Energy bills will be frozen at an average of £2,500 for two years in the run-up to the next general election as families battle the cost-of-living crisis. The energy price cap will be scrapped and replaced with a new “energy price guarantee”,...
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21st Sep 2023 | Updated at 03:40pm 21st Sep 2023
UK economy to shrink in 2023: IMF
The International Monetary Fund (IMF) has said that UK economy will shrink and perform worse than other advanced economies as the cost of living continues to hit households.
HMRC clarifies its stand on waiting times on self-assessment helpline
Officials working from home are not to blame for long waiting times on HM Revenue and Custom’s self-assessment helpline, the department has said.
Lloyds Banking Group has been hit by more than 300 million pounds of suspected fraud linked to Covid-19 pandemic-era recovery loans for small businesses, the highest among big bank peers, according to government data.
Experts have warned that the bank holiday for the Queen’s funeral raises the risk of Britain’s already faltering economy falling into a recession sooner than expected.
The UK economy grew more slowly than expected in July as worker shortages and soaring costs weighed on activity amid the heightened risk of recession. The Office for National Statistics said gross domestic product (GDP) rose by 0.2% in July,...
Britain's new finance minister Kwasi Kwarteng told bankers and investors that the government would need to borrow more than planned to support households and businesses through the energy crisis. In his first public move since being appointed...
Following the death of Queen Elizabeth, the Bank of England has postponed a key decision on interest rates. It said that "in light of the period of national mourning", the Monetary Policy Committee's decision would now be announced on 22 September.
New PM Liz Truss will go ahead and announce her tax slashing mini budget within weeks despite the death of the Queen. She has vowed to scrap the rise in...
Inflation is set to leave average real pay 9 per cent lower than two years previously by next spring, the Resolution Foundation said, wiping out all pay growth since 2003. Without government support, another 3mn people will be pushed into absolute...
The number of passengers flying with British Airways suffered 80 per cent drop during the pandemic and the airline was still struggling to recover after restrictions lifted last year, new figures show. A ranking of 600 operators tracked in the...
House prices rose at a double-digit rate for the 10th consecutive month in August as a lack of supply supported valuations despite mortgage rates increasing and the cost-of-living crisis.
