Tories told: Time to go for growth in budget as GDP gives some leeway October 1, 2021 CONSUMERS drove a faster than first thought recovery in the second quarter of the year. The Office for National Statistics yesterday upgraded GBP growth in the period from 4.8 per cent to 5.5 per cent. Economists, business groups and campaigners called on the Chancellor to use the additional leeway granted by the upwards revision to [...]
Just-in-time supply chains have left us dependent and with just-not-enough October 1, 2021 In the peak of the pandemic, songwriter Justin Vernon, known as the haunting voice of Bon Iver sang a searing lyric: “You at the corner store, you were stocking up before the storm.” As we watched hours of queues at petrol stations, we were reminded once again it was those who had filled up their [...]
FSB: Tax hikes risk severing Conservatives’ ties to business – CityAM : CityAM October 1, 2021 The Conservative Party’s ties to British businesses are at risk of being severed by looming tax hikes. The lobby group for British small businesses has slammed the Tories’ plans to raise national insurance at a time when firms across the country are grappling with higher costs and shortages. Also Read: Shortages and spiralling costs deal [...]
Sunak to unveil £500m grants to ease cost of living for UK’s poorest September 30, 2021 Rishi Sunak is set to announce £500m in grants to help the country’s poorest during the current cost of living crisis the UK is facing. The chancellor is expected to announce in his Tory party conference speech next week that it will be put in place to help households cope with costs over what is [...]
Sunak should slash taxes at budget to protect recovery, urges taxpayers’ lobby group September 30, 2021 Chancellor Rishi Sunak should slash taxes at the budget to prevent the UK’s economic recovery from the Covid-19 crisis running out of steam. That’s according to the chief of the top lobby group for taxpayers, who warned looming tax hikes will hit hardworking families and businesses and cause the recovery to “fall flat”. John O’Connell, [...]
Central bank chiefs warn inflation shock will persist September 30, 2021 The cream of the central banking crop collectively warned yesterday shortages plaguing rich nations pose a threat to their economic recovery and are unlikely to end anytime soon. Andrew Bailey, governor of the Bank of England, Jerome Powell, chair of the US Federal Reserve and Christine Lagarde, president of the European Central Bank (ECB) said [...]
Furlough ends today: 1m Brits in limbo as thousands of firms face bankruptcy September 30, 2021 Uncertainty looms for the future of almost one million furloughed Brits as the government’s £70bn support programme ends today, after helping out millions of workers across the UK over the last 18 months. Economists have warned that although many may find work in recovering sectors such as hospitality and travel, there is also likely to [...]
UK housing market still steaming despite looming stamp duty break cut off September 29, 2021 The looming end of a watered down tax break on house purchases has not cooled the UK’s rampant housing market, according to official figures released today. Brits took on £21.5bn in mortgage debt last month, up sharply from July’s figure of £16.6bn, shows Bank of England data. A record low interest rate environment has propped [...]
Talent war and transport costs hit shop prices September 29, 2021 A toxic combination of rising transport costs, severe worker shortages and soaring commodity prices is fuelling food price inflation. Food prices rose for the first time on an annual basis in six months in September, up 0.1 per cent, according to research from the British Retail Consortium (BRC). Supermarkets have been raising pay for HGV [...]
Editorial: It’s time to be straight on the cost of net-zero September 28, 2021 In the final years of New Labour’s time in office, free market campaigners, deficit hawks and the Conservatives sought to change the language used for government projects. For years, Gordon Brown et al had used the word investment to describe the use of public money. Those campaigners and politicians were successful; first, the word investment [...]