Published 12 May comments Comments Share close Share page Copy link About sharing The risk of a recession has risen, analysts have warned, after the economy shrank during March just as the UK had recovered from the pandemic. Higher prices are "beginning to bite", the UK statistics body said , with people spending less and cutting down on car journeys due to high fuel costs. The impact of higher energy bills in April has also yet to be seen. The economy grew by 0.8% over the first three months of the year, but in March it shrank by 0.1% as people cut back. The main boost to the economy came in January, as hospitality and travel industries recovered from coronavirus pandemic restrictions. However, that came before the war in Ukraine and before households began to feel the pinch of higher prices. Paul Dales, chief UK economist at Capital Economics, said the … [Read more...] about Recession fears grow as rising prices hit spending
Uk where are covid cases rising
UK inflation has climbed to 9.1% as the cost of living crisis continues to squeeze household finances. The consumer prices index (CPI) measure of inflation rose in the 12 months to May to its highest level sinceMarch 1982. CPI had already hit a 40-year high when it reached 9% the previous month , according to latest Office for National Statistics (ONS) data. The latest figures mean inflation is almost five times higher than the Bank of England (BoE) target of 2%. BoE economists are expecting UK inflation to hit 11% by the end of this year. It had previously estimated that the rate of CPI would hit 10%. Are you worried about rising prices? Let us know: [email protected] How inflation has changed over the years The ONS said food and drink prices were the biggest contributor of inflation creeping higher in the 12 months to May. Households are also being hit by sky-high energy costs, after the Ofgem price cap was raised by 54% in April, … [Read more...] about UK inflation hits 9.1% in new 40-year high as cost of living crisis deepens
Published 9 May Share close Share page Copy link About sharing New legislation would boost the schools regulator's powers to crack down on unregistered schools operating illegally in England, ministers say. The government says its Schools Bill will also introduce compulsory registers so children not receiving a full education can be identified. Education Secretary Nadhim Zahawi said the bill would ensure "every child has access to an education they deserve". But Labour said the Conservatives were "failing our children". Shadow education secretary Bridget Phillipson said the government was "obsessing over structures instead of improving children's experience in the classroom". She said there was "no plan" to improve teaching or "tackle the exodus of school staff from our classrooms" and that Labour had proposals to boost new teacher numbers by 6,500. Should a school be in … [Read more...] about Ofsted powers boosted to tackle illegal unregistered schools in England
By Tom Espiner Published 2 hours ago comments Comments Share close Share page Copy link About sharing The pound has fallen to a two-year low against the dollar reflecting traders' increasing concerns about recession around the world as energy prices continue to soar. But sterling is also weak because markets are worried about future UK economic growth, analysts said. Sterling could fall even further after predictions of economic stagnation and as inflation rises, they added. London shares regained some ground on Wednesday following Tuesday's falls. The resignation of two senior government ministers on Tuesday evening, including former Chancellor Rishi Sunak, was not a significant factor in the pound's fall, Rabobank head currency strategist Jane Foley told the BBC Radio 4 Today programme. UK household energy bills to hit £3,000 per year Sunak … [Read more...] about Pound slides to two-year low against the dollar
By Simon Jack Published 2 hours ago comments Comments Share close Share page Copy link About sharing Most Lloyds Bank customers have less than £500 of savings in their accounts, its chief executive said. Charlie Nunn said Lloyds had seen customers seeking debt advice jump up by a third in just the first six months of this year. Credit card spending on travel was up 300% on last year, but the majority of Lloyd's customers were worried about the cost of living, he said. It was possible for the UK to avoid the recession many are predicting, he said. It comes as UK households struggle with the soaring cost of food, energy bills and fuel as inflation rises at the fastest rate in 40 years. The head of the UK's biggest high street bank told the BBC: "80% of individuals and UK customers and families have less than £500 pounds worth of savings in their current … [Read more...] about Most only have £500 of savings says Lloyds boss
By Hazel Shearing Published 2 hours ago Share close Share page Copy link About sharing Former higher and further education minister Michelle Donelan has been made the new education secretary. It follows Nadhim Zahawi's departure from the post as he becomes chancellor. Ms Donelan, 38, has spent the past two years occupied with universities and colleges. Now she has the whole of England's education system to contend with - and she is facing a pretty packed schedule. Catch-up after Covid Perhaps the biggest issue Ms Donelan will have to contend with is the impact of two years of disruption on schoolchildren. By 2030, ministers want 90% of children leaving primary school to reach the expected standards in reading, writing and maths. There's a long way to go, and unions aren't convinced it's doable with current levels of funding. This week, Sats results … [Read more...] about Who is Michelle Donelan and what is the new education secretary facing?
