Hospitality chiefs call on Sunak to reverse VAT hike or leave London businesses ‘unviable overnight’ March 20, 2022 Hospitality heads have said the government’s plans to increase VAT from current rates of 12.5 per cent to highs of 20 per cent at the start of next month will see some London businesses “become unviable overnight.” Industry chiefs warned that Chancellor Rishi Sunak’s plans to hike consumer taxes on food, soft drinks, accommodation, and [...]
One in five Brits expect to fall into debt as cost of living soars March 22, 2022 One in five Brits are anticipating being plunged into debt by spiralling energy prices and the rising cost of living, fresh data has revealed.
Gas prices hit record levels this month reveals Office for National Statistics March 10, 2022 Gas prices soared 66 per cent in the week up to 6 March 2022 to record levels at 15.5p per kilowatt hour (kWH), according to the ONS.
UK recession to hit sooner than first thought as economy unexpectedly shrinks May 12, 2022 The UK is “dangerously close” to tipping into a recession sooner than predicted due to households already cutting spending ahead of the cost of living squeeze tightening. That’s according to City economists’ assessment of weaker than expected GDP figures published today by the Office for National Statistics (ONS). The economy shrank 0.1 per cent in [...]
The Thatcherite darling narrative needs to be an election-winning story August 15, 2022 The battle for the leadership of the Conservative Party grinds on. Policy ideas are thrown out like bait from a fisherman, with Rishi Sunak declaring his support for grammar schools and Liz Truss throwing her weight behind allowing more seasonal workers into the UK. In the longer run, though, as the contest rolls towards a [...]
Bank of England has undercooked inflation forecasts again, City economists warn February 7, 2022 The Bank of England has undercooked its forecasts for inflation again in a sign the cost of living squeeze will get worse before it gets better, reveals new estimates from City economists. Inflation will peak at 7.5 per cent in April, higher than the Bank’s expected peak of 7.25 per cent in its latest forecasts, [...]
Barclays kicks shareholder goodies into long grass again after $15bn trading blunder April 28, 2022 British banking giant Barclays has kicked its share buyback programme into the long grass for the second time after it booked huge costs to draw a line under an unprecedented trading blunder, it announced today. The lender last month said it had sold more than $15bn (£12bn) of financial products than it was allowed to, [...]
Ovo Energy backs social tariff for vulnerable households facing record bills January 24, 2023 Ovo Energy has joined calls for a social tariff to help vulnerable households grappling with record energy bills.
Ofgem investigates suppliers over direct debit payments May 3, 2022 Household energy suppliers are under fresh scrutiny from Ofgem amid concerns customers are facing unfair hikes in direct debit demands.
Johnson says NI tax rise ‘unquestionably’ right thing for UK as tax hike comes in today April 6, 2022 Boris Johnson has said the increase in National Insurance is “unquestionably the right thing for our country” on the day the tax hike comes into place. Johnson said he has “absolutely no problem” with the tax hike as “we’ve got to give our doctors and our nurses the wherewithal, the funding” to deal with the [...]