by making credit more expensive, it hopes households will cut back on spending. at 5.25% uk interest rates are now at their highest in 15 years, piling the pressure on mortgage borrowers and businesses. but on wednesday, an indication they might finally be having an effect on inflation. our economics editor faisal islam reports from plymouth in the west of england. the price of fish has been rising for two years, the latest figures show it is up 7% on last year but it was closer to three times that at the beginning of 2023. for this plymouth fishing fleet under the cost of business is a skyhigh. the cost of business is a skyhigh the cost of business is a s hiuh. ~ . . skyhigh. we are all feeling it, aren t we? skyhigh. we are all feeling it, aren t we? the skyhigh. we are all feeling it, aren t we? the employees i skyhigh. we are all feeling it, | aren t we? the employees and general public and the trawlers, there is only so far can go with the field going up, it is ve
chancellor of the exchequerjeremy hunt has described his autumn budget statement. 27 million workers will see their main national insurance contributions cut from 12% to 10% from january. and a tax break for companies that invest in new equipment will be made permanent, which mr hunt claims is the biggest business tax cut in modern history . also announced the news that from april, universal credit and disability benefits will go up by 6.7 percent. but those on welfare will have to take a work placement within 18 months or risk losing their benefits. the state pension will go up by 8.5% to 221 pounds 20 a week. the minimum wage for those aged 21 and older will go up to 11 pounds 44 an hour. pouring some cold water on all this however, a report out from the uk s independent spending watchdog, the office for budget responsibility. it warns that despite the new cuts, overall tax as a percentage of national income will soon be the highest since the second world war. here s our p
thing in the world of retail. that s black friday of course the annual discounting spree that s come to mark the start of the holiday shopping season. but with many shops closed or subject to restrictions across europe and the us, today will be a black friday like no other. online sales have been replacing those chaotic scenes in stores for a long time now but 2020 is seeing that trend turbocharged with online retailers expecting their biggest black friday ever. how much consumers will actually be prepared to spend though is another matter. from new york, here s michelle fleury. the black friday shopping many are still playing out in a. millions of americans had the malls in a mad dash to get their hands on holiday deals that rock prices. the past two days everything you can imagine has been flying off the shelves. the friday after thanksgiving, typically the easier shopping day in america, synonymous with large crowds and chaotic scenes, it is the polar opposite of soc
talks on a trade deal between the uk and the european union have concluded with both sides saying there are very large gaps to bridge. the british prime minister, borisjohnson, and the european commission president, ursula von der leyen, met over dinner in brussels. both have agreed talks on a deal will continue until sunday, when a firm decision will be made. a source in mrjohnson‘s office said he didn t want to leave any possible route to a deal untested. without a trade agreement, tariffs will be imposed on goods from the start ofjanuary and trade will be disrupted by increased border checks. our europe editor, katya adler, was following the talks in brussels. she said the same disagreements remain. remember there are three main sticking points still there that have been there for months. that s the rights for eu fishing communities to access uk waters after brexit. its competition regulations. the eu says, uk, if you want to have preferential access to our single marke
so, the big event in the uk todayis so, the big event in the uk today is the delivery of the first budget in over a year, and many analysts are already dubbing it a coronavirus budget. some elements have already been revealed, including more than 600 billion pounds of infrastructure project over five years. financial help is expected of businesses and those who have to self isolate but can t claim sick pay. as the number of cases and deaths grow, government around the world are now under increasing pressure to act. yesterday the latest move in italy was the deputy finance minister announcing mortgage payments will be suspended across the country as a part of a measure to ease financial pressures caused by the outbreak. the japanese government unveiled a four billion dollars package including business loans and subsidies for working parents who must take leave because of school closures. and in the united states, president trump had said he would unveil measures to stimulate t