The Conservative Party under Johnson has given up its devotion to freedom June 13, 2022 It was country music legend Toby Keith who observed that “Freedom don’t come free”. Nevertheless, when the Conservative Party adopted the Manchester liberalism of Margaret Thatcher nearly 50 years ago, it was willing to pay the price. Freedom, in all its forms, became a touchstone of the Conservative brand, pursued not only for its beneficial [...]
CBI: Government must act now on economy to prevent recession June 13, 2022 Urgent action is needed from the government to revive growth otherwise the UK will plunge into a recession. That’s the warning today from the Confederation of British Industry (CBI), the country’s biggest business group. Without a fresh package of measures before the summer parliamentary recess to boost business confidence, a recession will be “a very [...]
SSE warns Sunak against expanding windfall tax to electricity generators June 12, 2022 SSE chief executive Alistair Phillips-Davies has warned the Chancellor Rishi Sunak against extending the windfall tax to electricity generators.
Kwarteng orders review of petrol retail market to ensure fuel duty cuts are passed on to consumers June 12, 2022 Business Secretary Kwasi Kwarteng has ordered the market watchdog to conduct an "urgent review" of the petrol market.
Octopus Energy locks horns with Centrica over market reforms as bidding war for Bulb lights up June 12, 2022 Two of the UK's biggest energy firms remain at loggerheads over key proposals to fix the industry by ringfencing customer balances.
Octopus enters race for collapsed supplier Bulb with eleventh hour bid June 11, 2022 Octopus Energy has made a last minute offer for Bulb Energy, establishing a three-way tussle for the UK’s seventh biggest energy supplier.
Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City A.M. Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]
Cost of filling up average family car shoots to £100 for first time June 9, 2022 The cost of filling up the average 55-litre family car has shot to £100 for the first time ever. According to data released today by Experian Catalist, petrol prices have reached an all-time record of 182.3p, going up by 1.6p from Tuesday, while diesel increased by 2.9p to 188.1p. Commenting on the increase, RAC fuel [...]
Cutting taxes without reshaping state is ‘challenging’ task, former BoE chief economist says June 8, 2022 The scope to cut taxes without worsening the standard of public services delivered by the state is limited, according to one of the UK’s top economic wonks. Professor Sir Charlie Bean, 68, told Nick Ferrari’s LBC breakfast show today that it will be “challenging… to sustain significantly lower taxes” without reshaping “what the state does”. [...]
UK to clock weakest growth in rich world amid economic ‘stagnation’ June 8, 2022 The UK will clock the weakest growth in the rich world caused by households retrenching amid the worst cost of living crisis in a generation, according to new forecasts released today. Rampant inflation driven by accelerating global energy prices as a result of Russia’s invasion of Ukraine and ongoing supply chain disruptions caused by China’s [...]