Nearly 2m more Brits trapped by higher tax rates since 2019 Tory election win June 30, 2022 Boris Johnson has heaped higher tax rates on nearly 2m more Brits since he won the 2019 general election, reveal official figures published today. The number of people paying the higher rate of income tax has swelled to 6.14m, up around 1.88m since Johnson led the Conservatives to a huge majority two and a half [...]
UK more likely than US and Europe to tip into recession, Goldman Sachs warns June 30, 2022 The UK is more likely to tip into recession than the US and Europe due to the country suffering from a more “acute” cost of living crisis, a top Wall Street investment bank has warned. Rampant inflation in Britain, running at a four decade high of 9.1 per cent and the highest in the G7, [...]
UK set to cut food tariffs to ease cost of living pressures June 30, 2022 The UK is set to cut tariffs on imported food in a bid to ease the cost of living crisis, Boris Johnson has said. The Prime Minister said products the UK does not produce – like oranges, rice, olives and bananas – could see price cuts in the coming months by slashing tariffs on foreign [...]
‘The sex toy bubble has burst’: Brits spend less on self-pleasure as food and energy bills swallow their budgets June 30, 2022 Brits are spending less on self-pleasure as they are forced to focus on paying for food and utilities instead. Research compiled by The Open University shows that the impact of the current cost of living crisis is hitting UK consumers hard, with 83 per cent of adults are reporting a rise in the cost of living, with 51 per cent having to spend [...]
Sadiq Khan: London needs to cut its dirty energy addiction and divest from fossil fuel industries June 30, 2022 THE PANDEMIC was devastating for our capital city, country and economy. But the upheaval, loss of life and cost to business that would result from a full-blown climate crisis defies comprehension. It is both unimaginable and unquantifiable. As we host London Climate Action Week, my message is that all of us – cities, businesses and [...]
Travel disruption looms over as Avanti West Coast workers vote to strike June 29, 2022 Travel disruption continues to loom over the UK as hundreds of members of the TSSA union working for Avanti West Coast have voted in favour of walking out. The union announced today the results of the ballot– which was called on 10 June over pay, conditions and job security as the cost-of-living crisis continues to [...]
Small businesses lambast government’s price cut plan for being a “slap in the face” June 29, 2022 Asking small businesses to cut product prices as a way for the government to help Brits with the cost-of-living crisis was deemed as a “slap in the face” by trade bodies. The Federation of Small Businesses (FSB) argued that forcing small firms to “soak up additional costs just isn’t realistic,” as business owners are no [...]
Remortgage sales hit highest level since before the pandemic outnumbering all other types of home loans June 29, 2022 The FCA’s latest data shows that remortgage sales in the fourth quarter of last year, at 92,558, reached their highest level of activity since early 2020, before the outbreak of the pandemic. In fact, they outnumbered all other types of home loans for the first time since the third quarter of 2020, according to analysis [...]
London’s hotel mojo is back as occupancy rates climb albeit pandemic recovery remains ‘uphill battle’ June 29, 2022 Recovering occupancy rates and food and beverage sales are rapidly powering a recovery in the London hotel market, albeit slower than the industry had anticipated. For the first time since prior to the pandemic, occupancy rates in London are now exceeding the rest of the UK, at 66.9 per cent, overtaking UK rates of 68.4 [...]
Three in four Brits need to take action to make ends meet as merciless cost of living crisis matures June 29, 2022 Four out of five Brits are concerned about making ends meet as living costs surge and three-quarters need to take action to cope with the financial pressures, a new report has found. Over a third (35 per cent) plan to cut back on non-essential leisure and holiday spending, according to the Scottish Widows data, while [...]