UK interest rates have risen to 1% – their highest level for 13 years – with the Bank of England (BoE) warning the economy will slip into recession this year as experts predict inflation will go above 10%. The bank’s grim forecast hit the value of the pound which slumped to a two-year low, losing […]
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UK supermarkets are rationing cooking oil due to supply-chain problems caused by the war in Ukraine, the world’s biggest supplier of sunflower oil. The British Retail Consortium said restricting supplies is a temporary measure with the rationing introduced to ensure there is availability for everyone. Demand on limited supplies is pushing prices higher with an […]
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As Martin Lewis warns of imminent ‘civil unrest’ in the UK from the worsening cost of living crisis, state pensions and benefits rise by less than half of the rate of inflation – which is predicted to hit 8.4% later this year. Monday’s (April 11) 3.1% rise for state pensions and benefits makes the value […]
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The government’s long awaited Energy Security Strategy for the UK has finally been published – and immediately condemned for ignoring energy efficiencies and offering no help to deal with rising prices now. Despite energy efficiencies – such as insulating homes – being hailed as “a silver bullet” for the UK’s energy conundrum, the government’s strategy […]
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The national insurance hike has kicked in at a time when the cost of living is at an all-time high, leaving workers and many businesses more vulnerable than ever. But the Prime Minister has called the NI rise “necessary, fair, and responsible”. The additional funds in government coffers are to boost the NHS, with the […]
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Labour has called for the government to take contingency measures in case fuel rationing is needed in the UK as Russia’s war in Ukraine deepens. Shadow business secretary Jonathan Reynolds said “there’s a lot of complacency in this country” about the UK’s exposure to Russian gas and urged the government to plan for fuel rationing […]
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Protests around the country have seen thousands march against record energy price rises while climate change activists target the country’s fossil fuel infrastructure. Protestors in Cardiff and Birmingham joined those in central London, marching on Downing Street to voice their alarm at the cost of living crisis – exacerbated by Friday’s 54% increase to the […]
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On the same day that energy bills are hiked 54% and council tax and national insurance contributions rise, MPs have been given a £2,212 pay rise. It takes their basic pay to £84,144, which doesn’t include expenses. MPs can get £23,290 per year to help pay their rent. They can also get £190,750 for staffing […]
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Chancellor of the exchequer Rishi Sunak has stalled the prime minister’s already delayed energy security strategy. It is nearly three weeks since Boris Johnson pledged the government’s energy plan will be published “in the next few days”. However, Sunak “doesn’t want to provide any new money” for schemes to help wean the UK off its […]
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Rishi Sunak’s claims to be a tax-cutting Tory chancellor have been debunked by the Office for Budget Responsibility (OBR). Sunak’s Spring Statement turned out to be a mini-budget and featured headline grabbing measures such as the 5p off fuel duty (for 12 months), a national insurance cut for 30 million workers and a pledge to […]
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