News

Experts warn of recession risk

Economy

The UK economy is at an increasing risk of falling into recession as soaring inflation hits consumer spending power, experts have warned, saying slowing post-lockdown growth and rising living costs could see GDP fall for two consecutive quarters. Analysts say GDP is on track to grow by about 1%...

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Inflation set to hit 30-year peak

Maketing

New data from the Office for National Statistics is expected to show this week that inflation has hit a 30-year high. Analysts say the ONS will reveal inflation rose half a percentage point to 6.7% last month – the highest level of CPI inflation seen since March 1992, when...

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Wages up but below inflation

Finance, Maketing

UK wage growth failed to keep up with the rising cost of living between November and January, data from the Office for National Statistics shows, with pay down 1% from a year earlier when price rises were taken into account. While regular pay, excluding bonuses, grew by 3.8% between...

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HMRC denies it is soft on fraud

Uncategorized

HM Revenue and Customs has responded to the assertion in a report from the Public Accounts Committee (PAC) that inaction over tracking down fraudulent claims for Covid support risked “rewarding the unscrupulous”. Meg Hillier, who chairs the committee, said: “The level of fraud and error in furlough that employers...

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Unemployment falls by 184k to to 4.1%

Jobs

Unemployment dropped by 184,000 between September and November, taking the rate from 4.5% to 4.1%. The Office for National Statistics report shows that the number of people on the payroll increased to 30m, while the employment rate hit 75.5%. The number of job vacancies in the three months to...

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Inflation set to hit record high

Economy

Inflation will reach its highest level on record this year, new research by City analysts suggests. Soaring energy bills will see the rate hit 6.8% in April, according to Goldman Sachs, with analysts at the bank warning that inflation could climb further if the Omicron coronavirus variant adds to...

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