Joseph Rowntree Foundation urges immediate support for low-income households amid deepening energy crisis January 18, 2022 The Joseph Rowntree Foundation (JFR) is calling for immediate emergency payments for low-income households to alleviate the cost-of-living crisis.
IFS: Poorest Brits to shoulder worst cost of living shock January 12, 2022 The poorest households in the UK are set to shoulder a harder hit from the cost of living crisis, reveals new analysis released yesterday. The rising cost of energy will erode a greater proportion of poorer households’ income compared to wealthier Brits, according to the Institute for Fiscal Studies (IFS). Less wealthy Brits tend to [...]
The mountain of debt cannot be ignored no matter how much the economy grows January 12, 2022 Politicians and regulators are increasingly concerned about one phenomenon: buy-now-pay-later (BNPL). Nearly a year ago, the government agreed to regulate BNPL lenders, with an independent review chaired by City expert Christopher Woolard warning the sector represented a “significant potential consumer harm”. A Treasury consultation on BNPL only closed at the end of last year. It [...]
Why the energy crisis is set to derail the UK economy in 2022 January 7, 2022 A wave of concern over the swelling cost of living is sweeping across Britain. While households are bracing for higher tax bills and are already being stung by food prices leaping, it is swelling energy costs that will hit hardest in 2022. The UK’s benchmark gas prices have quintupled since January 2021, leaping from £54 [...]
More competitive travel prices on the horizon? Wizz Air poaches Gatwick take-off slots December 23, 2021 Budget carrier Wizz Air is set to be taking off from Gatwick next spring, after winning the rights at Britain’s second largest airport. It puts Wizz in a strong position going into the new year, after several years of battling rivals Ryanair and easyJet in the affordable European short-haul market. As travel prices rise alongside [...]
Travel industry 2022 lookahead: Are we back to square one? December 21, 2021 Less than a month ago, Luis Gallego – chief executive of British Airways’ (BA) owner IAG – was telling aviation stakeholders the industry’s recovery was on its way. Speaking at the Airlines UK conference in Westminster, Gallego revealed that “transatlantic bookings have reached almost 100 per cent of 2019 levels.” “I expect North Atlantic routes [...]
Finance Bill: government accused of failing to make case for tax reform December 15, 2021 A Westminster committee has accused the government of failing to make an adequate case for its proposed reforms to the tax system.
UK economy to return to anaemic growth as cost of living crisis spikes Brits November 30, 2021 A triple threat of a worsening cost of living crisis, higher interest rates and a pulling of government Covid-19 support will throw the UK economy back into an anaemic state, according to new research published today. Swelling energy bills and rising costs for basic necessities will cause households on tight budgets to rein in spending, [...]
Mel Stride MP urges chancellor to slash taxes to ease cost of living crisis November 29, 2021 The chairman of an influential group of MPs that scrutinises the spending plans of the government has told Tory chancellor Rishi Sunak to slash taxes to ease the cost of living crisis looming over Brits. Speaking to the PA news agency, Conservative MP Mel Stride, who chairs the Treasury Committee, called on the chancellor to [...]
Can UK handle a rate rise as economy rebounds? November 1, 2021 The UK economy grew by 0.4% in the month of August after latest estimates showed GDP contracted in July by 0.1%. July was disrupted by a spike in infections and tougher restrictions on self-isolation and testing for anyone in contact with those testing positive for Covid-19. This was known as the “pingdemic”, referring to the [...]