PMI: House building shrinks for first time since beginning of pandemic July 6, 2022 A slowdown in the UK economy triggered by the cost of living crisis has led to house building stalling, a closely watched survey published today reveals. Activity in the UK house building sector dropped for the first time since May 2020, when the country was in the teeth of the most onerous pandemic restrictions, according [...]
Pound still at lowest level since start of pandemic amid government chaos July 6, 2022 The British pound is at its lowest level since the start of the Covid pandemic in March 2020 as the UK government faces a political crisis. The pound has slid 0.6% today to $1.1883 as a wave of ministers resigned from Boris Johnson’s government. Sterling initially dropped more than a cent to below $1.20 for [...]
Petrol prices drop slightly for first time since April, but motoring associations say it’s not enough July 6, 2022 Petrol prices have slightly dropped for the first time since mid-April, according to reports from motoring association the AA. Figures have shown that the average price of a litre of petrol at UK pumps went down by 0.3p between Sunday and Monday. The price of petrol yesterday was around 191.3p, well below Sunday’s record price [...]
Make-or-break day for Boris Johnson as Tory calls for PM to resign grow louder after Sunak and Javid flee cabinet July 6, 2022 Prime Minister Boris Johnson wakes up to growing calls to resign after a wave of Government exits, including Cabinet resignations, are threatening to end his time in No 10. Rishi Sunak and Sajid Javid resigned immediately after the Prime Minister apologised for giving former deputy chief whip Chris Pincher a top job despite knowledge of [...]
Consumer confidence plunges to Covid lockdown lows as households’ financial worries spiral July 6, 2022 Consumer confidence in the economy has plunged to its lowest point since the start of the pandemic as Sainsbury’s top boss warned the worst was yet to come. According to Which? research published today, only eight per cent of consumers felt the UK economy would improve over the next 12 months. However, nearly eight in [...]
Tax the childless? We need to build a country economically fit for families July 6, 2022 Last weekend, something unusual occurred – a demographics expert went viral. Not usually the purview of front-page news, a piece by Dr Paul Morland, of Oxford University, on how Britain could improve its falling fertility rate provoked accusations of Nazism and of treating women as incubators. Certainly, some of Morland’s suggestions were stupid, some even [...]
UK’s cost of living crisis has created ‘perfect conditions for fraud to flourish,’ new report says July 6, 2022 The UK’s cost of living crisis is creating the “ideal environment for fraudulent activity,” a new report from the Chartered Institute of Internal Auditors (CIIA) has warned. Covid-19, the war in Ukraine, and the UK’s cost-of-living crunch are creating the “perfect conditions for fraud to flourish,” the report says, as it calls on businesses to [...]
A recession will tempt firms into short-term cuts and sacrifice of future growth July 6, 2022 Throughout the history of recessions and periods of high inflation, when businesses have felt compelled to cut back to protect their margins, they’ve often looked at marketing spend with a raised eyebrow. It’s usually one of the biggest line items and certainly one of the easiest to cut. It’s a deep shame, therefore, it has [...]
Petrol June surge smashes previous records July 6, 2022 The average cost of a litre of petrol has jumped 16.6p in June, smashing previous records, according to data released today. Figures from the RAC Fuel Watch revealed that petrol costs surged from 174.8p to 191.4p, meaning that the cost of filling up a family car has increased by £9 in 30 days to £105.29. [...]
Oil prices nosedive as recession fears rise across developed economies July 5, 2022 Oil prices have plummeted a whopping $10 across both benchmarks, as recession fears curtailed demand and drove down prices.