Almost a million Child Trust Funds still unclaimed
Almost a million young people have yet to access savings contained in Child Trust Funds (CTFs), according to a report by Parliament’s Public Accounts Committee (PAC). The PAC said over £1.7…
South Yorkshire named as first UK Investment Zone
South Yorkshire has been named as the UK’s first Investment Zone by Chancellor Jeremy Hunt. The status could bring £1.2 billion in funding and see up to 8,000 new jobs…
Tax down on pints but up on wines and spirits in Alcohol Duty overhaul
The largest overhaul of alcohol duty in 140 years sees drinks taxed by strength rather than category from 1 August. It also sees the introduction of Small Producer Relief, which aims to…
Autumn 2023 Newsletter
There was a glimmer of good news halfway through the year as the June inflation figure dipped below 8%. While the pace of rising interest rates may be slowing, the…
Industrial strategy required to ‘focus on innovation’, says IoD
The Institute of Directors (IoD) has urged the government to create an industrial strategy to help ‘define specific long-term priorities for the UK economy’. A survey carried out by the IoD revealed…
Post-Brexit trade plan must be replaced with ‘ambitious strategy’, says think tank
The Resolution Foundation think tank has called for the government to replace the initial post-Brexit trade plan with a ‘far more ambitious’ strategy to help protect Britain’s manufacturing firms and seek new markets…
Bank of England raises UK base interest rate to 5%
The Bank of England has raised UK interest rates to a 15-year high of 5% as it continues its battle against inflation. Despite concerns that mortgage-holders face a timebomb of higher…
UK inflation stays at 8.7%
The UK’s rate of inflation plateaued at 8.7% in May, data published by the Office for National Statistics (ONS) has shown. Inflation was expected to fall in May but remained at…
Energy suppliers urged to renegotiate fixed contracts for small businesses
The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs. Research carried out by the FSB revealed that many small…
UK rate of inflation fell sharply in April
The UK rate of inflation fell to 8.7% in April from 10.1% in March, according to the latest data from the Office of National Statistics (ONS). The fall has been…
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