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The Latest Breaking News from Niesr

Rishi Sunak risks missing target to halve inflation, NIESR warns

Leading thinktank sounds alarm over cost of living crisis with poorest £4,000 worse off in 2023 than before Covid pandemic

The Guardian - UK

Deliveroo cutting 9% of staff; Bank of England governor pledges to get inflation down – as it happened

BoE governor Andrew Bailey has warned MPs that paying for public sector pay rises with borrowing could push up inflation

The Guardian - UK

UK households to suffer £4k blow to finances this year, says report

Country likely to sidestep a protracted recession, but lasting effect of cost-of-living crisis ‘will feel like a recession’

The Guardian - UK

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'This cost-of-living crisis is a decades-long injustice', campaigners say

RISHI Sunak is being urged to introduce an uplift to Universal Credit to prevent people falling into destitution this winter, with warnings it would…

The National (Scotland)

If Jeremy Hunt is to be Truss’s saviour, he needs more than austerity 2.0

Tax-cut U-turns won’t be enough to balance the books, so the new chancellor will look at cutting public service budgets. But there is an alternative

The Guardian - UK

Liz Truss energy bills cap will fail to protect poorest, say thinktanks

Wealthy households with big bills will be among those to benefit most from ‘very poorly targeted’ package

The Guardian - UK

Brexit will make a bad recession even worse. But Sunak and Truss won’t question it

The Tory leadership contenders are pursuing a dangerous nirvana of low taxation while ignoring the damage inflicted by leaving the EU

The Guardian - UK

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Stagflation: What is it, and what can be done to tackle it?

A recent report has warned that the UK is headed for a recession that will plunge millions of vulnerable households across the UK into financial crisis.

Evening Standard

What is a recession? Economic term and what happens during one explained

A chilling warning about the state of the economy - and how it affect vulnerable households - has been issued.

Daily Record

Inflation to hit ‘astronomical’ 15% next year as UK households face £3,600 energy bills

Bank of England expected to hike interest rates by 0.5% to tame out of control price rises fuelled by Russia’s war in Ukraine

The Independent UK

Opec+ agrees small oil output rise in rebuff to Biden; UK inflation ‘could hit 15%’ – as it happened

Oil producers will lift oil production by 100,000 barrels per day in September, a much smaller rise than in recent months

The Guardian - UK

UK inflation will soar to ‘astronomical’ levels over next year, thinktank warns

The rise will force the Bank of England to hike interest rates higher and for longer than previously expected, says NIESR

The Guardian - UK

Millions of Brits to be hit by 'recession with poorest areas affected most'

The UK is set to head into recession according to the National Institute of Economic and Social Research which also predicts that it will be the poorest areas that will be worst affected

Daily Mirror

Stagflation 'nightmare' as recession warning issued to millions of UK households

Millions of the most vulnerable households will be hit, warns economic report

Wales Online

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The National (Scotland)

One in five Scots households faces savings wipe out

A FIFTH of Scots households will have their savings wiped out by the soaring cost of living by 2024, a new report warns.

The Independent UK

Stagflation warning as UK ‘set to enter recession’

The National Institute of Economic and Social Research said the threat of stagflation has returned for the first time since the 1970s.

Daily Mirror

Rishi Sunak accused of wasting £11bn of taxpayer cash in 'jaw-dropping' debt interest row

The Tory Chancellor was accused of failing to get insurance against interest rates rising on £900bn of reserves. Downing Street said the claims were 'simply not true'

Manchester Evening News

Ofgem boss warns Brits will face another eyewatering energy bill rise from October

Ofgem chief executive officer Jonathan Brearley said that for some people, not being able to properly afford their energy bills is already a matter of life and death

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Wales Online

Increase Universal Credit by £25 a week and give one-off £250 payment, government urged

The call came from leading experts who have warned they believe more than 250,000 households will “slide into destitution” next year

The Independent UK

1.5m UK households will struggle to pay bills in next year due to cost of living squeeze

Think tank calls for goverment to reinstate universal credit payments for struggling households

The Guardian - UK

Further 250,000 UK households face destitution in 2023, warns NIESR

Thinktank calls for urgent £25-a-week UC uplift and £250 one-off payment to cushion poorest from inflation

The Guardian - UK

National insurance rise could mean 1m destitute households in UK, says thinktank

NIESR says higher taxes and cost of living squeeze could mean 30% rise in households unable to buy essentials

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