Economy

Saying mini-budget is ‘trickle-down economics’ is leftwing nonsense, says minister | Mini-budget 2022

The leveling up secretary has described the suggestion that the chancellor’s mini-budget will be “trickle-down economics” as leftwing “nonsense”. Simon Clarke made the comments before a tax-cutting budget to be announced on Friday. The rightwing economic theory that cutting taxes for businesses and high earners will enable benefits to “trickle down” into the pockets of …

Saying mini-budget is ‘trickle-down economics’ is leftwing nonsense, says minister | Mini-budget 2022 Read More »

Unprecedented events creating ‘extremely severe’ risk of global recession – economist Adam Tooze | Economics

Adam Tooze has a cult following among economists and historians alike. The famed English economic historian, once hailed by New York Magazine as “Impeccably credentialed, improbably charming“, is in Australia after speaking at Sydney’s Festival of Dangerous Ideas. The decision by the US Federal Reserve to raise its key interest rate by another 75 basis …

Unprecedented events creating ‘extremely severe’ risk of global recession – economist Adam Tooze | Economics Read More »

Who wants Liz Truss’s bonfire of net-zero red tape? Not big business, for a start | Gaby Hinsliff

THEf Liz Truss believes wholeheartedly in one thing, it’s that nobody likes being told what to do. People don’t want to be nagged about their weight, or nudged to eat less and move more. They don’t want to be told what they can say on social media. And above all, businesses want to be free …

Who wants Liz Truss’s bonfire of net-zero red tape? Not big business, for a start | Gaby Hinsliff Read More »

Martin Lewis warns bank customers to make urgent check after interest rates rise

MARTIN Lewis is urging savers to switch bank accounts after the Bank of England hiked interest rates. The founder of MoneySavingExpert.com warned that banks will be less likely to pass the new interest rates on to savers. 1 Martin is urging savers to look for better rates and switch accountsCredit: Rex However, mortgage holders are …

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Aberdeen Arjowiggins subsidiaries administration | HeraldScotland

ADMINISTRATORS have been called in to Arjowiggins Group subsidiaries across the UK. Blair Nimmo and Alistair McAlinden from Interpath Advisory were appointed joint administrators to ten Arjowiggins Group UK subsidiaries today. With origins dating back to 1738, the group is an independent paper manufacturer, producing fine and custom papers for various purposes including graphic design, …

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Japan intervenes to shore up yen as ‘reverse currency wars’ deepen

Japan intervened to strengthen the yen for the first time in 24 years as a trio of European central banks raised interest rates, underlining the disruptive impact of inflation on currencies and monetary policy. Inflation’s rise to multi-decade highs in much of the world has led to sharp increases in borrowing costs, with foreign exchange …

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UK in recession and further interest rate hikes on their way, Bank warns Kwarteng | Mini-budget 2022

The Bank of England has warned Kwasi Kwarteng the economy is in recession and it will most probably need to push interest rates higher following Friday’s tax-cutting mini budget from the chancellor. On the eve of a major package of support from the chancellor designed to break what he called the economy’s “cycle of stagnation”, …

UK in recession and further interest rate hikes on their way, Bank warns Kwarteng | Mini-budget 2022 Read More »