Truss ‘giving with one hand and taking with other’ through stealth taxes, IFS says October 6, 2022 Liz Truss is “giving with one hand and taking with the other” by keeping stealth taxes, a new study out today reveals. Some £2 for every £1 returned to Brits in the prime minister and chancellor Kwasi Kwarteng’s tax cutting mini-budget will be lost to “fiscal drag,” the Institute for Fiscal Studies (IFS) said today. [...]
Pound snaps winning streak against US dollar after Truss conference speech October 5, 2022 The pound slumped against the US dollar today, slicing some of the gains it has made since the currency collapsed after Kwasi Kwarteng’s mini-budget last month. Sterling weakened as much as two per cent against the greenback. It was down against the euro too. The world’s major currencies have tumbled against the dollar this year. [...]
Outrageous raging inflation, and the distortion of CPI October 5, 2022 This week, Dr Chris Kacher pours scorn on CPI while speculating on what might happen if quantitive easing is introduced again.
Offshore workers back North Sea strikes over pay dispute October 5, 2022 Hundreds of offshore workers will go on strike for ten days between now and the end of the year following an escalating dispute over pay.
Liz Truss’s Tory Conference speech: The PM’s claims and statements fact-checked October 5, 2022 At the Conservative Party conference earlier today, Prime Minister Liz Truss gave her keynote speech, talking about her upbringing, the economic climate, and healthcare. Full Fact offered to fact check the different claims and statements for City A.M. “I stand here today as the first Prime Minister of our country to have gone to a [...]
UK real estate market particularly vulnerable to value crash, says Moody’s October 5, 2022 The UK real estate market is one of the most vulnerable in Europe to an imminent crash in value, according to a recent note by US investment giant Moody’s. “Markets with greater short-term fixed or variable rate borrowing, like the UK and Sweden, are at greater risk of a more sizeable correction,” the note said [...]
UK’s pension crisis could be repeated abroad, analysts warn October 5, 2022 The crisis that rocked the UK’s pension funds last week could soon be repeated overseas due to proliferation of so-called liability driven investment (LDI), analysts have warned.
London’s IPO slump continues as firms raise £565.5m October 5, 2022 Cash raised through initial public offerings in London plunged by more than seven times in the third quarter of the year as the Capital continues its barren run amid soaring inflation and market volatility.
Services economy stalls as UK ‘drifts’ toward recession October 5, 2022 Britain’s all important services economy is stagnating, driven by consumers cutting spending in response to soaring inflation, a closely watched survey out today shows. S&P Global and the Chartered Institute for Procurement and Supply’s (CIPS) purchasing managers’ index (PMI) fell to 50 last month from 50.9 in August. The reading means the UK services economy [...]
Quantum investments buoyed by government interest despite shaky markets October 5, 2022 Investments in quantum startups have been buoyed by increasing government support worldwide, despite a worsening economic climate, the boss of the UK’s only listed quantum investor has said today. The London-listed fund, which floated at the end of 2021, has also seen a “significant” uptick in the quality and number of potential investee companies coming [...]