The pound has plummeted to its lowest ever level against the US dollar after the new Conservative government’s mini-budget collapsed confidence in the UK’s economic management. Early trading on Monday saw the pound plunge 5% against the dollar to just $1.03 before it managed to claw back two cents when London’s markets opened. Further turmoil […]
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The Labour party conference in Liverpool has started with a big boost from opinion polls putting them on course to win a 56-seat majority in the next general election. The latest poll by Savanta ComRes sees the Conservatives trailing Labour by 12 points, with the parties on 45% and 33% (the Liberal Democrats are on […]
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The pound and UK stock markets have plummeted providing an immediate reaction to chancellor Kwasi Kwarteng’s mini-budget aimed to stimulate economic growth. The £45 billion package of tax cuts announced today (September 23) is the biggest tax give-away for 50 years – but experts say that half the cuts in personal tax will line the […]
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On Friday, the new chancellor will be on his feet in the House of Commons to reveal measures to tackle the cost of living crisis and boost the UK economy in his mini-budget. A variety of tax cuts are set to feature, including a reduction in the National Insurance rates, the scrapping of company profit […]
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Liz Truss’s admission that Britain’s post-Brexit free trade deal with the US is years away is “terrible news” for the UK economy and an “embarrassment” for the prime minister, according to the Labour party. Prime minister Truss is in New York for the United Nations general assembly – her first foreign trip as prime minister […]
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Liz Truss’s chief of staff has been interviewed by the FBI about an alleged criminal plot to bribe a US politician and influence an election, the Sunday Times reports. Mark Fullbrook – the prime minister’s most senior aide – is linked to banker Julio Herrera Velutini who is accused of trying to bribe the governor […]
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UK inflation unexpectedly dipped last month to 9.9% after petrol prices finally reflected the recent drop in oil prices. The slight relief has been tempered by the 13 month consecutive rise in food prices coming on top of warnings the upward trend in underlying inflationary pressures will likely see another interest rate rise by the […]
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King Charles’ staff at Clarence House are reported to be “livid” after receiving redundancy notices during a service for the dead Queen. Up to 100 staff at the King’s former official London residence learned – during the thanksgiving ceremony for the Queen, held on Monday in Edinburgh – that their jobs are at risk. “Everybody […]
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The UK’s most famous private school, Eton College has been condemned for playing football on Saturday despite an FA order to stop all games to show respect following the Queen’s death. Football fixtures at all levels, from Premier League matches to children’s sessions were cancelled this weekend, but not at Eton, which hosted two matches […]
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Priti Patel has stepped down as home secretary following the triumph of Liz Truss in the race to become the UK’s prime minister. Patel’s exit after three controversial years in the post is expected to be the first of several big name departures once Truss is installed as PM by the Queen at Balmoral on […]
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