UK households are set to face a sharp rise in energy costs after Ofgem increased the energy price cap by 13% amid soaring wholesale oil and gas prices linked to
UK households face £209 rise in annual energy bills
UK household energy bills are forecast to rise sharply from July, with consultancy Cornwall Insight predicting the annual energy price cap will increase by £209 to around £1,850 for a
UK borrowing surges to record high as spending balloons
Record growth in public sector pay and rising welfare costs have pushed government borrowing to its highest annual level outside the pandemic, according to official figures.
Ofgem Weighs Plan to Write Off £500m in Energy Debt for Struggling Households
The UK energy regulator Ofgem is considering a proposal to cancel up to £500 million in unpaid energy debt owed to suppliers, as part of efforts to tackle a growing
UK Stocks Slip as Minister Admits Economy Is in ‘Stagnation’
UK stocks fell on Thursday after Labour minister Stephen Kinnock conceded that the British economy is in a state of “stagnation”, following disappointing growth figures.
UK State Pension Expected to Climb £560 Under Triple Lock
State Pension Set for £560 Rise Next Year, Adding Pressure on Reeves
UK Economy Teeters on Stagnation as Cautious Households Stockpile Cash
The UK economy is teetering on the edge of stagnation as households boost savings to record levels outside of the pandemic era.
UK Treasury borrowing is set to exceed projections by £63bn.
A leading think tank has warned that the Treasury is on course to overshoot public borrowing forecasts by £63bn compared to estimates made before Labour came to power as Chancellor
UK Budget blamed for decline in retail sales
Official data show that retail sales declined sharply last month as consumers reined in spending ahead of Rachel Reeves’s Budget announcement.
Petrol prices set to increase, impacting millions of drivers.
Drivers may soon pay over 150p per litre for fuel following substantial price increases, raising concerns about potential profiteering at petrol stations.
Concerns over inflation rise with a 3p increase in petrol prices
In just three weeks, petrol prices have surged by 3p, sparking inflation worries for the Chancellor ahead of next month’s Budget announcement, according to recent data.
In September, petrol prices increased by 5.1p per litre.
Between August and September, the average petrol price increased by 5.1p per litre, as reported by the Office for National Statistics, keeping inflation steady at 6.7%.