Chancellor Jeremy Hunt has backed the Bank of England to prioritise tackling inflation, despite concerns rapid increases in interest rates have contributed to recent volatility in the banking sector. The Bank’s Monetary Policy Committee meets this week amid speculation it may pause its recent trajectory of raising rates when it announces its decision on Thursday. […]
The experts at money.co.uk have to investigated the current cost-of-living’s impact on different age groups and found 16-34 years olds worst affected. To do this, they compared the effect on their mental health, along with other factors like their biggest financial concern, childcare costs and reliance on benefits. Six in 10 of those aged 25-34 […]
The UK faces its biggest fall in spending power for 70 years as the surging cost of living eats into people’s wages. The government’s independent forecaster said that household incomes – once rising prices were taken into account – would drop by 6% this year and next. Living standards won’t recover to pre-pandemic levels until […]
At Business Matters we have spoken to a number of experts to gauge their opinions about Jeremy Hunt’s Spring Budget, and whilst the Chancellors announcements have gone down well, many sound notes of caution. Gerard Grech, CEO of Tech Nation, told us: Today’s budget is a positive indication of the UK Government’s commitment to becoming a […]
Over half of people in poverty are finding it difficult to pay for their insurance amidst the cost-of-living crisis – leading some to give up insurance as they prioritise food and energy bills, new report warns today. New research by the Social Market Foundation (SMF), supported by Fair By Design, found that insurance is becoming […]
Small Business Britain is teaming up with the Amazon Small Business Accelerator to help small firms navigate the cost-of-living crisis and threat of recession. Consisting of a series of live breakfast events and mentoring, the programme is free to small businesses, focused on giving firms a helping hand to overcome mounting economic hurdles, from inflation […]
The government has been urged to end the stigma that surrounds rolled-up holiday pay, which leads to hundreds of millions of pounds of holiday pay going unclaimed every year. Responding to the government’s Holiday Entitlement Consultation, which closes today, IWORK (the body that empowers temporary workers) made clear it’s the “only way” to guarantee that […]
It’s no understatement to say that 2022 was a very difficult year for UK businesses. The combination of the cost of living and energy crises, alongside the looming threat of a recession, meant that many businesses were left struggling with higher operating costs and fewer consumers to offset these expenses. As a result, over half […]
Double Dutch, the producers of award-winning premium mixers and tonics, has launched its Female Bartending Scholarship Programme for the third year, as part of its ongoing mission to foster upcoming female talent in the hospitality industry. With research revealing that women accounted for just 30 percent of all hospitality leaders, with most of these found […]
The Institute of Directors is calling on the UK government to be significantly more active in incentivising green industries and technologies. In a recent survey of IoD members, nearly 8 in 10 businesses supported subsidies, either to achieve a step-change in how we tackle climate change or to level the playing field with the EU […]