Venues plead Chancellor to reduce tax burden as pubs and restaurants face ‘bleak summer’ July 4, 2022 Night time economy bosses have urged the Chancellor to slash VAT to 12.5 per cent in a bid to help businesses recover to their pre-Covid glory. Pleas for help from sector leaders followed reports last week that Downing Street was mulling reducing the headline rate temporarily to help UK households navigate the cost of living [...]
Kellogg’s loses court battle against government over sugary cereal promotion rules July 4, 2022 Cereal giant Kellogg’s has lost its court case against the government’s new rules on the promotion of sugary foods in supermarkets. Kellogg’s had argued the government’s formula does not take into account the nutritional benefits of milk, which is typically consumed with cereal at breakfast. However, a ruling at the Royal Courts of Justice sided [...]
15 years of income stagnation leaves families brutally exposed to cost of living crisis with income inequality growing fast July 4, 2022 Real typical household disposable income growth for working age families has slumped to just 0.7 per cent a year in the 15 years leading up to the Covid-19 pandemic. This has left households, particularly those in rented accommodation and with young children, brutally exposed to the current cost-of-living crisis, according to new research published today [...]
Pret a Manger back in black after pandemic massacre as sandwich giant eyes overseas expansion July 4, 2022 Sandwich and coffee chain Pret a Manger has said it returned to profitability in March after suffering another year of hefty losses in 2021 amid lockdowns and Covid restrictions. The group revealed it remained in the red with operating losses of £225.9m last year, in new filings on Companies House. This was an improvement on [...]
Sainsbury’s and M&S walk into shareholder storm over minimum living wage versus bumper bonuses July 4, 2022 As activists mobilise in the first shareholder resolution of its kind, supermarket giant Sainsbury’s will be put under pressure this week to pay all staff and contracted workers the national living wage. Responsible investment campaign group ShareAction is driving the experimental motion at the supermarket giant’s annual general meeting on Thursday 7 July. Legal & [...]
Workers lose over £9k of yearly income rises during ‘lost decade’ July 4, 2022 Brits have lost over £9,000 of annual income rises during and just before the “lost decade” after the global financial crisis, reveals a fresh report published today. Typical household income growth has ground to a halt of just 0.7 per cent per year between 2005 and 2020, while incomes surged 2.3 per cent each year [...]
Letters: Fundraising in a recession July 4, 2022 [Re: UK to tip into ‘mild recession’ as cost of living crunch cools spending, June 27] When money gets tight, people rein in their spending. These types of decisions have a social impact as well. When disposable income decreases, people need to make tough decisions across their budgets, and how much they help others is [...]
Recruitment guru Paul Farrer warns employers half of all Brits are currently looking for a new job July 4, 2022 Sixty per cent of all workers are currently looking for a new job, with as many as just under half of them searching for a new role due to the cost of living crisis. That is the warning from Paul Farrer, the founder and chairman of recruitment giant Aspire. According to research carried out by [...]
Londoners owed £40m in council tax refunds July 3, 2022 London households are owed £40m in council tax refunds, new research yesterday revealed. An investigation by Moneysavingexpert.com showed that 862,027 households in England, Scotland and Wales were due a refund in overpaid council tax. With claims worth a total of £150.2m, households that have overpaid their council tax are owed an average of £174 each. [...]
British Gas owner Centrica begins dividend balancing act amid record household energy bills July 3, 2022 British Gas owner Centrica is expected to confirm its post-pandemic rebound with mega profits in its upcoming half-year results last this month.