British factories to launch fastest price hiking cycle on record March 22, 2022 British factories are preparing to launch the fastest price hiking cycle on record in a sign that inflation will surge even higher in the months ahead. A net balance of one in every eight UK manufacturers intend to raise prices, according to research by the Confederation of British Industry (CBI). Products produced by factories are [...]
Energy giants face EU windfall tax March 22, 2022 Energy giants could be hit with a windfall tax from the EU - with the trading bloc weighing up a temporary levee amid high profits.
Home transactions up with market for pricey properties booming compared to pre-Covid levels March 22, 2022 Property transactions hit 96,250 last month, with big spenders buying more than before the pandemic. Transactions were up 15 per cent in February, compared to 83,450 in January, according to HMRC’s latest data on home transactions. Total sales for the first two months of the year stand at 179,900, some 18 per cent lower than [...]
Sunak resists calls to scrap tax hikes despite lower than expected borrowing March 22, 2022 The government borrowed much less than expected over the year so far, indicating Chancellor Rishi Sunak has room for giveaways at tomorrow’s spring statement. The UK borrowed nearly £26bn less than the fiscal watchdog expected in the year to February, the Office for National Statistics (ONS) said today, freeing up some room for the Chancellor [...]
London’s councils call for share of £2.6bn levelling up fund March 22, 2022 London’s councils are calling for a slice of the £2.6bn fund earmarked for the government’s levelling up agenda to also be given to the capital in Rishi Sunak’s spring economic statement tomorrow. London Councils, an association representing all 32 of the capital’s councils, has urged Sunak to ensure that London receives from the UK Shared [...]
UK Government borrowing hits £138.4bn, less than half of amount last year March 22, 2022 Government borrowing stood at £13.1bn in February, down by £2.4bn from the same month a year earlier, according to official figures. The Office for National Statistics (ONS) said that despite the fall, this was the second highest February borrowing since monthly records began in 1993 and was still £12.8bn more than in February 2020, before [...]
Going Nuclear: Can Boris Johnson really ramp up nuclear power? March 22, 2022 Nuclear power requires a clear strategy - with an established pipeline of funding - to contribute to the UK's energy strategy.
UK markets: ‘Penny is dropping’ there will be no immediate ceasefire in Ukraine while focus shifts to Sunak’s ‘double whammy’ March 22, 2022 European markets underwent a subdued start to the week yesterday, with the FTSE100 outperforming on the back of another day of advances for crude oil prices, pushing the index to close at its highest level since 28 February. “The main reason for the move higher in oil prices was reports that the EU was considering [...]
FSB urge Chancellor to ease pressures on businesses ahead of Spring Statement March 22, 2022 FSB calls on Sunak to cut fuel duty, help micro-businesses with energy bills and increase employment allowance to £5,000.
A ‘policy light’ spending review must still grapple with cost of living woes March 22, 2022 Chancellor Rishi Sunak wants onlookers to pay little attention to Wednesday’s spring statement. Policy-light has been the line from the Treasury. Very few have been tempted into believing the Chancellor will sit on his hands and Sunak’s announcements tomorrow are set to finally reveal his true preference for the level of state intervention in the [...]