Watchdog confirms review of petrol market as record prices put pressure on drivers June 13, 2022 The UK's competition watchdog has announced it will undertake a review into petrol station pricing, after a week of pain at the pumps.
Johnson says income tax cuts will only come after inflation falls June 13, 2022 Boris Johnson has said he will only bring in promised income tax cuts after the UK’s current bout of inflation has weakened. The Prime Minister today said the government wants to cut taxes “as fast as we can”, but that the priority is taming an “inflationary spike that we need to get through right now”. Johnson [...]
Unexpected economic reversal indicates UK is ‘perilously close to a recession’ June 13, 2022 An unexpected reversal in the UK economy indicates the country is “perilously close to a recession,” according to City economists. Gross domestic product (GDP) in the UK fell 0.3 per cent in April, marking the second month in a row the economy has shrunk, according to figures published today by the Office for National Statistics [...]
The Conservative Party under Johnson has given up its devotion to freedom June 13, 2022 It was country music legend Toby Keith who observed that “Freedom don’t come free”. Nevertheless, when the Conservative Party adopted the Manchester liberalism of Margaret Thatcher nearly 50 years ago, it was willing to pay the price. Freedom, in all its forms, became a touchstone of the Conservative brand, pursued not only for its beneficial [...]
CBI: Government must act now on economy to prevent recession June 13, 2022 Urgent action is needed from the government to revive growth otherwise the UK will plunge into a recession. That’s the warning today from the Confederation of British Industry (CBI), the country’s biggest business group. Without a fresh package of measures before the summer parliamentary recess to boost business confidence, a recession will be “a very [...]
SSE warns Sunak against expanding windfall tax to electricity generators June 12, 2022 SSE chief executive Alistair Phillips-Davies has warned the Chancellor Rishi Sunak against extending the windfall tax to electricity generators.
Kwarteng orders review of petrol retail market to ensure fuel duty cuts are passed on to consumers June 12, 2022 Business Secretary Kwasi Kwarteng has ordered the market watchdog to conduct an "urgent review" of the petrol market.
Octopus Energy locks horns with Centrica over market reforms as bidding war for Bulb lights up June 12, 2022 Two of the UK's biggest energy firms remain at loggerheads over key proposals to fix the industry by ringfencing customer balances.
Octopus enters race for collapsed supplier Bulb with eleventh hour bid June 11, 2022 Octopus Energy has made a last minute offer for Bulb Energy, establishing a three-way tussle for the UK’s seventh biggest energy supplier.
Slashing taxes on fuel would half the cost of filling up a car June 10, 2022 The cost of filling up a car in the UK would be nearly half the price if all taxes on fuel were scrapped, reveals analysis shared exclusively with City A.M. Nearly 50p of every £1 spent on filling up a car in the UK is swallowed up by tax, according to research by the TaxPayers’ [...]