Emergency talks: Chancellor and energy bosses hold crisis meeting as gas bills risk climbing to £4,400 August 10, 2022 Chancellor Nadhim Zahawi and Business Secretary Kwasi Kwarteng will hold emergency talks with energy sector chiefs today as the price cap was forecast to hit more than £4,400 in January. In a new dire outlook for households, Cornwall Insight said bills are set to soar to around £3,582 in October, from £1,971 on Tuesday, before [...]
Fear has pushed us back to cash as banks fail to help consumers control spending August 10, 2022 We’ve come to believe we live in an almost completely cashless society today. In fact, withdrawing large amounts of cash from your bank is viewed with suspicion – victim of fraud or tax evasion? What other possible reason could you have for cash? Even Big Issue sellers now have Square readers to accommodate this shift. [...]
Three in four Brits want hybrid work to cope with cost of living crisis August 10, 2022 Three in four British workers want hybrid work to cope with the cost of living crisis gripping the country. Employees want their employers to offer flexible hybrid working as inflation surges to record levels of 9.4 per cent in the country, a survey by hiring software company Greenhouse found today. As the cost of essentials [...]
Government urged to offer more support for households to tackle spiralling energy bills August 9, 2022 The Government is under pressure to offer more support to households as soon as possible, following forecasts of record energy bills.
150,000 Brits join campaign to force govt to do more to tackle cost of living crisis August 9, 2022 A new campaign to press the Government to do more to tackle the cost-of-living crisis is backed by more than 150,000 people. Union leaders said the fact so many people signed up to the Enough is Enough campaign on its first day on Monday shows the popularity of the initiative. Dave Ward, general secretary of [...]
Don’t rule out even more rate rises, Bank of England’s Ramsden warns August 9, 2022 The Bank of England will have to build on the biggest rate rise in nearly 30 years to sweep inflation out of the UK, a senior official at the monetary authority said today. Dave Ramsden, deputy governor at the Bank, told Reuters “it’s more likely than not that we will have to raise Bank Rate [...]
Sunak says Truss is ‘divorced from reality’ over cost of living crisis August 9, 2022 Rishi Sunak has launched a stunning attack on Liz Truss today, with his campaign team labelling the Tory leadership frontrunner as “divorced from reality”. A Sunak campaign spokesperson said Truss has refused “five times” to say if she will promise to hand out emergency payments to combat spiralling energy bills and that her plan to [...]
Millions of Brits in for shock charges as credit card rates hit highest level since 1998 August 9, 2022 With credit card borrowing growing at its fastest pace since 2005, new analysis shared with City A.M. this morning shows that last month average rates on credit cards hit their highest level since 1998. An analysis of the Bank of England’s quoted household interest rate figures uncovered that average credit card rates jumped 0.23 percentage [...]
Brits to face record £4,400 energy bills as gas prices refuse to come down August 9, 2022 Cornwall Insight has hiked its price cap forecasts to over £4,000 next year, attributing the rise to Ofgem's decision to shift to a quarterly model.
Calls grow to introduce energy bill ‘furlough’ and to fight cost of living crisis with ‘wartime mentality’ August 9, 2022 The UK Government should treat the cost-of-living crisis with a “wartime mentality” and issue an energy bill “furlough”, according to the Liberal Democrats. The party’s Scottish leader, Alex Cole-Hamilton, made the call on the BBC’s Good Morning Scotland programme on Tuesday. “Families right across Scotland, and indeed the UK, will be looking towards the coming [...]