Economy

Sunak reveals £26bn Budget pledges and rejects need for Covid plan B despite top scientist’s advice

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Chancellor Rishi Sunak has announced almost £26 billion of public spending commitments ahead of Wednesday’s (October 27) budget and spending review. Strong investment in public services, business support and help for working families will be at the heart of Sunak’s third budget with big spending planned for infrastructure projects, innovation and skills training. Digitalising the […]

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UK’s carbon-zero plan for 440,000 jobs and £90bn investment; PM’s £400m deal with Bill Gates for green tech revolution

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The UK’s plan to reach net-zero greenhouse emissions by 2050 will “secure” 440,000 green jobs and “unlock” £90 billion in private investment, according to ministers. With the start of Cop26 in Glasgow less than two weeks away, Boris Johnson finally published his long awaited plan to make the UK net zero in greenhouse gas emissions […]

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Factories face shut downs while govt proposes new £170 gas levy; PM calls up ex-Tesco boss to avert ‘nightmare Christmas’

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Households and businesses are alarmed by reports that energy prices – already at record levels – could be set to rise even further through the government’s new “green” levy on gas. The new charge will add up to £170 per year onto household gas bills from 2023,  according to a report in the Times. The […]

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Inflation rate surges to record rise as autumn is set to bring ‘serious squeeze on living standards’

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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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No 10 plot to sideline Sturgeon at Cop26 in Glasgow; Tories at war over tax hike for social care

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Downing Street has drawn up plans to try and isolate Scotland’s first minister during Cop26 in Glasgow amid fears Nicola Sturgeon will “steal the limelight” and exploit the event to further Scottish independence. Number 10 has been “wargaming to stop” Sturgeon “using Cop26 as [an] ‘advert’ for Scottish independence”, declares an exclusive in the Independent. […]

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Government will break manifesto promise on tax to pay for social care reform – Javid eyes tax hike for over-40s and allies with Sunak for rise

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The government is set to break a manifesto promise by raising taxes in order to pay for reforms to the UK’s crisis-hit social care system. Boris Johnson assured voters he had a plan to sort out social care two-and-a-half years ago while the 2019 election manifesto explicitly promised not to raise rates on national insurance, […]

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