UK recorded music hits a high note thanks to vinyl and CD revivals March 16, 2022 UK recorded music continues to hit a high note, with revenue up 12.8 per cent to £1.26bn following 2020’s pandemic slump.
Convicted: Ex Labour MP Jared O’Mara guilty of fraud to fund cocaine habit – while in office February 8, 2023 A former Labour MP has been found guilty of making fraudulent expenses claims to fund a cocaine habit while in office. Jared O’Mara was convicted of six counts of fraud after trying to claim around £24,000 of taxpayers’ money for his “extravagant lifestyle”. The 41-year-old, who represented the constituency of Sheffield Hallam from 2017 to [...]
Bank of England defies expectations and hikes rates for first time in three years December 16, 2021 The Bank of England today defied the City’s expectations and hiked interest rates for the first time in three years. The Bank’s rate setting committee voted 8-1 in favour, including governor Andrew Bailey, of lifting rates 15 basis points from a record low 0.1 per cent to 0.25 per cent, making it the first major [...]
Which direction will the UK’s economic weather vane blow in 2022? January 6, 2022 It’s fair to say the last two years have been a turbulent one for the UK economy. The pandemic has upended working practices, supply chains and the monetary policy playbook. With the emergence of the Omicron variant leaving the spectre of coronavirus hanging over the country, it’s fair to say the British economy is not [...]
North Sea Oil won’t save us from the energy crisis if we don’t invest in renewables March 9, 2022 The UK has a fundamental problem with its energy supply: gas. For as long as we’re tied to the global gas market, the successful greening of our economy by 2050 – and the economic benefits and lower prices it brings – is not much more than a pipe dream. Our reliance on foreign gas –and [...]
Easter Reads part two: the best in our opinion pages on politics, the economy and Ukraine April 18, 2022 The much debated Online Safety Bill was introduced on March 17. It means US tech giants finally have a set of standards to adhere to, to safeguard online communities. The piece of legislation, however, is a behemoth bill of confusion, writes Leah Montebello. It’s not clear yet what content counts as “harmful”, and who should [...]
Sunak comes out fighting in defence of tax hikes and spending spree November 1, 2021 Tory Chancellor Rishi Sunak has defended his decision to swell the tax burden to its highest level in decades. Responding to a grilling from fellow MPs on the Treasury Committee, Sunak said last week’s bumper budget spending spree was designed to deliver on a “bunch of commitments” the government promised to achieve. The Chancellor’s decision [...]
Some economists hold out hope for Bank of England rate hike December 15, 2021 The Bank of England would have hiked interest rates sharply to quash the over 10-year high inflation print if the UK was not in the teeth of the Covid-19 crisis, according to City economists. That’s the prediction from analysts at Bank of America, who today said: “In normal times, the BoE would likely already have [...]
All public sector workers to get pay rise after partial 2021 wage freeze October 25, 2021 Millions of public sector workers are set to get a pay rise in this week’s Budget as the UK faces increasing inflation growth. The Treasury tonight said the size of the wage increase will be determined next year after it has been given recommendations from pay review bodies. Rishi Sunak froze pay for all public [...]
Bumper Black Friday and cyber Monday sales are a relic of old consumer habits November 27, 2021 For small businesses, the weekend of bumper sales from Black Friday through to Cyber Monday is not just a race they cannot keep up with, it is a race right to the bottom. No wonder most independents are not taking part. The now classic Black Friday sale is big on discounts and small on nuance. [...]