Rate cut brings ‘measure of relief’ to business
Businesses will get a ‘measure of relief’ after interest rates were cut by the Bank of England, says the British Chambers of Commerce (BCC). The Bank cut the base rate…
Tailored tax reliefs boost alcohol sector
The government has introduced a package of support that it says will help the alcohol sector to grow. From 1 February, draught relief has increased to knock 1p off duty…
IMF upgrades UK’s economic outlook
The International Monetary Fund (IMF) has upgraded its growth forecast for the UK economy this year. The global institution upgraded its prediction for UK growth to 1.6% for this year…
Government launches Industrial Strategy Advisory Council
The UK government has launched a new Industrial Strategy Advisory Council which brings together business leaders from across the UK to offer advice. The government says the Industrial Strategy will…
Cash usage on the rise for second successive year
Cash use in the shops rose for a second year in a row in 2023 after a decade of falls, according to the British Retail Consortium (BRC). Notes and coins…
Industrial Strategy must benefit all parts of the UK
The UK’s Industrial Strategy must benefit all parts of the country, according to the British Chambers of Commerce (BCC). The government says the Industrial Strategy will be published in Spring…
Business frustrated at halt in rollout of digital trade platform
Import and export businesses are frustrated by the government’s decision to pause work on the digital trade platform, according to the Institute of Directors (IoD). When fully operational, the Single…
Autumn Budget – the business reaction
Business groups have reacted to Chancellor Rachel Reeves’ Autumn Budget speech. The Confederation of British Industry (CBI) said that the Chancellor ‘had difficult choices to make to deliver stability for the…
Chancellor promises to drive growth and raises £40 billion in taxes
Chancellor Rachel Reeves pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’ in the Autumn Budget. The Budget, which was Labour’s first in over 14 years and the first ever delivered…
Government cracks down on late payments
The government has announced a crackdown on late payments to small businesses and the self-employed. Late payments cost SMEs £22,000 a year on average, according to Smart Data Foundry, while…
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