Economy

Union leader Mick Lynch is blaming the government for a new round of 48 hour rail strikes that will paralyse the network in the run-up to Christmas and after the New Year. Millions of passengers will face severe disruption when thousands of members of the Rail, Maritime and Transport workers union (RMT) strike in December and January. The RMT claims the...

Paris takes over from London as Europe’s biggest stock market

London has lost its crown as the home of Europe’s largest stock market to Paris for the first time since records began in 2003. Stock values in Paris have wiped out a $1.4 trillion gap to London share values in...

Interest rate increase to be the sharpest in decades

At noon today, the Bank of England is expected to announce a 0.75 interest rate increase in a move to curb inflation. This hike will put the base interest...

UK faces ‘profound economic challenge’ warns new PM Rishi Sunak

The UK’s new prime minister Rishi Sunak has warned the country that “there is no doubt we face a profound economic challenge.” In his first comments after being named PM...

£4,437 energy bills in April as Hunt scraps ‘mini-budget’

New chancellor Jeremy Hunt has announced almost every part of his predecessor’s mini-budget and fiscal policy will be reversed, including the two year £2,500 energy price cap, which will...

‘We’re not a nanny state’ – PM blocks plan to battle blackouts

Britons will not be told to use less energy this winter because “we’re not a nanny state”, climate minister Graham Stuart said in response to news the UK faces blackouts this winter. Households and businesses...

 ‘Enough is enough’ – 50 UK protests against cost of living

Enough is Enough protests against the spiralling cost of living crisis will be held in 50 of the UK’s biggest cities and towns tomorrow (October 1) – the same day the new energy bill...

Pound hits historic low while split in Tory party deepens

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%...

Pound plummets as markets react to £45bn tax cuts for rich

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...

Kwarteng to announce £30bn tax cuts in emergency budget

Chancellor Kwasi Kwarteng will announce tax cuts worth £30 billion in an emergency budget focused on boosting economic growth. Prime minister Liz Truss vowed to make tax cuts during the Conservative leadership campaign to provide...