Cost of living squeeze deals financial crisis level blow to Brits’ optimism April 4, 2022 Brits’ optimism is eroding at the fastest pace since the financial crisis amid the tightest cost of living squeeze in a generation, reveals a closely watched survey released today. A combination of inflation scaling to its highest rate in three decades, tax hikes, swelling energy bills and weak wage growth have bound together to deal [...]
Household energy bills could rise £600 this winter April 3, 2022 Household energy bills could rise over £600 this winter, warns energy specialists Cornwall Insight as the cost of living crisis worsens.
Asda chair hammers government for ‘tin eared’ response to cost of living crisis April 3, 2022 The government has delivered a “tin-eared and slow” response to the UK’s cost of living crisis, according to the chair of Asda. Tory peer Lord Stuart Rose said chancellor Rishi Sunak should put together a new package to ease the pain of soaring costs for households, adding that “the main problem that the government has [...]
What cost of living crisis? MPs give themselves a pay rise of nearly 3 per cent to £84,144 April 1, 2022 MPs’ salaries rise to £84,144 from today, up by 2.7 per cent, after the Independent Parliamentary Standards Authority (IPSA) announced last month that their pay would go up for the first time in two years. But it comes on the same day that the biggest jump in domestic energy bills in living memory has come [...]
Bloody Friday as cost of living onslaught starts for millions: Steepest rise in household bills in living memory begins today April 1, 2022 Today has been dubbed National Price Hike Day, when government bodies and private firms traditionally announce the increases in the cost of goods and services. This year, energy costs are set to skyrocket, with the cheapest energy tariff for a medium user surging to £1,971 – a staggering 118 per cent increase year on year. The [...]
Euro zone inflation hits record 7.5 per cent as slowing growth puts pressure on ECB April 1, 2022 Inflation in the Euro zone soared to almost four times the European Central Bank’s target, registering at a record 7.5 per cent last month. European countries faced the prospect of slowing growth and rising costs, with the war in Ukraine continuing to put renewed pressure on gas and energy prices. The EU’s package of sanctions [...]
Growth in UK manufacturing sector plummets to 13-month lows April 1, 2022 Growth in the UK’s manufacturing sector has plunged to its lowest levels in more than a year, due to the impacts of soaring inflation, supply shortages, and the war in Ukraine. The rate of expansion in the UK’s manufacturing sector has dropped to its lowest levels in 13 months, according to S&P Global’s Purchasing Managers [...]
Starmer brands Tory response to rising cost of living ‘pathetic’ as windfall tax on energy firms rekindled April 1, 2022 Boris Johnson’s government’s response to energy price rises has been “pathetic”, as he rekindled Labour’s bid for a one-off windfall tax on oil and gas firms in a bid to reduce bills. This comes after millions of households were plunged into fuel poverty today caused by the uplift to the cap on energy bills sending [...]
Protestors block exits to seven oil facilities in bid for no-new-oil pledge April 1, 2022 Campaigners have blocked the exits to seven oil facilities near London, Birmingham and Southampton, in a bid to halt new oil and gas developments. Protestors from the Just Stop Oil Coalition and Extinction rebellion have planted themselves along roads to stop oil tankers from leaving the facilities. One protestor from London, Jack Johnson, said: [...]
Businesses hit with 250 per cent increase in gas bills April 1, 2022 Businesses are facing a five-fold increase in gas bills, warns Cornwall Insight, amid wholesale market volatility and supply shortage fears.