Phillip Rhodes (Ngāti Awa, Ngāti Kahungunu) is a husband and father of two. He grew up in Hawke’s Bay and was fostered by Henare and Pam O'Keefe. He left Aotearoa to study singing in Cardiff, after winning the Lexus Song Quest in 2007. With support from Dame Kiri Te Kanawa’s foundation, he managed to establish himself as a professional singer in Europe with regular appearances in the UK's leading opera companies, including Opera North, Scottish Opera, Welsh National, English National and the Royal Opera House. He’s now come back home for Wellington Opera’s La Traviata, which shows from July 9-16 at the St James Theatre. What is the show you’re involved with? I will be singing the role of Giorgio Germont. Giorgio is a man of his time, a father who loves his son, and dotes on his (betrothed) daughter. He is a father who, like many, is willing to walk into hell in order to save his children. But in order to rescue his daughter's marriage he demands the termination of his son's … [Read more...] about Phillip Rhodes returns to Aotearoa for star role in Wellington Opera’s La Traviata
Published 7 minutes ago Share close Share page Copy link About sharing Following the shock resignation of former Chancellor Rishi Sunak, his replacement Nadhim Zahawi has said he and Prime Minister Boris Johnson want to "rebuild the economy" and get soaring inflation under control. Mr Zahawi said "nothing is off the table" in terms of cutting taxes. What are some of the options open to the new Chancellor to make good on those plans? 1. Cut VAT Mr Zahawi has said he wants to do two things: cut taxes and "bear down" on inflation. Those are not usually happy bedfellows. Cutting taxes puts more money into the economy, which drives prices up - so how can he walk this line? A temporary cut in VAT - the tax paid when buying goods and services - from 20% to 17.5%, say, would lower the price of goods and services in the basket used to calculate inflation - taxes would get cut, and … [Read more...] about Four ways Nadhim Zahawi may try to boost the economy
By Jim Reed Published 6 minutes ago Share close Share page Copy link About sharing Related Topics Coronavirus pandemic Steve Barclay has been named as the new health secretary following the resignation of Sajid Javid, who stepped down after saying he had lost faith in Boris Johnson's leadership. Mr Barclay had been working as the chief of staff at No 10, a powerful role in which he advised the prime minister and managed the machinery of government. Before that, he was chief secretary to the Treasury, a Brexit minister and served for a short while as a junior health minister in 2018. Delighted to be back at @DHSCgovuk taking up the role of Health & Social Care Secretary. @NHSEngland & social care staff. https://t.co/PaFG8QzmU8 — Steve Barclay (@SteveBarclay) July 5, 2022 The BBC is not responsible for the content of external sites. View original … [Read more...] about Steve Barclay: What will new health secretary tackle first?
By Faisal Islam Published 6 hours ago comments Comments Share close Share page Copy link About sharing All types of household energy bill are now heading above £3,000 a year this winter, say energy industry sources. The rise is 7% higher than the predicted prices on which the government's recently announced cost of living support package was based. The government said it didn't recognise the figures, but added it and Ofgem "keep a close watch on energy prices". National Energy Action said there were "few signs of energy prices becoming affordable this winter". The bleak prediction comes as households are already struggling with rising food and fuel prices. Every UK household is to get an energy bill discount of £400 this October, whilst poorest households will also get a payment of £650. When will households get the £400 energy grant? … [Read more...] about Household energy bills to hit £3,000 per year