With ambition and imagination, Liz Truss is best placed to secure our Union, writes ALUN CAIRNS, the latest Tory MP to back leadership race front-runner By Alun Cairns Published: 00:36 BST, 16 August 2022 | Updated: 02:00 BST, 16 August 2022 The challenges facing our next prime minister have been well documented: Energy and food … Read more
Boris Johnson REFUSES to take action to ease cost-of-living pain before quitting No10 in A MONTH: PM returns from honeymoon but will leave it to successor to act – as Gordon Brown blasts him and Chancellor for holidaying during economic crisis Ex-PM suggested recalling Parliament from its long summer holiday over crisis Bank of England … Read more
Shoppers are horrified to discover a head of cabbage on sale for $18 at a suburban supermarket: ‘You’ve got to really like cabbage’ A fruit and vegetable market in Brisbane is selling cabbages for $17.99 a head The price of cabbage in Queensland has risen in response to crop shortages Cabbages are largely unavailable online … Read more
The ‘confronting’ news Treasurer Jim Chalmers has been foreshadowing has arrived, with revised forecasts taking in inflationary pressures and global forces set to hit Australia’s economic growth. The federal treasurer has repeatedly stressed households and the economy will take a hit, labelling inflation, interest rates and government debt and the outlook for economic growth ‘confronting’. … Read more
A bank boss on a $4million salary has suggested interest rates are too low as average borrowers face a $1,000 a month hike in their mortgage repayments. Ross McEwan, NAB’s chief executive, said a decade of falling interest rates had needed to end as inflation surged, with borrowers this year already dealing with the biggest … Read more
Demand for home mortgages has hit its lowest level in 22 years as interest rates soar and sales of existing homes plunge. The Federal Reserve‘s move to fight inflation by raising interest rates has has quickly put a damper on home sales — yet home prices are at all-time highs in spite of the slowdown, … Read more
Red alert on public finances: Interest bill for UK’s £2.4tn debt mountain more than DOUBLES in June to £19.4bn – the highest for a single month since records began in 1997 – as inflation soars Interest costs on UK’s £2.4trillion debt mountain hit £19.4billion in June It was the highest on record for a single … Read more
DAILY MAIL COMMENT: Spiralling wages will make us all poorer By Daily Mail Comment Published: 01:51 BST, 28 June 2022 | Updated: 01:56 BST, 28 June 2022 Spiralling wages will make us all poorer It’s half a century since this country experienced the depressing and economically debilitating folly of inflationary wage spirals. But the fundamentals … Read more
Renting has become cheaper than buying a property after last week’s Bank of England interest rate rise, new research has claimed. The monthly cost of owning an average home with a 10 per cent deposit mortgage is now slightly higher than renting it, despite rental inflation hitting double digits for the first time in at least … Read more
Union boss SLAMS Reserve Bank over its ‘boomer fantasy’ that pay rises for average Aussies will push up grocery prices – as she demands huge hikes Reserve Bank governor Philip Lowe warned about 1970s style wage-price spiral He fears that if workers continue to get high wage rises, inflation will increase ACTU boss Sally McManus … Read more
Public sector workers are told not to expect pay to keep up with inflation and warned to brace for real-terms cuts as Treasury warns against ‘return to the 1970s’ Boris Johnson said any pay awards would be ‘proportionate and balanced’ Ministers determined to ensure pay awards do not ‘scramble to match inflation’ Treasury chief secretary … Read more
Millions of low-paid Australian workers on award wages and apprenticeships will suffer a pay cut despite the biggest minimum pay increase in 16 years. Australia’s unemployment rate in May stayed at 3.9 per cent for the third straight month – holding at the lowest level since August 1974. But experts fear rising inflation will see … Read more
Interest rates are set to rise AGAIN with Bank of England taking base above 1 per cent for the first time since 2009 in bid to tackle rampant inflation Interest rates have bumped up rates four times since December Prices jumped by 9 per cent, the highest rate of inflation since the 1980s if rates … Read more