Cost of living crunch to derail UK economy in bruising day for living standards February 3, 2022 A double whammy of bad news today laid bare the scale of the blow the cost of living crisis will deal the British economic recovery, with the energy price cap set to spike by 54 per cent and GDP forecasts slashed by the Bank of England. Ratesetters at Threadneedle Street hiked the interest rate to [...]
Number 10 chaos: Boris Johnson’s communications aide quits February 3, 2022 Boris Johnson’s director of communications has quit this evening, just hours after his policy chief also left Downing Street. Jack Doyle, a well-respected former journalist who joined the Number 10 operation in 2020, has reportedly told friends he always planned to leave after two years. Doyle also told Downing Street staff that the departure had [...]
Consumer price cap hike reflects ‘severity of the crisis’ February 3, 2022 The "severity of the energy crisis" is now becoming a reality for 22m households, argued USwitch's Justina Miltienyte.
Households face painful hike in energy bills amid deepening cost of living crisis February 3, 2022 Households will suffer an eye-watering £700 hike to their energy bills this spring, after Ofgem raised the price cap by over 50 per cent.
Number 10 policy chief quits over Johnson’s Savile slur about Keir Starmer February 3, 2022 Number 10’s policy chief has resigned over Boris Johnson’s repeated accusations that Sir Keir Starmer chose not to prosecute Jimmy Savile when he was the director of public prosecutions. Munira Mirza yesterday in a letter to the PM said there was “no fair or reasonable basis for that assertion” and that she could no longer [...]
Shell CEO dismisses calls for windfall tax to reduce household energy bills February 3, 2022 Shell's chief executive Ben van Beurden has pushed back against rising calls for a windfall levy to ease the burden on energy consumers.
Chancellor Rishi Sunak no longer rules out Tory leadership bid if Boris Johnson is forced out February 3, 2022 Chancellor Rishi Sunak refused to rule out a leadership bid if Boris Johnson is forced out as he acknowledged the Government needed to rebuild trust after the “partygate” disclosures. Despite deepening disquiet in the Tory ranks, Sunak insisted the prospect of a leadership contest remained a “hypothetical situation” and that the Prime Minister had his [...]
Sunak unveils £9bn package to slash £350 off energy bills this year February 3, 2022 The “vast majority” of households will get government help on their energy bills to the tune of £350 to partially offset soaring prices as a part of a £9bn package announced by Rishi Sunak today. The announcement comes as Ofgem today announced an increase in the energy price cap from April, which will mean the [...]
Bank of England hikes rates at successive meetings for first time since 2004 February 3, 2022 The Bank of England today flexed its inflation fighting muscles and hiked interest rates at successive meetings for the first time since 2004. A majority of the Bank’s committee of rate setters voted to lift rates 25 basis points to 0.5 per cent. The consecutive rate hikes mark a sharp policy shift from Threadneedle Street [...]
Household energy bills to rise 54 per cent to nearly £2,000 per year February 3, 2022 Household energy bills will rise to £,1971 per year from April 1, after Ofgem announced its latest update to the consumer price cap.