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 now only last for six months. Hunt said the government will end the cap on energy prices in April and “will reverse almost all the tax […]
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Sir Keir Starmer is calling for an immediate general election regardless of whether Liz Truss remains in No 10 or is forced out by her party. “Change in personnel at the top of the Tory party is not the change we need. We need a change of government,” said Starmer, after Truss sacked Kwasi Kwarteng […]
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Liz Truss has not been prime minister for a month but her days in Number 10 already look numbered as calls for a general election intensify. The PM’s authority is immediately weakened by the major U-turn over scrapping the top rate of tax and disgruntled Conservative backbench MPs are smelling blood. Despite the size of […]
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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% against the dollar to just $1.03 before it managed to claw back two cents when London’s markets opened. Further turmoil […]
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The Labour party conference in Liverpool has started with a big boost from opinion polls putting them on course to win a 56-seat majority in the next general election. The latest poll by Savanta ComRes sees the Conservatives trailing Labour by 12 points, with the parties on 45% and 33% (the Liberal Democrats are on […]
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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 biggest tax give-away for 50 years – but experts say that half the cuts in personal tax will line the […]
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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 “immediate” help for families and business struggling with inflation and the cost of living crisis. The Times reports that her […]
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UK energy bills will rise from £1,971 to £3,549 in October with Ofgem today confirming the 80% hike. Household bills are forecast to soar even further in 2023 with warnings already made that “people will die” because of the rises. Energy consultants Cornwall Insight predict the average gas and electricity will increase to £5,386 in […]
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The government’s long awaited Energy Security Strategy for the UK has finally been published – and immediately condemned for ignoring energy efficiencies and offering no help to deal with rising prices now. Despite energy efficiencies – such as insulating homes – being hailed as “a silver bullet” for the UK’s energy conundrum, the government’s strategy […]
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Chancellor of the exchequer Rishi Sunak has stalled the prime minister’s already delayed energy security strategy. It is nearly three weeks since Boris Johnson pledged the government’s energy plan will be published “in the next few days”. However, Sunak “doesn’t want to provide any new money” for schemes to help wean the UK off its […]
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