Cost of living crisis: Millions of savers miss out as UK banks pocket profits from higher interest rates January 10, 2022 The UK’s major banks have failed to pass on last month’s interest rate rise to millions of savers, according to Moneyfacts.
Britain’s financial future needs catch-up plan for young workers January 10, 2022 If lockdowns have taught us anything, it’s not to underestimate the power of a holiday. Two weeks on the beach feels like a valuable reward after two years of mentally draining restrictions. It is not surprising that travel companies are reporting an uptick in the booking of ‘big’ holidays. Part of that, of course, is [...]
Restaurant groups suffer £673m in losses as bosses call for tax relief January 10, 2022 The country’s top restaurant groups saw losses skyrocket in a year, hitting £673m, as bosses have called for more cash to help ailing venues. The top 100 groups saw losses increase 174 per cent in the year to the end of September 2021, according to an analysis of company accounts by accountancy firm UHY Hacker [...]
Sunak: Britain poised to unlock well of untapped digital innovation January 9, 2022 BRITAIN is set to unleash a wave of economic growth by unlocking a well of untapped digital innovation, according to Chancellor Rishi Sunak. Fast growing startups and fintech firms are poised to propel the UK economy into a new digital age. “The digital economy… is a huge opportunity for us. We have one of the [...]
David Frost tells PM to adopt more conservative policies or risk losing election January 9, 2022 Boris Johnson must adopt a low-tax agenda or risk losing the next election, according to former cabinet minister Lord David Frost. Frost, who resigned from his role as a Cabinet Office minister last month, said that Johnson needs to “get the country going economically again” post-Brexit and “that means free markets, free debate and low [...]
Just 12 tower blocks see dangerous cladding removed through £5bn fund January 7, 2022 Just 12 buildings have had dangerous cladding removed with the aid of a £5bn government fund, which was created to fix thousands of risky tower blocks. The Building Safety Fund was created in 2020 to help residents of blocks more than 18 metres tall with the removal of a certain type of hazardous cladding. Some [...]
Freezing personal allowance and higher rate tax rates will push 1.2m Brits over 40 per cent tax threshold January 7, 2022 New research shared with City A.M. this morning shows that over one million more people will pay a higher tax rate by 2026. The analysis by the House of Commons Library – first published in The Daily Telegraph – says around 1.2m additional workers will find their earnings going over the 40 per cent tax [...]
Sunak recommits to April National Insurance rise amid cabinet jitters January 6, 2022 Rishi Sunak has today recommitted to April’s National Insurance rise, after it was reported that he faced cabinet backlash over the measure this week. Sunak said today the tax rise is needed to deal with “an unprecedented level of backlogs within the NHS”, after it was reported that House of Commons leader Jacob Rees-Mogg called [...]
USwitch urges government to offer more support to households amid soaring energy costs January 6, 2022 USwitch has called on the government to support vulnerable households following reports the price cap will rise to £2,000 next April.
Which direction will the UK’s economic weather vane blow in 2022? January 6, 2022 It’s fair to say the last two years have been a turbulent one for the UK economy. The pandemic has upended working practices, supply chains and the monetary policy playbook. With the emergence of the Omicron variant leaving the spectre of coronavirus hanging over the country, it’s fair to say the British economy is not [...]