Housebuilders facing extra £3.2bn in construction costs this year as prices spiral February 16, 2022 UK housebuilders could face paying the hefty extra sum of £3.2bn per year as new-build construction costs are set to skyrocket. The average cost of construction for a new-build property is set to rise almost £18,000 per unit, research from property debt adviser Sirius Property Finance has revealed. Construction costs across the industry could total [...]
British factories hike prices rapidly to protect margins February 16, 2022 British factories are hiking prices for goods rapidly in a bid to offset swelling raw material costs, reveals official figures released today. Prices charged by manufacturers accelerated 9.9 per cent in the year to January, up from 9.3 per cent in December, according to the Office for National Statistics (ONS). Soaring oil prices driven by [...]
Starmer says entitled to ask for pay rise in rebuke of Bank of England February 16, 2022 Workers have every right to ask for a pay rise amid the UK’s surging inflation rate and cost of living crunch, Labour leader Sir Keir Starmer has said. In a direct rebuke of comments made by Bank of England governor Andrew Bailey, the Labour leader said “it’s very difficult to universally say” to workers that [...]
Bank of England to look through weaker growth and send rates to financial crisis levels February 16, 2022 The Bank of England will look through weaker than expected economic growth this year and send interest rates to levels not seen since the financial crisis, experts are betting. Zeroing in on eradicating rampant inflation in the UK at the expense of providing a floor for the economy will drive the Bank to launch the [...]
Heineken warns drinkers could cut back on beer as it prepares to hike prices February 16, 2022 Heineken has warned today that drinkers could cut back on beer as it prepares to hike its prices to offset soaring costs.
Soaring costs expected to drive people to putting homes on Airbnb February 16, 2022 Holiday rental platform Airbnb has said it anticipates bookings to hit pre-pandemic levels for the first time in the current quarter as Covid fears ease. The number of nights booked in cities in the last three months of 2021 neared 2019 levels, it said in results. The pressure of rising costs would influence individuals to [...]
Inflation nears 30-year high as consumer price index climbs to 5.5 per cent February 16, 2022 UK inflation has remained at a near 30-year high after rising further in January as Britain remains in the grip of a tightening cost-of-living squeeze, according to official figures. The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation reached 5.5 per cent in January, up from 5.4 per cent in December and [...]
As the energy crisis hits pockets, we need to protect our future economy February 16, 2022 Against the backdrop of the cost of living crisis, there is a growing vocal minority in the Conservative Party calling for the Prime Minister to slow down on decarbonising the British economy. The Net Zero Scrutiny Group of backbench MPs in parliament have started to grumble that the government’s net zero plans will cost too [...]
SMEs to bolster employee numbers in face of rising inflation and energy costs February 16, 2022 UK SMEs are looking to bolster their employee numbers in the face of rising inflation and energy costs, according to new research today. Small and medium-sized businesses have tabled plans to hire around six newbies, on average, in the first quarter of this year, Barclaycard Payments’ SME Barometer has revealed, with 40 per cent looking [...]
Automotive industry calls for new regulator to govern EV charge point mandate February 16, 2022 The UK automotive industry is lobbying for an independent regulator called Ofcharge to govern the mandate of electric vehicle (EV) charge points. The sector released today a seven-point plan to ensure UK drivers benefit from an affordable and available EV charging network, working alongside the government and other stakeholders to establish mandated targets for infrastructure [...]