Lift our economic spirits by keeping duties and tax down on Scotch Whisky August 16, 2022 You will struggle to find another industry that is like the Scotch Whisky industry. One that’s continued to invest in the UK economy despite the lost exports, tourist visits and hospitality income during the pandemic, rising production and shipping costs, and the loss of more than half a billion pounds in revenue because of tariffs [...]
Week ahead: City shapes up for possible double-digit inflation August 14, 2022 The City is bracing for a week brimming with big economic announcements that will shed more light on the health of the UK economy. London’s premier FTSE 100 index notched a decent performance last week, gaining nearly one per cent to close at a shade over 7,500 points. The mid-cap domestically-focused FTSE 250 index, which [...]
What the new interest rates mean for the City: ‘The UK fares worse than the EU and US’ August 13, 2022 The Bank of England’s decision to further raise interest rates from 1.25 per cent to 1.75 per cent and its two-year predictions means bad news for investors and UK residents alike. And the pain is far from over. A top City analyst expects this to further rise to 2.25 per cent in September. Other than [...]
Conservatives are paralysed by a false idea of what the ‘take back control’ means August 12, 2022 The Brexit promise to “take back control” has been translated to mean scrap all European regulation
Exclusive: Bank of England is ‘taking money from homeowners to curb inflation’ August 11, 2022 HOUSE prices will soon start to “flatline” following years of double digit rises, a leading property association claims this morning. Property values have continued to soar over the past two years in most regions of the UK – often defying predictions by economists who are convinced a crash is on the horizon. The National Association [...]
Growing inequality and financial strain is a threat to London’s social cohesion August 11, 2022 OUR great city works well because we Londoners muddle through together without too much friction. “Live and let live”’ has a claim to be the defining London motto. But there have been times where that harmony has shattered. I remember the shock of Tottenham and Croydon burning in August 2011 and of shops being boarded [...]
Heatwave drives retail sales but autumn slowdown anticipated as inflation masks falling volumes August 9, 2022 The summer is set to be “the lull before the storm,” with consumers splashing out on heatwave essentials at the tills while inflation masks a drop in volume sales. UK retail sales increased 1.6 per cent on a like-for-like basis from July 2021, according to the British Retail Consortium (BRC) and KPMG sales monitor. However, [...]
Global money transfers surged 60 per cent over the last decade to £538bn in the past year August 8, 2022 Global money transfers reached $653bn (£538bn) in the past year, a rise of 60 per cent over the last 10 years as economic trouble hits countries. Research by remittance provider ACE Money Transfer said the rise began as the world recovered from 2008’s global financial crisis in 2011-2012, with remittances important in aiding developing countries [...]
Half of all Brits risks falling into fuel poverty before the end of this year in harshest economic climate ever August 6, 2022 UK adults say the current economic climate is the harshest they have experienced, with half of all Brits either unable or soon to be unable to pay all of their bills. Millions of Brits are concerned about the months ahead as 47 per cent said they are not confident in their ability to pay their [...]
Don’t blame shops for prices if leaders can’t stop inflation August 5, 2022 Inflation is soaring and the UK’s food and drink manufacturers are under incredible pressure. No one can remember such sustained, relentless price rises across all our inputs – everything, from energy and ingredients to transport and wages, is more expensive. With food price inflation now at 9.8 per cent, everyone is asking: how much further [...]