Top news
- Asda cuts thousands of prices as supermarket war heats up
- Average price of a pint to hit big milestone
- Your comments: 'How can pubs justify £5 a pint?'
Essential reads
- 'I turned up and someone had died': Life as a children's entertainer - from salary to heckles
- Here's every bill rising in April - and how you can beat the hikes
- 'I've created something the world's biggest drinks companies are fighting over'
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Want a luxury hamper at midnight? There's an app for that
Luxury department store Fortnum & Mason is launching a rapid delivery service that will be available any time of day or night via the Zapp app.
It's the retailer's first step into the booming on-demand delivery industry, but given some of its products retail at up to £1,000, it offers a much more expensive alternative to many delivery options and targets different customers.
From loose-leaf tea to biscuit selections and luxury hampers, customers will be able to order groceries directly to their door. The launch comes after the company saw a sharp rise in sales over the Christmas period.
Liz Darran, its chief brand officer, said partnering with Zapp would ensure "customers can enjoy their favourite Fortnum's treats whenever they wish, delivered in minutes, 24/7".
What can we expect in the spring statement?
Rachel Reeves is set to provide an update on the economic health of the country when she delivers her spring statement on Wednesday.
She's under growing pressure as the latest data shows the economy flatlining - and her statement is likely to include big spending cuts and may include tax rises, which could depress economic activity further.
So what can we expect?
Income tax freeze
The chancellor could decide to extend the freeze on thresholds at which people start to pay different rates of income tax beyond the current freeze, due to end in April 2028.
This could raise about £7bn a year, investment bank Citi found, and is known as a stealth tax as it drags more people into paying higher tax as their pay goes up.
Business rates
Reeves promised to launch "a fairer business rates system" - but after reducing the relief rate for retail, hospitality, and leisure from 75% to 40% at the October budget, the industry is struggling further.
The government has been consulting with businesses to reform the current system, with the consultation closing this month, so there could be some help for those struggling - possibly increasing the relief rate from 40%.
Cash ISAs
The investment industry called on Reeves to reduce the £20,000 tax-free annual limit on cash ISAs to £4,000 to encourage more people to invest their savings in stocks and shares.
They said this would help reinvigorate the UK's capital markets, but leading building societies - who stand to lose out - objected and said it would hurt cash ISA savers
The change has been mooted for the spring statement but could be held for the budget in the autumn.
Employers' national insurance
The spring statement comes 11 days before the controversial 6 April rise in employers' national insurance contributions, announced at the October budget.
Reeves could offer some relief via an increased employment allowance, or a higher threshold before employers' national insurance becomes payable, and specific relief for the charity sector.
International aid
Reeves is expected to confirm details of how international aid funding will be reallocated to defence, after the PM said the UK's defence spending will rise to 2.5% of GDP by 2027.
Defence
The chancellor is expected to announce £400m in spending on the government's new UK Defence Investment body to "harness UK ingenuity and boost military technology", The Mirror reports.
You can read more frompolitical reporter Alix Culberton on the statement here...
'It's getting harder to live as bills go up' | 'How can pubs justify £5 a pint?'
This weekend we reported on the raft of price hikes that will come into force on 1 April.
We outlined what's coming when it comes to energy, broadband, car tax, water, stealth taxes, stamp duty and council tax -and how you could potentially beat the rises.
Catch up here if you missed it:
Readers got in touch to share their frustrations with the hikes:
Why is there a need for these energy companies to be hiking the prices? Why don't the government take back control of all our energy systems - steel, gas, electric, NHS - and bring back car manufactures to Britain railways. Margaret Thatcher sold us out.
Cindy 123
As a pensioner, we have not only lost our winter fuel allowance, we have also had enormous increases with energy providers, road tax, food prices and our local council tax. The pensioners have an increase of 4.1% which arrives in late April!
Pensioners distress
Why is the British government intent on destroying every household already struggling? It's take, take, take - they are robbing us for every last penny.
Steven
Why does the government have to raise the price cap?
Harris163
How can Ofgem let energy companies raise their prices so high that it's getting harder day by day to live in cold? The energy companies are making profits in billions of pounds per quarter.
Shashikant Patel
We've also reported today that the average price of a pint is set to top £5 next month.
Readers were quick to offer up their own thoughts.
How can pubs justify £5 a pint when my local Wetherspoons charges around £1.99 for some pints? I think some pubs just push up prices to see how much they can get away with.
Dando
£10 for two pints? Jeez! Just go to eBay. £10 will buy a superb (better quality) 40-pint beer kit . That works out at 40p per pint - not £5 per pint. Get it! Got it! Good!
Toorie
Our local pubs have been changing a fiver a pint for ales for a couple of years!
Slakemythirst
Heathrow blame game as National Grid boss says airport had 'enough power' during shutdown
The blame game over the shutdown of Heathrow on Friday has stepped up after the boss of National Grid claimed the airport had enough power from other substations to keep running.
