UK government borrowing falls but debt interest payments hit December record – business live

Rolling coverage of the latest economic and financial news UK borrowed £16.8bn in December, less than economists expected Fourth-highest December borrowing on record Interest payments on central government debt were £8.1bn, a December record Higher inflation pushed up debt repayment costs US stock markets see another wild day amid concerns over Fed and Ukraine […]

Read More

McKinsey: fundamental transformation of global economy needed for net zero

$9tn of annual investment required to avoid most catastrophic climate impacts, consultancy says Reaching net zero climate emissions by 2050 will require a “fundamental transformation of the global economy”, according to a report by McKinsey, one of the world’s most influential consulting firms. It estimates that $9.2tn will need to be invested every year […]

Read More

Scrap national insurance rise, says ex-minister David Davis

Former Brexit secretary last week called for Boris Johnson to resign over alleged breaches of Covid rules Former Conservative Cabinet minister David Davis has called for the planned tax rise hitting national insurance contributions to be scrapped as a cost-of-living crisis looms, adding further pressure on the government. National insurance contributions, which are paid […]

Read More