The City View: Andrew Bailey’s energy shock warning, and farming shortages March 28, 2022 Today Andy Silvester chats to City A.M. reporters Elena Siniscalco and Jack Barnett. Jack discusses Andrew Bailey’s comments warning of the current energy shock being worse than that of the 1970s, and goes through Rishi Sunak’s somewhat incongruous remarks today at a Treasury Select Committee. Elena outlines the myriad of problems affecting farmers, supply chains, [...]
Sunak repeats tax cuts pledge despite playing down low-tax Chancellor image March 28, 2022 Rishi Sunak today reiterated his commitment to cutting taxes in the future, despite playing down claims he has styled himself as a low-tax Chancellor. Responding to a grilling by MPs on the cross-party Treasury Select Committee, Sunak said his “priority at this point forward is to keep cutting taxes, not to increase public spending”. However, [...]
Sunak says he is ‘prepared to act’ if energy bills soar again later this year March 28, 2022 Rishi Sunak has said he is “prepared to act” if energy prices continue to spiral out of control amid speculation he is ready to announce another multi-billion pound council tax rebate later this year. The chancellor told MPs on the Treasury Select Committee today that “It’s very difficult to sit here today and speculate on [...]
Sunak gives with one hand and takes with another to paint a positive veneer March 28, 2022 LAST week’s spring statement—the chancellor’s mini-budget, and a significant opportunity to lay out priorities and plans—was a big event for Rishi Sunak. While Covid cases persist and people are still dying, there is a broader feeling that the pandemic is now under control, and that the country can now think about moving into a post-virus [...]
Brits’ inflation expectations scale to record high March 28, 2022 Britons’ expectations of where inflation will land in a decade has climbed to the highest level ever, reveals a closely watched survey published today. Households think the rate of price rises will still be more than double the Bank of England’s two per cent target in 10 years’ time, running at 4.4 per cent, according [...]
Opinion-in-brief: A divided cabinet shows there is no quick energy fix March 28, 2022 Boris Johnson’s calls to ramp up wind and nuclear power reflect his desperation to shore up the security of the country’s energy supplies and his enthusiasm for the net zero agenda, but they also defy the deepening splits within his own cabinet. Downing Street and the Treasury are at loggerheads over the Prime Minister’s push [...]
Soaring energy bills to drag on UK economy, new forecasts reveal March 28, 2022 Swelling energy bills are set to drag on the UK economy this year by sending a chill through household spending, reveals new research published today. Household energy bills will almost double in October even after rebates are handed out, according to new forecasts published by the EY Item Club today. The downbeat assessment adds to [...]
Sunak eyes another council tax rebate after poor response to his spring statement March 28, 2022 Rishi Sunak is considering a further council tax rebate for Brits struggling with the cost of living crisis, after his spring economic statement was met by a very poor response on Wednesday. The chancellor is reportedly now looking into offering a further multi-billion pound package to help people with soaring energy bills and other household [...]
All eyes on Fujitsu as Post Office Horizon scandal leaves taxpayer with hefty compensation bill March 27, 2022 Pressure continues to mount on the Japanese IT giant Fujitsu to pay its share of compensation amid the ongoing Post Office public inquiry.
Ready to replace Boris: ‘Anxious’ Rishi Sunak fails three times to rule out Tory leadership run March 25, 2022 Chancellor Rishi Sunak failed three times to rule out that he could launch a leadership bid in the future. Speaking to Beth Rigby Interviews on Sky News, the Chancellor was asked whether he would go for the top job if the opportunity arises. He was read a quote from Boris Johnson, who said in 2013 [...]