Govt must decide which ‘unpleasant combination’ of investment and benefit cuts will fuel mini-budget September 30, 2022 The government will have to decide which “unpleasant combination” of investment and benefit cuts will fuel its mini-budget stimulus package. a leading think tank has said. Prime Minister Liz Truss is appearing to stick with to Chancellor Kwasi Kwarteng’s mini-budget plans, despite the Tories sinking in the polls overnight with YouGov saying Labour now has [...]
Liz Truss appoints Jeremy Hunt as chancellor after Kwarteng sacking October 14, 2022 Jeremy Hunt has been appointed as the new chancellor after prime minister Liz Truss sacked Kwasi Kwarteng today following weeks of market turmoil triggered by last month’s mini budget. Hunt is the fourth chancellor this year. According to bookmaker Betfair, Truss is now odds on to step down as prime minister. Kwarteng wrote to Liz [...]
Hasta la vista! Boris waves goodbye but casts a shadow for his successor July 21, 2022 THERE’S always an awkward moment when you start a new job, and someone comes round asking you to contribute to a collection for someone you barely know. That moment came unusually quickly for the dirty double dozen that Boris Johnson shuffled into the Cabinet room, with ministers who had been serving him for less than [...]
Jeremy Hunt invokes Johnson and Osborne after criticism of government’s long-term investment October 25, 2023 The Chancellor Jeremy Hunt was forced to defend the government’s approach to long-term investment today after coming under fire at a meeting of City grandees in the Square Mile.
Bank of England shirks historic rate hike despite warning of longer inflation September 22, 2022 The Bank of England today shirked the biggest interest rate hike since the late 1980s despite inflation threatening to run hot for months. Borrowing costs climbed 50 basis points to 2.25 per cent, their highest since November 2008 and the seventh rise in a row, the Bank announced. Before the decision, City economists and markets [...]
Shapps: UK will still meet ‘net zero’ targets despite oil and gas licences August 2, 2023 Energy security secretary Grant Shapps has insisted the UK will “still meet our net zero targets” despite new oil and gas licences.
Jeremy Hunt and Rishi Sunak’s uphill task just got a bit steeper February 15, 2024 Rates will come down - probably in May, maybe in June - but they will take time to filter through to the wider economy. With an election looming, can the Tories expect anything to turn up?
Why council funding may be the next hot potato for Rishi Sunak to handle January 23, 2024 Dozens of Tory MPs have written to Rishi Sunak demanding “emergency” funding for councils which they say are facing cash pressures “like never before” amid an election year.
UK’s £50bn black hole: Brits face a long, cold winter full of spending cuts and fresh tax hikes November 1, 2022 After barely a week in office, Rishi Sunak, the new Prime Minister, and his equally new Chancellor, Jeremy Hunt, are expected to move ahead with tax rises for millions of Brits. As early as next week, Sunak and Hunt will most likely extend a freeze on the thresholds at which people start to pay the [...]
FTSE 100 today: London shares poised for quiet start amid lingering concerns over US rates, Middle East tensions April 18, 2024 The US stock market was volatile, with Wall Street notching its first four-day losing streak since the start of the year. Asia stocks were mixed, while oil and gold prices surged due to Middle East tensions. Australia's March employment data disappointed, with all eyes now on Netflix earnings for further insight.