Shadow chancellor Rachel Reeves has ruled out any form of wealth tax to pay for public services under a future Labour government. Rather than taxing society’s richest and targeting expensive properties, raising the top rate of income tax or increasing capital gains tax to fund health, education and other services, a Labour government will pay […]
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Ofgem is to announce the new energy price cap for the October to December period on Friday. Thinktank Resolution Foundation has accused the energy regulator of sanctioning energy companies applying “unfair” prices, warning that more than seven million households will likely face higher energy bills than last winter. Resolution Foundation revealed that higher standing charges […]
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Downing Street confirmed that Rishi Sunak spoke to Saudi crown prince Mohammed Bin Salaman earlier today, with both leaders indicating a likely official state visit in autumn. According to news reports, Rishi Sunak told the Saudi crown prince of his desire to meet “at the earliest opportunity.” The two leaders expressed their desire to “continue […]
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Wages have increased by a record amount firing the fears of borrowers while giving pensioners hope of another big boost to their income. Total pay – including bonuses such as the one-off payment to NHS staff – soared 8.2% In the three months to June, far higher than the 7.3% predicted by analysts and a […]
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British Airways workers are to be awarded a 13.1% pay rise and one-off £1,000 payment to be paid over an 18 month period. Members of Unite have voted overwhelmingly to accept the offer which the union called “significant” and said was a reversal of cuts to pay made during the Covid pandemic. Pilots and managers […]
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For the fourteenth time in a row, the Bank of England has increased its base interest rate by a quarter percentage point to 5.25%. The raise will add pressure on mortgage holders and businesses already feeling the financial squeeze. But the BoE insists the raise is necessary in the fight against inflation, warning the key […]
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A leaked government report has put the multi-billion HS2 project into fresh doubt. The official watchdog for the high-speed railway – the Infrastructure and Projects Authority (IPA) – has warned the “successful delivery” of the project “appears to be unachievable”, according to a report by the Telegraph. Construction journal Building reported earlier this week that […]
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Poverty campaigners have criticised British Gas and said the UK’s energy system is broken after the company posted profits of almost £1 billion for the first six months of the year. British Gas – which supplies 7.52 million households in the UK – said about half of its profits were due to keeping the energy […]
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Chancellor Jeremy Hunt and Prime Minister Rishi Sunak were ultimately instrumental in forcing NatWest CEO Dame Alison Rose’s resignation. The Farage banking saga may well have sparked anti-woke sentiments within the broader Tory party and among its supporters. The Conservatives already received a significant boost from holding on to Boris Johnson’s vacated seat on the […]
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A million households will be paying an extra £6,000 per year in mortgage costs by the end of 2026, the Bank of England has warned. Rising interest rates, hiked to tackle inflation, is increasing the pressure on mortgage holders and businesses. But in its report, the BoE said that while borrowers may struggle with rsising […]
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