Ovo Energy says sorry after it tells customers to do star jumps and cuddle pets to cut down bills January 11, 2022 Ovo Energy has apologised after it advised customers to do star jumps, cuddle pets and eat porridge to cut down energy bills and stay warm.
IoD Chief Economist Kitty Ussher on how the UK can balance the books January 11, 2022 This article first appeared in ICAS’ CA magazine. We emerge from the pandemic with cautious optimism – and a huge fiscal hangover. How do we balance the books and what role can CAs play in supporting the economy’s nascent recovery? IoD Chief Economist Kitty Ussher shares her thoughts Kitty Ussher is sitting in a meeting room at the [...]
Buckle up: Wild ride on Wall Street as rate rise talk spooks investors January 10, 2022 An explosive Goldman Sachs note triggered a day of drama on Wall Street today after the investment bank warned of as many as four US Fed rate rises in 2022 alone. The tech-heavy Nasdaq crashed by as much as 2.7 per cent in early trading, tipping it briefly into correction territory. A late rally saw [...]
Cost of living crisis: Millions of savers miss out as UK banks pocket profits from higher interest rates January 10, 2022 The UK’s major banks have failed to pass on last month’s interest rate rise to millions of savers, according to Moneyfacts.
Labour calls for windfall tax on North Sea oil and gas in bid to cut energy bills January 9, 2022 Labour is calling for a windfall tax on North Sea oil and gas to pay for a series of measures that would cut household energy bills by around £600 per year for the country’s lowest wage earners. The plan, unveiled today, would see every consumer save just under £200 per year and 9m of the [...]
Why the energy crisis is set to derail the UK economy in 2022 January 7, 2022 A wave of concern over the swelling cost of living is sweeping across Britain. While households are bracing for higher tax bills and are already being stung by food prices leaping, it is swelling energy costs that will hit hardest in 2022. The UK’s benchmark gas prices have quintupled since January 2021, leaping from £54 [...]
Freezing personal allowance and higher rate tax rates will push 1.2m Brits over 40 per cent tax threshold January 7, 2022 New research shared with City A.M. this morning shows that over one million more people will pay a higher tax rate by 2026. The analysis by the House of Commons Library – first published in The Daily Telegraph – says around 1.2m additional workers will find their earnings going over the 40 per cent tax [...]
Octopus Energy: We don’t know how much the consumer price cap will rise in April January 6, 2022 It is impossible to predict how much household bills will rise after the next review of the consumer price cap, warned Octopus' chief executive.
Sunak recommits to April National Insurance rise amid cabinet jitters January 6, 2022 Rishi Sunak has today recommitted to April’s National Insurance rise, after it was reported that he faced cabinet backlash over the measure this week. Sunak said today the tax rise is needed to deal with “an unprecedented level of backlogs within the NHS”, after it was reported that House of Commons leader Jacob Rees-Mogg called [...]
British firms intend to hike prices five per cent this year January 6, 2022 British businesses are laying the foundations to hike prices sharply this year as they scramble to survive amid soaring costs, reveal official figures published today. UK firms are intending to raise prices five per cent this year, according to the Bank of England’s survey of chief financial officers of British businesses. A toxic combination of [...]