Khan urges government to ‘get a grip’ on cost of living crisis February 5, 2022 Mayor of London Sadiq Khan has called on the government to “get a grip” on the cost of living crisis, after energy prices were confirmed to rise by £700 this year. A new energy price cap coming into effect in April will see customers paying an average of £700 more a year. With runaway inflation, [...]
Council tax will cushion the cost of living crisis, but it accepts an outdated policy February 4, 2022 With inflation soaring, people are becoming increasingly desperate. Inflation is at record levels, sitting at 4.8 per cent in December and expected to soar as high as 7 per cent by April. The repercussions of this will be particularly strenuous on the most vulnerable. Indeed, the price of essential items that make up a larger [...]
Disbelief and outrage across EU as UK says it won’t do anything to stop end to Brexit food checks February 3, 2022 European media responded with shock and disbelief this morning after a minister in Northern Ireland ordered to end checks on food in his country and the UK declared it won’t do anything about it. Moreover, Northern Ireland First Minister Paul Givan is expected to announce his resignation by the end of the week, potentially later [...]
Cost of living crunch to derail UK economy in bruising day for living standards February 3, 2022 A double whammy of bad news today laid bare the scale of the blow the cost of living crisis will deal the British economic recovery, with the energy price cap set to spike by 54 per cent and GDP forecasts slashed by the Bank of England. Ratesetters at Threadneedle Street hiked the interest rate to [...]
Households face painful hike in energy bills amid deepening cost of living crisis February 3, 2022 Households will suffer an eye-watering £700 hike to their energy bills this spring, after Ofgem raised the price cap by over 50 per cent.
ECB leaves rates untouched despite record high inflation February 3, 2022 The European Central Bank (ECB) yesterday left interest rates unchanged despite inflation on the Continent running at its highest level ever. The ECB’s decision to leave rates in negative territory was taken despite president, Christine Lagarge, warning the cost of living in the bloc could rise even further. Europe’s central bank’s inertia runs against the [...]
UK services inflation accelerates at record pace as cost of living squeeze intensifies February 3, 2022 UK businesses are raising prices at the fastest rate on record as Brits prepare for a once-in-a generation cost of living squeeze, reveals a closely watched survey published today. Prices for products produced by services businesses, including pubs, restaurants and bars, rose at the quickest pace since 1996, according to IHS Markit. Soaring raw material [...]
Brits brace for worst cost of living squeeze since 1990 February 3, 2022 Brits are set for the worst cost of living squeeze in recent history in just a few months’ time, reveals fresh forecasts released by the Bank of England today. A combination of swelling energy bills and soaring food prices will erode real incomes at the fastest pace since in over 30 years. Rampant price rises [...]
Rishi Sunak to offer council tax rebates and cuts to protect households from rising energy bills February 3, 2022 The Treasury is preparing a council tax rebate scheme as part of Chancellor Rishi Sunak's plans to ease the pressure on UK households this spring.
PMI: Recovery of UK services sector regaining momentum February 3, 2022 The recovery of the UK services sector regained momentum last month, according to new figures. The closely watched IHS Markit/CIPS UK Services PMI survey scored 54.1 in January, bouncing back from a 10-month low of 53.6 in December. Any score above 50 shows growth in the sector. The latest data showed that activity in the [...]