News Archive
21/7/2024
UK Soldiers Test Next Generation Of Body-worn Technology
Major advances have been made in body-worn technology for UK soldiers, improving their operational advantage. Major advances made in body-worn technology for UK soldiers.
21/7/2024
Chancellor Vows Big Bang On Growth To Boost Investment And Savings
Landmark pensions review part of Government's mission to ‘boost growth and make every part of Britain better off'. Chancellor launches landmark review to boost investment, increase pension pots and tackle waste in the pensions system.
20/7/2024
Russia's War Threatens Food Security - UK Statement To The OSCE
Justin Addison, UK Delegation to the OSCE, tells the OSCE's Economic and Environmental Committee (EEC) that Russia is prioritising its own aims above global food security. The UK delegation would like to thank the Austrian chair of the EEC for convening this session to discuss food security.20/7/2024
What Is The Average Retirement Income In The UK?
Sam Curtis at The Private Office web site look sat retirement income and what can be expected. On face value the question of ‘what is the average' is a simple one, the answer is £561 per week (£29,172 p.a.) for a retired couple and £267 per week (£13,884 p.a.) for a single retiree as per the most up to date Government Pensioners' Income figures.20/7/2024
Worse Than Expected Government Borrowing Serves As A Reminder To The New Chancellor Of The Fiscal Challenges Ahead
Higher spending has left government borrowing £3.2 billion higher than the OBR's last forecast three months into the new financial year, highlighting the scale of the fiscal challenge facing the new Chancellor ahead of her first Budget this Autumn, the Resolution Foundation said on Friday 19 July 2024. The latest ONS data showed that borrowing was £14.5 billion in June - down on last year, but up £2.9 billion compared to the OBR’s last economic outlook back in March.20/7/2024
Unlocking Fresh Business Talent In Scotland
Expanded support to close the gender gap and attract the next generation of entrepreneurs. Up to £2.6 million is being invested in initiatives to make it easier for women and people from all backgrounds to start a business.20/7/2024
Enjoy The Dream Condition For Savers While It Lasts!
According to data from the newswire, Newspage, the Bank of England has only managed to keep inflation at its target for 30 percent of the time since it gained independence in 1997. So, it was good news to see that the headline inflation rate, as measured by the Consumer Prices Index (CPI) has remained at target for another month.20/7/2024
Election Season - Is A Shift To The Left, Right For Markets?
Daniel Douglas-Wright writing at The Private Office. In last month's update we touched upon the French and British general elections, however at the time of writing the UK election hadn't yet taken place and the French election had only passed its first round.
20/7/2024
A Damning Report From The Covid Enquiry - The Resilience And Preparedness Of The United Kingdom
The UK Covid-19 Inquiry is an independent public inquiry examining the response to, and impact of, the Covid-19 pandemic, to learn lessons for the future. The scale of the pandemic was unprecedented; the Inquiry has a huge range of issues to cover.
20/7/2024
PM Meeting With President Zelenskyy Of Ukraine
The Prime Minister welcomed President Zelenskyy to Downing Street on 19 July 2024, the first foreign leader to visit No10 during this government. The Prime Minister welcomed President Zelenskyy to Downing Street this morning, the first foreign leader to visit No10 during this government.
19/7/2024
Scottish Secretary Responds To Labour Market Stats For July 2024
Ian Murray says government is wasting no time to deliver change for people across the UK. Responding to the latest Labour Market Statistics published this morning Scottish Secretary Ian Murray said: "These worrying figures reflect the economic situation this government has inherited, but we're wasting no time to deliver change for people across the UK.
19/7/2024
Government Introduces New Fiscal Lock Law To Deliver Economic Stability And Protect Family Finances
New law bringing economic stability introduced to the House of Commons following the King's Speech. New law to deliver economic stability by ensuring that no future Government can sideline the Office for Budget Responsibility (OBR).19/7/2024
UK Wage Growth Still Too Hot To Handle For The Bank Of England
Real wages are growing at their fastest rate outside of the pandemic in over a decade. This is welcome news for workers, but less so for monetary policy makers looking for signs of inflationary pressures, the Resolution Foundation said on Thursday.19/7/2024
June Retail Sales - Worse Than expected
The Office for National Statistics has reported retail sales figures in Great Britain for June: Retail sales volumes fell by 1.2% in June 2024 following a rise of 2.9% in May. Non-food store sales volumes fell by 2.1% in June, Food fell by 1.1%.19/7/2024
Ramping Up Of Net Zero Transition Must Be Done In A Way That Supports Poorer Households Living Standards
Commenting on the Climate Change Committee's latest UK Progress Report, Jonny Marshall, Senior Economist at the Resolution Foundation, said, "As well as setting out why the new government needs to be massively ramp up progress on net zero, this report sets out clear priorities on how to do this. "Lowering the cost of electricity will play a key role in fast-forwarding the net zero transition - making heat pumps and electric cars cheaper to run, but potentially increasing household gas prices.19/7/2024
The Budget Responsibility Bill
The Government has introduced to Parliament the Budget Responsibility Bill and published a draft update to related provisions of the Charter for Budget Responsibility. The Bill would amend the 2011 Budget Responsibility and National Audit Act and require any fiscally significant measures announced by the Government to be accompanied by an independent assessment by the OBR, except in certain circumstances.19/7/2024
Falling Inflation For Food And Clothing
Responding to the latest CPI inflation figures, which show headline inflation remaining at 2.0% and food inflation falling 0.2 percentage points to 1.5%, Kris Hamer, Director of Insight of the British Retail Consortium, said: "While headline inflation remained at 2.0%, households will benefit from falling inflation rates in retail, with Food and Clothing & Footwear both dropping compared to last month. Falling energy prices and a stronger pound combined with fierce competition between retailers are helping to bring down prices for many goods, including essential items like pasta and margarine.19/7/2024
How Have Pensioner Incomes And Poverty Changed In Recent Years?
Average pensioner incomes and pensioner poverty. Before, and during, the Great Recession, average pensioner incomes were catching up with working-age incomes.
19/7/2024
IFS Response To New Government's Fiscal Lock
Ben Zaranko, Senior Research Economist at the Institute for Fiscal Studies said, "The new government's ‘fiscal lock’ is broadly sensible but largely performative. It is, in effect, a rather theatrical way of promising not to do another Mini Budget - or at least not to do another Mini Budget without some accompanying independent analysis from the Office for Budget Responsibility.19/7/2024
