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The huge fallout from the mini-Budget has quelled its positive growth measures
A week is clearly a long time in politics. Last Friday, we saw the biggest tax cutting event in half a century followed by seven days during which the pound dropped to its lowest level ever against the dollar, the IMF criticised UK Government policy, the Bank of England made emergency interventions, and a potential …
Business
Evening Standard
FTSE 100 Live: Pressure eases on London stocks, pension providers make gains
London’s main stock ticked higher on Friday, while Liz Truss and Kwasi Kwarteng were preparing to talk with the head of the UK’s Budget watchdog, Richard Hughes. The Downing Street meeting will follow after a week of market turmoil followed the government’s redrawn tax and spending plans and comes as senior figures seek to reassure …
Business
Evening Standard
Civil servants relying on food banks amid cost-of-living crisis – report
A leading trade union is delivering a dossier to ministers, revealing the “depths of poverty” being suffered by the Government’s own employees.The Public and Commercial Services union (PCS) said civil servants are now relying on foodbanks for the first time in their lives.The 156-page dossier is being sent to Work and Pensions Secretary Chloe Smith, …
Business
Sky News
Bigger headache to come if chancellor’s sums found not to add up | Paul Kelso
The Office of Budget Responsibility usually toils in obscurity, the dryness of its name belying the importance of its role in making the national finances add up.Created by George Osborne in 2010 when he was chancellor, the OBR is, in the jargon, an independent fiscal watchdog. In practice, it marks the government’s budgetary homework, checking …
Business
Sky News
Bigger headache to come if chancellor’s sums don’t add up
The Office of Budget Responsibility usually toils in obscurity, the dryness of its name belying the importance of its role in making the national finances add up.Created by George Osborne in 2010 when he was chancellor, the OBR is, in the jargon, an independent fiscal watchdog. In practice, it marks the government’s budgetary homework, checking …
Business
Evening Standard
UK economy grows slightly in second quarter
The UK economy grew slightly over the second quarter after a previously predicted decline was revised by the Office for National Statistics (ONS).It means that the UK might not currently be in recession, as was predicted by the Bank of England earlier this month.A technical recession is when the economy witnesses two consecutive quarters of …
Business
Sky News
£1bn Serco pension scheme seeks loan from outsourcer amid markets turmoil
The pension schemes of Serco, the government contractor, have approached their sponsor to seek financial support amid a funding crunch triggered by this week’s wild gyrations in financial markets. Sky News has learnt that the outsourcing giant’s pension trustees contacted the company in recent days about establishing a new credit facility in the event of a …
Business
Sky News
Fiscal watchdog to deliver mini-budget forecast after rare meeting with PM
Liz Truss and Kwasi Kwarteng have met the head of the UK’s independent fiscal watchdog amid the fallout from the government’s mini-budget.The government confirmed that publication of the forecast would not be brought forward from 23 November – more than seven weeks away. The Office for Budget Responsibility (OBR) confirmed it would deliver an initial …
Business
Evening Standard
Truss and Kwarteng due to meet with OBR amid market turmoil and party concerns
The Prime Minister and the Chancellor will meet with the Office for Budget Responsibility (OBR) later amid market turmoil following last week’s mini-budget.Treasury and Downing Street sources hit back at suggestions it was an emergency meeting, while Treasury minister Andrew Griffith played down its significance, labelling it a “very good idea”.Nonetheless, the unusual meeting with …
Business
Sky News
Energy bills are going up tomorrow – here’s what you need to know
Gas and electricity bills are going up tomorrow as the new energy price cap takes effect.You may have read that from 1 October the price cap will mean average energy bills will increase by 27% from £1,971 a year to £2,500. But it isn’t as simple as that.House prices warning as growth slows to single …
Business
Sky News
Energy bills are going up from today – here’s what you need to know
Gas and electricity bills are going up as the new energy price cap takes effect.You may have read that from 1 October the price cap will mean average energy bills will increase by 27% from £1,971 a year to £2,500. But it isn’t as simple as that.House prices warning as growth slows to single digits …
Business
Sky News
Energy bills are going up – here’s what you need to know
Gas and electricity bills are going up as the new energy price cap takes effect.You may have read that from 1 October the price cap will mean average energy bills will increase by 27% from £1,971 a year to £2,500. But it isn’t as simple as that.House prices warning as growth slows to single digits …

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