The Bank of England has developed a mythical stature – it’s time to burst it October 20, 2021 The UK, along with the rest of the Western world, has just lived through a period of low inflation. In the 25 years since the mid-1990s, inflation has averaged just 2 per cent a year. It is enough to double the price level every 35 years, but a far cry from the double-digit rates seen [...]
Council taxes need to rise by at least 10 per cent to afford social care, warns Age UK October 16, 2021 Council tax would need to be hiked by 10 per cent on average next year if social care is to “stand still”, according to a charity calling for an urgent central government cash injection. Chancellor Rishi Sunak’s decisions in the autumn spending review will determine whether social care services “wither and die”, stand still or [...]
Wednesday’s GDP figures will remind Brits of sunnier economic times October 12, 2021 The economic mood at the moment is not upbeat. Households are facing an acute cost of living crisis, businesses are warning of shortages at Christmas, inflation is likely to run hotter and for longer than the Bank of England initially expected. Doom and gloom. However, on Wednesday, positivity will be partly revived as the Office [...]
Looming cost of living crisis pinches Brits’ confidence in finances October 12, 2021 The spectre of inflation is acutely impacing Brits’ confidence in the health of their finances. Nine in 10 households are worried about their finances, found research by Barclaycard. Brits across the country are facing a severe cost of living crisis caused by soaring energy prices, wider inflation and looming tax hikes, which is weighing down [...]
Letters: UK Hospitality says VATsEnough October 8, 2021 [Re: Boris Johnson expected to reveal ‘national living wage’ hike, Wednesday]Hospitality businesses are being battered by a perfect storm of labour shortages, disruption to supply and escalating food and utility costs. Margins are being squeezed as they try to rebuild. Contrary to some perceptions, wages in hospitality have increased steadily, by approximately 20 per cent [...]
Britain’s economic adjustment only ends in one way October 7, 2021 The ails of the nation’s favourite sausage roll maker are a microcosm of the problems afflicting the UK economy. In a trading update yesterday, high street baker Greggs warned it is suffering from a “supply of ingredients.” A couple months back, it pulled its iconic chicken bite for similar reasons. Severe shortages plaguing the British [...]
PM unaware of British businesses’ ‘lived realities’ October 6, 2021 Business leaders and industry chiefs have lashed out at Prime Minister Boris Johnson for dismissing the “lived realities” of British companies after he delivered the concluding speech at the Conservative Party conference today. In a policy-light but joke-heavy address, Johnson said the UK is barrelling toward a “high wage, high skill and low tax economy” [...]
Tory conference: Boris Johnson’s speech in full October 6, 2021 Prime Minister Boris Johnson delivered his second leader’s speech at Conservative conference today. Here is his speech in full. Isn’t it amazing to be here in person the first time we have met since you defied the sceptics by winning councils and communities that Conservatives have never won in before – such as Hartlepool in [...]
UK consumers ‘left in the dark’ over post-Brexit trade deals October 6, 2021 More than two-thirds of UK consumers feel left in the dark about post-Brexit trade deals amid public concerns the government is failing to take into account key consumer concerns. According to a survey published today, the majority of the British public is concerned that the government is not providing enough information on trade negotiations, with [...]
Boris Johnson expected to reveal ‘national living wage’ hike October 6, 2021 Prime Minister Boris Johnson is expected to announce plans to raise wages for the country’s lowest paid earners to around £9.42 per hour. The increase will boost the pay of minimum wage workers over the age of 23 by around 5.7 per cent, more than double the previous increase of 2.2 per cent in April [...]