Cost of living crisis: Inflation sees Brits take a real-terms pay cut yet again March 14, 2023 British workers’ wages have been eroded by sky high inflation for the 15th month in a row despite them bagging bumper pay rises, official figures out today show. Real regular pay, which measures pay growth in cash terms minus inflation, fell on a monthly basis in January, according to the Office for National Statistics (ONS). [...]
Suella Braverman piles pressure on Rishi Sunak over rising migration November 23, 2023 Suella Braverman has urged Rishi Sunak to act on “unsustainable” migration figures, as the Prime Minister faced increasing pressure from his party to clamp down on the numbers.
Why today’s inflation numbers are much, much worse than you think May 24, 2023 Inflation in the UK has trimmed to its lowest level in over a year. It has also dropped out of the double digits for the first time since last August. Hooray! These are milestones that shouldn’t be welcomed with much joy, especially given that outside of the last 18 months or so, inflation barely budged [...]
Bank of England to hoist interest rates to 5.75 per cent as experts warn UK inflation is out of control June 13, 2023 The Bank of England will have to hike interest rates to their highest level since July 2007, the eve of the financial crisis, in a sign that markets think the UK has the worst inflation problem in the rich world. Traders ratcheted up bets on how high Bank Governor Andrew Bailey and the rest of [...]
Our economic recovery is on track, but we should aim to be on par with US growth September 18, 2023 There is no reason Britain should not aim to have an economy growing the same speed - if not faster - than the US, writes Chris Hayward
UK to narrowly avoid recession but cost of living crisis will leave families £4,000 worse off February 8, 2023 The UK is poised to narrowly avoid a recession but the cost of living crisis will still leave average Brits £4,000 worse off this year, fresh forecasts out today reveal. Britain’s economy is set to squeeze out 0.2 per cent of GDP growth in 2023, meaning it will just about swerve a technical reversal, two [...]
Stuck in traffic: Highway workers and Border Force to strike in London December 19, 2022 The winter of discontent is set to continue this week, with both traffic officers and Border Force staff planning to strike, causing travel havoc on the roads and in the air. National Highways South East Regional Control Centre in Godstone, 20mi south of London, will hold strikes on 22 December between 12:00 and 3:30 pm. [...]
After the economy grew again, will Bank of England’s rate hikes tip the UK into recession? August 11, 2023 The UK economy grew faster than expected in June, expanded 0.5 per cent, helping to bring growth in the second quarter to 0.2 per cent – but analysts are divided about what the figures say for the coming months. Growth in June was given a boost by a strong performance from the production sector, which [...]
Britain’s pro-growth agenda needs a rebrand to convince reluctant voters July 18, 2023 As the Tories face a brutal set of by-elections, they needs to find a way to give growth a good name again.
Coronation and your cash: How much have prices – and life in the UK – changed since 1953? May 5, 2023 When Queen Elizabeth II was crowned 70 years ago in 1953, the price of a pint was less than 10p, the average house price was around £1,800, and the average salary was £10 a week. But that’s not all that has changed, this year’s Coronation of King Charles III takes place in a nation where life [...]