For the fourteenth time in a row, the Bank of England has increased its base interest rate by a quarter percentage point to 5.25%. The raise will add pressure on mortgage holders and businesses already feeling the financial squeeze. But the BoE insists the raise is necessary in the fight against inflation, warning the key […]
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A leaked government report has put the multi-billion HS2 project into fresh doubt. The official watchdog for the high-speed railway – the Infrastructure and Projects Authority (IPA) – has warned the “successful delivery” of the project “appears to be unachievable”, according to a report by the Telegraph. Construction journal Building reported earlier this week that […]
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Poverty campaigners have criticised British Gas and said the UK’s energy system is broken after the company posted profits of almost £1 billion for the first six months of the year. British Gas – which supplies 7.52 million households in the UK – said about half of its profits were due to keeping the energy […]
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Chancellor Jeremy Hunt and Prime Minister Rishi Sunak were ultimately instrumental in forcing NatWest CEO Dame Alison Rose’s resignation. The Farage banking saga may well have sparked anti-woke sentiments within the broader Tory party and among its supporters. The Conservatives already received a significant boost from holding on to Boris Johnson’s vacated seat on the […]
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A million households will be paying an extra £6,000 per year in mortgage costs by the end of 2026, the Bank of England has warned. Rising interest rates, hiked to tackle inflation, is increasing the pressure on mortgage holders and businesses. But in its report, the BoE said that while borrowers may struggle with rsising […]
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Water firms in England are pushing plans to increase household bills by up to 40% to cover the costs of treating sewage and dealing with climate change. The news come amid growing concern that the UK’s biggest water company, Thames Water is on the brink of collapse due to debts despite decades of paying dividends […]
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Rishi Sunak has signalled he is willing to overrule independent review bodies recommendations for public sector pay rises, provoking fury from trade unions who say millions will be left even worse off. The prime minister said he will block public sector pay rises if they are considered unaffordable because they could set off a “wage-price […]
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Conservative MPs fear the mortgage rate time bomb will cost them the next election because their government is blind to the impact of the “interest rate catastrophe”. The cost of mortgages have surged following successive interest rate rises and the Bank of England is predicted to hike them even higher this week – from 4.5% […]
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Rail strikes have crippled services and disrupted events and holiday plans across Britain as 12,000 train drivers continue their industrial action today (June 3) over pay and conditions. The RMT union claims the strikes, which began last June, have so far cost the UK economy £5 billion – far more than a settlement would have […]
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Weak demand for UK-manufactured goods has led to a further contraction in manufacturing output for the tenth month in a row. The UK manufacturing slump means fewer new orders, scarcer employment opportunities, and reduced activity overall. The highly anticipated S&P Global/ CIPS UK Manufacturing PMI survey revealed a drop to 47.1 in May, down from […]
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