Firms told to prepare two sets of rates for units of gas and electricity for MarchMartin Lewis says ‘85% chance’ Hunt will extend bill support Britain’s energy suppliers are expecting the government to U-turn on a planned cut to energy support for households – but have been told by officials to prepare two sets of bills for next month.Chancellor Jeremy Hunt is under pressure to extend the energy price guarantee, a government policy which aims to limit annual household bills to £2,500 until the end of March. Continue reading...

Rolling coverage of the latest economic and financial news, as BBC reports that some energy suppliers expect current subsidies to be kept beyond AprilMoney Saving Expert Martin Lewis believes there’s an 85% chance that the government will bow to pressure and maintain its current support for energy bills from April.Lewis, who has been urging Jeremy Hunt not to lift energy bills by 20% next month, tells the Today programme that “I wouldn’t say it’s a done deal”.It’s a bit of a no-brainer. It’s been a tough slog to get it through.What I have heard, is that some of the firms have kept...

Talks under way with UK government over timings of project as prices of materials soarThe boss of HS2 has said that construction of the high-speed rail line could be further delayed in an effort to curb costs.Mark Thurston, the chief executive of HS2 Ltd, said that soaring inflation had resulted in significant increases in the price of materials, raising the already ballooning cost of the much-delayed project to link London, the Midlands and the north of England. Continue reading...

Strike begins 16 March, after company reports underlying pre-tax profit of nearly £146m for last year• UK strike calendarMore than 3,000 National Express bus drivers in the West Midlands have voted to strike over pay, starting on 16 March, the same day as the next RMT train strike.The Unite union said members voted 96% in favour of industrial action, on a turnout of 72%. Continue reading...

UK house prices fall year-on-year for first time since June 2020, says Nationwide building societyGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Annual house price growth has moved into negative territory for the first time since June 2020, Nationwide building society said this morning.The recent run of weak house price data began with the financial market turbulence in response to the mini-Budget at the end of September last year. While financial market conditions normalised some time ago, housing market activity has remained subdued....