Announced by Chancellor Jeremy Hunt in the November 2023 Autumn Statement, the National Insurance (NI) cuts are now in effect as of 6 January 2024, with further cuts for self-employed taxpayers scheduled to arrive 6 April 2024. For those who can afford it, these cuts to National Insurance rates could present a perfect opportunity to increase your pension over time.
The Government's decision to extend automatic enrolment to workers aged between 18 and 21 could mean an additional £105bn of pension savings for younger people across the UK over the next 50 years, according to new analysis by People's Partnership, which provides The People's Pension to more than 6.5 million people across the UK. Following the passing of a new Bill in Parliament last year, automatic enrolment, which has seen nearly 11 million people start saving into a pension since 2012, is set to be extended to workers aged between 18 to 21 by the mid-2020s.
The University of the Highlands and Islands (UHI) has been shortlisted in two categories at the Scottish Knowledge Exchange Awards 2024, celebrating the people and partnerships behind ground-breaking innovations. The Flow Country Partnership , working with the Environmental Research Institute in Thurso, part of UHI North, West and Hebrides , nominated for the ‘Making an Environmental Difference' award.
The Chair of The Highland Council's Economy and Infrastructure Committee has announced that a 3-week trial of a thermal process for pothole repairs will be taking place. An external contractor, Thermal Road Repairs, has been appointed to undertake the trial before the end of the 2023/24 financial year.
Scottish salmon was today named as the UK's top food export in 2023, following the publication of annual HMRC figures. Sales of the nutritious fish grown in the waters off the Highlands and islands increased by 0.5 per cent to £581 million in the calendar year - equivalent to £1.6 million every day.
Around 700,000 families, who receive tax credits and no other qualifying benefits, will receive their £299 Cost of Living Payment from today, 16 February 2024, to help with everyday costs. HM Revenue and Customs (HMRC) is making the payments to eligible tax credits customers across the UK between 16 and 22 February 2024.
Because of a safety inspection of the track between Brora and Helmsdale all lines are closed. Disruption is expected until the end of today (16 February 2024).
Led by supermarket and food sales, retail spending soared by 3.9% in January, according to new official figures. However, the home delivery expert ParcelHero cautions New Year fashion and online sales failed to register.
The UK economy fell into recession in the second half of 2023, but families have experienced a far deeper living standards downturn, with GDP per capita now 4.2 per cent off its pre-cost of living crisis path - equivalent to a loss of nearly £1,500 per household – the Resolution Foundation said today. Weaker than expected growth meant that the economy contracted by 0.5 per cent in the second half of 2023, while the economy grew by 0.1 per cent over the whole of 2023.
Private rental prices paid by tenants in the UK rose by 6.2% in the 12 months to January 2024, unchanged for the second consecutive month. Annual private rental prices increased by 6.1% in England, 7.0% in Wales and 6.8% in Scotland in the 12 months to January 2024.
Because of a safety inspection of the track between Brora and Helmsdale all lines are closed. Disruption is expected until the end of today (15 February 2024).
Short-term measures of output by construction industry in December 2023, contracts awarded for new construction work in Great Britain and a summary of the Construction Output Price Indices (OPIs) in the UK for Quarter 4 (Oct to Dec) 2023. Quarterly construction output saw a decrease of 1.3% in Quarter 4 (Oct to Dec) 2023 compared with Quarter 3 (July to Sept) 2023; this came solely from a decrease in new work (5.0% fall), as repair and maintenance increased by 4.0%.
With the Self Assessment tax deadline behind us, HM Revenue and Customs (HMRC) is warning people to be wary of bogus tax refund offers. Fraudsters could set their sights on Self Assessment customers, with more than 11.5 million submitting a tax return by last month's deadline.
UK gross domestic product (GDP) is estimated to have fallen by 0.3% in Quarter 4 (Oct to Dec) 2023, following an unrevised fall of 0.1% in the previous quarter. While the economy has now decreased for two consecutive quarters, across 2023, GDP is estimated to have increased by 0.1% compared with 2022.
Estimates for the most recent months are provisional and are likely to be updated as more data is included. The House Price Index for December 2023 reflects transactions that took place up to the end of December.
Monthly house price inflation in the UK, calculated using data from HM Land Registry, Registers of Scotland, and Land and Property Services Northern Ireland. Average UK house prices decreased by 1.4% in the 12 months to December 2023 (provisional estimate), up from a decrease of 2.3% (revised estimate) in the 12 months to November 2023.
The UK and Latvia will jointly lead a capability coalition, which will see thousands of drones supplied to Ukraine, including first-person view (FPV) drones, which have proven highly effective on the battlefield. Ukraine will receive thousands more drones as Defence Secretary Grant Shapps announces today that the UK will co-lead a major drone capability coalition with Latvia for Ukraine.
The value of goods imports decreased by £2.6 billion (5.4%) in December 2023, with falls in imports from both EU and non-EU countries, primarily driven by decreased imports of fuels. The value of goods exports decreased by £0.7 billion (2.2%) in December 2023, because of lower exports to the EU.
A Kings fund report published on 13 February 2024. Although the focus is on England there are many similar issues for Scotland's Health Services.
The video from the Good Morning Britain show sets out the basics so far..
