Press Round-Up Short (Premium)
Monday newspaper round-up: Gas prices, EY, ECB, Iceland
Analysts are expecting gas prices to surge to record highs this week after Russia shut down a key pipeline to Europe. At the same time, a growing number of UK manufacturers have said they are already cutting production or making job cuts as a direct result of “out of control” energy bills. – Guardian.
Sunday newspaper round-up: Energy bill freeze, Iceland, National Grid
Lizz Truss declined in an interview with BBC One to rule out freezing energy bills in some form if she were elected, vowing to take action within a week if she were. Truss, who is widely expected to come out on top in the Tory leadership contest, vowed she would reveal her plans to ease the pain from soaring energy prices and expanding energy supply within seven days after entering Number 10. A plan to restart economic growth through tax cuts would be forthcoming within a month from assuming office.
Friday newspaper round-up: Selfridges, EG Group, Credit Suisse
The Treasury is working on a menu of options to counter Britain’s cost of living crisis in readiness for an emergency mini-budget due to take place within two weeks if Liz Truss replaces Boris Johnson as prime minister. With opinion polls and bookmakers’ odds showing Truss the clear favourite to move into 10 Downing Street next week, officials are drawing up plans that would allow the new government to move quickly over bills and longer-term reforms of the energy market.
Thursday newspaper round-up: Spending power, workplace pensions, business rates
Households in Britain will see their spending power cut by an average £3,000 by the end of next year unless the new government acts to counter the biggest drop in living standards in at least a century, research has indicated. Adding to pressure on Boris Johnson’s successor as prime minister to tackle a worsening cost of living crisis, the Resolution Foundation thinktank said soaring energy bills would cut household incomes by 10% and push an extra 3 million people into poverty.