UK EXPECTED TO ANNOUNCE MORE RUSSIAN SANCTIONS

More than a hundred Russians with links to Vladimir Putin are expected to be sanctioned following the passing of the Economic Crime Bill (The Times). The Bill, which is expected to receive royal assent today, removes the test of ?appropriateness? for designations, enabling the government to add individuals to the sanction list more easily. Prime minister Boris Johnson has said the new legislation would allow the government to act ?harder and faster?, with the changes meaning the UK can mirror action taken by the US and the EU (Financial Times).

A poll for Sky News has found that the majority of people in Britain think the current sanctions on Russia do not go far enough and would support tougher action even if it increased the cost of living.

WAGE GROWTH LAGS BEHIND INFLATION

Increases in UK wages have failed to match the rise in the cost of living between November and January, according to figures published by the Office for National Statistics (ONS) (BBC News). While wages have increased, rising inflation has meant that average earnings are one per cent lower in real terms than they were a year ago, the largest decline since July 2014 (Sky News). The ONS data also shows that the unemployment rate has fallen below pre-pandemic levels, down to 3.9 per cent in the three months to January (Reuters).

NEWS IN BRIEF

The National Crime Agency has called for the regulation of cryptocurrency mixing technology which criminals can use to disguise transactions that are otherwise traceable on blockchains (Financial Times). Meanwhile The Times reports that the number of cryptocurrency scam reports to the Financial Conduct Authority has more than doubled in the past year.

New lockdowns in China following an increase in Covid-19 cases in the country could impact global supply chains (The Times).

A group of 33 civil society organisations have written to the government urging it to bring forward pledged spending on insulation and heat pumps, as well as reinstating the increase in universal credit, in order to help households manage the rise in energy and food prices (The Guardian).

All remaining Covid-19 travel measures, including the Passenger Locator Form and tests for arrivals, will be removed this Friday morning (Sky News).