CPI inflation to scale to highest rate in recent history this spring and smash Bank of England’s expectations January 5, 2022 Inflation will hit a record high and smash the Bank of England’s expectations this year, according to bets laid by City analysts. The UK’s mainstream measure of inflation will accelerate to a peak of 6.8 per cent this April, propelled higher by swelling energy bills, investment banking giant Goldman Sachs warned yesterday. However, the cost [...]
Wave of cost of living concern sweeps across Britain January 5, 2022 A wave of concern over the soaring cost of living is sweeping across Britain, reveals fresh figures released today. Over half of households are worried the cost of living crisis will hit their living standards this year, according to research carried out by high street bank TSB. Nearly one in three Brits are concerned their [...]
Millions of commuters may be hit as national rail strike looms over job cuts and living costs January 4, 2022 A national rail strike looms this week as one of the leading rail workers’ unions is warning it may urge its members to pause work over job cuts. The Transport Salaried Staffs Association (TSSA) said rail workers faced losing their jobs this year just as the cost of living crisis spirals. The union is calling [...]
Energy chiefs urge government to step in to cool cost of living crisis January 3, 2022 Energy chiefs have called on the government to step in and ease the cost of living crisis looming over British households. The chief executive of Octopus Energy told Times Radio that unless the government intervened in the market, soaring gas prices will hit consumers hard. Greg Jackson said: “Unless action is taken, we will start [...]
MPs and peers urge Boris Johnson to scrap taxes on energy bills to reduce cost of living crisis January 2, 2022 Twenty Tory MPs and peers have called for the Prime Minister to scrap VAT and environmental levies on energy bills to ease the cost of living crisis.
Ikea hikes prices by 10 per cent as supply chain woes continue December 30, 2021 Ikea confirmed this morning that it has boosted the average price of products in its UK stores by 10 per cent, as supply chain issues continue to disrupt its operations.
Poverty looms for millions of UK families as energy bills climb by £1200, inflation rises and taxes jump 1.25 per cent in 2022 December 29, 2021 Soaring energy bills, inflation and rising taxes are likely to lead to a ‘cost of living catastrophe’ for millions of UK families, an economic think tank warned this morning. The Resolution Foundation (RF) said from next April families would typically face a £1,200-a-year hit to their incomes as the energy price cap is raised and [...]
Government under fire for splashing out tens of millions on rental cars at home and around the world December 28, 2021 The government has come under fire after it has emerged that the Ministry of Defence and a range of other departments spent millions on hire cars for staff. The Ministry of Defence alone splashes almost £13m, a Freedom of Information (FoI) request showed. Also, the Department for Transport spent more than £1.1m in the year [...]
Energy crisis: Govt and energy firms agree runaway gas and electricity bills should be avoided in 2022 but they fail to say how December 28, 2021 The government and UK’s largest energy companies agreed late last night that “UK customers have to be protected” from soaring gas and electricity prices in 2022, although it was not clear how they plan to do that. The meeting with Business Secretary Kwasi Kwarteng came after Labour and a boss of a major energy provider [...]
Markets bet on Bank of England hiking spree in 2022 December 23, 2021 Traders are ramping up bets on the Bank of England going a hiking spree this coming year. The Bank will look through economic risks posed by the Omicron variant of coronavirus and lift rates above one per cent by the end of 2022, the first time that level has been breached since 2009 in the [...]