The climate and cost of living crises make belief in expanding GDPs look as stale as last year’s mince pies. But when central governments rely on consumerism to shore up spending, it will be hard for ‘degrowth’ to gain any tractionWhen Kat Butler made her first post-lockdown trip to the high street in 2021, she found herself staring, disorientated, at the aisles of clothes in the Perth branch of Mountain Warehouse. “There was just rails and rails of stuff,” she says.Before the pandemic, Butler, 36, a freelance graphic designer, had enjoyed browsing clothes shops, touching the fabrics and inspe[...]
No trains will run on East Midlands and LNER services from London to Scotland will have a limited serviceRail passengers face severe disruption this weekend as two 24-hour strikes by train drivers from different companies halt many long-distance routes.Saturday’s strikes by members of the Aslef union at LNER and East Midlands kick off a series of similar actions running until Friday, while an overtime ban across all operators in England will also hit services nationwide until next weekend. The action will also affect some cross-border services into Scotland and Wales. Continue reading...
Treasury select committee highlights concerns over data privacy and increased possibility of bank runsThe idea of creating a digital pound should not even be considered until the UK government and Bank of England address concerns over data privacy and the increased risk of bank runs, a parliamentary committee has warned.MPs on the Treasury select committee said that while it was true that the rollout of a central bank digital currency could trigger fresh innovation and competition in the payments sector, serious questions remained about whether the positive effects outweighed the risks and cos[...]
Fans of steak bakes and sausage rolls enjoy ‘posh Greggs’ experience at Parisian-inspired pop-up “It’s Geordie but a little bit posh,” whispered Vicki Steele as she prepared to look at the menu of Newcastle’s newest bistro. “We do exist, there’s just not many of us. In fact I’m not even a posh Geordie but she is,” she said, pointing to her sister.Steele is an early customer at a pop-up Parisian-inspired fine dining experience – Bistro Greggs in the city’s historic Fenwick department store. Continue reading...
Modest fall in mortgage costs and rising manufacturer confidence fuel hopes that UK is ‘turning the corner’UK house prices rise for third straight month as mortgage rates fallThe UK economy is showing signs of beginning to stabilise from the economic slowdown triggered by soaring inflation and ever-higher interest rates, amid hopes that a peak in borrowing costs has been reached.Figures on the housing market and manufacturing on Friday showed steadying levels of activity, amid a modest decline in mortgage costs for households and rising confidence among industrial firms. Continue reading...
One family paid for 20 years to insure a Sky TV box that was phased out in 2016 because of auto-renewHow would you feel if you discovered your elderly parents had paid the equivalent of £5,000 over the past 20 years to insure a Sky set-top box that became obsolete in 2016?Just ask Neil Allcock, who recently found out that his father had paid Domestic & General £300 this year to cover electrical products that are either no longer offered, or are worth next to nothing. Continue reading...
Experts say supermarkets may have to rely on imports from as far afield as Egypt, pushing up environmental impactUK farmers are struggling with one of the lowest potato harvests on record after an autumn of heavy rain, raising fears about supplies for this year’s Christmas dinners.Experts are warning that supermarkets could be forced to turn to imports from as far afield as Egypt to fill potential gaps on shelves, pushing up the environmental impact of the festive meal. Continue reading...
Lone parent Rebecca Anderson feels women in UK who do not breastfeed are being penalised after 25% price riseIceland boss hits out at parent ‘exploitation’ in baby milk marketRebecca Anderson, 37, knows how it feels to be on the sharp end of baby formula price rises. A civil servant and lone parent in Middlesbrough, Anderson has noticed the price tag on the formula she feeds her 10-month-old son has been rising since he was born, reaching £13.50 in Tesco and Morrisons. According to the price comparison site Which?, the retail price of HiPP Organic 1 First Milk Powder (800g) rose by 12.9% in th[...]
The cost of government is rising, yet raising taxes is bad politics. From productivity to ‘degrowth’, the left ought to get behind the more radical approachesTaxing the better-off is not going to be easy. For one thing, no one can agree on how to go about it. Thinktanks have put forward various proposals, usually targeting individual wealth.Voices across the political spectrum agree with the need for such a move. Free-market economists are just as worried about the excessive accumulation of personal capital as those on the left. Continue reading...
As chancellor during the financial crisis he showed great wisdom and courage, and he played a huge part in keeping the UK intact in the Scottish referendumFormer chancellor Alistair Darling dies aged 70How underrated chancellor Alistair Darling helped weather financial crisisThe news of Alistair Darling’s death on Thursday came as a terrible shock to us all. A statesman of unimpeachable integrity and a man driven by a deep sense of social justice, twice in his career he stepped up when his country needed him and demonstrated a level of wisdom, courage and calmness that is granted to only the m[...]
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Groups needing to spend tens of billions of dollars on broadband lines are in an awkward position
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