IFS warns new GDP and tax receipt forecasts will be revised downward March 20, 2022 The UK’s budgetary watchdog is expected to next week downgrade its forecasts for future GDP growth and government tax revenues, according to the head of the influential Institute for Fiscal Studies (IFS) think tank. IFS director Paul Johnson said today that Rishi Sunak’s spending plans from the October budget will now be “worth an awful [...]
British Chambers of Commerce urges Sunak to help businesses facing rising costs March 20, 2022 The British Chambers of Commerce has called on Rishi Sunak to help businesses facing rising energy costs as it warns of a “cost of doing business” crisis. BCC director general Shevaun Haviland today urged the chancellor to scrap the planned rise in National Insurance Contributions for employees and employers next month and to implement an [...]
Sunak says ‘of course’ he will provide more help for families facing rising energy bills March 20, 2022 Rishi Sunak has said that “of course” he will help households dealing with further increases in energy bills as a result of the Russo-Ukrainian war. The chancellor said that he will “stand by” people facing the cost of living squeeze in “the same way I have done in the last couple of years”. Sunak will [...]
US says 7,000 Russians killed in war as Zelensky lashes out at Germany March 17, 2022 The US believes more than 7,000 Russian troops have been killed during their invasion of Ukraine as Volodymyr Zelensky today lashed out at Germany for not giving his country enough support. US officials told the New York Times its latest estimate today, which would be more than the amount of American troops killed in the [...]
Trevelyan says UK wants trade deal with Saudi Arabia, despite human rights record March 17, 2022 International trade secretary Anne-Marie Trevelyan has said the UK will stand firm on its desire to strike investment and trade deals with Saudi Arabia, despite its poor record on human rights. Trevelyan told City A.M. at an event today that “trade deals will be done with those who wish to trade” amid furore this week [...]
Government doesn’t support cap on MP pay as a part of sleaze reforms March 17, 2022 The government does not support a cap on MP pay as a part of reforms proposed after last year’s Conservative party sleaze scandal, it has been revealed. The Guardian reports that ministers recently submitted its proposals for reform of parliament’s rules on second jobs for MPs to Westminster’s Committee on Standards, with a cap on [...]
Johnson says Saudi Arabia ‘understands’ need to protect globe from energy price rises March 16, 2022 Boris Johnson has said Saudi Arabia “understands” the need to help protect the globe from current energy price spikes, after trying to get the country to increase its production of oil. Johnson said after his meeting with Saudi Crown Prince Mohammed Bin Salman today that “I think there was an understanding of the need to [...]
Ukraine and Russia make progress on draft peace plan March 16, 2022 Ukraine and Russia reportedly made progress yesterday on a draft 15-point peace plan, after almost four weeks of fighting. The draft plan includes an agreement to a ceasefire, Ukraine agreeing to become neutral between Russia and Nato and commitments from Volodymyr Zelensky to shrink the Ukrainian army. This would include Ukrainian promises to not host [...]
Truss confirms £394m paid to Iran to free Nazanin Zaghari-Ratcliffe March 16, 2022 Liz Truss has confirmed in the House of Commons that the UK has paid its £393.8m debt to Iran to free Nazanin Zaghari-Ratcliffe, after six years in a Tehran prison. Fellow British-Iranian dual national Anousheh Ashouri was also freed after almost five years imprisonment, while Morad Tahbaz has been released “on furlough” and remains in [...]
UK and US to have ‘transatlantic dialogues’ in bid to boost trade March 16, 2022 The UK and US will next week hold the first of a series of “transatlantic dialogues” in a bid to boost bilateral trade between the two countries post-Brexit. The Department for International Trade (DIT) said the dialogues “will bring together government ministers, senior officials, trade unions, businesses and civil society from both sides to discuss [...]
