Britain's number of licensed premises has fallen by 3.6% over the last 12 months to 99,916 sites, according to the latest Hospitality Market Monitor from CGA by NIQ and AlixPartners. The total at the end of September 2023 marks the first time it has dropped below 100,000 in the Monitor's history.
Stickier-than-expected inflation is leading to higher tax receipts and lower borrowing that will increase the Chancellor's fiscal headroom to around £13 billion in his Autumn Statement. But this extra headroom is a ‘fiscal illusion’ founded on pretending the higher inflation that boosts tax revenues won’t push up spending too, according to new Resolution Foundation research published today (Monday 6 November 2023).
The Government is taking further steps to support the UK's transition to net zero by confirming new licensing opportunities. Government to mandate annual oil and gas licensing to bolster UK's energy security and reduce dependence on imports from overseas Certainty on future licensing will help secure 200,000 jobs and billions in tax receipts .
Over the past month, several introductory interest-free offers have been slashed. The latest analysis by Moneyfactscompare.co.uk highlights the movement in the market and the current top offers for consumers looking for a new deal.
A new report from Cornwall Insight has exposed the challenges facing Europe's Liquified Natural Gas (LNG) supply, as growing competition from China and price rises increase pressure on the gas market. The analysis, focusing on LNG security over the upcoming winter, highlights that heightened Chinese gas demand, driven by economic recovery following repeated COVID-19 lockdowns could intensify the competition to secure LNG.
The Scottish Government has become the first national administration in the UK to be accredited as a Living Hours employer following commitments to provide secure contracts and flexible hours. The announcement was made by Fair Work Secretary Neil Gray at the beginning of Living Wage Week, which highlights the benefits to businesses, employees and the economy of paying the real Living Wage.
Women and girls will be better protected and victims' needs prioritised as part of reforms to improve justice services and create safer communities. The Vision for Justice Delivery Plan published today also includes actions to address long-standing challenges in the system faced by victims of sexual offences, and the continued modernisation of the prison estate.
Actions to help improve the lives of British Sign Language (BSL) users have been published as part of ongoing work to make Scotland the best place to live, work and visit for people that use the language. The BSL National Plan 2023-29 has made 45 commitments aimed at tackling barriers faced by BSL users by embedding the language across health, education, transport, culture and employment.
When old tech meets new tech it's generally a recipe for disaster, but in combining the latest generative AI tools with the accounting world's favourite software. Accountants around the world have found plenty of benefits.
Stronger than expected wage growth means the National Living Wage (NLW) could rise to around £11.46 an hour next April - well above the £11 suggested by the Chancellor earlier this month, according to a new Resolution Foundation briefing published on Saturday 4 November 2023. The briefing - which uses the Low Pay Commission's methodology to calculate what the National Living Wage could rise to next year – notes that as the NLW is currently pegged to median hourly pay, strong wage growth in recent months (average weekly earnings grew by 7.8 per cent in the three months to August) should increase its cash value next April.
At this year's Conservative Party Conference, the Chancellor announced that the minimum wage would rise to at least £11 next year, up from its current rate of £10.42. But he may have under-promised.
A report by the Institute for Fiscal Studies. We comprehensively examine the changing patterns of retirement in the UK for different groups in society.
The gender pay gap has been declining slowly over time; over the last decade it has fallen by approximately a quarter among full-time employees, and in April 2023 it stands at 7.7%. There remains a large difference in the gender pay gap between employees aged 40 years and over and those aged under 40 years.
New laws to set the country on the right path for the long-term will be revealed in next week's King's Speech. New laws to set the country on the right path for the long-term will be revealed in next week’s King’s Speech.
An Article by Richard Hattersley at accountingweb https://www.accountingweb.co.uk/. Small companies will have to file a profit and loss account with Companies House following the passing of the Economic Crime and Corporate Transparency Act last week.
Fair Work Secretary Neil Gray has welcomed figures showing the gender pay gap in Scotland has fallen to a record low. The Office for National Statistics (ONS) Annual Survey of Hours and Earnings shows the gender pay gap in Scotland fell from 3% in 2022 to 1.7% in 2023 - the lowest since the series began in 1997.
Helen Miller is Deputy Director of the Institute for Fiscal Studies (IFS) and Head of the Tax sector and she has written an article in the Telegraph on taxes. "The Chancellor doesn't need to wait for fiscal headroom to reform public finances" says Helen Miller in The Telegraph.
UK Government responds to expert committee recommendations on consumer CBD products. Cannabidiol (CBD) is a non-psychoactive cannabinoid present in the cannabis plant (Cannabis sativa L) along with many other cannabinoids that may either exhibit psychoactive or non-psychoactive properties.
1 More than 3 million working-age adults in the UK receive health-related benefits. The government has announced plans to first tighten, and then scrap entirely, the Work Capability Assessment - one of the two assessments used for determining eligibility to these benefits.
The slowdown in the money supply means inflation could fall below target and cause a recession The Institute of Economic Affairs' Shadow Monetary Policy Committee (SMPC) voted (7-2) to cut Bank Rate. The SMPC also voted to halt or scale down (8-1) Quantitative Tightening (QT) and one member voted to resume Quantitative Easing (QE).
