Scunthorpe Steel Furnaces May Cost Taxpayers Over £1.5bn by 2028
The National Audit Office warns that keeping British Steel's Scunthorpe blast furnaces running could cost taxpayers over £1.5bn by 2028, despite saving jobs and industrial capacity.
Category : Economy
Brits 'Mistaken' About Major Debt Causes Affecting Half
New research reveals Britons significantly underestimate the leading causes of debt, with unemployment and health issues topping the list. StepChange charity urges action during Debt Awareness Week.
Food Prices to Surge Fastest in Four Years Due to Iran War
The Middle East crisis is predicted to cause the largest spike in food prices since Russia's invasion of Ukraine, with an 'inflationary wave' expected to peak in autumn. Producers warn of empty supermarket shelves and urge supermarkets to intervene.
British Expats Fleeing Middle East War Face UK Tax Bills
Thousands of British nationals evacuated from the UAE due to the Middle East conflict risk large UK tax bills if their return pushes them over the 183-day residency threshold.
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US-Iran War May Cause Major Food Price Spike, NFU Warns
The National Farmers' Union warns that the Middle East conflict could cause the largest food price increase since the Ukraine war, with producers fearing empty supermarket shelves.
DWP £560 Payments: Eligibility Check for 5 Groups
Families urged to use online tools to claim up to £560 monthly in unclaimed benefits. Nationwide's Better Off Indicator helps identify DWP and council support for eligible groups.
Economists Urge Rachel Reeves to Scrap Inheritance Tax
A major report brands Britain's inheritance tax as one of the harshest in the Western world, calling for abolition to boost growth and support families.
Thames Water Creditors Pledge £3.4bn in Rescue Bid
Creditors have proposed injecting £3.35 billion in new equity and up to £6.55 billion in debt to rescue Thames Water, with talks ongoing and no final decision made.
Thames Water Creditors Pledge £3.4bn in Enhanced Rescue Bid
London & Valley Water offers £3.35bn in new equity and up to £6.55bn in debt to rescue Thames Water, with talks ongoing and regulators reviewing the improved proposal.
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Poland's Economic Miracle: From Ruins to Global Powerhouse
Poland's economy has surged from post-Communist poverty to become the world's 20th largest, offering key lessons in prosperity through EU integration, institutional reform, and entrepreneurship.
Poland's Rise from Ruins to World's 20th Largest Economy
Poland's economy has surged from post-Communist poverty to over $1 trillion in output, becoming the world's 20th largest. Key factors include EU integration, institutional reforms, and entrepreneurship, though challenges like an aging population persist.
Kohler Warns of Rate Hike and Recession Risk from Hormuz Crisis
ABC money expert Alan Kohler predicts an interest rate rise tomorrow, warning Australia could slide into recession due to the unprecedented closure of the Strait of Hormuz.
British Steel Losses Soar to £1.3m Daily Under Government
National Audit Office report shows British Steel losses have doubled to £1.3 million per day since government takeover, with taxpayer bailout potentially reaching £1.5 billion by 2028.
LA Gas Station Charges Over $8 Per Gallon Amid Conflict
A Chevron station in Los Angeles charges $8.31 per gallon, far above the city average of $5.37, as global tensions drive fuel prices higher. Experts explain the legal and economic factors behind such extreme pricing.
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UK Families to Get £440 Monthly Boost from Universal Credit Changes
Around 500,000 households with three or more children on universal credit will receive an average extra £440 per month from April, providing a timely cushion against economic shocks.
Pensioners Urged to Opt Out of Winter Fuel Payment by April 1
Consumer expert Rebecca Wilcox advises pensioners earning over £35,000 to opt out of Winter Fuel Payments from April 1 to avoid double repayments through tax codes.
UK Rate Cut Hopes Dashed as Middle East Conflict Fuels Energy Price Surge
The Bank of England is widely expected to hold interest rates at 3.75% next week, reversing earlier forecasts of a cut, as escalating Middle East tensions drive up oil and gas prices, threatening to reignite UK inflation.
BOE Rate Cut Off Table Amid Middle East Conflict, Economists Say
Economists predict the Bank of England will keep interest rates unchanged at 3.75% in March, with future cuts uncertain due to soaring energy prices from the Iran war.
Inflation Could Hit 5% as Middle East Crisis Fuels Oil Price Surge
Treasurer Jim Chalmers reveals Treasury is modelling economic fallout from Middle East conflict, warning inflation could reach 'mid to high fours' if oil prices remain elevated, though recession is not forecast.
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Inheritance Tax Alert: Frozen Allowances Cost Families Extra
HMRC's inheritance tax rules, unchanged for decades, are pulling more people into the 40% tax net. Key allowances frozen since 2009 and 1981 could cost estates thousands as inflation rises.
Labour's Fuel Duty Hike to Cost Families £156 Annually
Conservative analysis reveals Labour's planned 5p per litre fuel duty increase will add £156 yearly to family bills, as Iran conflict disrupts oil supplies and pushes petrol prices to 18-month highs.
Reeves' Options Dwindle as Iran Crisis Imperils UK Economy
Labour MPs fear Chancellor Rachel Reeves is running out of options to prevent a recession triggered by the Iran conflict, with soaring oil prices and fiscal constraints limiting her ability to support households.
Uber Founder Flees California for Texas Before Wealth Tax
Travis Kalanick has relocated to Texas, joining Elon Musk and other wealthy entrepreneurs leaving California as the state proposes a controversial billionaire tax that could take effect retroactively in 2026.
Middle East Conflict Fuels UK Cost and Supply Chain Disruptions
Rising oil prices and Middle East tensions are impacting UK households and businesses, causing higher costs for goods, services, and travel, alongside delivery delays and cancellations.
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Judge Blocks DoJ Subpoena of Fed Chair Jerome Powell
A federal judge has halted a Justice Department investigation into Fed Chair Jerome Powell, citing evidence it was a pretext to pressure the central bank on interest rates.
NHS and MoD Urged to Buy British AI Tech Amid Crisis
Treasury minister Spencer Livermore announces a push for the NHS and Ministry of Defence to purchase British AI technology to drive growth, as Chancellor Rachel Reeves outlines economic strategy amid the Iran crisis and global uncertainty.
Americans Struggle with Costs Despite Trump's Economic Claims
US workers face rising prices and stagnant wages, contradicting President Trump's assertions of a booming economy. Exclusive data reveals widespread financial hardship.
Six Financial Impacts of Iran War on UK Households Beyond Fuel
An escalating Iran conflict threatens UK finances through inflation, trade disruptions, and market volatility, with experts warning of broader economic fallout.
Wealthy Britons Flee Gulf, Avoid UK Over Tax Fears
High-net-worth individuals leaving Gulf countries amid Iran-US tensions are opting for European destinations instead of the UK to avoid significant tax bills, with advisers warning HMRC will not be sympathetic.
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Middle East War Hits UK Households with Rising Costs
The ongoing conflict in the Middle East is driving up expenses for British families, impacting mortgages, fuel, energy bills, and holidays, with experts warning of prolonged financial pressure.
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