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Showing posts matching the search for cost of living crisis

Martin Lewis: Energy Price Guarantee rise would be 'act of national harm'

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Martin Lewis: Energy Price Guarantee rise would be 'act of national harm' If the price rises in April, it's not firms, it's not regulators, it is the government putting people's prices up. Well, I wrote to the Chancellor three weeks ago, asking him to not increase the rise, the energy price guarantee in April by 20% as planned, for all the reasons that have just been outlined there. And most importantly, what you have to understand is if we do increase it, it would result in an act of national mental health harm. People have been battered by successive rises in energy bills, 14% rises in broadband, 7% in water, 5% in council tax. And for the sake of just three months, and you heard the explanation of why it's just three months there, to send millions of people another letter is bad for people's finances. It's bad for people's state of mental health....

UK Inflation Falls But Still Among Highest of Major Economies

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UK Inflation Falls But Still Among Highest of Major Economies Summary: UK inflation remains high, causing financial strain for millions of households. Families face rising prices for essential items, while wages lag behind. Housing costs are adding to the burden, with mortgage rates on the rise. Supermarkets face criticism for not passing on cost cuts to consumers. Government efforts to tackle the cost of living crisis face scrutiny and demand for more action. Millions of hous...

Jacob Rees-Mogg Slams BBC's 'Lumbering' and Demands Accountability After Apology to Nigel Farage

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Summary: Jacob Rees-Mogg believes there is a real chance for the Conservative Party to succeed by prioritizing voters' interests. He criticized the net zero concept and argued for an affordable and practical approach to improving the environment. Rees-Mogg highlighted the pressing issue of the cost of living crisis and questioned policies that burden citizens with extra costs. The BBC issued an apology to Nigel Farage, drawing criticism from Rees-Mogg for its delayed response and bureaucratic operations. Rees-Mogg called for transparency regarding the source of the misleading information and emphasized the importance of institu...

Conservatives lose Selby and Ainsty to Labour in Record-Breaking Win

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Conservatives lose Selby and Ainsty to Labour in Record-Breaking Win Summary: Labour secures a historic win in the Selby and Ainsty by-election, defeating the Conservatives. The new MP, the youngest in the Commons, faces challenges in relating to younger voters' issues and tackling the cost of living crisis. Residents hope the fresh representation will bring solutions to economic challenges and resource deficiencies. Labour marks a historic victory in Selby and Ainsty, Yorks...

Sadiq Khan gets green light for ULEZ expansion as councils lose legal challenge | ITV News

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Summary: London Mayor Sadiq Khan 's plan to extend the city's ultra-low emission zone (ULEZ) has been ruled lawful. The expansion of ULEZ means more polluting vehicles will face a daily charge, aiming to reduce pollution and improve air quality . Protesters expressed unhappiness with the decision, and Tory-led councils ' challenge to stop the ULEZ expansion was rejected. The policy has been controversial, and its impact on the cost of living and businesses has caused a split within the Labour Party . The issue of green policies has become a dividing line between political parties as the general election approaches. ...

Energy Profits: British Gas Sees 889% Soar in Profits, Amidst Cost of Living Crisis

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Summary: Centrica , the owner of British Gas , reports a profit of £2.1 billion, nearly double the previous year's figures. British Gas profits have seen a tenfold increase, with £969 million in the past year. The significant profits have been attributed to changes in the price cap imposed by off-gem. Consumer groups argue that the regulatory system for energy suppliers needs an overhaul to promote competition and fair pricing. The privatized utilities sector continues to face debates on what constitutes a fair price and reasonable profit. ...

Ofgem energy price cap falls - but average household bills still expected to rise

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Ofgem energy price cap falls - but average household bills still expected to rise The energy watchdog has reduced the energy price cap to £3,280 effective from 1 April. It's currently £4,270. Despite this, bills are still expected to rise by 20% because the Government's energy price guarantee, which caps House or bills at £2,500 annually, will rise to £3,000. The Chancellor, Jeremy Hunt, is facing calls from opposition parties to keep the support at the current level in his spring budget next month. Let's get more on that, should we? And Goprit is here with us. So the ceiling's come down, but our bills are still going to go up. Yeah, it's a bit complicated. But when you add up all the numbers, actually the result is that households and businesses are worse off as a result of it. So this should be good news. Of jam set, something called the energy price cap. It li...

Should Prince Andrew Get His Taxpayer-Funded Security Back?

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Summary: Prince Andrew seeks to regain taxpayer-funded security after losing it due to his civil sex assault case brought by Virginia Giuffre . Former Home Secretary Priti Patel 's suggestion of a security review for Prince Andrew sparks debate. Duncan Larkham argues for reinstating security due to Andrew's royal status and potential security risks . Ava Santina questions the appropriateness of taxpayers bearing the cost and compares Andrew's situation to that of other public figures. The discussion delves into the royal family's m...

Green Energy: UK installs record number of heat pumps and solar panels

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Summary: UK sees record number of heat pump and solar panel installations, averaging over 20,000 per month. Government offers up to £5,000 in incentives for renewable energy installations. Investment of £6.6 billion has upgraded 2.5 million homes, with 47% rated C or above. Goal of 600,000 heat pump installations per year by 2028. Debate continues over adequacy of government funding for reaching net zero targets by 2050. ...

