Truss and Sunak clash over tax policy.
Current Affairs
UK CPI inflation reaches 9.4%
June marks the ninth consecutive rate increase.
Wages fall due to cost of living crisis
ONS data shows the fastest rate decline since 2001.
Families receive first cost of living payments
First instalments being paid out from a £37 billion support package.
FCA calls for fair treatment of SMEs
Banks have been told to maintain affordable payment plans.
Economy grows more than expected in May
ONS data shows GDP grew by 0.5%
Footfall for businesses increases
Cost of living crisis persuades consumers to shop around.
New Chancellor takes aim at rising costs
“Nothing is off the table”, according to Chancellor Nadhim Zahawi.
Retail sales fall in May
ONS report shows a drop in food purchases
Inflation rises to 9.1%
CPI rate at the highest level for 40 years.
Bank of England raises interest to 1.25%
Interest rate hits 13-year-high.
Lending trends for SMEs returning to normal
UK Finance report showed uptick in Q1 2022.
Economy contracts in April, figures show
Test and trace decline sees GDP shrink by 0.3%.
Business footfall increases for Jubilee weekend
Overall footfall is still at lower levels than previous years.
Energy price cap to increase in winter
Ofgem boss warns of a rise of nearly £1,000 by October.
Retail sales volume rose in April 2022
Sales volumes in three months to April continue to drop.
Sunak sets out ‘plan for growth’ but falls short of immediate support
Chancellor insists the Government “stands ready to do more”.
UK inflation hits 40-year high of 9%
Macroeconomy now businesses’ number one concern.
Regular pay tumbles in first quarter of 2022
Only growth in bonuses keeps total pay growth positive.
GDP fell by 0.1% in March 2022
Fears of recession as monthly GDP contracts.
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