Government and major businesses work together to help households with cost of living July 21, 2022 The government will collaborate with leading businesses to help UK households facing the cost of living crisis, it said today. The Cost of Living Business Tsar and ex-chief of Just Eat David Buttress agreed retail deals and discounts with major businesses in the UK like Asda, Sainsbury’s, Amazon, and Vodafone as part of the Help [...]
‘Left in limbo’: Pubs and brewers disappointed as alcohol duty legislation pushed back July 21, 2022 Brewers and pubs have been “left in limbo” after the government has announced delays to the next phase of changes to the alcohol duty system. Draft legislation was set to be published this summer, to be consulted on before being introduced through the 2022/2023 finance bill. Ministers have been looking at how to introduce changes [...]
All Bar One owner Mitchells & Butlers has drop in sales amid ‘major challenges’ from inflation July 21, 2022 All Bar One owner Mitchells & Butlers continue to face a “major challenge” due to the impact of the pandemic and ongoing inflation rises. The retailer experienced a drop in sales by 1.6 per cent in the year to date, claiming a mixture of the Jubilee weekend, industrial action and hot weather saw people go [...]
Moneysupermarket posts better-than-expected results due to surging demand for bank comparison services July 21, 2022 Price comparison website Moneysupermarket today said its first half performance was “ahead of expectations” after 19 per cent higher revenues saw its pre tax profits grow 20 per cent compared to last year. The website said its financial performance was boosted by returning demand from travel insurance comparison services and “exceptional” trading in its banking [...]
Brexit: UK lays foundation to scrap hundreds of EU financial services rules July 20, 2022 Ministers have today tabled landmark post-Brexit legislation in parliament that will lay the foundation to scrap hundreds of retained EU rules on financial services. The long-awaited Financial Services and Markets Bill sets up a mechanism to bin EU financial services regulations one-at-a-time and either replace them with completely new rules or with none at all. [...]
Martin Lewis warns government of ‘financial time bomb’ as cost of living crisis worsens July 20, 2022 Martin Lewis warned the government of a “financial time bomb” due to explode in September as the UK’s cost of living crisis intensifies. The founder of MoneySavingExpert.com issued an “open video letter” to the current Conservative Party leadership candidates and warned of even higher energy costs and civil unrest as the UK struggles with record [...]
Millions of Brits looking to move abroad in search of a better life as cost of living crisis becomes unbearable July 20, 2022 A staggering 4.5m Brits are considering moving overseas for a better quality of life, as a result of the cost of living crisis and for better career opportunities. In fact, over 3.4m UK working adults say moving outside of the UK is a long-term goal of theirs, while 3 per cent admit they are actively [...]
Property and rent price rises speed up as low stock and inflation grip households July 20, 2022 The pace of property and rental price rises in the UK has sped up, according to the latest figures, as a cost of living crisis shrinks household budgets. Rents in the UK rose by three per cent in the year to June, up from 2.8 per cent in the 12-months to May. House prices increase [...]
Sale of swimming pools and paddleboards skyrocket by 200 per cent as heatwave intensifies July 20, 2022 There has been an increase in sales of swimming pools by more than 210 per cent due to the heatwave. Lee Bagnall, CEO of GO Outdoors, shared with City A.M. this morning that over the past week his company has seen sales of outdoor living equipment soar, in response to the current heatwave that’s sweeping [...]
Consumers turn to instant noodles in cost of living crunch, says Premier Foods boss July 20, 2022 Shoppers are increasingly turning to budget meals amid the cost of living crisis in the UK, the boss of consumer goods giant Premier Foods said today. The popularity of its instant ramen brands Nissin and Batchelors, which own Cup Noodle and Super Noodles respectively, in the second quarter of this year have jumped, as household [...]