Category Archives: Inflation

National Living Wage will rise to £9.50 an hour

The 59p increase for workers over 23 – up 6.6% from £8.91 reflects the inflationary pressure outlined here a few weeks ago. The new rates will rise from 1 April 2022 as follows: National Living Wage for over-23s: From £8.91 … Continue reading

Posted in Economics, Inflation, Low pay, Minimum wage rates, National Insurance Contributions (NICs), Pay & inflation, Tax, Trades Unions, Wages and Pay-rates, Wealth inequality | Tagged , , , | Leave a comment

Drivers particularly badly hit by soaring costs

In news that will particularly hit film freelancers, car costs are soaring. Secondhand cars are costing up to 60% more than they did in 2019, and the price of petrol is climbing rapidly. The weekly road fuel prices stats on … Continue reading

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Energy bills to rise by 50% between 2020 and 2022

With the impacts of soaring global gas markets on the energy bills, and the price cap rising by 12 per cent on 1 October, The Resolution Foundation is briefing that energy bills are set to rise by 50% between 2020 … Continue reading

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Got a pay claim coming up? Want advice on inflation, and stuff like that?

If you have a pay claim coming up and want advice on inflation, and stuff like that…. good luck! Firstly, the official, current inflation figures have not been as flimsy a guide as they are at the moment for a … Continue reading

Posted in Economics, Employment, EU & Brexit, Inflation, Pay & inflation, Productivity, Skills & capacity | Tagged | 1 Comment

VAT gradually returning to normal rates

Since July 2020, there has been a reduced rate of VAT (5%, and not the normal 20%) charged on transactions in the leisure and hospitality sectors (which includes theatres and live events – a list of who it applies to … Continue reading

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Negotiating expenses for working in London (a guide for non-Londoners)

If (for example) you are based in Glasgow but you are asked to spend time working in London, what % uplift should you ask employers for when negotiating expenses? There’s a website called Numbeo that tracks and compares the cost … Continue reading

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Inflation – 3.2% in August

The increase in the cost of living, as measured by the Consumer Prices Index, has reached 3.2% in the year to August. But the ONS says that we shouldn’t read too much into this (very large) jump because… “The increase … Continue reading

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Labour shortages increase potential industrial muscle for workers

Today’s FT is full of news about how labour shortages are hitting the economy in numerous ways as a result of multiple market failures [£] which includes the pandemic, the pingdemic, market failure but obviously, we can’t add brexit to … Continue reading

Posted in Coronavirus, Economics, Employment, EU & Brexit, Gig economy workers, Inflation, IR35, Migration & working abroad, Pay & inflation, Productivity | Tagged , , | Leave a comment

Jobs growth fueling interest rate changes?

Useful info in here [£] about the current state of the jobs market. How the hot UK labour market is driving interest rate forecasts https://t.co/xIehn9Av73 — Financial Times (@FT) August 11, 2021

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Inflation rises to 2.5%

From The Guardian: “Britain’s inflation rate has risen to 2.5% – its highest level in almost three years – after the easing of coronavirus lockdown restrictions prompted rising demand. The Office for National Statistics (ONS) said dearer food, secondhand cars, … Continue reading

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Will Biden’s stimulus package cause inflation?

The LSE blog summarises the arguments with a panel of US experts expressing their views on the likelihood of the economy ‘overheating’ and causing inflation as a result.

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“The beast of inflation”

Haldane has warned of the “beast of inflation” stalking the land once more, with booming demand, labour shortages and supply-chain disruption risking a “wage-price spiral familiar from the 1970s and 1980s”. For Haldane, that warrants action to reduce the scale … Continue reading

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OECD says UK economy recovery will be stronger than previously predicted

The OECD is predicting UK growth of 7.2% in 2021 and 5.5% in 2022 – “the fastest since World War II”. However, it also predicts…

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Economy headlines for May 2021

Unemployment has fallen slightly and job vacancies risen to their highest level during the pandemic, according to data from the Office for National Statistics (ONS). Inflation has doubled, with CPI rising by 1.5% in the twelve months to April (up … Continue reading

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