Windfall tax would jeopardise North Sea investments argues UK’s offshore energy body May 18, 2022 The UK's leading offshore energy body has warned Kwasi Kwarteng that a windfall tax could undermine stability in the oil and gas sector.
Back to the ’80s? Rishi should borrow from the playbook May 18, 2022 An embattled Tory Prime Minister hunkered down in Westminster. A cost of living crisis becoming the defining issue of the political age. Unions plotting strike action. The similarities between 1982 and 2022 are eerie, and they don’t even stop there: it was that year that a promising England team headed off to a World Cup [...]
The City View: Inflation hits 9%, and why companies should put consumers first May 18, 2022 Today Andy Silvester talks to Professor Seán Meehan from the IMD School of Management. They discuss the importance of customer centricity, and go through how companies can integrate consumer-first practices. Listen to his IMD Management podcast here. Andy also talks to City A.M.’s Andy also talks to City A.M.’s Economics and Markets reporter Jack Barnett. [...]
PMQs: Boris Johnson deflects on windfall tax as Starmer teases him on an ‘inevitable u-turn’ May 18, 2022 Boris Johnson has been accused of dithering on a windfall tax by Keir Starmer during Prime Minister’s Questions, as the leader of the opposition said he would do an ‘inevitable u-turn’ on the issue. The PM refused to be drawn on whether he supported the one-off tax, with Starmer highlighting Rishi Sunak’s comments to the [...]
Petrol prices spiral to record highs putting more pressure on motorists May 18, 2022 Diesel and petrol prices climbed to record highs yesterday, putting more pressure on squeezed motorists as the cost-of-living crisis deepens.
Bank of England to launch brisk rate hike cycle to tame 40-year high inflation May 18, 2022 The Bank of England will have to launch a cycle of steeper and quicker rate hikes to tame the steepest rise in living costs in four decades, according to City economists. The case for front-loading rate rises is strengthening after new figures published this morning by the Office for National Statistics (ONS) revealed inflation climbed [...]
Starmer calls windfall tax ‘inevitable’ as Tories show signs of wobbling over the levy May 18, 2022 Internal government polling has found support for a windfall tax on the profits of energy firms is “wildly” popular..
Liz Truss plays down calls for windfall tax May 18, 2022 Foreign secretary Liz Truss has played down calls for a windfall tax on energy firms, saying “we need to attract investment”, and a tax would be a deterrent. Speaking on Sky News this morning, she appeared to be at odds with calls made by the Chancellor Rishi Sunak yesterday, who said nothing was off the [...]
Andrew Bailey is putting the Bank’s independence at risk if he wavers on inflation May 18, 2022 Andrew Bailey’s ability to steer monetary policy through the inflation crisis will determine the Bank’s future strength
Windfall tax not ruled out as Sunak urges energy giants to invest in UK energy sector May 18, 2022 Chancellor Rishi Sunak refused to rule out a windfall tax on energy companies yesterday, warning that “no option is off the table."