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The Latest Breaking News from Carsten Jung

What's The Bank Windfall Tax: UK Major Banks' Shares Tumble Following Calls to Tax Bank Profits

UK bank shares fell after IPPR proposed a 'QE reserves income levy' that could raise about £8bn a year by taxing windfalls from Bank of England reserves, reviving a Thatcher-era idea and sparking warnings from lenders about growth and competitiveness.

International Business Times UK

Police warn protesters not to travel to Epping after asylum hotel ruling – as it happened

Home Office and Bell hotel owner challenged injunction granted to council that would have stopped dozens of asylum seekers being housed there

The Guardian - UK

Treasury should tax big banks on quantitative easing windfalls, argues thinktank

IPPR says Rachel Reeves should also urge Bank to halt bond sales to reduce government losses of £22bn a year

The Guardian - UK

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read the most diverse news in one place.

White-collar jobs are increasingly being exposed to AI

Report claims 70% of 22,000 tasks could be “transformed” or even “replaced” by AI, but we need better guidance.

TechRadar

AI could replace 70% of tasks in computer-based jobs, study says

A new report on the impact of AI on work and society warns more government intervention is needed on the issue because of its likely ‘seismic’ impact.

Evening Standard

Britain is crying out for more investment. Here’s why Labour shouldn’t worry about spending big

Investing in projects such as green schemes could boost growth and make public finances more sustainable. In other words, it’s a no-brainer, says economist Carsten Jung

The Guardian - UK

Greedflation: corporate profiteering ‘significantly’ boosted global prices, study shows

Multinationals in particular hiked prices far above rise in costs to deliver an outsize impact on cost of living crisis, report concludes

The Guardian - UK

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Why is Spain’s inflation so much lower than the UK’s? Because it stood up to business

The reliance on Bank of England rate rises alone can’t go on. In other countries, rent caps and excess profit taxes are working, says the IPPR’s Carsten Jung

The Guardian - UK

Double-digit pay rises for public sector workers not inflationary – think tank

The Institute for Public Policy Research says public sector staff should be offered a 10.5% rise.

The Independent UK

Jeremy Hunt’s austerity budget: necessity or political choice?

The chancellor insists Britain has to ‘live within its means’ – but many economists say painful cuts are neither inevitable nor proven to work

The Guardian - UK

Rishi Sunak warned against return to austerity with public spending cuts at next mini-Budget OLD

Think tank finds PM has ‘fiscal space’ to deliver support totalling billions in cost of living crisis

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