Inflation

Sunak launches largest tax raid in 44 years, as 1 out of 5 Brits to pay higher-rate income tax by 2027

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Rishi Sunak has launched the largest tax raid in 44 years, with one in every five taxpayers expected to be in the higher-rate income tax band by 2027. The Prime Minister and his Chancellor, Jeremy Hunt, recently stated that income tax thresholds will be frozen, despite the fact that the levy typically rises in accordance … Read more

Bank of England RAISES interest rates to 4.5 percent for 12th TIME in a row

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The Bank of England raised its base rate to 4.5 percent, warning that inflation will decline more slowly than originally anticipated. The central bank has raised interest rates for the 12th time in a row in an effort to slow price increases. The Bank of England has set an inflation target of 2%, yet it … Read more

Brits should ‘start accepting they’re poor’ says Bank of England boss getting £190K salary

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A Bank of England boss earning £190,000 per year has said that British families must “accept that they’re worse off” as inflation rates rise. Huw Pill, the Bank’s senior economist, stated that Britons should cease demanding pay raises that drive up costs. According to Pill, the economy is playing “pass the parcel” as families and … Read more

Retired Brits to receive HIGHEST INCREASE in State Pension – but there’s a catch

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Retirees will receive their highest increase in state pension payments beginning today, but claimants will still be worse off. Retirees will now be entitled to £203.85 per week, up from £185.15 under the state pension triple lock, which sees payments rise by the highest of inflation, average earnings, or 2.5 percent. This equates to a … Read more

Bank of England admits UK finances are experiencing ‘heightened tension and alertness’

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The Bank of England Governor Andrew Bailey warned MPs today that the country is in a “period of very heightened tension and alertness.” The failures of Credit Suisse, Silicon Valley Bank, and Signature Bank in the last two weeks have raised widespread fears of a financial crisis. But, in appearing before the Treasury Select Committee … Read more

Cost of Living: Mortgage rates surge 27% as cheap deals scrapped

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Mortgage repayments have increased by 27% on average for borrowers whose contracts expired between September and February. The last of the ultra-low borrowing rates is expected to cost the economy £24 billion this year. According to mortgage broker London Money, which examined nearly 200 clients whose old fixed-rate deals had expired, the average monthly repayments … Read more