6:54 am, January 27, 2023
Hunt says ‘forget the gloom, the future’s bright’ with the Tories
Chancellor Jeremy Hunt will dismiss misplaced ‘gloom’ about the prospects for the UK economy, saying Britain stands ready to take advantage of its Brexit ‘freedoms’ to become a new world leader.
In a keynote speech on Friday, Hunt will deliver an upbeat message, saying: ‘Declinism about Britain was wrong in the past and it is wrong today’.
But despite the optimistic tone, the chancellor is expected to continue to resist calls from some Tory MPs for tax cuts to kick-start flagging economic growth. Instead he will say the UK should exploit the opportunities provided by the UK’s withdrawal from the EU to raise productivity while using the proceeds of growth to support public services.
British tanks expected to arrive in Ukraine ‘by end of March’
The Challenger 2 tanks the UK is supplying to Ukraine are expected to arrive in the war-torn country at the end of March.
Prime minister Rishi Sunak said ‘everything is going according to plan’ over the supply of the tanks, with Ukrainians expected to start training on the Challengers shortly.
The UK was the first country to promise modern Nato tanks to Ukraine, with Germany and the US now also committed to supply Volodymyr Zelensky’s forces with dozens of vehicles.
Government refuses to deny reports HS2 may not run to central London
The government has refused to confirm that HS2 will reach its central London terminus at Euston following reports that it may be delayed or scrapped.
The Sun said soaring inflation means that the high speed rail project may not run to Euston until 2038 – or be scrapped completely, with trains instead stopping at a new hub at Old Oak Common in west London’s suburbs.
Instead commuters would have to finish their journeys into central London by using the Elizabeth Line.
Matt Hancock paid £320,000 to appear on I’m A Celebrity… Get Me Out Of Here!
Matt Hancock was paid £320,000 for his controversial appearance on I’m A Celebrity… Get Me Out Of Here!, it has been revealed.
The former health secretary’s fee was listed on the MP’s register of financial interests.
Hancock had the Conservative Party whip suspended for taking time off to appear on the ITV reality show. More than 1,000 complaints were made to broadcasting watchdog Ofcom over his participation.
Shell plans strategic review of energy supply business which employs 2,000 in UK
Oil giant Shell has raised questions about the future of its energy supply business which employs thousands of people in the UK as companies continue to struggle in a tough market.
Shell said it will launch a ‘strategic review’ of Shell Energy, including its operations in the UK, the Netherlands and Germany.
Launched in 2008 as First Utility and bought a decade later by the oil major, Shell Energy employs around 2,000 people in the UK. It supplies energy to around 1.4m homes across the country and broadband to around half a million customers.
Royal Mail letter delays ‘blight Christmas for third year running’
An estimated 31m people were hit by letter delays over Christmas as Royal Mail ‘let consumers down for a third year running’, Citizens Advice said.
Some 60 per cent of UK adults experienced delayed post, with some still receiving festive cards well into the new year, a survey for the charity suggests. Some 11 per cent – an estimated 3.2m – said they missed an important document, such as an insurance letter or legal document, and eight per cent – an estimated 2.1m – said they missed a health appointment.
Citizens Advice said it was the third festive period in a row when it had called on the Royal Mail to improve its performance.
Shop vacancies fall amid increasing tourism and return to the office
Shoppers saw fewer empty stores last year – particularly in the second half – as international tourist visits increased and the return to the office picked up, figures show.
The overall vacancy rate improved to 13.8 per cent in the fourth quarter of 2022 – 0.1 percentage points better than the previous quarter and 0.6 points up on the same period a year earlier, according to the British Retail Consortium (BRC) and Local Data Company (LDC) Vacancy Monitor.
Shopping centres saw a quarterly improvement to 18.2 per cent, down from 18.8 per cent, while high street vacancies improved to 13.8 per cent from 13.9 per cent and retail parks enjoyed a 0.7 percentage point reduction in empty stores. Greater London, the south east and east of England had the lowest vacancy rates, while the highest were in the north east, followed by Wales and the West Midlands.
Poundland to open and relocate at least 50 new stores, creating up to 800 jobs
Discount retailer Poundland has unveiled plans to open and relocate at least 50 new stores over the next nine months in a move set to create up to 800 jobs.
The chain said that around half of the planned store changes would be new openings – in cities including Glasgow and London – while the remainder would be relocations from smaller and outdated sites, or major extensions to existing shops.
Around 750 to 800 jobs will be created on a net basis, according to Poundland, as part of the store overhaul programme.
Thursday Car Dealer headlines you might have missed
- Warning as new fake used car dealer Winmex Car Sales Limited looking to scam unwary buyers is uncovered
- Video: Physical car dealerships are crucial in an online used car buying journey, says Google
- Need to know: What is Cinch? How does Cinch sell cars? Is Cinch profitable?
- Cost-of-living crisis has led to fewer people opting for an EV – survey
- Volvo recalls more than 100,000 cars due to concerns over automatic braking systems
- Jaguar Land Rover makes first profits since the pandemic but remains in the red for year-to-date
- UK car production sank to 66-year low in 2022, SMMT figures show
- Tesla puts recent turmoil to one side as it reports 59 per cent rise in fourth quarter profits
- Suzuki customers are the most satisfied – but Land Rover is bottom of league
Morrisons posts earnings fall as shoppers squeezed by inflation
Morrisons has revealed lower earnings as bosses at the supermarket giant pledged to push prices lower in a bid to win back customers squeezed by the rising cost of living.
The group, which was bought by private equity giant Clayton, Dubilier & Rice (CD&R) in 2021, revealed that adjusted earnings fell by 15 per cent to £828m over the year to October 30.
Morrisons highlighted that the earnings performance was at the ‘top end’ of guidance and included improved profitability in the final quarter. Joanna Goff, chief finance officer of Morrisons, said the group has seen signs of cooling inflation and expects improved earnings next year.
Porsche marks 75 years of sports cars with Vision 357 concept
Porsche is kicking off celebrations marking 75 years of producing sports cars with a tribute to its original model – the 356.
While the German firm might be best known for its 911 sports car, it was the 356 that was Porsche’s initial sporting model, and it’s that car on which the spotlight is being shone with the new Vision 357 concept.
Revealed as a homage to the 356, the Vision 357 is based on a 718 Cayman GT4 RS, currently Porsche’s smallest sports car, and uses that car’s 493bhp 4.0-litre flat-six engine, which is also shared with the 911 GT3 supercar. While strictly a concept, it “shows possible implementation of a future design philosophy”, says Porsche.
Weather outlook
A dry and sunny day for most, reports BBC Weather, with variable cloud. The northwest and far north will see heavier cloud and the odd spell of rain.
Earlier cloud and rain in the far north will push down into southern Scotland and Northern Ireland, tonight. Clear elsewhere.
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