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News Archive
17/5/2023
Average Weekly Earnings In Great Britain - May 2023
Growth in employees' average total pay (including bonuses) was 5.8% and growth in regular pay (excluding bonuses) was 6.7% in January to March 2023. Total pay growth continues to be smaller than regular pay growth because of bonuses; the bonus payments made in March 2023 are at similar levels to March 2022, with the exception of the construction sector and wholesaling, retailing, hotels and restaurants sector that saw a slight decrease.
17/5/2023
Radical Change Is Needed Across Scotland's Councils
Scotland's councils must radically change how they operate - particularly how they collaborate with partners - if they are to improve and maintain services to their communities. Councils worked well with their partners to address the impacts of Covid-19.
17/5/2023
UKAEA Launches Tritium Training Course To Upskill Fusion Industry
New tritium training course launched by UKAEA to drive forward tritium research across the scientific and engineering community. United Kingdom Atomic Energy Authority (UKAEA) has launched a new tritium training course - taking place on 27 June 2023 - as part of its commitment to upskill the fusion industry.
17/5/2023
Employment In The UK - May 2023
January to March 2023 estimates show increases in the employment rate and the unemployment rate compared with the previous quarter (October to December 2022), while the economic inactivity rate decreased. Total hours worked increased compared with the previous quarter and are just slightly below pre-coronavirus (COVID-19) pandemic levels.
17/5/2023
Retailers Waiting For Summer
UK Total retail sales increased by 5.1% in April, against a decline of 0.3% in April 2022. This is in line with the 3-month average growth of 5.1% and above the 12-month average growth of 3.0%.17/5/2023
Lump Sum Payment For War Widows
A one-off payment of £87,500 for eligible spouses in recognition of those who forfeited their pensions prior to 2015. A one-off payment of £87,500 for eligible spouses.16/5/2023
UK Economy - Why The Bank Of England Is Now More Upbeat Than The IMF
The Bank of England has changed its mind about the prospects for the UK economy. Having been predicting a recession in 2023 as recently as February, its latest May report is expecting a soft landing from the bout of high inflation and a year of interest rate hikes.
16/5/2023
UK Leads Europe In Race For Space Investment, New Report Finds
A PwC-UK Space Agency report reveals the UK is the most attractive destination for private investment in space after the US. The UK is the most attractive destination for private investment in space after the US.
16/5/2023
Government Backs British Farmers With New Package Of Support
Prime Minister sets out new support for farmers to strengthen food security and grow the economy. Farmers will benefit from a commitment to protect their interests in future trade deals, support to boost domestic fruit and veg production and new investment in technologies, thanks to a package of support set out by the Prime Minister Rishi Sunak ahead of a summit hosted at Downing Street today (16 May 2023).
16/5/2023
One In Five Taxpayers, And One In Four Teachers, Set To Be Paying Higher-rate Tax By 2027 As Threshold Freezes Bite
By 2027-28 the number of people paying income tax at 40% or above will reach 7.8 million - that's one in five taxpayers and one in seven adults. By 2027-28 the number of people paying income tax at 40% or above will reach 7.8million - that's one in five taxpayers and one in seven of the adult population - a near-quadrupling of the share of adults paying higher rates since the early 1990s.
16/5/2023
Developing A New Deal For Business
Co-chair announced for group to work with private sector. Involving businesses at an early stage of policy development will be one of the key aims of a group established by the Scottish Government to deepen links with the private sector.16/5/2023
New Fund To Help Scottish Bakers Make Their Food Healthier
Food and Drink Federation (FDF) Scotland - in partnership with Food Standards Scotland (FSS) - has launched a new fund to help Scottish bakery businesses to make their products healthier. The Healthier Bakery Fund is open to all businesses based in Scotland that produce sweet or savoury bakery goods such as cakes, pies, pastries and bread.
16/5/2023
CMA Update On Action To Help Contain Cost Of Living Pressures
The CMA today updated on the action it is taking to help contain rising cost of living pressures in road fuel and groceries. Whilst many of the factors driving price increases are not competition related, the Competition and Markets Authority (CMA) has a vital role to play in giving consumers assurance that competition in critical markets is working well, so they can exercise choice with confidence.
16/5/2023
The UK Needs A New Industrial Strategy Or It Will Lose The Global Green Subsidy Race
UK businesses have criticised the government for the lack of a clear industrial policy. Industry body Make UK has warned the country "risks being squeezed" by US and EU green subsidy packages.16/5/2023
Food And Drink Federation Urges Urgent Action To Tackle Food And Drink Inflation
The Food and Drink Federation (FDF) believes the Food and Drink Summit in Downing Street is a critical opportunity for the government and industry to join forces on driving down food and drink price inflation. The trade organisation says the government must use the meeting as an opportunity to fully engage the food and drink sector on initiatives to drive growth, increase productivity and create jobs while driving down food and drink price inflation.16/5/2023
Earnings And Employment From Pay As You Earn Real Time Information UK - May 2023
Early estimates for April 2023 indicate that the number of payrolled employees rose by 1.0% compared with April 2022, a rise of 297,000 employees; the number of payrolled employees was up by 2.9% since February 2020, a rise of 838,000. Payrolled employment decreased by 136,000 employees (0.5%) in April 2023 when compared with March 2023; this is the first fall in total payrolled employees since the coronavirus (COVID-19) pandemic, though this should be treated as a provisional estimate and is likely to be revised when more data are received next month.
16/5/2023
International Students Boost UK Economy By £41.9 Billion
New data reveals that the intake of international students in the 2021/22 academic year contributed a huge £41.9 billion to the UK economy. New figures show economic benefit of international students rose from £31.3bn to £41.9bn between 2018/19 and 2021/22 International students in Glasgow, London, Sheffield, Nottingham and Newcastle are among those to deliver the greatest financial contributions.16/5/2023
Small Modular Nuclear Reactors Wales Is Building That Caithness Will Not Get
A story today (16 May 2023) in Business News Wales highlights the fact that other areas in the UK are benefiting from Small Nuclear Reactors coming online. Caithness like the rest of Scotland will not see these developed in Scotland due to SNP policy.16/5/2023
Ferguson Marine Update - You Would Have To Laugh If This Was Not So Seriously Wasting Money
Scottish Ministers have taken action to ensure the completion of two ferries by Ferguson Marine following a due diligence assessment carried out on forecast costs. In an update to parliament, Wellbeing Economy Secretary Neil Gray re-affirmed the Scottish Government's commitment to supporting the completion of the vessels, which remain the quickest way of introducing new lifeline connectivity for island communities.16/5/2023
Number Of HMRC Self Assessment Customers Who File Early Doubles In 5 Years
The number of Self Assessment customers who choose to file their tax return on the first day of the tax year (6 April 2023) has more than doubled since 2018, HM Revenue and Customs (HMRC) has revealed. More than 77,500 customers submitted their tax return for the 2022 to 2023 tax year on 6 April 2023, compared to almost 37,000 customers on 6 April 2018.
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