Cost of Living Crisis: Halifax Joins Rivals in Cutting Mortgage Rates

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Summary: Halifax , the UK's biggest mortgage lender, is reducing rates by up to 0.71 percentage points. HSBC and other major banks have also announced rate cuts in response to rising mortgage rates. The reduction in rates provides relief to homeowners and potential buyers, especially for fixed-rate deals. The move is influenced by expectations of Bank of England rates and inflation trends. Mortgage rates have been on the rise due to consecutive interest rate increases by the Bank of England . Recent decrease in inflation offers optimism about possible rate stabilization. Mortgage companies are aiming to attract customers by ...

Are Consultants Selfish for Going on Strike? Fiery Clash Over Industrial Action

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Summary: Consultants in England are on a two-day strike over pay issues, with plans for more walkouts. Dr. Amid Hankari emphasizes the need for fair pay that reflects the hard work and sacrifices of doctors. The debate covers consultant earnings, economic context, patient impact, mental health care, and the NHS funding model. Patrick O'Flynn highlights concerns about strikes undermining public support for the NHS . ...

Wilko Goes Into Administration: UK Retailer Faces Uncertain Future

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Summary: Wilko , a long-standing discount retail er, has been forced into administration due to financial challenges and declining revenue. Despite borrowing and selling assets, the company was unable to overcome its debt burden, leading to its collapse. Administrators assure that operations will continue for now, and employees will be paid, while efforts to find a buyer are underway. Criticism is directed at management for paying dividends while the company faced losses, leaving loyal employees devastated. Operational difficulties, including supply and cash flow issues, contributed to Wilko 's struggles in a competitive mark...

Interest rates: Banks not passing on £23bn to savers

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Interest rates: Banks not passing on £23bn to savers Work no longer pays what it used to. Inflation is eroding our earnings and banks aren't passing on higher interest rates to savers. Pensioners like Carol say their money isn't working as hard as it used to. I've been trying to create a financial buffer. And every time I get a little bit saved, something happens. So that's going to be at the moment the cost of living crisis. If I want to actually have a life, I have to work. Back in December 2021, the Bank of England's interest rate stood at just 0.1%. With the average savings rate on the high street at 0.2%. But while the Bank of England has since hiked its main interest rate to 4%, average savings rates among high street banks have only risen to 1.88%. It means that those with £30,000 of savings only stand to make £569 in interest each year. That's less ...

Train strikes: RMT Boss says pay offer 'not acceptable'

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Train strikes: RMT Boss says pay offer 'not acceptable' Well, the R&T General Secretary, Mick Lynch, joins me now. A very good morning to you, Mick Lynch. First of all, just how much support do you expect to have for the walkout today? Just how disruptive will this strike be? Well, our members will be out all over the country. They'll be on picket lines up and down the rail network. We've had a very strong mandate to renew our action in the last week or so, a nine-to-one vote on a heavy turnout. So our members are up and down the picket lines, taking the action as instructed by the union and as voted for by them. And so the action is solid, and it will be as long as this campaign goes on. People watching will know that this dispute has been going on for a long time. How close are you now to a resolution? Well, we had an offer put to us, the second or third offer,...

King Charles: Taxpayers to Foot Bill for Monarch's Hefty Pay Rise

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King Charles: Taxpayers to Foot Bill for Monarch's Hefty Pay Rise Summary: The UK government plans to increase public funding for the monarchy by 45% from 2025. The increase will raise the Royal Family's grant from 86 million to 125 million, with a focus on salaries and Buckingham Palace refurbishment. Supporters argue that a constitutional monarchy serves as a unifying force and a diplomatic asset, but critics view it as excessive and potentially fueling Republican sentiments. King Charles has shown promise as a monarch, following the beloved Queen Elizabeth II, but public sentiment remains mixed. ...

Spotify Raises Premium Subscription Price for Millions

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Summary: Spotify is raising its subscription prices for the first time in over a decade. The price hike will affect 200 million subscribers in the US, UK, Canada, Australia, and 49 other countries. Other streaming services have also increased their subscription costs, reflecting the industry's pursuit of profitability . Users may consider downgrading to the ad-supported version or exploring alternative streaming providers. Competition and customer preferences will play a significant role in determining the success of this price increase . ...

Windsor Framework has received a 'cautious welcome' in Northern Ireland

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Windsor Framework has received a 'cautious welcome' in Northern Ireland All right, let's get the view now of Michelle O'Neill, because this time last week all the talk was of the PM's deal with the EU over the Northern Ireland protocol. This seemed to get a decent enough reaction from most parts, but of course the big question is what do the DUP do, the largest unionist party in Northern Ireland? They say they won't rejoin power sharing if they're not happy. Well, the largest party at Stormont is Shinfeng, and its leader there would have been First Minister. That's Michelle O'Neill. She joins us live now. Thank you very much for being on the programme this morning. Has Rishi Sineq negotiated a good deal for Northern Ireland? Well, I think we've all had the best part of a week now to reflect on the deal, and I think it's fair to say that the ...