Treasury Committee chair joins chorus of MPs urging government to ditch national insurance hike January 27, 2022 The chair of an influential group of cross-party MPs that scrutinise the government’s spending plans has joined the chorus of policy makers calling for the national insurance hike to be scrapped. Tory MP Mel Stride, who chairs the Treasury Committee, urged the government to cancel the looming 1.25 percentage point national insurance rise to ease [...]
Plan B curbs sweep away retail sales as Brits shun high streets January 27, 2022 Plan B curbs that swept Brits away from the high street and offices throttled UK retailers this month, reveals a closely watched survey published today. The re-emergence of restrictions on daily life that dragged on throughout January hit high street sales, according to research carried out by the UK’s largest business group, the Confederation of [...]
EU economy would be hit by Russian supply shortages warns think tank January 27, 2022 Any potential halt to all Russian gas imports would have "profound consequences" for economies across the European Union.
Commercial vehicle output grows amid ‘dismal year’ for UK car manufacturing January 27, 2022 The UK commercial vehicle output has grown 11.3 per cent in 2021, despite a ‘dismal year’ for the British automotive industry. According to figures released today by the Society of Motor Manufacturers and Traders (SMMT), over the course of the year production climbed 27.3 per cent. As a result of the lockdown-induced surge in home [...]
Mike Cherry interview: Now is not the time to saddle small businesses with higher taxes January 27, 2022 The pandemic has been a bumpy ride for Britain’s entrepreneurs and small businesses. Trying to navigate the choppy waters of the government swinging between tougher and looser restrictions to tame Covid-19 has been fraught with risk and uncertainty. But, one thing seems for sure: the looming heavier tax burden will weigh heavily on small firms, [...]
UK car output worst since 1956 but EVs and investment brighten 2022 outlook January 27, 2022 2021 was a dismal year for the UK automotive industry, as output fell 6.7 per cent to less than 860,000 units – the lowest since 1956. Figures released today by the Society of Motor Manufacturers and Traders (SMMT) reported that production went down 34 per cent on pre-pandemic levels, especially as a result of the [...]
Food and drinks industry call for CO2 deal to head off shortages on shelves January 26, 2022 The food and drink industry has warned the UK of potential shortages without a new agreement on CO2 supplies.
Industry experts call for consumers to adapt energy habits to mitigate rising prices January 26, 2022 The habits of energy consumers need to be adapted to minimise the pain from rising household prices this year.
Octopus Energy doubts industry can rescue households from soaring energy bills January 26, 2022 Octopus Energy has questioned whether households can be spared from a painful spike in energy bills this spring.
Omicron pushing US Fed into action January 26, 2022 Stagflationary risks are rising as Covid variant extends disruption and central bank steps up to bring inflation under control. US inflation hit its highest level since 1982 at the end of 2021, with the consumer price index (CPI) reaching 7% year-on-year. The figures were widely anticipated, but only add to pressure on the US Federal [...]