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The Latest Breaking News from Torsten Bell

Markets treating UK like ‘developing country’ after Kwarteng budget, warns ex-US Treasury chief

Current turmoil ‘hallmark of situations where credibility lost’, says Larry Summers

The Independent UK

'Richest 5 per cent to get richer while 95 per cent get poorer' under Tory plans

THE Tory government's huge package of personal tax cuts amid the cost-of-living crisis will do nothing to stop more than two million people falling…

The National (Scotland)

‘Only the very richest’ in Britain will see incomes grow, tax cut analysis says

Chancellor's huge package of personal tax cuts will do nothing to stop more than two million people falling below the poverty line, says think tank

Wales Online

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read the most diverse news in one place.

‘A budget for the 1%’: government accused of huge tax cut for super-wealthy

Kwasi Kwarteng’s measures benefit the rich at expense of struggling families, say critics

The Guardian - UK

Truss plans ‘skew support’ to richest households, warns Resolution Foundation

There is a case for a ‘solidarity tax’ to recoup some of the cost from those who can pay more, said the think tank.

The Independent UK

Rich to get 'twice as much' support to help with cost-of-living, think tank claims

RICH households will receive twice as much support to help with the cost of living than poorer ones, a think tank has said.

The National (Scotland)

Risk of gaps on UK supermarket shelves if small firms collapse, food sector warns

Head of Food and Drink Federation tells MPs that soaring costs mean industry faces ‘really difficult winter’

The Guardian - UK

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‘Simplistic’ Liz Truss warned her VAT cut will ‘crash the public finances’

Institute for Fiscal Studies attacks ‘worrying’ idea – amid fresh confusion over likely next PM’s plans for energy crisis

The Independent UK

The cheapest petrol prices in every Greater Manchester borough

Oldham has some of the cheapest fuel prices in Greater Manchester

Manchester Evening News

HMRC urges eligible families to claim £500 cash boost this summer

Accounts can be opened at any time of the year and used straight away

Nottingham Post

Inflation soars to 9.1 per cent threatening savings, wages and family budgets

Experts warned that rising prices are “bad news for everyone”.

Daily Record

Letters: manufacturing is key to our future

The UK service sector is important, but we ignore our expertise in industries such as aerospace and pharmaceuticals at our peril

The Guardian - UK

UK families ‘nearly £9,000 worse off than in comparable countries’

A report by the Resolution Foundation and LSE found the incomes of the poorest UK households are 40% behind counterparts in similar economies.

The Independent UK

Tax cuts promised by Tory leadership hopefuls are 'not serious', say experts

EXPERTS have claimed large tax cuts being promised by Conservative leadership candidates are "not serious".

The National (Scotland)

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The Independent UK

Tax cut pledges of Tory leadership candidates are ‘not serious’, say experts

Almost all the candidates have promised large tax cuts, but experts say the trade-offs are likely to be too high.

The Guardian - UK

From pandemic solidarity to bitter enemies: how Tories turned on workers

Spirit of consensus has gone as ministers seek a scapegoat for the stagflation affecting the economy

The Guardian - UK

Wednesday briefing: How Boris Johnson could have tackled the cost of living crisis

In today’s newsletter: after a Queen’s speech that ignored rising costs, Archie Bland asks economist Torsten Bell what should have been announced

The Guardian - UK

Letters: Ofsted, take note – learning is about more than recall

People’s memories are patchy. If school inspectors can’t remember things, why should they expect children to?

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The Independent UK

Economists voice surprise at lack of support for poorest families from Sunak

Experts were answering questions about the content of the Chancellor’s spring statement.

The Independent UK

Cost of living crisis: Lack of support will push 1.3 million into absolute poverty, economists warn

The chancellor left the poorest households ‘painfully exposed’ in his Spring Statement, the Resolution Foundation has said

Daily Mirror

'Lack of support for poor in Sunak's mini budget is indefensible amid costs crisis'

Torsten Bell, chief executive of the Resolution Foundation, writes in the Mirror on Chancellor Rishi Sunak's 'badly designed' mini budget policy package with an 'indefensible' lack of support for the poorest households with incredibly difficult times ahead

Evening Standard

Cost Of Living Crunch Day

Today was, in the words of Resolution Foundation’s Torsten Bell, “Cost of living crunch day.” We had Ofgem’s announcement of the energy price cap rise. Expect to come across phrases such as ‘unprecedented’, ‘eye-watering’ and parents across the land beseeching their children to close the front door.

The Independent UK

Government should avoid NI rise during cost of living crisis, experts warn

Economists from UK think-tanks appeared in front of the Treasury Committee on Monday and said inflation has been far higher than first assumed.

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