{"id":8082,"date":"2022-09-14T09:43:06","date_gmt":"2022-09-14T08:43:06","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/09\/14\/news-in-review-72\/"},"modified":"2022-09-15T10:38:43","modified_gmt":"2022-09-15T09:38:43","slug":"news-in-review-72","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/09\/14\/news-in-review-72\/","title":{"rendered":"News in Review"},"content":{"rendered":"
\n

“<\/em><\/strong> Queen Elizabeth II was the rock on which modern Britain\nwas built<\/em><\/strong>“<\/em><\/strong><\/em><\/strong><\/p>\n<\/div>\n\n

\n

Just two days after appointing her fifteenth Prime Minister, the world\nwas shaken by the news on Thursday of the death of Her Majesty Queen Elizabeth\nII at Balmoral Castle, in Scotland.<\/strong><\/p>\n<\/div>\n\n

\n

Speaking at Downing Street on the evening of the Queen\u2019s death, new Prime Minister Liz Truss proclaimed, \u201cQueen Elizabeth II was the rock on which modern Britain was built. Our country has grown and flourished under her reign. Britain is the great country it is today because of her.\u201d<\/em><\/p>\n<\/div>\n\n

\n

As the nation mourns the sad passing of the UK’s longest-reigning monarch and bids farewell to the second Elizabethan era, King Charles III now takes to the throne. Addressing the nation for his first time as monarch on Friday evening, King Charles acknowledged the “profound sorrow”<\/em> both he and his family and the world were feeling in the wake of the Queen’s death, before praising \u201cher dedication and devotion as Sovereign\u201d which \u201cnever waivered through times of change and progress, through times of joy and celebration, and through times of sadness and loss.\u201d <\/em> He added, \u201cIn her life of service, we saw that abiding love of tradition along with that fearless embrace of progress, which makes us great as nations.\u201d<\/em><\/p>\n<\/div>\n\n

\n

Queen Elizabeth\u2019s state funeral will take\nplace on Monday 19 September at Westminster Abbey after an official ten-day period of mourning. The King has designated the day as\na bank holiday for the entirety of the UK.<\/p>\n<\/div>\n\n

\n

Energy price\nguarantee announced<\/strong><\/p>\n<\/div>\n\n

\n

In\none of her first acts as PM, Liz Truss announced a new energy price guarantee,\nplacing a limit on UK energy bills. Amid soaring energy prices from 1 October, the\nguarantee means a typical UK household will pay an average \u00a32,500 a year on\nenergy bills for the next two years.<\/p>\n<\/div>\n\n

\n

Businesses and public sector organisations will see\nequivalent support with a six-month scheme, after which the government will provide\nongoing, focused support for vulnerable industries. <\/p>\n<\/div>\n\n

\n

The\ngovernment is expected to borrow at least \u00a3100bn to fund the support package. The two-year price guarantee applies\nto all households in Great Britain, with the same level of support made\navailable to households in Northern Ireland. The previously pledged \u00a3400 payment for all\nhouseholds to help with energy bills will also still go ahead from October.<\/p>\n<\/div>\n\n

\n

A\nspokesperson from energy regulator Ofgem commented on the initiative, \u201cOfgem\nwelcomes this significant and unprecedented support for energy consumers across\nthe country. It\u2019s been clear to Ofgem and the government since we announced the\nnew price cap that the new government would have to act urgently and decisively\nto support consumers and this package of support will be welcomed by millions\nacross Britain.\u201d<\/em><\/em><\/p>\n<\/div>\n\n

\n

Economic\ngrowth in July and unemployment data<\/strong><\/strong><\/p>\n<\/div>\n\n

\n

In July, the Women’s Euro Championships, the\nCommonwealth Games, and strong second-hand car growth contributed toward\neconomic growth of 0.2% in the month, according to data from the Office for\nNational Statistics (ONS). Although growth was slower than the 0.3% expected by\nanalysts, this growth follows a fall of 0.6% in June. The joint-fifth warmest July since 1884,\nthe weather was cited as the prime reason for increased turnover in various\nareas including outdoor pools, golf clubs, ice cream manufacturing, amusement\nparks and the provision of courier services, where increased deliveries of fans\nand summer clothing were reported.<\/p>\n<\/div>\n\n

\n

ONS outlined on Tuesday that the unemployment rate is currently at\nits lowest for 48 years. In the three months to July the jobless rate fell to\n3.6% over the period, the lowest rate since May\nto July 1974.<\/p>\n<\/div>\n\n

\n

Bank of England delays interest rate\ndecision<\/strong><\/strong><\/p>\n<\/div>\n\n

\n

With Britain in a period of national mourning, the Bank of England’s Monetary Policy Committee has postponed its decision\non whether it will raise Bank Rate for one week. The Committee,\nwhich was scheduled to announce its decision on Thursday 15 September, will now\nannounce their decision at midday on Thursday 22 September.<\/p>\n<\/div>\n\n

\n

With the House of Commons now suspended, policy announcements\nhave been paused for around ten days. On Monday, an official spokesperson for\nthe Prime Minister said the government still intends to hold a fiscal event\nbefore the end of September.<\/p>\n<\/div>\n\n

\n

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

\n

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

\n

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

\n

All\ndetails are correct at time of writing (14 September 2022)<\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

“ Queen Elizabeth II was the rock on which modern Britain was built“ Just two days after appointing her fifteenth Prime Minister, the world was shaken by the news on Thursday of the death of Her Majesty Queen Elizabeth II at Balmoral Castle, in Scotland. Speaking at Downing Street on the evening of the Queen\u2019s […]<\/p>\n","protected":false},"author":12,"featured_media":8084,"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\/8082"}],"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=8082"}],"version-history":[{"count":2,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/8082\/revisions"}],"predecessor-version":[{"id":8085,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/8082\/revisions\/8085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/8084"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=8082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=8082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=8082"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=8082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}