The UK supermarkets have slashed petrol prices by up to 4p a litre from today at all of its 279 forecourts sparking price war amongst the big four giants in the UK retail industry. The petrol price cut was initiated by Sainsbury’s with a 4p cut from petrol and 3p from diesel before Asda, Morrisons and Tesco followed suit. The substantial fall in petrol and diesel prices was effected due…

Petrol prices are set to rise again by 4 pence per litre after falling for three consecutive months, according to Automobile Association (AA). The motoring association claims that already 1p of increase has been passed onto many petrol stations, with 4p hike awaited, which would add £2 to the cost of filling a typical family car. The likelihood of petrol price hike comes a week ahead of Office of Fair Trading (OFT) review…

Energy bill breakdown is being sought by MPs, who are demanding that energy firms like British Gas, nPower be compelled to inform every customer what percentage of their energy bills will contribute to the energy supplier’s profits. This demand for an energy bill breakdown has been made by the cross-party Energy and Climate Change Committee. The aforesaid committee has demanded that householders be provided with an energy breakdown of their…

Britons are fascinated by online shopping, which is evident in an Ofcom research revealing that an average Briton spends £1,083 buying products online. The Ofcom research demonstrates that the amount of cash spent by the British on online shopping increased by 14% to £1,083 in 2011, as opposed to £950 in 2010. The Ofcom research has announced that online shopping is more popular now in Britain than in any other…

The George Osborne Autumn Statement could cause the axing of more than 13000 civil service jobs as the Chancellor plans to introduce an additional £5bn of spending cuts to bolster the economy. George Osborne has remarked to the Cabinet Ministers that his curbs on their departmental budgets would be tightened so that he can transfer money from day-to-day expenditure to building projects to help secure economic growth.

George Osborne will unveil the Autumn Statement 2012 tomorrow which will see the Chancellor announce £5bn funding for schools, transport and science for the next two years, while cutting thousands of Whitehall jobs. Chancellor’s Autumn Statement will draw inspiration from Education Secretary Michael Gove, who chopped more than 1,000 jobs in his department. In Osborne’s Autumn Statement, he will be seen asking Whitehall departments to cut day-to-day spending by 1%…

Chancellor George Osborne’s Autumn Statement will divulge a £154m onslaught on tax dodgers. His statement is expected to strike the wealthy companies and individuals, who have been desisting from paying tax, thereby harming the national economy. George Osborne’s statement on December 5 to the Parliament is likely to confirm that pivotal deficit reduction goals haven’t been achieved. Also, the statement is to signal that initiatives are being finalised to curb the…

Mark Carney, an ex-investment banker, who governs Canada’s central bank, will take over the post of Governor of the Bank of England in July, as per a proclamation of the British government on Monday through Chancellor George Osborne. The proclamation of Chancellor George Osborne, presented to the Parliament, has surprised many financial experts as it symbolises a departure from British tradition. The country has, conventionally, chosen figures of the British…

The Coalition government’s ‘green energy policy’, which has been in the works for long, has been finalised, which could signify that an additional £100 would be added to consumers’ electricity bills by 2020 for using green energy such as wind farms. The ‘green energy policy’ of the Coalition will treble the costs imposed on energy bills from £2.35bn a year to £7.6bn. The movement for clean energy or environmentally friendly…

British Gas announces an appalling 6% rise in gas prices which burdens around 8.5 million households with an additional £80 to the typical annual dual-fuel bill, or £1.50 a week. The gas price increase is double the rate of inflation. Amidst the gas price hike, British Gas’ parent company announced that it expects to post £1.4bn profits this year, renewing anger among customers. Recently, suspicions have risen with regards to the public paying a fair…