Pensions growth ‘stabilises’ despite fears of a pandemic plunge, DWP finds June 28, 2022 Growth in pension saving has “stabilised” in the past two years despite fears that the pandemic would slash the amount of workers squirrelling away cash for retirement, official figures revealed today.
UK to tip into ‘mild recession’ as cost of living crunch cools spending June 27, 2022 Brits responding to the cost of living crisis by reining in spending may tip the UK into a “mild recession” next year, reveals fresh forecasts released today. The Bank of England embarking on a rapid interest rate hike cycle may also send the economy into reverse, according to a new report by consultants KPMG. Yael [...]
Week ahead: City eyes housing stats and BoE governor Bailey remarks June 26, 2022 The UK’s red hot housing market is set to revert to more normal territory driven by the cost of living crunch chilling demand for homes, fresh data released this week that will be closely watched by the City. London’s premier FTSE 100 index has rebounded after suffering bruising losses of late caused by investors around [...]
UK economy spiralling toward ‘troubling’ recession and even higher inflation June 23, 2022 The UK economy is hurtling towards a “troubling” slump that will see it tip into recession and suffer from rampant inflation, reveals a closely watched survey published today. Consumers are responding to the worst cost of living crunch in a generation by cooling spending, while businesses are grappling with flatlining demand, according to S&P Global’s [...]
UK locks down amid largest rail strike in 30 years – Millions face disruption – Retail footfall slumps June 21, 2022 Train and London tube passengers continue to face travel chaos due to the biggest strike by rail workers for a generation. Brits are urged to work and stay at home today, as road congestion is widely expected. Bolt crashed earlier this morning following a surge in both demand and prices, while the National Rail Enquiries [...]
Property market is hot but cooling amid cocktail of low stock, high inflation and uncertainty June 21, 2022 The UK’s property market is still going strong, despite fears that rising inflation and the cost of living crisis will choke growth. The number of properties changing hands fell again last month in comparison with its pandemic heights last year. However, with some 100,870 homes sold in May, the latest government data has found a [...]
Oil and gas body warns windfall tax will deter investment in domestic energy sector June 20, 2022 OEUK has ramped up its criticisms of the imposed windfall tax - describing the new levy as "punitive," amid fears it could jeopardise investment.
London boroughs sound the alarm bells as skyrocketing inflation is eating £400m hole into budget June 20, 2022 Skyrocketing inflation is driving £400m of additional budget pressures on boroughs in the capital, London Councils warned this morning. Although the government increased local authority funding this year, fast-rising inflation has effectively cut £100m from the financial uplift boroughs received for 2022-23. London Councils, a cross-party group representing all 32 boroughs and the City of [...]
London today: Mayor Sadiq Khan to roll out measures to take on ‘scourge’ of violence against women and girls June 15, 2022 The Mayor of London will unveil a new £18-million-funding package on Wednesday aimed at combatting the “scourge” of violence against women and girls in the city. During a visit to Waltham Forest in north-east London, Sadiq Khan will announce the Violence Against Women & Girls (VAWG) Strategy which uses public health and education to implement [...]
Brits’ living standards drop at quickest pace in over a decade June 14, 2022 Brits’ living standards are falling at the fastest pace in over a decade caused by historically high inflation outstripping pay, reveals official figures published today. Take home pay, accounting for price rises, dropped 2.2 per cent over the three months to April, the steepest fall since 2011, according to the Office for National Statistics (ONS). [...]