EU fears trade war with US in row over Biden’s green subsidies

EU ministers are trying to head off a trade war with the US as Brussels and Washington lock horns over $369bn (£304.8bn) of green subsidies being pushed by Joe Biden. Officials on the two continents have set up a taskforce to assess the impact of the US’s ambitious climate legislation – the Inflation Reduction Act … Read more

Winter energy bills support to cost taxpayers £1,800 per household – latest updates

Ofgem has increased the energy price cap this morning, which means nothing for British households in the short term but a lot for the Treasury. The price cap will rise to £4,279 from January, meaning the Government must would pay nearly £1,800 per house over the course of the year after limiting household bills to … Read more

Christmas strikes: workers warn over ‘end of Royal Mail as we know it’ – latest updates

Sam Bankman-Fried has issued a mea culpa in a letter apologising to FTX staff for the collapse of his crypt empire. It comes as US bankruptcy proceedings have revealed that tens of thousands of British traders have been left out of pocket by the implosion of the cryptocurrency exchange FTX. Some 8pc of FTX’s users … Read more

Rail union expected to announce more train strikes – latest updates

Rail union bosses will meet today to agree on whether to stage more walkouts on Britain’s railways after talks with industry bosses collapsed. The Rail, Maritime and Transport Union (RMT) had called off industrial action at the eleventh hour shortly before the Bonfire Night weekend, although the last-minute decision still caused heavy disruption on trains. … Read more

Middle England to suffer biggest hit from Jeremy Hunt’s tax rises, says IFS

We already knew that Jeremy Hunt’s Autumn Statement was paving the way for years of pain but the Resolution Foundation’s report makes for worrying reading. The scaling back of the energy price guarantee, which will keep average bills at £2,500 until April, means the typical household will only have 30pc of the rise in their … Read more

Record fall in household incomes erases a decade of growth – latest updates

Welcome to Autumn Statement day. This morning Chancellor Jeremy Hunt will be announcing the government’s financial plans, the first such financial statements made under Rishi Sunak’s premiership. Mr Hunt’s statement comes after inflation hit its highest level for 41 years, driven mainly by increases in gas and electricity bills. “We aren’t immune to these global … Read more

In less than an hour, Jeremy Hunt delivered a death sentence to the aspirations of a generation

And there is no escape from the tax attack. We are now at the mercy of inflation, with thresholds frozen on everything from income to inheritance. This is a pincer movement on our wages and our wealth. Inflation was harmless at around 1pc when Rishi Sunak first introduced the widespread freeze on tax bands and … Read more

The Big Build for Children in Need, review: more Knowles, fewer Radio 2 DJs, please

Nothing restores one’s faith in human nature like DIY SOS, the series in which Nick Knowles and his team carry out renovations for deserving folk.  In The Big Build for Children in Need (BBC One) they super-sized it by creating a permanent home for Getaway Girls, a charity in Leeds which had once operated from … Read more

Tesco rebrands discount food to avoid putting off shoppers

The rebranded “Reduced in Price” section will “offer reassurance that these products are just as nice” as the non-discounted ones, the retailer has said. Tesco offers fresh produce such as salads, meat, bread and sweet treats which are close to their expiry date at a discount to get them off the shelves – which the … Read more