Around 1,300 flights were cancelled or diverted after a fire knocked out an electricity substation in west London, three miles away from the airport, last Thursday night. Flights were not able to resume until Friday evening, affecting as many as 300,000 people and costing multiple millions.
John Pettigrew, the chief executive of National Grid, said there were two other substations "always available for the distribution network companies and Heathrow to take power".
It comes after Heathrow boss Thomas Woldbye defended the airport's decision to close and denied it was too reliant on the substation that erupted into flames.
"We have other substations but to switch them in takes time," he told the BBC.
"The situation was not created at Heathrow Airport, it was created outside the airport and we had to deal with the consequences."
In Pettigrew's first comments since the disruption, however, he told the Financial Times there was "no lack of capacity from the substations" and that "each substation individually can provide enough power to Heathrow".
Read more on that story here...
Mortgage offers launched to help buyers who miss looming stamp duty deadline
Skipton Building Society is launching mortgage offers to help buyers who narrowly miss the stamp duty deadline in eight days' time.
Starting today, Skipton's five-year fixed products will be at 60%, 75%, 85%, 90% and 95% loan-to-value (LTV) ratios.
The products also have cashback incentives of either 0.75% or 1.5%, which will be paid directly into a borrower's bank account 15 days after completion.
The building society is also guaranteeing it will complete all submitted cases, where conveyancers have sent across certificates of title, by no later than 25 March.
It comes as pressure mounts on first-time buyers to complete house purchases before stamp duty changes come into force on 1 April.
Rightmove's stamp duty report identified an estimated 74,000 moves, which includes 25,000 first-time buyers, that will just miss the deadline.
Should they complete in April, it will be at a combined cost of £142m in extra tax, the property site found.
What is changing?
From 1 April, the threshold at which first-time buyers start paying the tax will return to previous levels, dropping to £300,000 (from £425,000) - meaning many more will be liable.
The rate is then 5% on the portion of the house price between £300,001 and £500,000.
Families could be £1,400 a year worse off by end of decade - as pressure mounts on chancellor
The average family could be £1,400 a year worse off by the end of the decade, a charity has warned, with pressure mounting on the chancellor over her handling of the economy before her spring statement.
The Joseph Rowntree Foundation (JRF) said frozen tax thresholds, rising mortgage and rent costs, and falling real earnings are all predicted to take their toll on living standards in Britain.
It predicted the lowest income households will be £900 per year worse off than they are today - a 6% fall in their disposable income.
The poorest third will be disproportionately affected by job losses, rising housing costs and falling real benefit incomes, it said.
It warned that they could see their overall incomes fall twice as fast (6% vs around 3%) compared with the middle and top earners.
Average earnings are also set to fall by £700 per year by 2030, according to the JRF.
The charity - which conducts research into reducing poverty - said it came up with its prediction by modelling forecasts from the Bank of England and others.
The government has pledged to improve living standards across the UK by the next election, and Chancellor Rachel Reeves has rejected claims that living standards are falling.
She was asked about the JRF report on Sky News' Sunday Morning With Trevor Phillipsahead of her spring statement on Wednesday.
You can watch her response below...
Price of a pint to hit big milestone - and pubs direct blame one way
The average price of a pint is predicted to hit more than £5 next month, pubs have warned.
The British Beer and Pub Association says punters will see an increase of 21p to £5.01 in April as the sector feels the impact of the government's budget.
A rise in employer national insurance rates and significant increases to minimum wage, combined with a cut in business rates relief and packaging reform, is expected to cost the sector £650m, the association says.
Landlords have been left with no choice but to raise prices to offset the tax rises.
Brewer Shepherd Neame said last week that it would raise its beer prices - following Wetherspoons.
"The cumulative impact of these taxes and regulations is now plain to see and it is highly unfortunate that the only way many pubs can remain viable is to pass on the array of upcoming costs to consumers," Emma McClarkin, chief executive of the BBPA, says.
"It is more urgent than ever that government looks at ways to cap or reduce the costs-of-doing-business so we can keep pubs open, preserve their community value, and make sure the price of a pint remains affordable for all."
Asda cuts prices on thousands of products as supermarket price war heats up
Asda has doubled down on its pledge to offer customers the best value by slashing prices on more than 1,500 products.
Shoppers will be able to save as much as 45% on selected items in-store and online, including Philadelphia soft cheese, Cathedral City cheddar and Persil capsules.
The latest wave of Rollback scheme means almost 10,000 products - nearly a third of Asda's entire range - are being offered at a reduced price.
The supermarket's executive chairman Allan Leighton said: "Last week we signalled again our absolute commitment to lowering prices for customers and today we're further delivering on that promise.
"By rolling back prices on thousands more products we're making it even easier for our customers to save. Nearly 10,000 products have now been rolled back and we will continue to invest in lowering prices across the rest of the year and beyond."
The reductions come after Asda cut the price of petrol and diesel by 4p a litre across all its forecourts.
