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News Archive

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17/7/2023

UK Announces New Sanctions In Response To Russia's Forced Deportation Of Ukrainian Children

Foreign Secretary James Cleverly has announced 14 new sanctions in response to Russia's attempts to destroy Ukrainian national identity.   Russian officials will face asset freezes and travel bans following their involvement in the forced deportation of Ukrainian children and the spreading of hate-inciting propaganda.  

17/7/2023

Generative AI And Journalism - The Speed of Change In Media With More for Less

The impact of AI is affecting us all in many ways that we do not yet fully realise.   Perhaps one of the more obvious is in how journalism and the media is being affected.  

17/7/2023

Household Saving Has Whipsawed Over The Past Three Years

During the pandemic, there was an unprecedented surge in household saving, accompanied by substantial debt repayments.   Between February 2020 and May 2021, total household deposits in banks and building societies rose by £247 billion, while the stock of consumer credit fell by around £28 billion.  

17/7/2023

 
Interest Rate Surge Delivers Record Biggest Wealth Fall For British Households Since World War II

Rising interest rates have caused household wealth across Britain to fall by £2.1 trillion over the past year, but there are winners - concentrated among younger generations - as well as losers if higher rates are sustained, according to major new analysis published today (Monday 17 July 2023).   The report Peaked Interest? - part of a partnership with the abrdn Financial Fairness Trust - examines the impact of rising interest rates on household wealth, and what a ‘new normal' of higher rates could mean for living standards and wealth accumulation in the future.  

17/7/2023

Foreign Secretary To Focus On AI And Russia During Un Presidency

James Cleverly is visiting the US to lead UN Security Council sessions on Ukraine and AI as UK takes on presidency, and to address the Aspen Security Forum.   James Cleverly to lead UN Security Council (UNSC) session on Ukraine and chair first ever UNSC session on Artificial Intelligence (AI) as UK takes on presidency in July.  

17/7/2023

HMRC Pledges £5.5 Million In Partnership Funding To Support Customers Who Need Extra Help

Bids for the 2024 to 2027 Voluntary and Community Sector Grant Funding, worth £5.5 million, open on 24 July 2023.   HM Revenue and Customs (HMRC) is awarding £5.5 million to voluntary and community organisations to support customers who may need extra help with their tax affairs.  

17/7/2023

Armed Forces Compensation Scheme And Veterans Welfare Reviews Published Today

The reviews have offered recommendations to improve the experience of those requiring veterans' welfare or compensation services.   Today, the long-awaited publication of the Quinquennial Review of the Armed Forces Compensation Scheme (QQR) and an independent review of the UK Government's welfare services for Veterans is being announced by the government.  

17/7/2023

Ukraine - UK Statement On The Black Sea Grain Initiative

Foreign Secretary James Cleverly has condemned Russia's withdrawal from the Black Sea Grain Initiative, which allowed the export of grain from Ukraine.   Foreign Secretary James Cleverly said, "The United Kingdom condemns in the strongest terms Russia's decision to withdraw from the Black Sea Grain Initiative.  

16/7/2023

Wellbeing Economy Makes Sound Business Sense

Wellbeing Economy Secretary Neil Gray has visited a company whose commitment to fair work and sustainability helped it survive the pandemic.   While at ACS Clothing near Glasgow, Mr Gray heard how a major creditor was so impressed with the business's approach to fair work and environmental practices it agreed to convert a debt to equity - investing enough to ensure the firm could continue through the pandemic.  

16/7/2023

UK Signs Treaty To Join Vast Indo-pacific Trade Group As New Data Shows Major Economic Benefits

Business and Trade Secretary Kemi Badenoch has formally signed the treaty to accede to CPTPP trade group in New Zealand this morning (16 July 2023).   Business and Trade Secretary Kemi Badenoch formally signed the treaty confirming the UK's accession to CPTPP - the Indo-Pacific trade bloc now worth £12 trillion in GDP – in New Zealand today [Sunday 16th July 2023].  

15/7/2023

 
Fiscal Risks And Sustainability - July 2023

The following is merely a fraction of the full report linked at the foot of this page.   The Office for Budget Responsibility (OBR) was established in 2010 to examine and report on the sustainability of the public finances.  

15/7/2023

 
Living Standards, Poverty And Inequality In The UK - 2023

A report from the Institute for Fiscal Studies.   1.  

15/7/2023

 
Business Insights And Impact On The UK Economy

Excerpts from a report from the Office for National Statistics published on 13 July 2023 linked at the bottom of the page.   Fewer than a quarter (24%) of trading businesses reported lower turnover in June 2023 compared with May 2023; in comparison, 15% reported their turnover was higher in June, with both figures broadly stable with the proportions reported for May 2023.  

15/7/2023

 
Three Mindfulness And Meditation Techniques That Could Help You Manage Work Stress

It's 10:45am on a Tuesday, and you are arriving late to work.  You've just been to the dentist who berated you for grinding your teeth - she says this is what's causing your sore jaw and neck.  

15/7/2023

Council Tax Hikes May Be Overdue, But They Seem Unlikely To Bail Out The Scottish Government

Henry Hill at conservativehome web site comments onthe SNP proposals to raise council tax for bigger houses bands E to H.   One of the ways in which devolution has actually served to undermine genuinely local government in Scotland has been the Scottish National Party's sustained squeeze on the autonomy of councils.  

15/7/2023

Impact Of Increased Cost Of Living On Adults Across Great Britain - February To May 2023

A report from the Office for National Statistics (ONS).   Analysis of the proportion of the population that are affected by an increase in their cost of living, and of the characteristics associated with financial vulnerability, using data from the Opinions and Lifestyle survey.  

15/7/2023

 
How To Recognise A Temperate Rainforest In Britain And Ireland When You See One

The term "temperate rainforest", or "Celtic rainforest", has rapidly gained public attention in the UK recently.   In February 2023, British insurance company, Aviva, awarded £38 million of funding for the restoration of these rainforests.  

14/7/2023

 
Tweaking Around The Edges Of Council Tax Does Not Fix Its Fundamental Flaws

Fraser of Allender Institute take a hard look at council tax in Scotland now that Scottish Government has consultation out with a view to increasing the higher bands.   On Wednesday, the Scottish Government and COSLA released their anticipated (and widely leaked) consultation on Council Tax changes.  

14/7/2023

Regeneration Investment Fund Evaluated

An evaluation of a decade long regeneration fund shows major social, economic and environmental benefits across Scotland as well as the creation of more than five thousand jobs.   The Scottish Partnership for Regeneration in Urban Centres (SPRUCE) fund, originally set up using the European Regional Development Fund (ERDF), provided commercial loans to infrastructure and energy efficiency projects.  

14/7/2023

 
How The Cost Of E-bikes From China Impacts Consumers And Sellers

The TRA has launched a survey, aimed at retailers and consumers, to understand the economic impact of tariffs paid on e-bikes imported from China.   The Trade Remedies Authority (TRA) has today launched a survey to understand any economic impact of the tariffs paid on e-bikes imported from China.  

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