Exclusive: Energy giants urge struggling customers to get in touch ahead of winter August 9, 2022 Some of the biggest energy firms have encouraged worried customers to make contact with them as soon possible.
Freezing green levies won’t relieve pressure on bills but we must make them equal August 9, 2022 The cost of living crisis has continued to be a major worry for people across the country and a key talking point during the Conservative leadership race. Rising energy prices, partly due to the Russian invasion of Ukraine, have significantly fuelled the crisis. As the energy price cap is expected to rise to over £3,300 [...]
High street names including Tesco and Greggs call on Tory leadership candidates to slash ‘shop tax’ August 9, 2022 A coalition of retailers including Morrisons, Greggs and Tesco, have called on the Conservative party leader candidates to slash business rates. The Retail Jobs Alliance has called on both Rishi Sunak and Liz Truss to pledge to cut business rates, which it said were “killing our high streets”. The group, consisting of Co-op, Greggs, Kingfisher, [...]
BoE’s Bailey and co are gloomiest central bank forecasters in history, according to Goldman Sachs August 8, 2022 “No central bank has ever published as negative an economic forecast” as the Bank of England did last week, according to a top Wall Street bank. Governor Andrew Bailey and co’s prediction that the UK will tip into the longest recession since the financial crisis at the end of this year is the gloomiest of [...]
City of London workers lead wage growth as pay inequality worsens in UK August 8, 2022 Only the UK’s highest earners have been given inflation-busting pay rises so far this year, as the country’s lowest earners see pay growth ‘flatline’, according to the latest research. The highest earners, typically concentrated in the City of London among finance, professional and technical sectors, have seen annual pay growth of 10 per cent, while [...]
Sunak says Truss’ cost of living plan ‘won’t touch the sides’ August 8, 2022 Rishi Sunak has launched a fresh attack on leadership rival Liz Truss, saying today that her plan to make tax cuts next month won’t “touch the sides” for families facing a worsening cost of living crisis. Sunak said “bolder action” was required to “protect people from the worst of the winter” amid fresh predictions energy [...]
Joules confirms talks with Next about retail giant acquiring £15m minority stake August 8, 2022 Joules has confirmed weekend speculation that Next is set to acquire a minority stake in the lifestyle retailer for around £15m. Sky News reported at the weekend that the high street staple had been in talks with Joules for several weeks over a deal. Now, Joules has confirmed these discussions are taking place, with talks [...]
Steaming US jobs market raises risk of another jumbo Fed rate hike August 7, 2022 The US jobs market is still steaming despite the world’s biggest economy wobbling under the weight of soaring inflation and higher interest rates, figures published last week showed. America added 528,000 jobs in July, pushing the unemployment rate down to 3.5 per cent, below pre Covid-19 levels, according to data from the US Labor Department. [...]
Truss hasn’t ruled out emergency cash payments, says ally Penny Mordaunt August 7, 2022 Liz Truss has not ruled out giving Brits cash payments later this year to combat the cost of living crunch, Penny Mordaunt has said. The senior Truss ally, and fallen leadership contender, today said that people had been “overinterpreting” comments made by the foreign secretary this weekend about her policy plans. Truss told the Financial [...]
Tory leadership: Truss and Sunak pledge cost of living help worth billions August 7, 2022 Rishi Sunak and Liz Truss have pledged billions of pounds worth of cost of living help as Britons face down further inflation increases. Truss, the frontrunner to be the next Prime Minister, told The Telegraph she would rush through £30bn+ in tax cuts months earlier than planned to combat the expected increases in inflation in [...]