Last week, the retailer's announcement to slash prices caused fears to mount in the supermarket sector, with Tesco, Sainsbury's and M&S all taking a hit to their shares.
You can read more about the intensifying price war in this piece by our business presenter Ian King...
Reason for optimism in Trump trade war?
By James Sillars, business and economics reporter
It's a cautious but brighter start to the week for Europe's main stock markets.
The FTSE 100 is 0.5% up at 8,687 - recovering much of the ground lost on Friday.
The focus for investors remains firmly on US trade tariffs.
There are some signs of further US concessions ahead - a week before the Trump administration is expected to confirm its "reciprocal" tariffs to start on 2 April.
Further talks with China are planned, while the EU said last week that it may delay implementing its response to US steel and aluminium tariffs.
Some reasons for limited optimism, perhaps? We will see.
The political violence in Turkey continues to play out too, with the country's currency still under pressure in particular.
It's all linked to the arrest and detention of the mayor of Istanbul, Ekrem Imamoglu, last week.
The main rival to President Recep Tayyip Erdogan is facing trial on corruption charges - charges his supporters claim are politically motivated.
Read our full story on the unrest in Turkey here
The main stock market, the Bist 100, fell by 16% last week but was up by more than 2.5% this morning.
The lira, however, is down by 1% after hitting a record low of 42 lira to the US dollar in volatile trading at one stage last week.
One dollar is worth just shy of 38 lira.
Why so high?
The lira has plunged in value since 2021 as a result of surging inflation in Turkey, with high interest rates to combat this since last summer only having a limited effect in supporting the currency.
The rate of inflation in Turkey stands at an annual rate of 39%.
'I turned up and someone had died': Life as a children's entertainer - from salary to heckles
If you've ever spent your Monday morning commute daydreaming about starting afresh with your career, this feature is for you.Each Monday we speak to someone from a different profession to discover what it's really like.
This week we chat to Marc Lemezma, better known as Marli the Magician, about the realities of being a children's entertainer...
You can earn around...£30,000 to £60,000 a year depending on how hard you wanted to work.
The best paying job I've had was...around £800. I was asked to go to a home, set up and wait all day, just for a 45-minute show in the afternoon. The family didn't want an entertainer just to rock up.
Parents should expect to pay...around £150 for a 45-minute or hour-long slot.
The most heartwarming experience was...having a parent tell me their child is non-verbal and wouldn't get up to help in the show, but I managed to get them up and talking! There were tears from the parents and smiles from the child.
The worst experience I've had was...Turning up for a party, and seeing paramedics present. Someone in the family had collapsed and died. The event was cancelled.
Children's parties have becomemore professional... over the years. I was always focused that way but historically entertainers for parties were often hobbyists.There are no formal qualifications needed.I started magic as a hobby at age seven, so grew up as a performer. I do constantly study to learn new things, for example health and safety.
Kids just want to meet Spiderman... Charactersdrive things now. I decided to build my own character - Marli the Magician. I'm lucky that lots of children ask for him.
The strangest event I've been asked to perform at was...a dog's party. I had a call asking if I would make some balloon people for the animals.
My first job wasa TV repair technician...I progress to working in IT before giving it all up in my late thirties to become an entertainer. Alongside my children’s entertainment I also have worked as a close-up magician, speech coach, hypnotherapist, and counsellor as more recently as a funeral celebrant. I have always valued diversity at work, it keeps my mind fresh.
I work mainly... at private parties, but do a lot in schools and pre-schools for Christmas and end of year events. I sometimes work at festivals, but the school work is a good regular income. I have many who have booked me annually for 20 years.
I get a lot of heckles... but only the ones I want. Part of the process is to get children to shout out. However, there is always someone, usually an adult with a wise crack but I always have a good response. A guy once shouted: "Only an idiot would want to watch a show like this." I replied: "I see you've proved that point sir."
The best perk of the job is... meeting people and being part of happy events. Food is an occupational hazard but 99% of families offer it or drinks.
The job is awful for... a social life. I work a little less weekends than in previous years to make sure I have a social life. I do get recognised outside work, and you have to smile and get into character. Of course, you can't always remember who it is you bump into in the street.
My job does allow me to... save but entertainment is in the soul. I will slow down but I will always do a few parties.
The biggest misconception about being a children's entertainer is... that they are amateur, unskilled or in some way failed entertainers. I am a 100% professional. I work hard on marketing. I make sure I have all the needed certificates and insurance. I keep my props maintained and I have a proper contract booking system as well as proper record keeping. The second misconception is that we are childminders. I have had a few parents try to leave their kids in my care and go off to get drunk.
To perform, you need... a little fear. I relish it. It keeps me on my toes. I use some breathing exercises to manage and focus my nerves.
I have lots of great tricks... but being a member of The Magic Circle, I can't show you how I do them. Balloon modelling is always a great crowd pleaser.
