We must not put a salami slicer to our public services in a bid to balance the books October 27, 2022 Our country is deeply in debt, with a deficit that is viewed by the markets as on an unsustainable path. The mini-budget and the subsequent reaction from the markets have undoubtedly made the situation significantly more challenging. The new prime minister must now seize the opportunity to restore fiscal credibility. Both unfunded tax cuts and [...]
Start-ups look to debt after VCs ‘lost discipline’, says Silicon Valley Bank chief October 26, 2022 UK start-ups are leaning on debt to fuel their growth this year as venture capital investors are buffeted by a downturn, having “lost discipline” in a funding frenzy last year, the UK chief of Silicon Valley Bank has said.
Businesses’ ask for the next budget? Make a decision and stick with it, for all our sakes October 26, 2022 Taxes will have to go up and spending down – to the tune of some £40bn on top of what has already been announced by the Chancellor, Jeremy Hunt.
Backing the central bank pivot is a risky bet October 25, 2022 It is easy to criticise central banks for heaping pain on households and businesses. But, this is exactly what they are supposed to do under current economic conditions. Inflation in the UK, US and eurozone has hit 10.1 per cent, 8.2 per cent and 9.9 per cent respectively, all historic highs. The Bank of England [...]
More households fall onto prepayment meters as energy crisis bites October 25, 2022 The energy crisis has pushed more households onto prepayment meters, according to new research from USwitch.
Falling yields take edge off UK borrowing costs but City’s eyes are on Rishi Sunak October 25, 2022 The rebound seen over the course of the last couple of days appears to be being driven by a sharp fall in bond yields, at least in European markets with the sharp drop in UK gilt yields marking the unwind in premium that we saw in the aftermath of the market turmoil post the UK [...]
Range of 30 low-cost items increase in price by 17 per cent in last year – ONS October 25, 2022 A range of 30 every-day low-cost items have increased in price by 17 per cent in the last year, new figures have revealed. Data from the Office for National Statistics show a range of products went up considerably over the 12 months to September, as the cost of living continues to bite. Items including vegetable [...]
A blank cheque for two years of capped energy bills was a perverse kind of plan October 25, 2022 It was always perverse to ask the taxpayer to write a blank cheque for two years as part of the energy support package and ignore the huge potential gains in increasing our energy efficiency.
This is a global, not a UK specific, economic slowdown October 24, 2022 Much attention has been devoted to the comings and goings at Number 10 Downing Street and the ailing economy in recent weeks, but the UK is not alone in wilting under the weight of soaring prices and interest rates. The eurozone economy, made up of the 19 countries that use the euro, is on course [...]
Gas prices slide to five-month lows as supply fears ease October 24, 2022 Gas prices have dropped below €100 per megawatt-hour for the first time since June, weighed down by cold weather and LNG imports.