Central bank chiefs warn inflation shock will persist September 30, 2021 The cream of the central banking crop collectively warned yesterday shortages plaguing rich nations pose a threat to their economic recovery and are unlikely to end anytime soon. Andrew Bailey, governor of the Bank of England, Jerome Powell, chair of the US Federal Reserve and Christine Lagarde, president of the European Central Bank (ECB) said [...]
Starmer promises ‘strong economy’ and tells Johnson to ‘get a grip or get out of the way’ September 29, 2021 Sir Keir Starmer has vowed in his party conference speech to “never again under my leadership go into an election with a manifesto that is not a serious plan for government”, while promising four times to deliver a “strong economy”. The Labour leader said “the good society and the strong economy” are “partners” as he [...]
Brits’ energy bills to swell more than £300 with poorest hit hardest September 27, 2021 Brits’ household bills are set to swell over the next year, with the poorest households being hit hardest by the energy crisis, according to new research. Energy bills will rise by more than £300 over the next year, highlighting the scale of the impact the crisis will have on Brits’ finances, shows research by the [...]
Furlough worth £70bn but unemployment fears mount as scheme ends on Thursday September 27, 2021 The furlough scheme cost the government £70bn and has been successful at preventing unemployment from skyrocketing, but concerns are sharpening about the jobs market’s ability to stand on its own two feet as the scheme ends this week. The initiative cost roughly the equivalent of 18 months’ of funding for UK schools, according to research [...]
Brits’ energy bills to swell more than £300 with poorest hit hardest – CityAM : CityAM September 26, 2021 Brits’ household bills are set to swell over the next year, with the poorest households being hit hardest by the energy crisis, according to new research. Energy bills will rise by more than £300 over the next year, highlighting the scale of the impact the crisis will have on Brits’ finances, shows research by the [...]
Anxiety about soaring living costs weighs down UK consumer confidence September 24, 2021 Intense anxiety about sharp rises in the cost of living is weighing down Brits’ confidence levels, according to fresh data published today. Consumer confidence in the UK slid five points to minus 13 in September, driven by Brits sharpening their focus on the spectre of inflation and tax hikes looming over their living standards. Empty [...]
Spectre of ‘stagflation’ looms over UK economy September 23, 2021 The UK economy is in real danger of undergoing a period of “stagflation” as prices soar and growth slows to a snail’s pace, according to a closely watched survey released today. The latest IHS Markit / CIPS UK composite output index dropped to 54.1 in September, down from August’s reading of 54.8. Chris Williamson, chief [...]
Britain needs to sober up from our addiction to gas September 21, 2021 This will be a winter where energy prices seldom stay out of the news. With the combination of cracks appearing in our creaking electricity system, record global gas prices, and the largest overnight benefits cut in history risk colliding in a way that piles yet more pressure on families already struggling. In the short term, [...]
Perfect energy storm: Do the gas price hikes mean your bills will rise? September 20, 2021 Government ministers and energy companies are in crisis talks today, as the price of gas has soared in recent weeks, putting several energy suppliers out of business and forcing some factories to stop production altogether. The price of wholesale gas has surged by 250 per cent since the beginning of the year and added 70 [...]
How worker shortages are cleared will determine UK economy’s trajectory September 4, 2021 You would be forgiven for forgetting we are currently amid one of the best runs of economic growth in living memory with all the negative news about supply chain snarl ups, worker shortages and soaring inflation flying around. A slew of data published this week, alongside a raft of announcements from supermarket, retail and food [...]