Virgin Money to give out £1,000 bonuses to help staff deal with cost-of-living crunch July 19, 2022 Virgin Money today told staff it will be giving out £1,000 bonuses to all workers on salaries of less than £50,000 a year to help them deal with the UK’s cost-of-living crisis. In an internal memo seen by City A.M., Virgin Money chief executive David Duffy told staff earning less than £50,000 that they will [...]
Our productivity is a problem to be solved by the slackers in the workforce September 7, 2023 There are few things politicians seem to like more than hard work, but it might be laziness to get us out of our rut.
Mortgage costs slip for first time since May as Bank of England rate bets cool on inflation drop July 20, 2023 Mortgage rates have dropped for the first time in two months, sparked by banks passing on a reduction in interest rate bets after yesterday’s better than feared inflation figures. The average rate on two-year mortgages fell to 6.79 per cent yesterday from 6.81 per cent, according to financial data provider Moneyfacts. It is the first [...]
Rail and postal strikes ‘decimated’ festive trade with worst impact for a decade February 14, 2023 London’s festive economy was “decimated” by rail and postal strikes, as new figures revealed the disruption caused by walkouts was the worst month on record since 2011. Around 843,000 working days were lost to strike action in December – the highest for more than a decade – according to official figures from the Office for [...]
Autumn Statement: Hunt cuts national insurance by two per cent November 22, 2023 Jeremy Hunt has announced 110 pro-growth measures in today's Autumn Statement, with 'full expensing' at the heart of his plans to boost UK investment.
Decade high 400k working days lost to strike action in October December 13, 2022 Over 400,000 working days were lost to strikes in October, the highest since November 2011, official figures from the Office for National Statistics out today reveal. Britain has been hit with a wave of industrial action by railway, postal and health workers sparked by pay and working conditions disputes. Working days lost to staff walk [...]
Inflation to top Bank of England target until at least 2026, Goldman Sachs warn May 30, 2023 Inflation in the UK is set to top the Bank of England’s target for at least the next three years, likely forcing governor Andrew Bailey and co to tip the country into recession via yet more interest rate rises, a top Wall Street bank has warned. Researchers at Goldman Sachs late last night hiked their [...]
Greater investment than predicted as UK economy grows by just 0.1 per cent June 30, 2023 The UK economy grew marginally over the first quarter of the year, driven by increases within the services sector, according to official data. UK gross domestic product (GDP) edged up by 0.1% between January and March, the Office for National Statistics (ONS) said. The ONS had already indicated growth of 0.1% in May, but on [...]
Brits’ living standards drop at quickest pace in over a decade June 14, 2022 Brits’ living standards are falling at the fastest pace in over a decade caused by historically high inflation outstripping pay, reveals official figures published today. Take home pay, accounting for price rises, dropped 2.2 per cent over the three months to April, the steepest fall since 2011, according to the Office for National Statistics (ONS). [...]
Recession kicked into long grass as UK steams ahead of Europe and US March 13, 2023 A recession hitting the UK economy is looking like an increasingly far flung prospect after yet more data today shows businesses and families are fending off the cost of living crunch. A net balance of 43 per cent of UK businesses are buoyant about the economy over the coming year, the highest level in a [...]