With Britain’s economic warning lights flashing, we need more than just tax cuts September 23, 2022 There are numerous indicators on the UK’s economic dashboard that are currently flashing red. Against these headwinds, tax cuts may be necessary but they will almost certainly not be sufficient
Liz Truss cost of living support fails to prevent new consumer confidence low September 23, 2022 Liz Truss’s cost of living support has done nothing to lift Brits’ optimism out of the doldrums, a closely watched survey published today reveals. Consumer confidence collapsed five points over the last month to minus 49, the lowest since research firm GfK started tracking the figures in 1974. The survey was carried out between early [...]
Kwarteng vows ‘new era’ as he prepares to unveil tax-cutting mini-Budget September 22, 2022 Kwasi Kwarteng will tomorrow outline the biggest package of UK tax cuts in more than 30 years as a part of the government’s bid to launch a Thatcherite economic revolution. The chancellor today confirmed he would axe this year’s 1.25 percentage point increase in National Insurance in tomorrow’s mini-Budget and he is expected to cancel [...]
Labour conference: Reynolds prepares to unveil his big pitch to businesses September 22, 2022 The Labour party is an unfamiliar position heading into next week’s party conference. Labour has had consistently strong poll leads this year, is presenting a unified front on policy and for once has not been the party subject to a summer of internecine factional recriminations. Sir Keir Starmer now has a chance to drive home [...]
National Insurance rise to be axed on 6 November, says Kwarteng September 22, 2022 This year’s hike in National Insurance will be axed from 6 November, Kwasi Kwarteng has today announced. The Treasury today said the move to reverse the 1.25 percentage point increase in National Insurance – which was originally brought in to pay for increased health and social care spending – will save businesses an average of [...]
Ofgem warns Scottish Power and Utilita over customer protections September 22, 2022 Ofgem has slapped two of the UK's leading energy firms with provisional orders, requiring them to meet requirements to customers.
Queen mourning period gave tourism and retail big boost, says payment firm SumUp September 22, 2022 The Queen’s death and funeral may have led to 10 days of national mourning, but it also gave Britain a welcome tourism boost, according to payments firm SumUp. SumUp, which provides 4m small and medium-sized firms and other organisations with payment devices, said the industry experienced a spike in the last fortnight. It released data [...]
Failure to cut energy demand risks ‘reckless’ waste of taxpayer money September 22, 2022 Capping energy prices without boosting insulation would risk a “reckless” use of taxpayers’ money, warned the Social Market Foundation.
Lidl now highest-paying supermarket in UK with £39.5m investment in staff salaries September 22, 2022 Discount giant Lidl has committed £39.5 in salary increases to its store and warehouse staff, becoming the highest-paying supermarket in Britain. The retailer is increasing hourly rates from £10.10 to £10.90 outside the capital, and within London, hourly wages will go up to £11.30 and £11.95 inside the M25. , Some workers are set to [...]
Sterling’s freefall is global but there are still markets where the Pound buys you more than last year September 22, 2022 The pound has tanked again against the dollar and is now down 18 per cent year-on-year. As the Bank of England prepares to hike interest rates later today, Sterling has endured a rough ride on the currency markets over the last 12 months. As a result, this is making holidays more expensive in 48 out [...]