Britain is poised to sink into recession with biggest financial squeeze since the 1950s, CBI reveals as it warns Government a stagnant economy will be 'set in stone' if it fails to take action ahead of summer recess
The CBI said that with less than 40 days until summer recess, the countdown was on for Prime Minister Boris Johnson (bottom left) and Chancellor Rishi Sunak (bottom right) to take the 'vital actions' needed to avoid a recession. The CBI called for measures including steps to alleviate labour and skills shortages. Rain Newton-Smith (top), CBI chief economist, said: 'This is a tough set of statistics to stomach. War in Ukraine, a global pandemic, continued strains on supply chains - all preceded by Brexit - has proven to be a toxic recipe for UK growth.' The group warned there was a risk that the economy would be a 'distant second' to politics in the coming months because of the cost-of-living crisis, airports struggling to cope, planned national rail strikes and 'Groundhog Day' battles with the EU over the Northern Ireland Protocol. The CBI downgraded its growth outlook to 3.7% for this year, from 5.1% previously, and just 1% in 2023, from 3%
‘I’m 78 and my mortgage repayments will nearly double’
Maurice Latimer, 78, is a pensioner whose mortgage bill is about to jump by 76pc when he refinances at the end of this year.
He is currently on a two-year fixed rate deal at 1.84pc, meaning he pays £401 per month. When his fixed term expires in December, his lender has offered him a new fixed rate at 3.24pc. This means his monthly bill will surge by more than £300 to hit £707.
Britain's cost of living crisis laid bare: Warning that pensioner who heats entire house with a single-bar fire and can only afford to eat toast will freeze to death this winter - as handyman rallies colleagues to help
Shocking photographs shared online show the squalid conditions Irene is living in at her home in Huyton, near Liverpool. One image shows the tiny electric heater she uses to try to heat her entire home after her gas supply was isolated, leaving her without any central heating or hot water. Another grim image shows her surviving on a piece of toast because she has no other means to cook food. Irene's story and the harrowing images of her home were shared online by James Anderson (inset), who appealed to local tradespeople to help the pensioner.
Cost of living crisis: Senior MPs are claiming expenses to help pay for their energy bills.
Senior Conservative and Labour MPs are claiming thousands of pounds of taxpayers’ money to help pay for their energy bills during the cost of living crisis, new figures have revealed.
Nine Cabinet ministers, including the Defence Secretary, Foreign Secretary and Home Secretary, have submitted claims this year as rising gas and electricity prices have squeezed the budgets of millions of households.
Latest figures from IPSA, which handles MPs’ expenses claims, shows that 14 members of Keir Starmer’s shadow cabinet also claimed for energy bills for 2022.
In most cases, the claims are to pay for gas, electricity and water bills at their constituency homes, which is permitted under the parliamentary expenses system.
Some MPs have claimed for energy bills at their London homes, which is also legitimate under the rules.
IPSA says that the expenses are there to allow MPs with seats outside the capital to fund accommodation and associated costs when they are in Parliament as well as in their constituencies. They can only claim for accommodation and bills at one home.
However, the revelation that MPs are getting taxpayer-funded help with energy bills, on top of the government handouts that have gone to every household to meet the rising cost of gas and electricity, will sit uneasily with voters uneasy about the way the expenses system operates.
Cost of living crisis: Senior MPs are claiming expenses to help pay for their energy bills.
Senior Conservative and Labour MPs are claiming thousands of pounds of taxpayers’ money to help pay for their energy bills during the cost of living crisis, new figures have revealed.
Nine Cabinet ministers, including the Defence Secretary, Foreign Secretary and Home Secretary, have submitted claims this year as rising gas and electricity prices have squeezed the budgets of millions of households.
Latest figures from IPSA, which handles MPs’ expenses claims, shows that 14 members of Keir Starmer’s shadow cabinet also claimed for energy bills for 2022.
In most cases, the claims are to pay for gas, electricity and water bills at their constituency homes, which is permitted under the parliamentary expenses system.
Some MPs have claimed for energy bills at their London homes, which is also legitimate under the rules.
IPSA says that the expenses are there to allow MPs with seats outside the capital to fund accommodation and associated costs when they are in Parliament as well as in their constituencies. They can only claim for accommodation and bills at one home.
However, the revelation that MPs are getting taxpayer-funded help with energy bills, on top of the government handouts that have gone to every household to meet the rising cost of gas and electricity, will sit uneasily with voters uneasy about the way the expenses system operates.
Will an MP ever be accused of neglecting to claim the maximum possible financial advantage?
Cost of living crisis: Senior MPs are claiming expenses to help pay for their energy bills.
