Business Investment

Nov- 2024 -

15 November

UK economy stagnates in three months to September

UK gross domestic product (GDP) is estimated to have stagnated during the third quarter of the year as uncertainty ahead of the budget affected decision making, according to the latest figures from the Office For National Statistics. The ONS found that UK GDP increased by 0.1% in Quarter 3 (July…

Mar- 2024 -

6 March

Economy

Chancellor cuts NI by a further 2p as part of Spring Budget

Chancellor Jeremy Hunt has announced a further 2p cut to National Insurance falling from 10% to 8% from 6 April, as part of his Spring Budget for “long-term growth”. The reduction in National Insurance is expected to save the average worker £450 a year, or £350 for those who are…

Nov- 2023 -

22 November

Business

Chancellor cuts National Insurance to 10% alongside NLW rise

Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…

May- 2022 -

18 May

Economy

Inflation hits 40-year high

UK inflation has hit its highest level in 40 years during the month of April, driven by the rising cost of energy bills. The figure, according to the latest figures from the Office of National Statistics (ONS), was up from 7% in March. The ONS said that around 75% of…

Mar- 2022 -

24 March

Industry News

Retail responds to ‘underwhelming’ Spring Statement

Both Bira and CBI have expressed disappointment in the chancellor’s Spring Statement, with Bira having declared it is “underwhelmed with the offerings for independent businesses”. In his speech yesterday, Rishi Sunak outlined a series of measures to help combat the rising cost of living in his latest spring statement, including…

Oct- 2021 -

14 October

Current Affairs

Over 40 employee groups pen letter urging Sunak to cut business rates

The CBI, along with 41 trade associations spanning the UK economy, have issued a joint statement urging the chancellor Rishi Sunak to reform the business rates system and “unleash a wave of business investment across key government priorities, including net zero and levelling up”. The joint statement from businesses is…

Aug- 2021 -

12 August

Economy

UK economy surges 4.8% in June

The UK economy grew by 4.8% in June as Covid-19 restrictions surrounding retail and leisure were eased across the UK, according to figures published by the Office of National Statistics (ONS). Gross domestic product (GDP) is estimated to have grown for a fifth consecutive month in June 2021, by 1.0%,…

Apr- 2020 -

28 April

Coronavirus

UK economy not expected to recover until 2023, study suggests

The UK’s economy is not expected to return to normal until 2023 due to the coronavirus pandemic, according to a new report issued by economic forecasting group EY Item Club. The group has warned that it is likely to take three years for the UK economy to return to the…

Feb- 2020 -

25 February

Business Bites

Chlorinated chicken ain’t the way

The European Union will insist that the UK retains the current ban on chlorinated chicken as part of any free trade agreement that might be struck by the end of this year. It taps into one of the most symbolic arguments made during the last three years by those who…

Jan- 2020 -

6 January

Business Bites

As long as WW3 does not kick off, 2020 looks set to be a better year

All eyes on are on the rising tensions between the United States and Iran after president Trump ordered the assassination of Iran’s most powerful general, Qassem Suleimani. The oil price has risen, stocks have fallen this morning, and the threat of war almost always depresses global trade flows. But let’s bask in…