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Only 1% of UK firms offer cost-of-living payments to staff: ONS

The Bank of England expects headline inflation to peak at 13.3% in October.

Only 1% of UK firms offer cost-of-living payments to staff: ONS

Just 1% of British businesses have offered their staff a one-off cost-of-living payment, something the Bank of England had recently flagged as an upside risk for inflation pressure, an official survey of businesses showed on Thursday.

The Office for National Statistics said 5.5% of companies employing more than 250 staff had offered such a payment in the three months leading up to mid-July.


However, a lower proportion of small companies had done so, leaving an aggregate of 1.1% for all businesses.

(Reuters)

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​Murtaza Lakhani

Lakhani donated £500,000 to the Conservative Party in 2019 through his company Mercantile & Maritime UK, ahead of Boris Johnson’s election victory. (Photo: X/@HouseofRepsPH)

Tory donor Murtaza Lakhani hit by sanctions tied to Russian energy sector

A MAJOR donor to the Conservative Party has been sanctioned by the UK and the European Union over his alleged role in the Russian oil trade.

Murtaza Lakhani, a 63-year-old Canadian-Pakistani oil magnate, has been hit with an asset freeze, travel ban and transport restrictions, The Times reported. The sanctions were imposed on the grounds that his activities materially assisted the Russian government.

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