Chancellor George Osborne has warned that the UK would be “permanently poorer” as a result of a Brexit. In a new treasury report he said an EU exit would leave UK national income 6% lower, or £4,300 a year per household, lower by 2030. MP John Redwood said the findings were “absurd”.
British Gas owner Centrica has confirmed plans to cut 3,000 jobs this year despite its UK division returning to profit in the first quarter. The group said the job losses, with 800 to go in the first three months of the year, would contribute to £200million worth of savings in 2016. Its UK profit came despite the number of home energy supply accounts dropping by 1.5% during the period. Boss Iain Conn said: “We continue to make good progress in implementing our strategy.”
Digital audio content group Immedia has signed a 5-year deal with sandwich firm Subway to provide seven in-store music and marketing channels called Subway Radio. It will be available to franchisees in the UK, Ireland, France, Germany, the Netherlands, Finland and Sweden.