before price cap update, says Rishi Sunak April 28, 2022 Chancellor Rishi Sunak plays down the prospect of immediate support for households despite mounting pressure on consumers.
Boris Johnson asked if Rishi Sunak will keep his job: ‘The answer to that is yes’ April 22, 2022 Boris Johnson has given an assurance that Chancellor Rishi Sunak will be in post for the Autumn budget, but declined to say Priti Patel would remain in her role. The embattled incumbent of Number 10 was asked, during his visit to India, whether Sunak would stay in his job in wake of partygate, responding “the [...]