UK set for five years of lost economic growth, warns think tank
The UK is set for five years of lost economic growth, according to research from think tank the National Institute for Economic and Social Research (NIESR). The NIESR said the series…
Business
Inflation falls to 6.8% in July
The UK’s annual inflation rate fell to 6.8% in July, down from 7.9% in June, according to the latest data from the Office of National Statistics (ONS). It is the…
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…
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…
CMA scheme will force retailers to publish live fuel prices
A new fuel finder scheme to enable drivers access to live fuel prices and revitalise competition in the retail road fuel market, according to the Competition and Markets Authority (CMA)….
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…
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