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 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 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
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.
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 fell on Thursday after Labour minister Stephen Kinnock conceded that the British economy is in a state of “stagnation”, following disappointing growth figures.
State Pension Set for £560 Rise Next Year, Adding Pressure on Reeves
The UK economy is teetering on the edge of stagnation as households boost savings to record levels outside of the pandemic era.
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
Official data show that retail sales declined sharply last month as consumers reined in spending ahead of Rachel Reeves’s Budget announcement.
Drivers may soon pay over 150p per litre for fuel following substantial price increases, raising concerns about potential profiteering at petrol stations.
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.
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%.