The UK's inflation target is 2%, but 3 per cent would do just as well. Let me explain.
Why are we imposing tax rates only designed for those with much higher incomes onto students earning little more than the minimum wage? It makes no sense, at all. Why are so many people paying up to 38 per cent tax on quite, well, average levels of earnings in the UK? As we know, the basic rate of income tax on earnings up to £50,270 a year in the UK in 2024 is supposedly 20%.
The vast majority of Britain's extremely wealthy people would never leave the country for tax reasons, partly due to the stigma involved in doing so, according to new research from the International Inequalities Institute at LSE. Tax advantageous destinations are widely regarded by the wealthy as ‘boring' and ‘culturally barren' and tax migrants are judged on moral grounds as unduly economically self-interested.
Pensioners in five Scottish local authorities will be the first in the country eligible for a new disability benefit, subject to parliamentary approval of regulations. From 21 October 2024, Pension Age Disability Payment - the replacement for Attendance Allowance - will be piloted in Argyll & Bute, Highland, Aberdeen City, Orkney and Shetland.
There have been several recent reports of cold callers offering to carry out work on properties including gardening and driveway cleaning. One man paid cold callers £700 in cash to clean his slabs.
The minimum price per unit of alcohol will increase by 15 pence after the Scottish Parliament approved plans to continue with the public health measure. As part of a ‘sunset clause' when Minimum Unit Pricing (MUP) legislation was introduced in 2018, it had been due to end on 30 April, however today's vote by MSPs ensures its continuation.
According to our Big Scottish Scam Survey, the most common scams are related to deliveries, with 55% of respondents having experienced a delivery scam last year. One recent scam text message reads: "EVRI mail package in process of transportation due to damage to the outer package, address information is lost, can not be delivered.
The Bank of England is determined to keep interest rates high, create a recession and keep unemployment high until inflation hits 2%. But no one knows why 2% is the right inflation target.
Consultation on VAT relief on everyday charitable donations will be launched before 23 July 2024. New VAT relief to encourage businesses to donate everyday items to charity will be consulted on.
CPI inflation fell to 3.2 per cent in March - falling below the US inflation rate (CPI for All Urban Consumers) of 3.5 per cent for the first time since March 2022 (but still above the Eurozone rate of 2.4 per cent) – bringing an end to the UK's unwanted status as an outlier on inflation, the Resolution Foundation said on Wednesday in response to the latest ONS data. The latest fall was less than markets expected, but driven by a welcome fall in food inflation (down to 4 per cent, from 19.1 per cent last year).
Wick RNLI lifeboat the Roy Barker II was launched at 7:15pm on Sunday 14 April to go to the assistance of a round Britain rower. The rower had successfully passaged through the Pentland Firth and was making his way down the east coast towards Freswick when there was a change of wind direction which made getting around the headland against both wind and tide very difficult.
The Scottish Youth Parliament (SYP) has welcomed five new Highland members following the outcome of recent elections. Members of the Scottish Youth Parliament (MSYP) are elected every two years and become the voice of Scotland's young people.
The UK's wealthiest people get an average of more than £8,000 a year in total tax reliefs on their pension contributions - which is as much as some pensioners get from the state and vastly more than Universal Credit permits. Why do we have a tax system that so heavily subsidies the wealthy when so many live in poverty? ABOUT RICHARD MURPHY Richard Murphy is Professor of Accounting Practice at Sheffield University Management School.
Changes in the prices of goods bought and sold by UK manufacturers including price indices of materials and fuels purchased (input prices) and factory gate prices (output prices). Also including quarterly estimates monitoring the changes in prices charged for services provided to UK-based customers for a range of industries.
Deputy First Minister Shona Robison has welcomed the signing of a partnership between Scottish enterprise agencies and HD Hyundai Heavy Industries, which will unlock expertise in the design and manufacture of floating offshore wind substructures. Scottish Enterprise (SE) and Highlands & Islands Enterprise (HIE) signed a Memorandum of Understanding (MoU) with the company in Edinburgh, described as a "vote of confidence" in Scotland, committing each other to pursue opportunities for floating offshore wind projects here.
Early estimates for March 2024 indicate that the number of payrolled employees rose by 0.7% compared with March 2023, a rise of 204,000 employees. This annual increase was largest in the health and social work sector, with a rise of 172,000 employees.
An innovative retractable wingsail that developer Smart Green Shipping estimates can save commercial shipping companies up to 30% fuel per year will be launched by First Minister Humza Yousaf today (Wednesday 17 April 2024). Its development has been supported by £1.8 million Scottish Enterprise grant funding and £1.35 million equity investment from leading Japanese shipping company MOL Drybulk and Scottish Enterprise, with South of Scotland Enterprise helping the company establish a base in Dumfries.
The Consumer Prices Index including owner occupiers' housing costs (CPIH) rose by 3.8% in the 12 months to March 2024, unchanged from February. On a monthly basis, CPIH rose by 0.6% in March 2024, compared with a rise of 0.7% in March 2023.
New proposals to give consumers confidence to take up smart devices. Consultation part of wider action to modernise the energy system, proposals will reduce pressure on the electricity grid, support up to 24,000 jobs and save up to £50 billion new measures to help consumers benefit from the best energy deals via a smart, flexible electricity system to save money on bills strengthened protections will mean consumers can be confident their data will be handled securely and that they can access the best deals using any device.
Companies which took part in the Scottish Government's first ever business delegation at COP28 say they expect to generate an estimated £66.74 million in net zero export sales over the next three years according to a new report published today. A total of 19 net zero focussed Scottish companies attended the programme of business activities at the global climate summit in Dubai last year, supported by the First Minister Humza Yousaf and the Cabinet Secretary for Wellbeing Economy and Net Zero Màiri McAllan.
