UK inflation has surged at its fastest rate since records began with a 3.2% rise in August carried by steep rises in food and drink and home furnishing prices. Figures released today (September 15) by the Office for National Statistics (ONS) show the highest monthly rise since the Bank of England (BoE) gained independence to […]
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The culture secretary Oliver Dowden has hailed plans to replace EU data laws with a new “light touch” British framework as “one of the biggest prizes” of Brexit. Dowden said the new rules will deliver a “data dividend” that will boost economic growth in the digital economy. His comments come as the UK’s economic recovery […]
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Britain recorded its “greenest ever” electricity system on Bank Holiday Monday when 80% of the nations power was generated by “zero-carbon power sources”. Wind made up 39% of the energy, solar 21% and nuclear 16% while there was zero coal generation and 10% produced by gas plants with the remainder made up of imports and […]
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Sir Keir Starmer has laid out his vision for the Labour party and the UK – one he hopes will be funded by the £250 billion saved by Britons during the pandemic. The Labour leader has called for a ‘moral crusade’ to create a fairer, more prosperous society, saying the pandemic has demonstrated “a deadly […]
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The government has been accused of “a betrayal of millions’” over their £3.5 billion fund to fix the cladding scandal that has left leaseholders in debt and limbo since the Grenfell fire, more than three and a half years ago. Politicians from all parties joined homeowners and campaigners to condemn the government’s £3.5 billion fund […]
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Chancellor Rishi Sunak unveiled his fourth winter economic plan in six weeks by announcing the extension of the furlough scheme until March. It means the government will pay 80% of workers’ wages with companies paying national insurance and pension contributions. Support for self-employed had also been extended and the amount increased from previous Treasury statements. […]
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The Bank of England (BoE) is mulling over slashing key policy rates to below zero as part of its efforts to support the UK economy. In a television interview on Tuesday, BoE Deputy Governor Ben Broadbent said that the central bank was open to the possibility of negative interest rates, but that it was a […]
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Brexit will not be delayed by the coronavirus outbreak, a spokesman for the prime minister has confirmed, saying the UK will not ask for an extension to the transition period which expires on December 31, 2020. However, the outbreak could push the UK’s economy to the brink of recession, warned Goldman Sachs as the number […]
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The Bank of England has warned £16 trillion ($20tn) worth of assets held by firms are at risk if companies do not take action on climate change. Mark Carney, the outgoing governor of the BoE said millions of pension funds could become “worthless” unless companies and banks take effective steps to deal with the climate […]
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