UK economic headwinds cast shadow over Sunak’s cost of living support package May 24, 2022 A slowing UK economy will heap more pressure on the country’s finances, casting doubt over the scale of support chancellor Rishi Sunak will launch to help households through the cost of living crunch. That’s according to economists’ assessments of fresh borrowing figures published today by the Office for National Statistics (ONS). A combination of rising [...]
Public sector borrowing hit £18.6bn last month, fourth-highest April since 1993 May 24, 2022 Government borrowing stood at £18.6bn last month, down by £5.6bn from a year ago, but still the fourth highest April borrowing since records began in 1993, according to official figures. The Office for National Statistics (ONS) said this morning that, despite the fall, government borrowing was £7.9bn more than in April 2019 before the pandemic [...]
‘Brexit is a mistake and London will be damaged’ warns Sir Howard Davies as NatWest chair claims ‘Boris Johnson hates the Treasury May 23, 2022 SIr Howard Davies, the chairman of banking giant NatWest, has called Brexit ‘a significant mistake’ as the City grandee said he is not very optimistic about the future of the UK. In fact, Sir Howard said he is concerned about the long-term impact Brexit will have on the City of London. In an interview with [...]
Boris Johnson says new package to fight cost-of-living crisis is coming: ‘No option is off the table’ May 23, 2022 Prime Minister Boris Johnson said this afternoon that “no option is off the table” to deal with the rising cost of living but added “I’m not attracted, intrinsically, to new taxes” in response to pressure to introduce a windfall levy on oil and gas firms. Johnson insisted there would be further help to deal with [...]
Send poorest Brits a cheque and don’t hike corporation tax, George Osborne tells Rishi Sunak May 23, 2022 Former Chancellor of the Exchequer George Osborne is convinced a windfall tax is coming, despite the squabbling between Numbers 10 and 11, while also saying he would put a cheque in the post to the poorest families in the UK. Moreover, he disagrees with present Chancellor Rishi Sunak over the proposed rise in corporation tax. [...]
Windfall tax talk rattles Tories as Rishi Sunak reportedly backs the levy May 22, 2022 The prospect of a windfall tax on large energy firms has provoked a fierce Tory backlash, after it was revealed yesterday Rishi Sunak is in favour of a levy.
Sunak poised to give poorest households £5-7.5bn to deal with cost-of-living crunch, Deutsche Bank says May 22, 2022 Deutsche Bank has said it expects the UK’s Chancellor of the Exchequer Rishi Sunak will give £5-7.5bn in support to the UK’s poorest households to help them deal with the UK’s cost-of-living crisis. The chancellor could increase universal credit payments, give money to food banks, and help poor households pay for energy bills, in a [...]
Shareholders to vote on Shell’s climate plans at upcoming AGM amid activist pressure May 22, 2022 Shareholders will vote on Shell's climate transition at the AGM next week with activists putting the energy giant under pressure to ramp up climate targets.
Eni plans €2.5bn investment into UK energy sector as calls for windfall tax escalate May 22, 2022 Italian oil major Eni will spend at least €2.5bn in the UK over the next four years, amid growing calls for a windfall tax.
New habits can drive down energy bills suggest industry experts May 22, 2022 Behavioural changes could help drive down spiralling energy bills for struggling households this winter.