Spring statement: Record fall in living standards under current parliament March 24, 2022 UK living standards will fall quicker over the course of this parliament than any other since records began, reveals fresh analysis released in the wake of chancellor Rishi Sunak’s spring statement. The typical non-retired household is forecasted to be two per cent worse off by the time of the next election in 2024, according to [...]
Potatoes are off the table with higher gas bills March 24, 2022 Yesterday, after the Chancellor unveiled his spending review, food banks pushed back as grim figures from the Office for Budget Responsibility warned of the biggest fall in household’s disposable incomes since records began. Richard Walker, the Managing Director of Iceland, gave a stark warning. He told the BBC that some food bank users were declining [...]
Rishi Sunak admits Brits face ‘challenging and uncertain’ times after Spring Budget March 24, 2022 Chancellor Rishi Sunak has said the country is facing “challenging and uncertain” times after official forecasters predicted the biggest fall in living standards on record. Following his spring statement on Wednesday, the Chancellor insisted the Government was “on the side of hard-working families”. But Labour said that he had done nothing to tackle the cost-of-living [...]
As inflation pushes hospitality prices up, customers’ patience will also start to wane March 24, 2022 Last week I had the painful, and for many people, familiar experience of trying to contact an airline to redeem evouchers. Mine was a simple request but not one I felt an online chat would resolve. After navigating a tortuous route through a myriad of menus, I was informed that they were too busy to [...]
UK watchdog warns millions of Brits face financial difficulty March 23, 2022 The Financial Conduct Authority (FCA) has warned that the cost of living crisis has put millions of Brits at risk of facing "serious financial problems."
Spring statement: OBR slashes economic growth forecasts on Russia-Ukraine war inflation spike March 23, 2022 The UK’s fiscal watchdog has slashed its forecasts for economic growth this year driven by the Russia-Ukraine war sending inflation spiking. The Office for Budget Responsibility (OBR) is expecting the UK economy to grow 3.8 per cent this year, down from six per cent in its previous forecast. Russian President Vladimir Putin’s decision to send [...]
As it happened: Rishi Sunak’s Spring Budget 2022 March 23, 2022 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer, Rishi Sunak, delivers the government’s Spring Budget for 2022 . Please do get in touch and let us know your opinion via news@cityam.com or @Cityam With the cost of living crisis, rising inflation, war in Ukraine and [...]
Sunak cuts fuel duty to ease pressure on motorists March 23, 2022 Fuel duty will be cut by five pence per litre for the next 12 months, revealed Chancellor Rishi Sunak in the Spring Statement today.
Rishi Sunak’s Spring statement today: From fuel duty cuts to tax and energy bills March 23, 2022 The time has come for the Chancellor to unveil his spring statement, with the spotlight on how he intends to deal with the cost of living crisis. Rishi Sunak is set to vow to “stand by” British families as he is expected to outline further plans to support households facing financial hardship on Wednesday, which [...]
Rishi Sunak needs to tell a story if he wants to keep a hold on the economy March 23, 2022 In an interview with the Sunday Times earlier this month, Gordon Brown gave a quote that was both reflective of his past failings and the challenge that lies ahead for Rishi Sunak. “I’m afraid we didn’t win the argument. You learn as you get older, or at least more experienced, that the facts are not [...]