{"id":6107,"date":"2022-05-25T15:47:04","date_gmt":"2022-05-25T14:47:04","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/05\/25\/news-in-review-57\/"},"modified":"2022-07-05T14:09:48","modified_gmt":"2022-07-05T13:09:48","slug":"news-in-review-57","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/05\/25\/news-in-review-57\/","title":{"rendered":"News in Review"},"content":{"rendered":"
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“There is no measure any government\ncould take\u2026 that can make these global forces disappear overnight”<\/em><\/strong><\/p>\n<\/div>\n\n

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Inflation continues its ascent, with the Consumer\nPrice Index (CPI) rising to 9.0% in the 12 months to April 2022, up from 7.0%\nin March, according to the latest data from the Office for National Statistics\n(ONS). Rishi Sunak addressed the Confederation of British Industry last week,\nfollowing release of the latest data saying, \u201cthe Bank of England now expect\ninflation to peak at 10% later this year. And those inflationary pressures are\nstarting to weigh on growth\u2026 There is no measure that any government could take, no law we\ncould pass, that can make these global forces disappear overnight.\u201d<\/em><\/strong><\/p>\n<\/div>\n\n

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Warning that the next few months\nwill be tough, the Chancellor called on businesses to “invest, train\nand innovate more”<\/em> to help boost productivity and improve the\nlong-term prosperity of the UK. He said the government’s response to the\ncost-of-living crisis will “evolve”<\/em> as the situation does,\nhowever he did not outline any immediate action, citing that ministers “stand\nready to do more.”<\/em><\/em><\/p>\n<\/div>\n\n

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Jubilee celebration city status\nwinners and the Elizabeth Line finally opens<\/strong><\/p>\n<\/div>\n\n

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As part of 2022 Platinum Jubilee\ncelebrations, eight new cities were named last week, with at least one\nfeaturing in every UK nation, plus on the Isle of Man and the Falkland Islands.\nAs part of a Platinum Jubilee civic honours competition, applicants had to\nshowcase their cultural heritage, and their local and community identity.\nColchester, Doncaster, Wrexham, Bangor, Milton Keynes and Dunfermline received\nthe royal honour, as well as Stanley in the Falklands and Douglas on the\nIsle of Man, completing the geographically diverse list of eight. <\/p>\n<\/div>\n\n

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According to the Cabinet Office, \u2018city\nstatus can provide a boost to local communities and open up new opportunities\nfor people who live there.\u2019<\/em> By way of example, granted city status in 2012,\nPerth, \u2018has reaped the full benefits, with the local economy expanding by\n12% in the decade it was granted city status.\u2019<\/em> According to some residents,\nbeing awarded the status has firmly established them on the \u2018international\nmap as a place to do business.\u2019<\/em><\/p>\n<\/div>\n\n

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Just before Jubilee celebrations\nkick into full swing, the Elizabeth Line, linking Reading and Essex via central\nLondon, opened to passengers on Tuesday. Hampered by several delays, and\noriginally due to open in 2018, passengers are now able to travel the Abbey Wood to Paddington section, with those wishing to\ntravel the length of the line currently having to change at Paddington or\nLiverpool Street, until 2023. The government has outlined that the new\nline will bring \u00a342bn\nto the UK economy and it has created over 55,000 jobs across the UK.\nExpectations are that the line will support\nregeneration and new homes along its route.<\/p>\n<\/div>\n\n

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Record level of fraud prevented <\/strong><\/p>\n<\/div>\n\n

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Specialist police force, the\nDedicated Card and Payment Crime Unit (DCPCU) comprising the Metropolitan\nPolice Service, City of London Police officers and Metropolitan Police Service\nand staff from UK Finance, prevented a record \u00a3101m worth of fraud in 2021.\nEstablished 20 years ago, and funded by the finance and banking industry, the\ntotal amount prevented from being stolen was the highest in the unit\u2019s history.\n
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Managing\nDirector of Economic Crime at UK Finance, Katy Worobec, commented on the\nsuccess of the DCPCU, \u201cThe unit\u2019s work in tackling organised criminal gangs\nhas stopped stolen money from funding other serious criminal activities\nincluding terrorism, human trafficking and drugs smuggling. Unfortunately,\ncriminals will continue to try to scam the public, so we urge everyone to\nfollow the advice of our Take Five to Stop Fraud campaign: always take a moment\nto stop and think before parting with your money or information.\u201d<\/em><\/p>\n<\/div>\n\n

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Retail sales experience surprise increase<\/strong><\/p>\n<\/div>\n\n

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Alcohol and tobacco sales were\nfound to have driven an unexpected rise in headline retail sales in April.\nAccording to ONS data, UK retail sales volumes increased by 1.4% last month,\nthis follows a 1.2% fall in March. Food store sales volumes increased 2.8% in April, while non-store\nretailing sales volumes, predominantly online-only retailers, rose by 3.7% in\nthe month, led by stronger clothing sales. Off-licences also saw a boost in\nsales last month, suggesting that people were choosing to stay at home in an\neffort to save money. The proportion of online retail sales rose to 27.0% in April\nfrom 25.9% the previous month, considerably higher than the 19.9% recorded in\nFebruary 2020 prior to the pandemic.<\/p>\n<\/div>\n\n

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Here to help<\/strong><\/p>\n<\/div>\n\n

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Financial advice is key, so please do not hesitate\nto get in contact with any questions or concerns you may have.<\/p>\n<\/div>\n\n

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The value of\ninvestments can go down as well as up and you may not get back the full amount\nyou invested. The past is not a guide to future performance and past\nperformance may not necessarily be repeated.<\/strong><\/p>\n<\/div>\n\n

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All details are\ncorrect at time of writing (25 May 2022)<\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

“There is no measure any government could take\u2026 that can make these global forces disappear overnight” Inflation continues its ascent, with the Consumer Price Index (CPI) rising to 9.0% in the 12 months to April 2022, up from 7.0% in March, according to the latest data from the Office for National Statistics (ONS). Rishi Sunak […]<\/p>\n","protected":false},"author":12,"featured_media":6361,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,112],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/6107"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=6107"}],"version-history":[{"count":1,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/6107\/revisions"}],"predecessor-version":[{"id":6362,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/6107\/revisions\/6362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/6361"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=6107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=6107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=6107"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=6107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}