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…
Business
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…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2023. The guidance states: ‘you can use the previous rates for up to one month from…
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…
UK inflation falls to 10.1% in March
UK inflation has dropped, but remains in double-digit levels, as the cost-of-living crisis eased slightly in March. The annual consumer prices index dropped to 10.1% in March, down from 10.4%…
PAC criticises government for billions lost to error and fraud
The Public Accounts Committee (PAC) has criticised the government for losing billions of taxpayers’ money to fraud and error in pandemic support. The Department for Business and Trade (DBT) is ‘effectively…
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