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5 Things You Need To Know, Today, on Thursday 22nd September 2022
5. Tax cuts, due to be announced on Friday, are likely to push UK borrowing and debt to unsustainable levels, a leading economic think tank has warned.
The UK will spend billions helping households and firms with energy bills, but tax cuts will have a longer-term impact on public finances, the Institute for Fiscal Studies said.
4. Hundreds of 999 call centre staff are set to join strike action scheduled for next month, their union has said.
Some 40,000 BT Group workers will strike on 6, 10, 20 and 24 October in a dispute over pay, said the Communications Workers Union (CWU).
3. Thousands more part time workers could have their benefits reduced if they do not take "active steps" to work more, under a planned welfare reform.
Chancellor Kwasi Kwarteng is expected to announce a shake-up of the benefits system to "get Britain working again".
2. Some 400,000 workers at businesses that have volunteered to pay the Real Living Wage are set to get a pay boost.
The hourly rates are rising by £1 to £10.90 across the UK and by 90p to £11.95 in London with immediate effect.
1. Interest rates are expected to rise for a seventh time in a row when an announcement is made at 12pm today.
The Bank of England is widely expected to increase rates by at leaast half a percentage point to 2.25%.