Energy boss revives social tariff push as winter pain looms June 19, 2023 The government needs to use data to provide targeted support for up to 10m households ahead of winter, reigniting calls for a social tariff.
Mayoral Election: Tory hopeful vows to extend Khan’s free school meals pledge June 18, 2023 Conservative mayoral candidate hopeful Susan Hall has pledged to extend the free school meals programme beyond 2024. The assembly member and former City Hall Tory leader said she would continue the scheme past the date it is set to expire under Sadiq Khan. She said: “While the cost of living situation remains difficult for so [...]
Energy bill support took too long to reach consumers most in need, MPs conclude June 16, 2023 Energy bill support took too long to reach those most in need and the government must protect consumers from future price hikes, say MPs.
European Central Bank hikes rates 25 basis points to 2001 and hints at more to come June 15, 2023 The European Central Bank (ECB) today signed off what many thought would be its final interest rate rise, but lingering concerns about high inflation may lure the monetary authority into further increases, experts have bet. The monetary authority of the 20 countries using the euro sent borrowing costs up 25 basis points to 3.5 per [...]
Pound hits highest level against US dollar in over a year as traders bet Bank of England will outmuscle Fed June 14, 2023 Pound sterling today climbed to its highest level against the US dollar in over a year, driven upwards by investors betting that the Bank of England will surpass the Federal Reserve in its interest rate rise cycle to bring down inflation. Britain’s currency jumped around 0.7 per cent today to nearly $1.27, taking it to [...]
Three million smart meters not working as intended as government rollout stalls June 14, 2023 The government is facing challenges in meeting its latest smart meter rollout targets as suppliers, warns the NAO.
Our approach to energy prices shows we want climate policies only if they’re free June 14, 2023 High energy prices could have been an incentive for companies to move to less energy intensive processes and for consumers to use less energy. The opposite happened, writes Paul Ormerod
E-bike explosions caused by dodgy batteries are ‘the fastest growing fire risk’ in London June 13, 2023 Dodgy batteries on e-bikes and scooters are the “fastest growing fire risk in the capital,” a top London Fire Brigade official has warned, as he joined calls for more regulation. Deputy Commissioner of London’s Fire Brigade Dom Ellis said that the force had been called out to 58 e-bike fires and 14 involving e-scooters this [...]
Bank of England to hoist interest rates to 5.75 per cent as experts warn UK inflation is out of control June 13, 2023 The Bank of England will have to hike interest rates to their highest level since July 2007, the eve of the financial crisis, in a sign that markets think the UK has the worst inflation problem in the rich world. Traders ratcheted up bets on how high Bank Governor Andrew Bailey and the rest of [...]
Wages jump at fastest pace outside of Covid-19 but inflation erodes finances for 18th straight month June 13, 2023 Workers in Britain have pocketed the largest pay increases on record outside of the Covid-19 pandemic, but inflation is still sharply eroding their finances, official figures out today reveals. Numbers from the Office for National Statistics (ONS) showed the average worker in the UK received a 7.2 per cent wage increase in the three months [...]