British Economy

Net zero taxes on groceries will increase food bills for the British public by an estimated £4 billion per year, retailers have warned.

The public should “accept that they’re worse off” than they were a year ago amid rampant inflation, an ivory tower Bank of England boss said.

Millions of UK taxpayers face being placed in higher tax brackets as a result of the fiscal drag caused by the “deep freeze” on tax bands.

The Silicon Valley Bank fallout went international with UK and European lenders seeing nearly £30 billion wiped off their portfolios

A swelling state means dependency on handouts is at the highest level ever, with 54% of UK households ‘putting in’ less than they get out.

Food inflation in Britain hit its highest rate in history in December, as Christmas spending soared while consumers actually took home less.

Rishi Sunak drew criticism for his first major speech of the new year, in which he laid out his vision for a “better future” for Britain.

Under the so-called Conservative Party, the British public saw their tax burden rise at the second-highest rate among G7 nations in 2021.

Real wages in Britain are not expected to return to 2008 levels until 2027 due in part to the financial mismanagement of the Tory government.

Real household disposable income is likely to fall by over seven per cent over the next two years in Britain, despite claims from finance minister Jeremy Hunt that his budget will bolster the economy.

Britain’s finance minister said that Britons must “face into the storm” as he announced a swath of new taxes and spending cuts, supposedly to shore up the nation’s finances while somehow still stimulating growth, as the country faces the prospect of the longest recession in recorded history.

Britain’s Treasury chief Jeremy Hunt warned of spending cuts and tax increases for cash-strapped Britons despite a looming recession.

Britain may have already entered a recession as the latest economic figures showed that the economy contracted in the reporting quarter between July and September.

The looming recession set to befall the United Kingdom by the winter will last until at least 2024, according to analysts at Goldman Sachs.

The right-populist Reform Party, formerly the Brexit Party, wants “wartime” measures to stabilise the energy crisis, calling on the government to “take control of UK energy production pricing” in order to bring down prices for consumers.

Britain’s inflation rate rose to a new 40-year high of 10.1% in July, a faster pace than in the U.S. and Europe.

Households in the UK are reportedly facing the prospect of days of blackouts in the winter under an emergency energy rationing scheme.

Foreign Secretary Liz Truss’ plan to cut taxes if elected Prime Minsiter would be “electoral suicide”, claimed Deputy PM Dominic Raab.

The UK will see inflation such on an “astronomical” scale that the savings of millions will be wiped out by the high cost of living and taxes.

Real wages saw their sharpest decline on record in Britain when considering inflation, the ONS revealed on Tuesday.

In an example of a tangible benefit of leaving the European Union, the United Kingdom is planning on cutting import tariffs on food products.

Inflation for groceries rose to the highest level since the 2008 financial crisis in Britain, meaning shoppers will spend £380 more per year.

Thousands of people marched through central London on Saturday in a protest over the soaring cost of living in Britain.

Inflation rose to the highest level in 40 years in Britain last month as the war in Ukraine fueled further increases in food and fuel prices.

Inflation in the United Kingdom has risen to the highest level in 30 years last month, spurred on by the spiralling costs of fuel, which saw the sharpest spike in prices since records began. According to the Office for National

Inflation in the UK has resulted in basic wages “falling noticeably” in real terms, the Office for National Statistics reported on Tuesday.

The British government has reportedly approved the sale of the UK’s largest microchip factory to a firm tied to the Chinese Communist Party.

The growing cost of living crisis in Britain has seen grocery price inflation hit its highest level in ten years.

Prime Minister Boris Johnson condemned the “callous” behavior of P&O Ferries and said the company appeared to have broken British labor laws.

The Bank of England has warned that inflation could hit 8 per cent by as early as next month as it raised interest rates on Thursday.

British wages have seen the sharpest decline in real terms since 2014 as the impact of inflation grips the nation, the ONS said on Tuesday.

The price of whole gas jumped to four times the cost in January in Britain compared to last year, contributing to the cost of living crisis.

Average British households will pay more than £1 million during their lifetime in taxes to the government, equal to eighteen years of work.

A majority of women have remained childless in Britain past their thirtieth birthday for the first time in recorded history.

Inflation has nullified increases to wages in Britain last year, with workers experiencing a decline in pay in real terms in November.

The inflation rate in Britain has hit the highest level in a decade as the cost of living has soared as a result of rising energy prices.