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OBR productivity forecast may add £20bn to Budget hole
Posted onThe government is facing a bigger-than-expected hole in the public finances as it prepares for next month’s Budget. A downgrade to the UK’s productivity performance from the government’s official forecaster could lead to the chancellor facing a £20bn gap in meeting her tax and spending rules, the BBC understands. Rachel Reeves has confirmed both tax…
Why this month’s inflation figure matters for you
Posted onLucy HookerBusiness Reporter Getty Images The cost of living is always important to our finances, but this month what is happening to prices will have a particular extra impact for millions of people. The September inflation figure reflects what has been happening to prices over the past year, and will affect how far your money…
Lush co-founder takes pride in being a woke nerd
Posted onPritti MistryBusiness reporter Lush Most companies and bosses would squirm at the idea of being called “woke” and may even regard it as an insult. But not Mark Constantine. Lush’s outspoken co-founder and chief executive wears it like a badge of honour and is not ashamed of turning it into a business philosophy. The firm…
Jerome Powell: World central bank chiefs declare support for US Fed chair
Posted onCentral banks across the world have joined together to declare that they stand in “full solidarity” with the Federal Reserve’s chair after the US launched a criminal investigation into Jerome Powell. The heads of the Bank of England, the European Central Bank and the Bank of Canada are among 11 senior bankers who have signed…
Americans struggle as gas prices surge amid Iran war
Posted onOne month into the Iran war, US petrol prices are beginning to hurt consumers at the pump. Iran has effectively closed off the Strait of Hormuz, one of the world’s busiest oil shipping channels, since the US and Israel attacked it on 28 February. And it means the average price of petrol at the pump…
