Bank of England raises UK interest rates to 13-year high of 1.25%
The Bank of England (BoE) has raised UK interest rates to a 13-year high of 1.25% and is now predicting inflation will hit 11% this autumn, when energy bills are set to…
Business
NICs increase has immediate impact on businesses
Four out of five employers stated that they were immediately impacted by the increase in national insurance contributions (NICs), according to research by the British Chambers of Commerce (BCC). The…
Manufacturers call for support package
Manufacturing trade body Make UK is calling for an emergency, pre-recess package of business support measures. The call comes after a Make UK survey showed growth and orders slowing significantly with…
Number of firms in critical financial distress rises sharply
A growing number of UK businesses are at risk of going under as costs spiral and Covid loan repayments become due, according to a report from insolvency firm Begbies Traynor. Although…
New law to protect access to cash announced in Queen’s Speech
New laws to protect access to cash and help victims of financial scams were announced in the Queen’s Speech at the state opening of parliament on 10 May. The new Financial…
Inflation hits 40-year high of 9%
Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS). The rate shot up…
Chancellor announces windfall tax on energy firms
Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis. Mr Sunak said a ‘temporary, timely, and targeted’ 25%…
Government inaction on long COVID could cost billions
There are now more than a million workers missing from the workforce compared to pre-pandemic figures, according to a report published by the IPPR think tank. About 400,000 of these are…
UK government unveils energy strategy
Up to eight more nuclear reactors could be delivered to existing sites as part of the UK’s new energy strategy. The plan, which aims to boost UK energy independence and tackle rising…
Treasury announces it will regulate some forms of cryptocurrency
The Treasury has announced that it plans to recognise stablecoins as a valid form of payment as part of a wider government initiative to ‘make Britain a global hub for cryptoasset technology…
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