4 May 2022 - Government stymied by rising prices

Prime Minister Boris Johnson admitted yesterday that being able to help the population deal with the rise of the cost of living is beyond the capabilities of the Government. Johnson refused to consider a windfall tax on energy companies who are making record profits as the cost of both petrol and gas go through the roof. BP made a record profit of £6 billion in the first quarter. This has further stoked public indignation amid accusations of profiteering. In an interview yesterday, Johnson went on to say that using public funds to try to offset the increase in energy prices would be impossible given the size and scale of the problem. The cap on energy prices was raised on April 1st and already the level of those either already in arrears or being forced to make compromises in other areas of the household budget is already rising exponentially. Beyond Currency Market Commentary: Aims to provide deep insights into the political and economic events worldwide that can cause currencies to change and how this can affect your FX Exposure.