Families are facing average energy bills of up to £5,000 from April after Liz Truss was forced to rip up her government’s entire economic strategy and issue a public apology to the nation. Jeremy Hunt, the new chancellor, said that the energy price guarantee which limits average energy bills to £2,500, will come to an […]
Jeremy Hunt today announced plans to scrap “almost all” the tax cuts in last month’s mini-budget and curtail support for households with energy bills after April. The new chancellor announced that the government will defer plans to cut the basic rate of income tax by 1p indefinitely given the current financial crisis. Truss had planned […]
Ministers are pressing ahead with a dual crackdown on climate protests and strike action, a controversial move that followed a day of direct action in London including clashes with the public and milk poured on the floor of Harrods. Home secretary Suella Braverman will unveil plans on Sunday to grant police new powers to take […]
Almost 1m British households have given up on the streaming revolution so far this year, as the cost of living crisis forces increasingly budget-conscious consumers to stop taking services such as Netflix, Amazon Prime Video and Disney+. The premiere of two of the most-hyped and expensive shows of all time – the $650m (£580m) productions […]
Waitrose is to restore the free coffee offer it controversially removed from its loyalty card members, in an attempt to halt the supermarket’s waning fortunes as customers tighten their belts. The chain halted the offer during the early months of the pandemic but, after a trial earlier this year, is restoring the benefit for its […]
The mattress company Eve Sleep has called in administrators after succumbing to what its chief executive described as an “economic tsunami”. The company, whose share price has slumped more than 90% this year, said it had received a number of indicative offers from potential buyers but none had progressed beyond due diligence. “It is heartbreaking […]
More than five million families are set to see their annual mortgage payments rise by an average of £5,100 by the end of 2024, a think tank has predicted. The increase will vary across the country with Londoners hit hardest, paying £8,000 more a year compared with £3,400 extra in Wales, according to the Resolution […]
Jeremy Hunt is to delay a penny cut in income tax, the flagship announcement in the disastrous mini-budget, to help plug a black hole in the public finances that had reached £72 billion. In the latest in a series of government U-turns, the new chancellor is expected to announce that plans to reduce the basic […]
Electric Mini production is to be shifted from the UK to China in a fresh blow to Britain’s ambitions for a green car industry. The brand’s German owner BMW said it is planning to halt production of the electric cars at its Oxford factory next year, despite the city’s status as the historic home of […]
Troubled battery start-up Britishvolt could collapse within the next two months if emergency funding is not found, according to a report. The firm needs £200 million to last until next summer (when it expects the first battery orders from car makers to arrive), reports the Financial Times, with a real worry that it won’t make […]