Interview: IoD’s new chief economist delivers damning verdict on Tory tax hikes October 4, 2021 After just a month or so into the job, the freshly appointed chief economist of the organisation that represents British business leaders is wasting no time in weighing in on the ails of the UK economy, shooting down one area in particular – tax. Kitty Ussher of the Institute of Directors (IoD) has slammed the [...]
Rishi Sunak to unveil £500m extra funding for Covid jobs programmes October 3, 2021 Rishi Sunak will tomorrow commit to an extra £500m in spending to boost the government’s post-Covid jobs and skills programmes. Sunak will say in his Conservative party conference speech that he will “double down” on his promise to “do whatever it takes” to protect people’s jobs and livelihoods during the pandemic. It comes as the [...]
Boris Johnson admits UK shortages are here to stay until Christmas October 3, 2021 Boris Johnson has admitted the UK’s goods shortages will likely last until Christmas, while adding that “we need to see” a “period of adjustment” post-Brexit. The Prime Minister said today that he would not “pull the lever” of more immigration in the short-term to stop the lorry driver shortages. Petrol shortages are still being seen [...]
Sunak and Johnson strike deal to wean government off borrowing October 3, 2021 Prime minister Boris Johnson and chancellor Rishi Sunak have brokered a deal to wean the government off borrowing to finance spending. Any new spending announced at the upcoming budget and spending review must be financed by reductions in spending elsewhere or tax hikes, Johnson has reportedly agreed to. The news was first reported by The [...]
Tories told: Time to go for growth in budget as GDP gives some leeway October 1, 2021 CONSUMERS drove a faster than first thought recovery in the second quarter of the year. The Office for National Statistics yesterday upgraded GBP growth in the period from 4.8 per cent to 5.5 per cent. Economists, business groups and campaigners called on the Chancellor to use the additional leeway granted by the upwards revision to [...]
Gas prices hit a five-year high, just a day after three more suppliers go bust – CityAM : CityAM September 30, 2021 Gas prices have hit a five-year high today, a day after the UK’s gas crisis pushed three more suppliers to collapse. UK contracts for next month rose above 238p per therm, while wider European natural gas and power prices also touched new records. It comes as Rishi Sunak is set to announce £500m in grants [...]
Sunak to unveil £500m grants to ease cost of living for UK’s poorest September 30, 2021 Rishi Sunak is set to announce £500m in grants to help the country’s poorest during the current cost of living crisis the UK is facing. The chancellor is expected to announce in his Tory party conference speech next week that it will be put in place to help households cope with costs over what is [...]
Sunak should slash taxes at budget to protect recovery, urges taxpayers’ lobby group September 30, 2021 Chancellor Rishi Sunak should slash taxes at the budget to prevent the UK’s economic recovery from the Covid-19 crisis running out of steam. That’s according to the chief of the top lobby group for taxpayers, who warned looming tax hikes will hit hardworking families and businesses and cause the recovery to “fall flat”. John O’Connell, [...]
Central bank chiefs warn inflation shock will persist September 30, 2021 The cream of the central banking crop collectively warned yesterday shortages plaguing rich nations pose a threat to their economic recovery and are unlikely to end anytime soon. Andrew Bailey, governor of the Bank of England, Jerome Powell, chair of the US Federal Reserve and Christine Lagarde, president of the European Central Bank (ECB) said [...]
Starmer promises ‘strong economy’ and tells Johnson to ‘get a grip or get out of the way’ September 29, 2021 Sir Keir Starmer has vowed in his party conference speech to “never again under my leadership go into an election with a manifesto that is not a serious plan for government”, while promising four times to deliver a “strong economy”. The Labour leader said “the good society and the strong economy” are “partners” as he [...]