UK borrowing surge piles pressure on chancellor ahead of Budget
UK borrowing adds to Budget headache John Healey’s delivery of his first Budget at the end of October comes burdened by the UK’s borrowing which jumped to £18.3bn in August, almost a fifth higher than a year earlier, adding fresh strain on chancellor. If you wonder what ‘borrowing’ means: It is the difference between tax […]
3 weeks ago
Bank of England holds rates as inflation hits six-month high
The energy shock could send UK inflation even higher Inflation has picked up again, putting the Bank of England in a difficult position as energy prices continue to rise. The latest figures show the Consumer Prices Index reached 3.1% in August, up from 2.9% in July. Petrol, diesel and air fares were among the biggest […]
1 month ago
UK Inflation Climbs to 2.9% as Energy Bills Bite
UK Inflation Climbs to 2.9% as Energy Bills Bite UK inflation rose to 2.9% in the 12 months to July, up from 2.6% in June and the highest rate since March, according to the ONS figures published on Wednesday. The Office for National Statistics said the increase was driven largely by household energy costs, after […]
2 months ago
Why the Middle East is keeping UK interest rates on hold
The Bank Of England is holding steady Journalists gathered outside the Bank of England on Thursday for a decision that, on the face of it, looked like a non-event. Rates stayed put. But the reason interest rates did not fall tells you almost everything about where the British economy sits this summer — and about […]
2 months ago
People divided after girl gets £16 from the Tooth Fairy ‘due to inflation’
How much did you usually get from the Tooth Fairy when you were a kid? 50p? £1? £2 if you were really lucky? Well, one mum has split opinion after she revealed she left $20 (£16) under her daughter’s pillow to keep up with “inflation.” In a post on Reddit, the mum wrote: “It’s crazy […]
2 years ago
Brits fly to Lidl in Poland to ‘save money’ on weekly shop
In case you needed any more reminding about just how expensive things are in the UK It won’t have escaped your attention that the price of pretty much everything has soared as we live through a cost of living crisis. One of the main ways you’ve probably noticed this is in your weekly food shop, […]
3 years ago