London-listed energy giants shake off windfall tax jitters May 26, 2022 London-listed energy firms shook off concerns over the impact of a looming windfall tax on their excess profits during opening exchanges this morning. The capital’s premier FTSE 100 index edged 0.09 per cent higher to 7,529.53 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, [...]
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 [...]
Rishi Sunak to outline cost of living help on Thursday May 25, 2022 Rishi Sunak will tomorrow outline a multi-billion pound package to help Brits with the cost of living squeeze, with rumours rife the chancellor will hit UK oil and gas firms with a windfall tax. City A.M. understands that Sunak will deliver an “economy update” to the House of Commons, which will see up to £10bn [...]
Petrol prices rise to record levels as RAC calls on government to provide more support for drivers May 25, 2022 Petrol prices climbed to record levels for the third consecutive day yesterday, with soaring oil prices putting more pressure on consumers.
Sue Gray report: Johnson says UK must ‘move on’ as he takes ‘full responsibility’ for partygate May 25, 2022 Boris Johnson has said now is the time to “move on” from the partygate scandal, after saying he takes “full responsibility” for the brazen Covid rule-breaking uncovered in Sue Gray’s report. The Prime Minister told the House of Commons that he had “no knowledge” that Covid rules were broken on eight occasions, as deliberated by [...]
SSE teases mega investment plans to fight off prospect of a windfall tax May 25, 2022 Energy giant SSE has reported a 15 per cent boost in profits and a 23 per cent rise in earnings per share, driven by record investment this year.
Fish and chip shops struggle to keep heads above water as sector battered by price rises May 25, 2022 Some fish and chip shop owners could be driven to commit fraud in the absence of any further tax relief, one industry boss has warned. The words of warning came from president of the National Federation of Fish Friers, Andrew Crook, who told CityA.M. that the fish and chip industry had felt “abandoned” by the [...]
The City View: Crossrail finally arrives May 24, 2022 Today Andy Silvester talks to Adam Tyndall, Programme Director for Connectivity at London First. They talk all things Crossrail — from the first idea of an East-West railway in the 19th century, to the funding behind the Elizabeth Line, and to the future of London’s transport system. And in other news — Shell’s AGM was [...]
Kwarteng says windfall tax on electricity firms would be ‘challenging proposition’ May 24, 2022 Slapping a windfall tax on electricity generators would be a “challenging proposition” and could hamper the UK’s net-zero ambitions, according to business secretary Kwasi Kwarteng. The business secretary also came out firmly against a windfall tax on oil and gas companies, saying the policy is “not a good idea” in comments that will put him [...]
UK economic headwinds cast shadow over Sunak’s cost of living support package May 24, 2022 A slowing UK economy will heap more pressure on the country’s finances, casting doubt over the scale of support chancellor Rishi Sunak will launch to help households through the cost of living crunch. That’s according to economists’ assessments of fresh borrowing figures published today by the Office for National Statistics (ONS). A combination of rising [...]