2022: The year the UK economy soured December 23, 2022 Let’s not forget that inflation was already a problem heading into 2022. The final inflation reading of 2021 was for November and came in at 5.1 per cent, nearly three times higher than the Bank of England’s two per cent target and the highest level since September 2011, according to the Office for National Statistics [...]
Best London areas to live: From schools to roads and care, this is where council tax takes you the furthest December 21, 2022 As the cost of living crisis rages, energy bills are rising and inflation is biting harder than ever, the council tax rebate scheme was introduced to lift some burden off Brits’ shoulders. However, with it still a significant cost, where in London and across the UK are residents getting the most in return for their council tax? [...]
Government borrows record amount in November as debt bill swells December 21, 2022 Growing public sector expenditure in November prompted a £22.0 billion borrowing frenzy.
Government must outline support for businesses, urges leading energy supplier December 20, 2022 One of the UK’s leading energy suppliers has criticised the delay in outlining future support for businesses beyond next spring.
Shop ’till you drop: Christmas spending up despite rampant inflation December 20, 2022 Shopping habits die hard as Brits continue to spend across the board in the run-up to Christmas and the holiday season despite historic levels of inflation raising prices. Spending on essentials is up by an average of 43.5 per cent compared to the same time last year, with non-essential expenditure also rising by an average [...]
Workforce shrinkage risks roiling growth and embedding inflation December 20, 2022 A workforce squeezed by older Brits retiring earlier threatens to intensify inflation in the UK and whack economic growth, a new report out today claims. The some 565,000 people who have left the jobs market since the start of the Covid-19 crisis will drag on a UK economy that is already tumbling into an at [...]
Left in the dark: Business chiefs fear redundancies after energy relief update delayed December 20, 2022 Business leaders have accused the government of leaving firms in the dark over energy bill support, after ministers push back an announcement of what aid will be on offer later next year. The government had previously said it would update businesses before the end of the year on energy bill relief from April 2023, when [...]
As we move away from a risky dependency on fossil fuels, the City leads the way in shaping a safer green future December 19, 2022 With the arrival of winter’s first snow last week, there is a chill in the air and energy consumption across the UK is rising. The strain on energy use has been particularly acute for households and businesses this year. Russia’s invasion of Ukraine and post-pandemic supply chain struggles have driven soaring prices just at a [...]
Toshiba’s prospective buyer mulls reducing £13bn bid after weak earnings December 18, 2022 The prospective buyer of Toshiba is reportedly mulling the decision to lower its bid for the Japanese tech giant. Japan Industrial Partners (JIP) secured 2.2 trillion yen (£13.23bn) for Toshiba from four Japanese banks on Friday. However, local business newspaper Nikkei reported yesterday that Toshiba’s weaker than expected earnings may knock some value off the [...]
November sales down as online retail flops despite Black Friday December 16, 2022 Sales have slumped this November as Black Friday didn’t give online stores the boost it needed. Figures published today by the Office for National Statistics (ONS) show that retail sales volume contracted by 0.4 per cent following a 0.9 per cent rise in October. Online shops were hit the most as non-store retailing sales volumes [...]