Since the last general election, the average cost of renting privately in England has surged by almost a quarter. In December 2019, the average monthly rent was £1,064, according to the Office for National Statistics. By May 2024, this figure had increased by 22% to £1,301 for both new and existing tenancies. During the same […]
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A think tank has criticised the UK’s major political parties for avoiding tough decisions about public finances in their manifestos, predicting a likely increase in taxes over the next five years. The Institute for Fiscal Studies (IFS) accused both Labour and the Conservatives of ignoring the “painful choices” necessary to address the country’s financial issues. […]
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Sir Keir Starmer has announced that, if Labour wins the upcoming election, they will introduce new laws to eliminate rental “bidding wars.” Speaking during a special edition of BBC’s Question Time, the Labour leader said the party plans to prevent landlords from “exploiting tenants” by encouraging them to offer higher rents to secure a property. […]
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Shoppers have been paying more for branded food items because suppliers of branded goods have been profiteering, the Competition and Markets Authority (CMA) has found. Consumer group Which? Has called the results of the CMA’s investigation “shocking” after the watchdog concluded there was clearly some profiteering going on during the cost of living crisis. The […]
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The newspapers have given their verdict on Jeremy Hunt’s Autumn Statement with the traditionally Tory supporting press hailing tax cuts while those more critical of the government remind of the record tax burden and looming general election. While not much is made of Hunt ditching the widely predicted slashing of inheritance tax, reaction is generally […]
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Jeremy Hunt is set to announce cutting inheritance tax, lowering business levies and reforming the state pension triple lock in next week’s Autumn Statement, according to widespread media reports. Speculation about the tax cut has been fuelled by forecasts that the chancellor will have more tax revenue to spend combined with falling borrowing costs and […]
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Women are giving up jobs in droves because they cannot balance work, pay, and childcare costs. Among single mums, 13 per cent have left, versus one in ten among all women. The figures stem from a report by the Fawcett Society, according to which the motherhood penalty has driven a quarter of a million women […]
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The UK has a 50-50 chance of being in recession with interest rates still high when the general election is called next year, the Bank of England has said. Governor Andrew Bailey announced the Bank’s key base rate will be unchanged at 5.25% for the second consecutive month but added: “It’s much too early to […]
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A former colonel turned senior HS2 whistleblower has called the high speed rail project a “fraud against the British people.” Senior HS2 managers instructed staff to keep politicians in the dark over the true costs of the project, so that MPs would continue funding the private company running the project, according to decorated former army […]
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Experts say the UK economy is in a “terrible bind”, leaving no room for complacency or tax cuts. The Institute for Fiscal Studies (IFS) forecasts a ‘protracted period of high taxes and tight spending’. For 2024, the IFS predicts stubbornly high borrowing costs and a “moderate” recession in the first six months. The warnings mean […]
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