UK government borrowing double than expected September 21, 2022 The UK government borrowed nearly double the amount than expected last month to fund the first stages of the cost of living care package, official figures published today show. Britain’s debt pile swelled £11.8bn in August, much higher than the country’s official forecaster, the Office for Budget Responsibility (OBR), projected £6bn at the March budget, [...]
Liz Truss planning to cut stamp duty as ‘rabbit’ in mini-budget September 21, 2022 Liz Truss and Kwasi Kwarteng are planning to cut stamp duty as the ‘rabbit’ in forthcoming mini-budget. Britain’s new prime minister will announce plans in a bid to spur growth in the UK economy. Reported in the Times, Truss and her new chancellor have been working on plans for over a month, before she was [...]
More sectors flash recession warning amid spending cooldown September 21, 2022 More sectors of the UK economy are flashing recession signals caused by consumers cutting spending in response to surging prices, a fresh survey published today reveals. Some 11 sectors out of the 14 tracked by Lloyds Bank recorded a slump in both demand and output last month. It is the fourth month in a row [...]
Truss vows to maintain UK’s military aid for Ukraine in 2023 September 20, 2022 Liz Truss has vowed to maintain the UK’s military aid for Ukraine next year, after arriving in New York for the United Nations General Assembly. The Prime Minister will underline her commitment to Ukraine in her UN speech tomorrow and tell western leaders that “we must put an end to Putin’s economic blackmail by removing [...]
PM Liz Truss: No post-Brexit US trade deal ‘in short to medium term’ September 20, 2022 Prime minister Liz truss has admitted the UK will not be able to strike a post-Brexit trade deal with the US anytime soon, as she lands in New York to address the UN. Britain’s newly-elected leader made the concession to reporters in the US after touching down on Tuesday, with a meeting scheduled with President [...]
Number 10 looks to shorten parliament’s party conference recess September 14, 2022 Number 10 is looking at shortening parliament’s recess for party conference season in a bid to provide more time to pass key legislation. There are plans to make MPs sit for parliament for a day longer next week, before party conferenece season begins, to ensure chancellor Kwasi Kwarteng can deliver a mini-budget. Parliament may also [...]
Multi-buy ban on sugary foods may be scrapped under government review September 14, 2022 Ministers may rip up its strategy to tackle obesity after a new review has been ordered into incoming rules around the promotion of unhealthy food, it has been reported. The Guardian newspaper has reported that Prime Minister Liz Truss could scrap a ban on foods that are high fat, salt or sugar being displayed prominently [...]
Health secretary must not forget about prevention in tackling NHS crisis, urges think tank September 13, 2022 The new health secretary must not forget about prevention, according to a top think tank, as she inherits the job of tackling an NHS in crisis. Thérèse Coffey, who was earlier this month appointed as the health minister, as well as deputy prime minister, announced last week she would prioritise A, B, C and D [...]
UK economy already in throes of drawn out recession, City warns after GDP disappoints September 12, 2022 The UK economy is already in recession and Liz Truss’s energy support package is unlikely to lift it out of its slump anytime soon, City economists warned today. Weaker than expected growth figures from the Office for National Statistics (ONS) today prompted experts to sound the recession alarm. Gross domestic product (GDP) climbed 0.2 per [...]
City eyes economic data dump for clues on BoE rate hike path September 11, 2022 City traders will be looking for clues shedding light on how far the Bank of England will need to hike interest rates in this week’s economic data dump. The capital’s premier FTSE 100 index posted a decent performance last week, adding nearly one per cent to close at 7,351.07 points. Its mid-cap domestically-focused counterpart, the [...]