ISA season: Beat inflation with an IFISA March 13, 2023 With inflation still hovering around 10 per cent, savvy investors across the UK are searching for the most lucrative opportunities to protect their portfolios from eroding in real terms. As we head into ISA season, there is also the opportunity to enjoy tax-free earnings on your investments, giving consumers an additional boost during the cost-of-living [...]
TRG: Wagamama owner admits dining out will ‘never recover’ from Covid – but chains will not disappear from High Street March 13, 2023 The chief executive of Wagamama‘s owner The Restaurant Group (TRG) has claimed that dining out will never be as popular as it was pre-pandemic – but reassured chains will not disappear from the British high street altogether. “I don’t think the [casual dining] industry will never be quite as big as it was,” Andy Hornby, [...]
Spring budget: Back to work, childcare and post Brexit customs – what do we know so far? March 13, 2023 This Wednesday, Chancellor Jeremy Hunt will stand on the steps of No11 Downing Street – holding the famous Budget 2023 red box. Of his five predecessors, just Rishi Sunak was even in post long enough to reach this point. Political turmoil aside, his spring statement will also follow months of financial chaos, after economic shocks [...]
UK pay on track to trail inflation for 15th month in a row as cost of living crisis bites March 13, 2023 Wages are on track to trail inflation for the 15th month in a row, underscoring how much pressure the cost of living crisis is piling onto household finances, official figures out on Tuesday are expected to show. Regular pay growth is projected to trim to 6.6 per cent over the three months to February, down [...]
It’s time to move away from burning wood pellets for our energy needs March 13, 2023 The government should ditch the vast subsidies for biomass if it is serious about green energy, argues Nicholas Earl.
London economy steams ahead to top UK growth league and on track to avoid recession March 13, 2023 London’s economy is racing ahead of the rest of the UK and is on track to power the country’s GDP out of its current slump, new figures out today show. The capital’s purchasing managers’ index (PMI) shot up to 56 points last month, up sharply from 50.5 points and far above the 50 point threshold [...]
Recession kicked into long grass as UK steams ahead of Europe and US March 13, 2023 A recession hitting the UK economy is looking like an increasingly far flung prospect after yet more data today shows businesses and families are fending off the cost of living crunch. A net balance of 43 per cent of UK businesses are buoyant about the economy over the coming year, the highest level in a [...]
Budget: Childcare support and energy bills on Hunt’s to-do list March 12, 2023 Ending the prepayment meter penalty on energy bills and boosting childcare support for the poorest parents are among measures set to be announced in the spring budget. Chancellor Jeremy Hunt this weekend confirmed households on prepayment meters will no longer pay more than people on direct debits, as of July 2023. Energy security secretary Grant [...]
Tube and rail strikes THIS WEEK: How will industrial action affect London commuters and hospitality? March 11, 2023 Parts of Britain’s rail network – including London’s underground system – will be closed during next week’s Budget day strikes, bringing the country to a standstill and hitting hospitality hard. Hospitality bosses have warned the impact of the strikes will hit pubs, bars and restaurants hard, with an estimated £2.5bn having already been lost in [...]
BP boss Looney’s pay doubles to £10m – 170 times more than his average employee March 10, 2023 The boss of BP earned more than 170 times more than his average employee last year as his pay doubled to around £10 million after the company benefited from the Russian full-scale invasion of Ukraine. New figures from the oil giant showed that Bernard Looney’s total pay packet increased from around £4.5 million in 2021. [...]