Rayner demands records of PM’s meetings over bankers’ bonus cap June 22, 2022 Deputy Labour leader Angela Rayner has demanded Boris Johnson’s office release all details of meetings he has held to discuss the bankers’ bonus cap over the past year. Rayner wrote to Johnson’s chief of staff Steve Barclay to request details of a meeting Johnson held with City figures last year where, according to the Financial [...]
UK factories hit by fastest cost rise since 1980s June 22, 2022 The price of materials used by UK factories are rising at the fastest pace on record in a sign that consumers could soon be spiked by a further inflation surge, fresh figures published today reveal. Input prices soared just over 22 per cent over the year to May, the fastest acceleration since the Office for [...]
Brexit has damaged UK’s competitiveness, reduced productivity and lowered Brits’ real wages, LSE says June 22, 2022 A new bombshell study said this morning that Brexit has damaged Britain’s competitiveness, reducing productivity and lowering workers’ real wages in the years ahead. The report said Britain has experienced a decline of 8 per cent in trade openness – trade as a share of economic output – since 2019, losing market share across three [...]
UK inflation highest in G7, dialling up pressure on Bank of England to raise rates again June 22, 2022 The likelihood of the Bank of England hiking interest rates for the sixth time in a row is ramping up after new figures revealed the UK has the highest inflation in the G7. Prices climbed 9.1 per cent annually in May, up from April’s already four decade high rate of nine per cent, according to [...]
Google searches for ‘remote jobs’ explode by more than 260 per cent as UK crippled by train strikes June 22, 2022 There has been an explosion in searches for ‘remote jobs’ in wake of recent train strikes by more than 260 per cent. New analysis of Google search engine figures show the term has been searched at the highest level in UK internet history. This is despite politicians such as Brexiteer Jacob Rees-Mogg and host of [...]
Starmer hits out at PM over speculation he will cut bankers’ bonus cap June 22, 2022 Sir Keir Starmer has accused Boris Johnson of “rolling over” and making plans to cut the cap on bankers’ bonuses, after reports suggesting the move is being considered in Number 10. Starmer said in Prime Minister’s Questions (PMQs) that Johnson’s “new approach” is “pay rises for bankers, pay cuts for district nurses”. Number 10 yesterday [...]
Sunak: BoE will ‘act forcefully’ on inflation and govt will ‘be responsible with borrowing and debt’ June 22, 2022 Rishi Sunak sought to reassure people following a 40-year high in UK inflation to 9.1 per cent, insisting the Bank of England will “act forcefully” to counter the rise. The BoE, which is independent of government, has been criticised for not being quick and decisive enough about rising costs of living, with members of the [...]
Raab: Pensioners need double-digit increase in payments, but striking rail workers don’t June 22, 2022 Dominic Raab has defended the government’s decision to hand out an inflation-linked increase in state pensions next year, while it rallies against similar wage rises for striking rail workers. The justice secretary said old age pensioners were in a “different position” to rail workers, because they were “disproportionately affected by the increase in energy costs [...]
1 Minute Market Rundown – 22nd June 2022 June 22, 2022 Powell in Focus Later TodayUK Inflation Prints as Expected But Still Very HighJPY Hits 24 Year Lows Risk did rally yesterday as suspected with the S&P posting a 2% gain over the day. Correspondingly, the USD sold off against both the EUR and GBP. Something to note is that the USD did not back off [...]
Another day, another record: Price of a litre of petrol hits new high of 189.3p June 22, 2022 The average price of a litre of petrol at UK forecourts reached a new high of 189.3p last night, according to data firm Experian. The average price of diesel was 197.1p per litre. The announcement comes only hours after the rate of inflation rose again in May, remaining at 40-year highs, the Office for National [...]