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UK inflation pushed up by petrol and diesel price rises
The rise in inflation means it has moved further away from the Bank of England’s 2% target. The bank uses interest rates to control inflation. The rate currently stands at 3.75% and the Bank of England is meeting on Thursday to decide whether to change it. Prime Minister Andy Burnham said on Wednesday inflation is…
Furlough not perfect but prevented mass unemployment, Sunak says
Michael RaceBusiness reporter PA Media Rishi Sunak has said not all jobs could be saved during the Covid-19 pandemic, but the government was able to prevent mass unemployment. The former prime minister, who was chancellor at the time, said it “wasn’t going to be possible to save every person’s job”. But he said the government…
Insurers told to make travel and home policies easier to understand
Getty Images Storm damage is one area often in dispute Insurers need to do more to improve how they handle claims and make it clearer to customers what their policies cover, the UK’s finance regulator has said. The Financial Conduct Authority (FCA) was responding to a “super-complaint” by consumer group Which? about the home and…
Highest government borrowing in September for five years
UK government borrowing in September hit the highest level for the month in five years, official figures show, highlighting the challenges facing the chancellor ahead of next month’s Budget. Borrowing – the difference between public spending and tax income – was £20.2bn in September, up £1.6bn from the same month last year, the Office for…
