Government interest bill hits highest ever level for a January February 22, 2022 The government’s interest bill swelled to its level ever for a January since records began in the late 1990s as inflation burns a hole in the UK’s public finances. The amount the government spent on servicing its debt hit £6.1bn last month, up £4.5bn over the last year, according to the Office for National Statistics [...]
Behind the story: Sajid vs Rishi and the cost of test and trace February 22, 2022 In May 2020, NHS test and trace was set up with a budget of £22bn. A year later, they had been given an extra £15bn, totalling £37bn over two years. This astronomical scale of money ploughed into the contact tracing regime has been blasted from all sides of politics, especially after it largely failed to [...]
Public sector debt climbs to record £2.32 trillion: 94.9 per cent of Britain’s GDP February 22, 2022 Government borrowing hit a surplus of £2.9 billion in January, reversing a £2.5 billion deficit in the same month a year earlier, according to official figures published this morning. The Office for National Statistics (ONS) said public sector borrowing from the end of March to December was £138.5 billion – the second highest since records [...]
Rampant inflation to swell government’s interest bill once again February 20, 2022 Soaring inflation will swell the government’s interest bill to eye-watering levels, official figures released this week are expected to show. The cost of servicing the UK’s stock of debt has already broken several records in recent months, including hitting its highest ever level for a December at £8.1bn. Fresh figures published by the Office for [...]
Cabinet backs plans to clampdown on tech giants with strict new content laws February 19, 2022 Home office plans to roll out world’s most stringent internet safety laws have won the backing of the cabinet as the government looks to shift responsibility for harmful online content on to tech giants.
Brits brace for multi-pronged living standards crunch as inflation hits new 30-year high February 16, 2022 Brits will be hit by a multi-pronged squeeze on their living standards this year, economists are warning after new figures published today revealed inflation has climbed to a fresh 30-year high. A combination of accelerating price rises, tax hikes and higher interest rates will erode Brits’ finances at the worst rate since the late 1940s, [...]
Suppliers could be charged for luring new customers under fresh Ofgem intervention February 16, 2022 Energy suppliers could be forced to pay a levy when acquiring new customers, under freshly announced time-limited measures unveiled by Ofgem. The regulator has intervened further in the energy industry, with the introduction of the market stabilisation charge. It will mean that when suppliers attract customers from an existing energy firm, they will have to [...]
Museums struggle to get people through the door with visitors still 50 per cent lower than pre-pandemic February 16, 2022 The number of people visiting museums is still 50 per cent lower than pre-pandemic levels, as iconic sites struggle to get visitors back through the door. According to data from the Department for Digital, Culture, Music and Sport released today, there were a total of five million visits to the DCMS-sponsored museums and galleries between [...]
Inflation nears 30-year high as consumer price index climbs to 5.5 per cent February 16, 2022 UK inflation has remained at a near 30-year high after rising further in January as Britain remains in the grip of a tightening cost-of-living squeeze, according to official figures. The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation reached 5.5 per cent in January, up from 5.4 per cent in December and [...]
Letters: Will someone let the dogs out to get the Covid fraudsters? February 15, 2022 [Re: HMRC inertia to claw back stolen furlough money to leave taxpayers with £4bn bill, Feb11] The report that taxpayers will be forced to shoulder a £4bn burden as a result of HMRC failing to collect the money is frankly preposterous. Every time this is brought up Rishi Sunak claims it was as a result [...]