News
Interest rates on plan 2 and 3 student loans to be capped at 6%
2+ hour, 8+ min ago (365+ words) Interest rates on plan 2 and 3 student loans will be capped at 6% from September following mounting criticism over the cost of repayments. The UK Government said the move would help deliver stability and protections for graduates amid the prospect of increased…...
UK services industry hit by Iran war as ‘stagflation’ risks increase
4+ hour, 37+ min ago (421+ words) Activity in the UK's services sector slowed last month as business and consumer spending were hit by war in the Middle East while cost inflation accelerated, increasing the risk of "stagflation, according to a new survey. The S&P Global…...
More than 12 million pensioners to receive up to £575 increase from triple lock
2+ day, 19+ hour ago (298+ words) More than 12 million people in the UK will see their state pension increase by up to "575 under the triple-lock guarantee. In line with average earnings growth, the rate will rise by 4.8% from Monday, the Department for Work and Pensions has…...
Poor health costs Welsh economy nearly £20bn a year, report finds
1+ week, 1+ day ago (451+ words) Ill-health and disability that prevent people from working are costing Wales an estimated "19.4 billion a year, according to new analysis from Public Health Wales. The figure includes lost productivity from sickness absence and long-term economic inactivity, as well as wider…...
Consumer confidence ‘collapses’ as Middle East war escalates
1+ week, 5+ day ago (282+ words) Consumer confidence has "collapsed" as the war in the Middle East raises fears of soaring inflation over the coming months, figures show. The British Retail Consortium (BRC) survey by Opinium, taken between March 10 and March 13, shows consumer expectations of the…...
Households could face 8% jump in food prices due to Iran war, experts warn
1+ week, 6+ day ago (377+ words) UK households could face food inflation above 8% within months if disruption caused by the Iran war persists, grocery industry experts have warned. IGD (Institute of Grocery Distribution) said the conflict in the Middle East could result in food inflation more…...
UK inflation steady pre-Iran war but cost-of-living ‘hump’ on horizon
2+ week, 2+ day ago (471+ words) UK inflation is expected to have been broadly steady last month but experts warn of another "twist" to the cost-of-living story in the months ahead, as war in the Middle East is set to send energy bills soaring. The rate…...
Households facing ‘fresh blow to budgets’ as inflation forecasts are hiked
2+ week, 4+ day ago (868+ words) Households are facing the prospect of a more painful squeeze on their wallets from sharper price rises than previously expected. The Bank of England held the base rate at 3.75% on Thursday, with forecasts for UK inflation being hiked. Its Monetary…...
Minister plays down job losses as Chancellor prepares to commit to AI drive
3+ week, 7+ hour ago (462+ words) Embracing artificial intelligence will not lead to job losses "overall, a Treasury minister has said as Rachel Reeves prepares to commit the UK to accelerating adoption of the technology. The Chancellor is expected to pledge the UK to "the fastest…...
Collapse in domestic orders hits manufacturers – report
3+ week, 1+ day ago (188+ words) A collapse in domestic orders is affecting manufacturers on top of rapidly rising costs, according to a new report. Make UK said its research suggested that the sector started the year on a "fragile" footing. The situation is likely to…...