Businesses exposed to deepening energy crisis warns Cornwall Insight July 3, 2022 The "cost of living crisis" could escalate to a "cost of doing business" crisis this winter, warned energy specialist Cornwall Insight.
Sainsbury’s and M&S walk into shareholder storm over minimum living wage versus bumper bonuses July 1, 2022 Supermarket giant Sainsbury’s will be put under pressure next week to pay all staff and contracted workers the national living wage, as activists mobilise in the first shareholder resolution of its kind. Responsible investment campaign group ShareAction is driving the experimental motion at the supermarket giant’s annual general meeting on Thursday 7 July. Legal & [...]
Education union threatens teacher strike unless ‘inflation plus’ pay increase secured July 1, 2022 An education union has rejected a nine per cent pay increase for new teachers as inadequate and threatened to strike if a better offer is not made. The joint general secretaries of the National Education Union (NEU) wrote to the secretary of state Nadhim Zahawi asking him to address the “ profound crisis” in the [...]
No 10 moves towards VAT cuts for millions of Brits as cost of living crisis rages July 1, 2022 Downing Street is proposing to reduce value-added tax in an effort to ease the cost of living. The Prime Minister’s chief of staff Steve Barclay suggested reducing the 20% headline rate of tax temporarily, The Times reported on Thursday. He said the temporary cut would bring down the tax bill for millions across the UK [...]
Zero sympathy: Jacob Rees-Mogg slams ‘selfish’ and ‘unnecessary’ strikes July 1, 2022 Brexit Minister Jacob Rees-Mogg has hit out at “selfish” strikers, claiming that they are hampering productivity in the Civil Service. The Minister for Brexit Opportunities and Government Efficiency was about the numbers of people in the Civil Service who have returned to the office. “Well, they were getting better until the railways went on strike,” [...]
Taxpayers to foot extra £27.3m bill for Royal Family even as cost of living soars July 1, 2022 UK taxpayers will pay an extra £27.3m over the next two years for the Royal Family even as a cost of living crisis grips the country. The additional amount is to help the Royal Family meet expenses after a drop in profits at the Crown Estate, Bloomberg reported on Thursday. The Royals spent £102.4m in [...]
Boost for Global Britain as UK exports to EU defy Brexit challenges and hit highest level ever July 1, 2022 New ONS data shows that British exports to the EU reached their highest ever level due to rising exports of fuels as the bloc continues to import substantial quantities of LNG. Goods exports to the EU reached £16.4bn in April 2022, their highest level in current prices since the series began in 1997. Meanwhile, the [...]
Mortgage costs expected to grow by another £2,500 as inflation spirals July 1, 2022 The cost of a mortgage is expected to grow by another £2,500 by the end of this year, in comparison with December 2021, according to property site Zoopla today. Economists anticipate “sharp” hikes to mortgage rates in the coming months, as the Bank of England seeks to tame spiralling inflation, which is already at 9.1 [...]
Mounting downturn jitters send London’s FTSE 100 lower June 30, 2022 Mounting concerns about a global economic downturn sent London’s top indexes tumbling today. The capital’s premier FTSE 100 index shed 1.96 per cent to close at 7,169.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 1.95 per cent to 18,666.78 points. A combination [...]
Barclays fights cost of living crisis with £1,200 pay rise for 35,000 employees June 30, 2022 Barclays is giving 35,000 of its UK-based staff a £1,200 pay rise to tackle the cost of living. The banking giant will provide this salary increase to customer-facing, branch, and junior support workers from 1 August. “Barclays will continue to monitor the economic situation globally and consider our approach to pay in each country in [...]