Are we heading for a global recession? June 29, 2022 Keith Wade, Chief Economist, discusses what central bankers’ next move might be, what markets are pricing in and what the probability of a recession is. People are worrying about a global recession and with good reason. But what if the factors driving rising prices are beyond the limits of policymakers’ control? The squeeze on living [...]
PwC to give 11,000 workers their biggest pay rise in a decade June 26, 2022 PwC is set to give around half of its UK workforce their biggest pay rise in a decade, in hiking around 11,000 of its workers base salaries. The accountancy firm is set to give a nine per cent pay rise to around half of its more than 22,000 staff – at a cost to [...]
Cocktail of problems plunge UK consumer confidence to record low June 24, 2022 A relentless cost of living crunch, the prospect of a recession and stagnant wage growth has driven British pessimism to new highs, reveals a closely watched survey published today. UK consumer confidence dropped to minus 41 points this month, down marginally from minus 40 in May, the lowest reading recorded by research firm GfK since [...]
Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
Use windfall tax to improve energy efficiency of British homes, argues climate charity Ashden June 16, 2022 The government should funnel revenues from the windfall tax into making the UK's housing stock more energy efficient, says Ashden.
Campaigners warn childcare costs holding back careers in the City and beyond June 13, 2022 CAMPAIGNERS have warned “uniquely high” childcare costs are holding back not just the City’s diversity drive but economic growth. A new study by union the TUC suggests the average nursery bill for a family with a toddler was just shy of £5,000 in 2010 but has grown to more than £7,000 just a dozen years [...]
Off-market property sales account for one in five in London: Is it for you? June 10, 2022 Despite ferocious headwinds, the London property market is fizzing, with estate agents from Wimbledon to Walthamstow seeing homes listed and sold within days. This fierce competition has led to a boom in off-market sales, which hit a new record high this year, according to Hamptons. In the first quarter of 2022 they shot up 23 [...]
Brits to be allowed to use housing benefits for a mortgage to buy their homes June 9, 2022 Allowing lower-paid workers to use housing benefits to buy their homes and an extension of the right to buy for housing association tenants should give Tory support a boost. Prime Minister Boris Johnson is expected to confirm his intentions in a major speech today as he seeks to repair his fortunes after a bruising Tory [...]
UK house price skyrockets to record £289k: ‘Any mutterings of a market crash are greatly exaggerated’ June 8, 2022 The average UK house price hit a record high of £289,099 in May, but the pace of growth in values is slowing, according to an index this morning. Russell Galley, managing director of Halifax, said: “The average cost of buying a home in the UK is up 1 per cent, or £2,857, on last month, [...]
UK cost of living crisis to tame runaway house prices, says Savills May 31, 2022 The UK’s cost of living crisis is expected to stunt house price growth for the rest of the year, according to estate agents Savills, taming property costs which continue to hit record levels. Affordability pressures will leave house prices no choice but to slow in their ascent, as property deals and mortgage approvals fall in [...]