We’re not reliving the 1970s yet, but today’s decisions will keep us out or drag us back June 22, 2022 In the current wave of discontent, rail unions, along with teachers, NHS and other public sector unions, are asking for increases which match inflation. They are still, just about, in single figures and a long way from the 20 per cent-plus of 1975. But only eighteen months previously, at the end of 1973, inflation had still been in high single figures.
Parliamentary body hammers Ofgem for £2.7bn clean-up bill to fix crisis-hit energy sector June 22, 2022 British households face an eye-watering £2.7bn clean-up bill following market carnage across the energy sector warned regulator Ofgem.
Bank of England’s chief economist Pill sees more rate hikes down the line June 21, 2022 Further rate hikes will be needed to tame the worst inflation crunch in a generation, the Bank of England’s top wonk said today. Huw Pill, who succeeded Andy Haldane as the Bank’s chief economist last September, said at an Institute of Chartered Accountants in England and Wales event that in his view, getting inflation back [...]
Aviation leaders optimistic about future of industry June 21, 2022 The aviation industry is set to recover soon from ongoing labour shortage and travel chaos issues, according to aviation leaders. Willie Walsh – former boss of BA’s parent company IAG and now at the helm of the International Air Transport Association (IATA) – argued that while some airlines will need to adjust capacity forecasts, not [...]
Household energy bills to hit £3,000 per year in the depths of winter June 21, 2022 Energy bills will spike to over £3,000 per year next January, putting more pressure on cash-squeezed Brits in the coldest month of the year.
British factories pare back price hike intentions on cooling demand June 21, 2022 British factories’ are paring back their expectations of price hikes in a sign that inflation may be beginning to ease, reveals a closely watched survey published today. The proportion of manufacturers planning to raise prices over the next three months fell to 58 per cent in June, the lowest level since September and down from [...]
Public sector workers’ pay growth lags private staff June 21, 2022 Public sector pay growth is lagging behind wage rises in the private sector, a closely watched survey published today reveals. Brits employed by taxpayer funded services such as the NHS and schools received an average pay rise of 1.4 per cent over the last year, compared to a three per cent bump for those working [...]
An online sales tax would be a small hassle for Amazon, but a hard blow for our shops June 21, 2022 The Treasury is considering whether to introduce an online sales tax (OST) as a “means to rebalance the taxation of the retail sector between online and in-store retail”. A decision is expected in autumn – probably as part of the Chancellor’s Budget. If the government has any sense, it will run a mile from taking [...]
Half-life crisis: Can Sizewell C revive the UK’s nuclear ambitions? June 20, 2022 The hovercraft, radar, Sutton Hoo treasure…Ed Sheeran - Suffolk has a colourful track record of innovation and discovery.
Rates will need to rise faster to prevent sticky inflation, BoE official warns June 20, 2022 Interest rates will need to rise faster to stop inflation from being “embedded” in the UK economy over the long-run, a top Bank of England official warned today. Catherine Mann, a member of the Bank’s nine-strong rate setting committee, said “a robust policy move… reduces the risk that domestic inflation already embedded is further boosted [...]