Inflation is again, however Sunak is intent on taking cash out of pockets | Inflation

Prices in stores are rising and consumers are facing an autumn crisis. Official figures show that inflation is on fastest rate in a decade in Augustas the effects of Covid-19 and Brexit drive up the cost of living.

The 1.2 percentage point rise in the consumer price index beat City economists’ projections and was the largest since January 1997, the year Gordon Brown later took the Bank of England Independence in fighting inflation. At 3.2%, the CPI is now the highest since March 2012.

Questions will be asked about Threadneedle Street’s response. But there is a tougher challenge for the Treasury Department: is this really the time to start getting more money out of people’s pockets?

Despite the rising cost of living, it looks to be going according to plan, with the biggest overnight social security cut ever planned Universal credit, a Public sector pay freeze and get up National insurance contributions.

September is the month NHS workers get an extra dollop of cash in their wage packages from the government’s July wage agreement, which was backdated to April. While this will help, the paychecks come as well 3% wage increase is being wiped out by the rising cost of living.

Combined with the end of vacation This month the government’s plans will take significant demand weakness out of an already weakening economy. The better construction strategy could soon be messed up by more of it, in a restart of the 2010s when the recovery from the financial crisis was stifled by austerity measures that hurt household purchasing power.

Labor and material shortages have burdened the activity in the last few months and brought growth almost to a standstill. With the delta variant threatening a difficult winter is ahead, experts warn that the UK economy is heading for a difficult phase.

The alarm bells should be ringing in the state treasury Rishi Sunak seems sanguine. There are reasons why the Chancellor can comfort herself a little. The Bank of England expects inflation to decline from a high near 4% this year as temporary factors recede.

Since the CPI is based on the annual change in the price of the basket of goods and services, much of the recent surge reflects a sharp setback after a record drop last year. Accordingly, record price increases in the last 12 months would have to set new records again and again in the next 12, and that is unlikely.

The biggest factor this August was the “Chancellor”“Eat up to help“A year earlier, when Sunak’s half-price dishes temporarily cut the cost of living. The National Statistics Bureau said inflation should have been at least 0.4 percentage points lower as a result.

But while the Chancellor was praised for her domestic help last year, the pressure is growing for the opposite reason.

Business leaders warn of delivery disruptions hold for at least two years and some changes will prove permanent, especially from Brexit the establishment of tighter trade barriers and the reduction in the supply of EU workers in the UK.

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The disruption of the supply chain is in full swing Worst since the 1970s and companies report a Record number of job vacancies. Shipping costs have quadrupled, raw material costs for manufacturers have skyrocketed, and global energy prices have hit record highs.

As growth hits a slump this fall, economists warn that there is a hint of stagflation in the air. It will be an uncomfortable time for the Treasury and the Bank of England, but even tougher for the UK budget under pressure.

XTM Indicators Letter of Intent with North American-Primarily based Harlo Leisure

MIAMI and TORONTO, February 17, 2021 / PRNewswire / – XTM, Inc. (“XTM” or the “Company”) (QB: XTMIF) (CSE: PAID), (FSE: 7XT), a Miami and TorontoThe neo-banking fintech company that provides mobile banking and payment solutions worldwide is pleased to announce that it has signed a Letter of Intent (LOI. LOI) with one of its largest corporations, Harlo Entertainment (“HARLO”) ) has signed hospitality and entertainment groups in North America.

Harlo Entertainment has more than $ 250 million in assets under management with an emphasis on investing in the hospitality, entertainment, lifestyle and technology industries. Under the terms of the LOI, XTM will partner with Harlo to launch its hospitality-focused mobile app and payout solution Today, which will meet the needs of all Harlo Entertainment properties

“We look forward to working with this innovative fintech company, XTM, to provide our employees with instant access to their earnings with a free and elegant user experience,” he commented Mike Kimel, Chairman and co-founder, Harlo Entertainment. “The hardworking employees of our companies are the blood of our company. We are committed to equipping them with tools that create a fair working environment and financial inclusion for the benefit of all.”

“Harlo Entertainment represents world-class brands that we are happy to add to our growing customer base,” he said Marilyn Schaffer, THE PRESIDENT. “This is a strategic partnership that will become a significant opportunity for XTM for a number of reasons. We believe we can add tremendous value to the Harlo team and we continue to strive to make some quick wins the one.” Offer added value. ” Supplements for everyone. ”

About XTM Inc.

XTM, is a Miami and Toronto-based fintech innovator in neo-banking, helping businesses and workers accelerate profit payout and eliminate bank fees. We are a global card issuer and specialist in real-time payments, providing companies with our technology to automate and accelerate employee payouts, which can also be used to save cash. XTM integrates companies into a payment ecosystem that is coupled with a free mobile app and a Visa or Mastercard debit card with free banking functions. XTM increases company value and ensures a positive user experience.

About Harlo Entertainment

Harlo Entertainment is a North American investment group focused on the hospitality, entertainment, lifestyle and technology industries. We use our expertise. We actively support and focus on growing all of our investments from the ground up. We take a value-based approach to investing with a clear focus on operational improvements to drive performance and growth. Notable endeavors include the creation of Chase Hospitality Group (CHG), a globally recognized brand responsible for creating leading culinary destinations, including award-winning flagship restaurant The Chase. As well as a key role in the development and success of Miami Sights Komodo, Swan and Papi Steak.

For more information
E-mail: [email protected]

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (the “forward-looking statements”) within the meaning of applicable Canadian securities laws, including the expected performance of XTM’s expectation that companies with which XTM does business or undertakes has to do business in the expected time frame, the continuing trend towards electronic payment methods that the integrations will attract new business owners to use the Today program, and the general terms and revenues of XTM. Forward-looking statements are statements that are not historical facts and are generally, though not always, characterized by words such as “expect”, “plan”, “anticipate”, “project”, “aim”, “potentially”, “plan” are “,” forecast “,” budget “,” estimate “,” intention “or” belief “and similar expressions or their negative connotations or that events or conditions” will “,” would “,” may “,” could “, “Should” or “could” occur. While XTM makes its best use of its ability to estimate when companies will reopen or return to pre-Covid 19 levels, there is no guarantee that this will happen in the time the company expects or if at all. All such forward-looking statements are based on the opinions and estimates of management as of the date of this statement. These forward-looking statements speak as of the date of this press release. Readers are cautioned to keep sic h Do not place undue reliance on forward-looking statements as there can be no assurance that the future circumstances, results or results anticipated or implied in such forward-looking statements will materialize or that any plans, intentions or expectations on which there may be any forward-looking Statements made.

The CSE has neither approved nor disapproved the contents of this press release, and the CSE assumes no responsibility for the adequacy or accuracy of this press release.


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