Cost of filling up average family car shoots to £100 for first time June 9, 2022 The cost of filling up the average 55-litre family car has shot to £100 for the first time ever. According to data released today by Experian Catalist, petrol prices have reached an all-time record of 182.3p, going up by 1.6p from Tuesday, while diesel increased by 2.9p to 188.1p. Commenting on the increase, RAC fuel [...]
Cutting taxes without reshaping state is ‘challenging’ task, former BoE chief economist says June 8, 2022 The scope to cut taxes without worsening the standard of public services delivered by the state is limited, according to one of the UK’s top economic wonks. Professor Sir Charlie Bean, 68, told Nick Ferrari’s LBC breakfast show today that it will be “challenging… to sustain significantly lower taxes” without reshaping “what the state does”. [...]
UK to clock weakest growth in rich world amid economic ‘stagnation’ June 8, 2022 The UK will clock the weakest growth in the rich world caused by households retrenching amid the worst cost of living crisis in a generation, according to new forecasts released today. Rampant inflation driven by accelerating global energy prices as a result of Russia’s invasion of Ukraine and ongoing supply chain disruptions caused by China’s [...]
Number 10 renews threat to petrol retailers who don’t pass on fuel duty cut June 8, 2022 Downing Street has renewed threats to name and shame petrol retailers not handing on a 5p cut in fuel duty to customers as UK prices reach almost £2 a litre. Boris Johnson’s spokesman today said the government wants this year’s fuel duty cut to be “passed on at all sites and petrol stations”, but that [...]
Healthcare jaws drop as Sajid Javid calls NHS ‘a defunct Blockbuster video rental store in the age of Netflix’ June 8, 2022 Jaws dropped in and outside Westminster today after the Health Secretary likened the NHS to a now-defunct video rental store in a world dominated by streaming services, saying the country has a “Blockbuster healthcare system in the age of Netflix”. Downing Street said Sajid Javid told a Cabinet meeting earlier today that it is “no [...]
‘We will set out tax cuts this autumn’ promises Rishi Sunak after Boris Johnson appeases angry Tory rebels June 8, 2022 As the Government seeks to get back on track following Monday’s bruising Tory confidence vote in Boris Johnson, Chancellor Rishi Sunak has reaffirmed his commitment to cut taxes for business later in the year. In a speech to the Onward think tank, Mr Sunak said he would be bringing forward a range of measures in [...]
A windfall tax raised by a money-hungry government will scare off our businesses June 8, 2022 Rishi Sunak’s windfall tax on energy firms – what he called a “temporary targeted profits levy” – has gone down well with voters. The tax makes it look like money is raised from someone else and given to them through subsidies to their bills. Despite claims that the tax will yield an additional £5bn in [...]
Oil prices could take seven years to calm down, warn industry experts June 7, 2022 Oil prices could take seven years to return to normal levels, warned energy analysts, reducing the prospect of the windfall tax being lifted early.
Wounded Boris Johnson to call emergency Cabinet meeting as Tory rebels refuse to back down after worse-than-May vote June 7, 2022 It is understood Prime Minister Boris Johnson plans to call his Cabinet together this morning as the embattled Tory leader seeks to keep his premiership afloat by putting a bruising confidence ballot firmly behind him. The Prime Minister insisted he had secured a “decisive” victory despite 148 of his own MPs voting to oust him [...]
City’s influence over Westminster: £17.5m spent political parties and MPs since 2020 June 7, 2022 The influence of the City over Westminster has come into sharp focus this week, after a report £17.5m was spend by big banks on MPs and political parties since 2020. Almost 50 MPs received an average of £49,000 from the City – despite 26 of them registering not a single hour of work in return. [...]