Which direction will the UK’s economic weather vane blow in 2022? January 6, 2022 It’s fair to say the last two years have been a turbulent one for the UK economy. The pandemic has upended working practices, supply chains and the monetary policy playbook. With the emergence of the Omicron variant leaving the spectre of coronavirus hanging over the country, it’s fair to say the British economy is not [...]
Tory tax revolt: Rees-Mogg comes out against Rishi Sunak’s planned national insurance hike January 6, 2022 Chancellor Rishi Sunak is urged this morning by Commons Leader Jacob Rees-Mogg to ditch planned rises to national insurance. Rees-Mogg told Rishi Sunak at yesterday’s Cabinet meeting that the increase must be scrapped to stem the rising cost of living crisis engulfing the Government, according to the Daily Telegraph. The Prime Minister faced questions from [...]
Petrol retailers accused of ripping off motorists over Christmas January 6, 2022 Petrol retailers failed to pass on wholesale price savings to UK customers last month, according to data from RAC Fuel Watch.
British businesses prepare to hike prices en masse January 6, 2022 British businesses are bracing for a cost assault by preparing to hike prices, reveals fresh research released today. Almost three in five firms expect to lift prices in the next three months, the highest proportion ever recorded, according to the British Chambers of Commerce (BCC). Intention to lift prices is seeping into most corners of [...]
Labour hits out at Boris Johnson for saying UK inflation fears are ‘unfounded’ January 5, 2022 Labour has attacked Boris Johnson for his allegedly complacent attitude on rising UK inflation, with deputy leader Angela Rayner hitting out at the Prime Minister for not easing the cost of living crunch for British families. Rayner, who was filling in today for a Covid-positive Sir Keir Starmer, called out Johnson in Prime Minister’s Questions [...]
CPI inflation to scale to highest rate in recent history this spring and smash Bank of England’s expectations January 5, 2022 Inflation will hit a record high and smash the Bank of England’s expectations this year, according to bets laid by City analysts. The UK’s mainstream measure of inflation will accelerate to a peak of 6.8 per cent this April, propelled higher by swelling energy bills, investment banking giant Goldman Sachs warned yesterday. However, the cost [...]
Uniper secures €10bn to cope with gas price volatility January 5, 2022 Uniper has picked up €10bn from parent company Fortum and state bank KfW to avoid a cash crunch amid record gas prices.
Sunak warns allies of limit to government help on surging energy prices January 5, 2022 Rishi Sunak has warned colleagues there is little the government can do to abate soaring energy prices as he mulls whether to slash VAT on energy bills. The chancellor has reportedly told other government ministers that any government help on the cost of living crunch should be targeted at those who need it most. The [...]
Lending a hand: government loans to energy firms can’t be the final answer January 5, 2022 Some of the media seem to have become addicted to gloom. Most outfits have become cautiously optimistic on Covid-19, but the prospective double squeeze on living standards has rushed in to fill the gap. Consumers are faced with tax increases and sharp rises in energy bills. The surge in the world price of energy means [...]
Four in five Brits see cost of living such as grocery and energy bills rise with many having to dip into savings January 5, 2022 More than four in five (82 per cent) people have seen their living costs such as grocery or energy bills and day-to-day essentials increase in the past few months, a survey has found. As a result, nearly a quarter (23 per cent) have dipped into savings, a fifth (19 per cent) said they have changed [...]