The Bank of England has raised the UK interest rate for the 12th consecutive time, hiking the base rate from 4.25% to 4.5% – the highest level in 15 years. The decision by the BoE’s Monetary Policy Committee (MPC) to raise the interest rate will increase mortgage costs for homeowners. Increasing the cost of borrowing […]
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UK families will be hit with a record rise in energy costs leading to the biggest fall in living standards since records began, the Bank of England (BoE) said on what has been dubbed ‘Black Thursday’. Energy regulator Ofgem today (February 3) confirmed the price cap will rise by 54% in April while the BoE […]
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Chancellor of the exchequer Rishi Sunak is under fire for being “missing in action” in California while British businesses battle against the Omicron variant’s devastating impact on Christmas spending and the UK’s economy. The Bank of England shocked markets with an unexpected hike in interest rates today (December 16) to 0.25%, increasing the cost of […]
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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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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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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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