News Archive
1/8/2024
Business Insights And Impact On The UK Economy - 1 August 2024
The impact of challenges facing the economy and other events on UK businesses. Based on responses from the voluntary fortnightly business survey (BICS) to deliver real-time information to help assess issues affecting UK businesses and economy, including financial performance, workforce, trade, and business resilience.1/8/2024
Bank Of England Announces Bank Rate Reduced To 5% On 1 August 2024
The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine the monetary stance required to achieve the inflation target sustainably.1/8/2024
Austerity Does Not Save Money - Richard Murphy
Like almost all economic truths, austerity works in the opposite way to that which most people think. It does not save money.
31/7/2024
Husband-and-wife Directors Of Care Recruitment Company Banned After Failing To Pay More Than £30 Million In Tax
The pair significantly under-declared the amount of tax their company owed to HM Revenue and Customs. Raja Usman and his wife Khair Un Nisa were directors of Umbrella Care Ltd, a Derby-based company which provided workers to the care sector.31/7/2024
More Retailers And Logistics Firms Are Dying And Fewer Are Being ‘born' Than Pre-pandemic
In the first half of this year, 13,390 retailers and 10,595 transportation & storage sector companies were 'born' but a whopping 14,500 retailers and 13,150 transportation & storage companies 'died'. Worse still, fewer new companies are being launched than in pre-pandemic 2019 and significantly more are failing, says the delivery expert Parcelhero.31/7/2024
Stepchange Advice Group Highlights Soaring Council Tax Debts
Scotland in the Red is a report published annually by StepChange which looks at some of the key issues that have been facing clients in Scotland in the 2023 analysis recently published. We can see the particular problems that have arisen from.....31/7/2024
Households' Finances And Saving UK - 2020 To 2024
The UK household saving ratio peaked at 27.4% in Quarter 2 (Apr to June) 2020, mainly because of the suppression of consumption opportunities during the coronavirus (COVID-19) pandemic; Having decreased to 6.6% in Quarter 2 2022, the ratio has risen steadily to 11.1% in Quarter 1 (Jan to Mar) 2024. These increases have coincided with cost of living pressures, weak consumer confidence and slower growth in household consumption.
31/7/2024
Trade Remedies Authority - TRA Defends £22 Billion Of UK Trade
The TRA highlights its achievements in protecting the UK's economic interests against unfair international trade practices in new Annual Report and Accounts. The report, covering the financial year 2023-24, showcases the TRA's ability to adapt and thrive in the face of a rapidly changing global trade environment.
31/7/2024
Housing Targets Increased To Get Britain Building Again
The government has announced an overhaul of the planning system to fix the foundations and grow the economy. Government to fix the foundations with an overhaul of the planning system that will see new mandatory targets for councils.
31/7/2024
Scotland Sees Drop In Birth Rate Again As Reported By Registers of Scotland
There were 45,935 live births registered in 2023, a slight decrease of 2% on the year before and the lowest annual total since records began in 1855. Births have been falling over the long term and fell to their lowest point in 2002 before increasing to reach a recent high point of 60,041 in 2008, generally decreasing since then.31/7/2024
UK Export Finance Helps 650 UK Businesses To Sell Overseas
UK economy and workers have benefited from the government export credit agency's highest level of business since 2020. UK Export Finance provided £8.8 billion in new financing last year, helping 650 UK companies to export.
31/7/2024
Reeves Accuses Hunt Of £22bn Lie; Nonsense, He Says. What's The Truth?
Rachel Reeves has accused Jeremy Hunt, her predecessor as chancellor, of lying about the state of the public finances inherited by the Labour government. Hunt has dismissed the claims as "absolute nonsense".31/7/2024
Government Commits To A Genuine Living Wage For Working People
In a move to put more money in working people's pockets, the government has today [Tuesday 30th July] overhauled the remit of the Low Pay Commission (LPC). Government takes first step to deliver on the promise of a genuine living wage for working people.
31/7/2024
Expert Taskforce To Spearhead A New Generation Of New Towns
A new generation of new towns to kickstart economic growth and get Britain building again. Long-term vision to deliver largescale new communities of at least 10,000 new homes each set out.
31/7/2024
Fixing The Foundations - Uk Public Spending Audit 2024-25
On 8 July, the Chancellor of the Exchequer announced that she had instructed Treasury officials to undertake a rapid audit of public spending. This document sets out the outcome of the audit, the immediate action the government is taking in response, and the long-term measures being introduced to restore public spending control.31/7/2024
Record Breaking Funding For Clean Energy In Britain
Government announces budget of over £1.5 billion to deliver homegrown clean energy projects and boost UK's energy security Increase of over 50 per cent on previous budget with biggest boost for offshore wind. New milestone in mission for clean, cheap energy for families and businesses.
31/7/2024
New Minimum Wage Remit Is A One-year Holding Position For The Main Adult Rate, But Could Mean Large Pay Rises For Young Workers
The Government has chosen a steady-as-she-goes one-year holding position for the minimum wage in 2025, with the adult rate (the ‘National Living Wage') likely to rise in line with average earnings. Workers under 21 may see faster pay rises as the age-specific minimum wage rate for 18-20 year olds is set to converge with the main National Living Wage, the Resolution Foundation said on Tuesday 30 July 2024.31/7/2024
Armed Forces Awarded Largest Pay Increase In Decades To Renew Nation's Contract With Those Who Serve
Government Armed Forces Pay Announcement confirms starting Armed Forces salary will be in line with National Living Wage for the first time. The government will "renew the nation's contract with those who serve", as it confirms that Armed Forces personnel will receive a 6% pay rise - the largest in 22 years.
31/7/2024
The Biggest Group Of Voters - Grannies And Grandads Feeling The Cold This Coming Winter May Change Their Next Vote
Richard Murphy in his blog taxresearch.co.uk has described the position following Rachel Reeves announcement to withdraw the Heating allowance from pensioners not in receipt of pension credit. There are 12.6 million pensioners in the UK.31/7/2024
