Bulb bailout set to balloon to £4bn by April August 22, 2022 The cost of bailing out energy supplier Bulb Energy could balloon to £4bn by April unless it can be sold sooner. Bulb became the first energy firm to fall into special administration last November, as it struggled with spiralling wholesale costs and the constraints of the energy price cap. But Bulb is currently gobbling up [...]
Inflation has pushed the political vibes into depths Friedman cannot reach August 22, 2022 We are experiencing the politics of feelings, of “vibes”. These may not adhere to strict logic but their power should not be underestimated.
London faces higher inflation than rest of UK, new figures show August 22, 2022 Astronomical renting costs in the capital have led to a higher inflation rate in London than the rest of the UK, according to new figures released by City Hall. The figures show underlying inflation has been 1.5 per cent higher in London than the rest of the country over the past six months, after annual [...]
Weekend Read: Is Britain headed for a summer recession? August 21, 2022 Britain has met the first half of the technical recession definition, meaning there is a small chance we are headed for a summer recession. The Bank of England thinks the country will tip into the longest recession since the financial crisis in the final three months of this year. Figures published last week by the [...]
Truss vows to slash taxes for SMEs and to unleash ‘business revolution’ August 21, 2022 Liz Truss has promised to slash taxes for British SMEs and unleash a “business revolution” in the UK if she is crowned Prime Minister next month. Truss said that her government would “back business to deliver” and “stop putting so much red tape, so much tax on business”. The foreign secretary told The Sun On [...]
Soaring energy bills could plunge Britain into a ‘humanitarian crisis,’ NHS leaders warn August 19, 2022 NHS leaders have warned that soaring energy bills could plunge the UK into a “humanitarian crisis” by driving a surge in hospital admissions. The heads of NHS trusts in England, Wales and Northern Ireland called on the government limit price hikes and offer greater financial support to prevent a “public health emergency”. The NHS chiefs [...]
Tube strike brings London to a standstill as Uber raises prices due to increased demand August 19, 2022 London has been paralysed by a strike from workers on the Underground, Overground and bus service, as private hire taxi services like Uber and Bolt raise prices due to increased demand. All London Underground lines are closed on Friday 19 August following a walk-out called by around 10,000 members of the RMT Union on the [...]
UK retail sales recover with the lure of summer promotion deals despite inflation August 19, 2022 Retail sales have recovered since June, as penny pinching Brits seek to navigate worsening inflation, according to official figures today. Around three quarters of adults have said they are very or somewhat worried about the rising costs of living in the past two weeks, according to a separate poll by the ONS. Sales, carried by [...]
Dire economy drags UK consumer confidence down to lowest level ever August 19, 2022 “Exasperation” with the plight of the UK economy has eroded consumer confidence to the lowest level ever, reveals a closely watched survey published today. Households are being downtrodden by a string of bleak economic news, uncertainty over how they will cope with sky-high energy bills during the winter months and sharp fall in spending power. [...]
Ofgem places the cost of supplier failures on to standing charges August 18, 2022 Ofgem has opted against shifting the costs of supplier failures to unit rates, and has instead kept them on standing charges.