Interventions have merit, but government mustn’t get hooked on meddling March 28, 2022 The drumbeat towards another Sunakian save-the-day package has begun, it seems. It is barely weeks since the Chancellor’s first energy market intervention, a devillishly complicated scheme of rebates and discounts to reduce the pain of higher energy prices. Russia’s invasion of Ukraine has now added further upward pressure on those same costs, and it is [...]
Soaring energy bills to drag on UK economy, new forecasts reveal March 28, 2022 Swelling energy bills are set to drag on the UK economy this year by sending a chill through household spending, reveals new research published today. Household energy bills will almost double in October even after rebates are handed out, according to new forecasts published by the EY Item Club today. The downbeat assessment adds to [...]
Sunak eyes another council tax rebate after poor response to his spring statement March 28, 2022 Rishi Sunak is considering a further council tax rebate for Brits struggling with the cost of living crisis, after his spring economic statement was met by a very poor response on Wednesday. The chancellor is reportedly now looking into offering a further multi-billion pound package to help people with soaring energy bills and other household [...]
Government plans to take stake in Sizewell C plant in nuclear push March 27, 2022 The government plans to snap up a 20 per cent stake in a major new nuclear plant in Suffolk as it scrambles to boost the country’s energy security amid soaring energy prices and war in Ukraine.
Zurich axes Z symbol after letter is adopted by pro-war groups March 27, 2022 Insurance giant Zurich has scrapped the use of its ‘Z’ logo from social media after the letter became appropriated as a symbol for support of war in Ukraine.
Weekend Read: HMRC launches more than 1,000 new probes every single day in attempt to recoup lost pandemic revenue March 26, 2022 HMRC has launched 137,000 tax investigations in the six months to December 2021, up 9 per cent from the 126,000 investigations in the same period last year, according to new data shared with City A.M. today. This amounts to the Revenue opening 1,062 tax investigations per day. HMRC is ramping up its compliance activity as [...]
Sunak wants to be a low-tax Tory but instead he’s following the US and picking winners March 25, 2022 When Frank Sinatra first uttered the words “the best is yet to come”, the UK’s fiscal strategy probably couldn’t have been further from his mind. But the words ring true after a spring statement that did little to make life any easier for those of us who make a living trying to read the Chancellor’s [...]
The City View: More Spring Statement analysis, and The Macallan’s Master Whisky Maker distills her craft March 24, 2022 Today Andy Silvester chats to Economics and Markets reporter Jack Barnett — they look back on yesterday’s Spring Statement; go through dire IFS figures; and discuss lack of growth in the UK economy. Andy also takes us through the business news: P&O are in even more hot water; and the CEO of convenience store operator [...]
Spring statement: Record fall in living standards under current parliament March 24, 2022 UK living standards will fall quicker over the course of this parliament than any other since records began, reveals fresh analysis released in the wake of chancellor Rishi Sunak’s spring statement. The typical non-retired household is forecasted to be two per cent worse off by the time of the next election in 2024, according to [...]
City A.M. Awards 2022: Insurance Company of the Year March 24, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]