Hunt readies for biggest budget since Cameron and Osborne’s first outing November 15, 2022 Thursday’s budget (okay, Autumn Statement) is the biggest since David Cameron and George Osborne’s first statement in 2010, just after they seized the keys to number 10 (with a little help from the Liberal Democrats) from Gordon Brown’s Labour. Chancellor Jeremy Hunt faces a daunting task. Weaker than expected economic growth, high inflation and a [...]
Inflation has peaked, but prices will stay higher for longer, analyst bets November 14, 2022 Inflation has peaked in the UK, but will take a long time to fall, a top investment bank has bet. New data out from the Office for National Statistics on Wednesday will show prices rose 10.9 per cent over the last year, according to Deutsche Bank. While above September’s 10.1 per cent reading and a [...]
Many Brits to turn off Christmas lights in bid to save energy November 14, 2022 Christmas is set to be a bit less sparkly this year with a massive upsurge in Brits not putting up Christmas lights to save energy. The soaring cost of electricity means 16 per cent of UK households will avoid plugging in fairy lights on their tree and across their house, which light up many streets [...]
Windfall tax hike risks no new investment in North Sea, warns analyst November 14, 2022 The UK risks no new investment in the North Sea oil and gas sector, if the Government toughens up the windfall tax, warns Stifel.
Insulating homes could cut gas imports more than North Sea drilling, says green body November 14, 2022 Insulating the UK's entire housing stock could reduce gas demand by 20 per cent according to new research from the ECIU.
Businesses call on Chancellor to boost regional growth by investing in tourism November 14, 2022 Businesses have called on Chancellor Jeremy Hunt to boost regional growth by investing in travel and tourism. Advocacy group BusinessLDN has called for the reintroduction of VAT-free shopping for international arrivals, as well as ramping up Border Force personnel to speed up queues at airports and ease visa processes for low-risk visitors such as children. [...]
Hunt warns of tax hikes for everyone in fiscal statement November 13, 2022 Jeremy Hunt has warned that tax will rise for everyone in his autumn statement next week, while promising the most vulnerable will be protected. The chancellor said the government “will be asking everyone for sacrifices” but that there is “only so much we can ask” from low income workers. Hunt is expected to raise between [...]
Ofgem must review supplier of last resort process, says Westminster body November 13, 2022 The administration process for suppliers has to be reviewed, with households set to foot a £2.7bn bill to clean up the energy market.
Exclusive: North Sea firms urge Government to protect investment relief as windfall tax hike looms November 12, 2022 North Sea oil and gas producers are urging Government to ensure investment relief is continued in line with any windfall tax expansion.
Windfall tax makes no sense for renewables, says Cornwall Insight November 12, 2022 It would be disproportionate to expand the windfall tax to electricity generators, argued Cornwall Insight, amid a commodities boom.