Euro 2020 and ‘Freedom Day’ lift consumer spending above pre-Covid levels August 10, 2021 Euro 2020, the Tokyo 2020 Olympics and “Freedom Day” provided the perfect storm to lift consumer spending above pre-Covid levels, new figures released today reveal. Data from Barclaycard shows consumer spending was 11.6 per cent higher than in the same period in 2019, before the onset of the Covid crisis. Consumers rushed to pubs to [...]
UK firms to hire more staff as Covid recovery boosts confidence July 12, 2021 UK firms to hire more staff as Covid recovery boosts confidence
The Oxbridge obsession ignores the potential for social mobility in businesses June 15, 2022 Where you were born and what your parents do still matters for the opportunities you will have and the progress you will make in the UK. It’s not fair, but it’s true. Achieving social mobility in our society is one of the most important challenges both government and business face today. It’s unsurprising then that [...]
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 [...]
Virgin Money personal lending up as more people shop with credit cards July 27, 2021 Banking group Virgin Money today reported that personal lending and relationship deposits have grown as consumers pick up their credit cards again. Personal lending grew 2.5% to £5.2bn in the three months to 30 June 2021, driven by more customers using their credit cards to shop. Relationship deposits increased 3.7 per cent to just under [...]
Leisure spending jumps despite dip in consumer confidence October 21, 2019 Spending in the leisure sector jumped in the third quarter of the year despite a slump in overall consumer confidence driven by ongoing Brexit uncertainty. A boost in disposable income confidence, which was up one point year on year, helped to drive leisure expenditure as consumers favoured experiences over buying material goods. Read more: Consumer [...]
Labour says government ‘underplaying’ energy crisis as Kwarteng guarantees winter supply October 7, 2021 Labour is accusing the government of “underplaying” the energy price crisis as Kwasi Kwarteng today vowed the UK has enough supply to last through winter. Shadow business and energy secretary Ed Miliband today said the amount of energy companies going bust “is not a normal course of events”, despite claims from Kwarteng, and that “we [...]
Government buys stake in Sizewell C and paves way for funding June 14, 2022 The government has made progress on its proposed funding scheme for nuclear power, with Sizewell C set for taxpayer backing.
Global luxury market on track to beat pre-Covid sales this year – but Europe lags behind November 11, 2021 The global luxury goods sector is set for a powerful rebound and will outperform pre-pandemic levels this year, but Europe lags behind in the absence of tourists’ purses, consultancy Bain has said. Global sales of personal luxury goods – which include fashion, cosmetics, perfumes, watches, handbags and jewellery – are set to reach €283bn (£242bn) this [...]
Retail recovery in ‘sweet spot’ last month as cost of living could discourage shoppers March 3, 2022 High street experts were pleasantly surprised at the robustness of retail footfall last month, but have warned the cost of living crunch may soon deter shoppers. Footfall strengthened a little in February over the month as a whole, to -20.7 per cent below pre-pandemic levels, from -20.8 per cent in January, according to retail experts [...]