The affordability of a home in England has fallen to its lowest since records began in 1999, official figures show. The cost a typical home in England has risen to 8.7 times the average annual disposable household income in the year to March, according to data from the Office for National Statistics. The figure compares […]
British Gas owner Centrica has defended paying £59 million to shareholders after its profits surged fivefold to £1.3 billion thanks to high energy prices. The FTSE 100 group that runs Britain’s biggest household energy supplier was criticised by politicians after announcing increased first-half profits and the resumption of its dividend, a day after experts warned […]
A whopping £51 billion in credit card, overdraft and personal loan debts will be accrued by consumers who are struggling to meet the upcoming tax deadline. This comes as nearly half of self-assessment tax payers struggle to keep up with payment dates, with the next payment due at the end of July likely to take […]
Energy giant Shell has posted massive profits of $11.5bn for the second quarter, smashing its previous record three months of trading earlier this year when it reported $9.2bn earnings. The company’s performance has been driven by soaring commodity prices in an increasingly turbulent economic environment. The London-listed company has now announced a share buyback programme […]
Car manufacturing in the UK rose by 5.6 per cent in its best June since the pandemic as the shortage of semiconductors and supply chain issues began to ease, figures show. The second consecutive month of growth is a cause for optimism, the Society of Motor Manufacturers and Traders said, after supply problems slowed production […]
Rishi Sunak has promised to scrap VAT on household fuel bills for a year to tackle the cost of living crisis, in a dramatic U-turn, as he battles to remain in the race to become the next prime minister. With Truss promising £30bn in immediate tax cuts, Sunak has repeatedly stressed the risks of unfunded […]
The railways will again grind to a halt on Wednesday as workers strike over pay, job security and working conditions. The latest talks to avert the action failed last week, a month since three days of industrial action in June. The strikes involve more than 40,000 workers at Network Rail, 14 train companies, and members […]
Monzo has been censured by the competition watchdog after the digital bank failed to provide thousands of customers who were closing accounts with copies of their transaction histories. Banks are required to send this information as a matter of course, but Monzo omitted to do so for 13,566 account-holders between the end of May last […]
Gas prices in Britain surged yesterday to highs not seen since March after Russia further curtailed supplies to Europe, just as European Union leaders agreed a weakened emergency plan to curb demand. UK wholesale gas prices for the month ahead rose by 17 per cent to more than 375p a therm — four times higher […]
Household disposable income fell by a record £44 a week in June, marking its eighth consecutive month of decline as the cost of living crisis intensifies. The average household was £175.80 worse off in June this year than they were in the same month in 2021, according to Asda’s monthly income tracker, produced by the […]