Cost of Living Crisis: Prices Rise While Pay Falls
ONS warms of falling wage increases amid the cost of living The UK wages continue to lag behind the cost of living, but the unemployment rate has dipped to 4.1% and job vacancies hit a fresh record high. Wages increased, but when inflation is factored in, income is down 0.8 Continue Reading
The Rise of the CBDC market
A central bank digital currency is a new form of money that does not exist in a traditional reserve account. CBDCs are presently mostly in the hypothetical stage with some in proof-of-concept programmes. China’s digital RMB is the first digital currency to be issued by a major economy. Central banks Continue Reading
Churchill replaces Elizabeth Fry on the £5 note
This week Mervyn King, the Governor of the Bank of England, announced Winston Churchill will replace social reformer Elizabeth Fry as the face of £5 notes. This means that, other than the Queen, there will be no women featuring on our English bank notes. An all-male line-up on our banknotes Continue Reading
Rochdale’s Housing Debt Problem
Simon Danziuk MP for Rochdale states on his newsletter this week: ‘A report published by the housing charity Shelter has named Rochdale as a national hotspot for home repossessions. With hundreds of families having lost their home in Rochdale last year, the Government’s VAT increase, public service cuts and cuts Continue Reading
Mervyn King Warns the Banks on Profitising from Customers
Banks are trying to maximise short-term profit at the expense of customers, the Bank of England governor has said. In a Daily Telegraph interview, Mervyn King questioned the bonus system and warned that failure to reform the sector could result in another financial crisis. BBC correspondents say the remarks are Continue Reading
