How monetary policy control inflation

The average UK house price hit a new record high in June but there are “tentative signs of a slowdown”, according to an index. Prices were up by 10.7% in June, slowing from 11.2% in May, Nationwide Building Society said. Across the UK, the average house price in June was £271,613, up by 0.3% month on month. Robert Gardner, Nationwide’s chief economist, said: “The price of a typical UK home climbed to a new record high of £271,613, with average prices increasing by over £26,000 in the past year. “There are tentative signs of a slowdown, with the number of mortgages approved for house purchases falling back towards pre-pandemic levels in April and surveyors reporting some softening in new buyer inquiries. Recommended Over £130m handed to housing providers named and shamed by regulator “Nevertheless, the housing market has retained a surprising amount of momentum given the mounting pressure on household budgets from high inflation, which has already … [Read more...] about Average UK house price hits new record high but there are ‘signs of a slowdown’

Brexit: George Osborne discusses impact on UK economy Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info House prices are among a long list of consumer goods that have sky-rocketed in recent months. New data has charted the rise of these prices in 50 cities around the UK, with millions of Britons potentially sitting on a goldmine. Inflation rates have increased — the key factor behind the rise in the cost of living across the board. While housing is considered a consumer good, the right to it is a central aspect of the Universal Declaration of Human Rights and International Covenant on Economic, Social and Cultural Rights. Related articles Can Ukrainians … [Read more...] about Britons could be sitting on property GOLDMINES in one of these 50 UK cities

A UK digital regulator is needed to rein in the growing control Big Tech companies have on over our data , according to a new report. The Institute for Public Policy Research (IPPR) claims the coronavirus pandemic has increased the economic and social power of major tech companies . “Covid-19 risks further increasing the economic and social dominance of Big Tech, with stock market valuations skyrocketing as society becomes more dependent on data through homeworking and increased medical surveillance," said James Meadway, an associate fellow at IPPR. Together, the six largest tech companies in the US - Facebook, Alphabet, Apple, Microsoft, Netflix and Amazon - have increased their value by 38pc $1.9 trillion (£1.45tn) since lockdown began. In the same period, the average value of stocks in the US has “remained roughly unchanged”. The European market has suffered a 16pc decline while the UK market has suffered a 22pc fall. “This Covid effect means their power to affect and … [Read more...] about UK regulator is needed to keep powers of tech giants in check

Remainer plot EXPOSED as 'Whitehall shenanigans' used to punish team Leave (Image: GETTY) Sign up for FREE now and never miss the top politics stories again SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Kate Hoey, Labour MP for Vauxhall between 1989 and 2019, has suggested the partygate fallout is being weaponised by Remainers. Speaking in the House of Lords, she said: "I think outside this place, and perhaps some elements of the media that many elements of the public -probably the majority of the public - want to draw a line under all this so we can move on so we can get on with the issues that are really effecting the country. But can I ask the noble lady, does she agree with me that there will be some people who will never ever give up criticising the … [Read more...] about Brexit: Remainer plot EXPOSED as ‘Whitehall shenanigans’ used to punish team Leave

Every so often, it becomes apparent that ministers are as perplexed as anyone about the operations of government. Most civil service work, after all, takes place entirely without political supervision. By and large, this is acceptable – except when the Civil Service goes wildly off track and starts devoting manpower to tasks that are irrelevant or contrary to the Government’s programme or beliefs. One such example from the Coalition era was the existence of “pilgrims” – trade union officers paid a full Civil Service salary to work mostly on union work instead of government business. Lord Pickles famously outlawed the practice. But “pilgrims” now have a worthy heir: a type of employee we might dub the “staff network pilgrim” or “wokers”, as opposed to workers. The Telegraph has published data from the Taxpayers’ Alliance showing that some departments allow civil servants to devote an entire day of the week to workplace activism. For some wokers, however, this may be a minimum. … [Read more...] about Civil Service ‘wokers’ are more interested in activism than serving the public

Bosses have lashed out at a government plan to impose fines and bans on directors for inaccuracies in their companies’ accounts, claiming it will add an unwanted burden to strained firms and deter qualified candidates from joining boards. Business Secretary Kwasi Kwarteng is preparing to publish long-awaited proposals to clean up the audit industry and improve the quality of company accounts following scandals at the likes of Carillion and Patisserie Valerie . A swathe of prominent business figures questioned whether the changes would place an unreasonable burden on directors and protect auditors from being held accountable. Sir Martin Sorrell, founder of advertising firm S4 Capital, said it did not make sense to “strangle initiative” at companies trying to survive the pandemic. Charlie Mullins, chairman and founder of Pimlico Plumbers, said: “What’s the point of having auditors to sign off accounts if they’re going to make directors do porridge or pay huge fines when … [Read more...] about Bosses hit out at plans to fine and ban directors for accounting errors

Announcement of the results from BT Group strike ballots Sign up for FREE for the biggest new releases, reviews and tech hacks SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info According to reports, around 25,000 members of the Communication Workers Union (CWU) at BT and Openreach and 9,000 BT call centre workers were balloted and overwhelmingly backed industrial action, the (CWU) recently said. BT employees have voted overwhelmingly in favour of holding a national strike for the first time in 35 years, sparking the latest industrial action dispute over wages. Related articles Where is the safest place in the UK during nuclear war? Top 20 areas Trade unions and Labour could split as 'summer of discontent' looms … [Read more...] about BT national strike threatens to severely hamper broadband as employees set to walk out