Rees-Mogg says cutting taxes could reduce inflation in split with PM June 28, 2022 Jacob Rees-Mogg has said cutting taxes immediately may reduce inflation in comments that will put him in direct dispute with Boris Johnson and Rishi Sunak. The Brexit minister today said getting inflation under control “doesn’t necessarily mean tax increases – indeed it could mean tax cuts”. Johnson and Sunak have both said the UK cannot cut [...]
Sunak: UK has ‘tools at our disposal’ to tackle 40-year high inflation June 28, 2022 The UK has “the tools at our disposal” to tackle the worst inflation spike in four decades, the chancellor urged today. Responding to a grilling by MPs in the house of commons, chancellor Rishi Sunak said Britain is “not immune” to the inflationary “shocks” that are sweeping through the world’s richest economies. Prices have climbed [...]
Johnson’s plans for further steel tariffs are a black mark against Global Britain June 28, 2022 Boris Johnson has said he intends to extend tariffs on steel from China. This is a clear breach of WTO rules and, allegedly, was the final straw for his ethics adviser. But to Johnson this is the reasonable next step. He will also impose them on other countries, this time in line with rules from [...]
Lagarde: European Central Bank will go ‘as far as necessary’ to tame inflation June 28, 2022 The European Central Bank (ECB) will go “as far as necessary” to tame the worst bout of inflation on the Continent since records began, its chief said today. President Christine Lagarde said at the ECB’s monetary policy summit that the central bank’s commitment to getting the rate of price rises back to its two per [...]
Heathrow ordered to lower passenger charges to less than £27 after bitter dispute with airlines June 28, 2022 The aviation watchdog ordered Heathrow Airport this morning to reduce its passenger charges amid a surge in demand for flights. The Civil Aviation Authority (CAA) said the cap on the west London airport’s average charge per passenger will fall from £30.19 today to £26.31 in 2026. Adjusted for inflation, the fare will amount to £28.39 [...]
‘Real pay cut by 12 per cent’: Firefighters threaten to strike after angrily rejecting 2 per cent pay offer June 28, 2022 A firefighters’ union leader is warning of strikes after reacting angrily to a 2 per cent pay offer. The executive of the Fire Brigades Union (FBU) is recommending rejection of the offer, which it said is well below the soaring rate of inflation. Between 2009 and 2021, firefighters’ real pay has been cut by 12 [...]
Prime Minister and Chancellor to dismiss Tory calls for early tax cut June 28, 2022 The Prime Minister is set to bat away demands from Tory backbenchers to slash cuts in a major speech with the Chancellor next month. According to a report in The Times, Boris Johnson and Rishi Sunak are set to outline the government’s economic strategy in the speech. However, they will delay announcing a timeline for [...]
Exclusive: Poor connectivity costs UK firms £18bn a year June 28, 2022 British SMEs are losing £18.77bn a year because of poor connectivity, costing the UK economy, an estimated loss of £7.7bn every year. The research, conducted by Three UK, YouGov and Development Economics, found that micro-businesses and small to medium sized firms, who provide their employees with work phones, are losing out on an average of one hour of [...]
Soaring inflation burns hole in councils’ finances, LGA finds June 28, 2022 Rampant inflation is burning a hole in the finances of English and Welsh councils and may force them to trim public services without more funding, reveals a fresh report published today. Rising energy costs caused by Russia’s invasion of Ukraine lifting European gas prices and an uplift to the national living wage will heap an [...]
Postal services face summer mayhem as strikes loom June 27, 2022 Over 100 Crown Post Offices will closed for one day in July, as workers strike against a massive real-terms pay cut.