Senior Conservative and Labour MPs are claiming thousands of pounds of taxpayers’ money to help pay for their energy bills during the cost of living crisis, new figures have revealed.
Nine Cabinet ministers, including the Defence Secretary, Foreign Secretary and Home Secretary, have submitted claims this year as rising gas and electricity prices have squeezed the budgets of millions of households.
Latest figures from IPSA, which handles MPs’ expenses claims, shows that 14 members of Keir Starmer’s shadow cabinet also claimed for energy bills for 2022.
In most cases, the claims are to pay for gas, electricity and water bills at their constituency homes, which is permitted under the parliamentary expenses system.
Some MPs have claimed for energy bills at their London homes, which is also legitimate under the rules.
IPSA says that the expenses are there to allow MPs with seats outside the capital to fund accommodation and associated costs when they are in Parliament as well as in their constituencies. They can only claim for accommodation and bills at one home.
However, the revelation that MPs are getting taxpayer-funded help with energy bills, on top of the government handouts that have gone to every household to meet the rising cost of gas and electricity, will sit uneasily with voters uneasy about the way the expenses system operates.
Civil servants want heating paid for so they can work from home
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The CBI said that with less than 40 days until summer recess, the countdown was on for Prime Minister Boris Johnson (bottom left) and Chancellor Rishi Sunak (bottom right) to take the 'vital actions' needed to avoid a recession. The CBI called for measures including steps to alleviate labour and skills shortages. Rain Newton-Smith (top), CBI chief economist, said: 'This is a tough set of statistics to stomach. War in Ukraine, a global pandemic, continued strains on supply chains - all preceded by Brexit - has proven to be a toxic recipe for UK growth.' The group warned there was a risk that the economy would be a 'distant second' to politics in the coming months because of the cost-of-living crisis, airports struggling to cope, planned national rail strikes and 'Groundhog Day' battles with the EU over the Northern Ireland Protocol. The CBI downgraded its growth outlook to 3.7% for this year, from 5.1% previously, and just 1% in 2023, from 3%
https://www.dailymail.co.uk/news/article-10909553/Anger-interfering-CBI-urges-ministers-ditch-revamp-Northern-Ireland-trade-deal.html
Maurice Latimer, 78, is a pensioner whose mortgage bill is about to jump by 76pc when he refinances at the end of this year.
He is currently on a two-year fixed rate deal at 1.84pc, meaning he pays £401 per month. When his fixed term expires in December, his lender has offered him a new fixed rate at 3.24pc. This means his monthly bill will surge by more than £300 to hit £707.
https://www.msn.com/en-gb/money/other/i-m-78-and-my-mortgage-repayments-will-nearly-double/ar-AA10v3yZ?ocid=msedgntp&cvid=fbfaf5bdd0a94b4b891d63f15d7aface
Shocking photographs shared online show the squalid conditions Irene is living in at her home in Huyton, near Liverpool. One image shows the tiny electric heater she uses to try to heat her entire home after her gas supply was isolated, leaving her without any central heating or hot water. Another grim image shows her surviving on a piece of toast because she has no other means to cook food. Irene's story and the harrowing images of her home were shared online by James Anderson (inset), who appealed to local tradespeople to help the pensioner.
https://www.dailymail.co.uk/news/article-11387999/Merseyside-Pensioner-not-survive-winter-living-squalor-cost-living-crisis-hits-hard.html
Senior Conservative and Labour MPs are claiming thousands of pounds of taxpayers’ money to help pay for their energy bills during the cost of living crisis, new figures have revealed.
Nine Cabinet ministers, including the Defence Secretary, Foreign Secretary and Home Secretary, have submitted claims this year as rising gas and electricity prices have squeezed the budgets of millions of households.
Latest figures from IPSA, which handles MPs’ expenses claims, shows that 14 members of Keir Starmer’s shadow cabinet also claimed for energy bills for 2022.
In most cases, the claims are to pay for gas, electricity and water bills at their constituency homes, which is permitted under the parliamentary expenses system.
Some MPs have claimed for energy bills at their London homes, which is also legitimate under the rules.
IPSA says that the expenses are there to allow MPs with seats outside the capital to fund accommodation and associated costs when they are in Parliament as well as in their constituencies. They can only claim for accommodation and bills at one home.
However, the revelation that MPs are getting taxpayer-funded help with energy bills, on top of the government handouts that have gone to every household to meet the rising cost of gas and electricity, will sit uneasily with voters uneasy about the way the expenses system operates.
https://www.msn.com/en-gb/money/other/civil-servants-want-heating-paid-for-so-they-can-work-from-home/ar-AA14iHQr?ocid=msedgntp&cvid=4410fdd2cbd4400f81304d7da4530187