GDP
This coverage examines GDP trends and their implications for the UK petcare industry, providing analysis relevant to retailers, wholesalers, distributors, and supply chain professionals. Pet Gazette reports on national and regional GDP data, economic forecasts, and market conditions, alongside insights into how economic growth or contraction influences consumer spending, business investment, and trade performance. Our coverage helps pet trade professionals assess market health and adapt strategies in line with wider economic trends.
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Nov- 2025 -26 NovemberEconomy
BUDGET: Income tax bands frozen, minimum wage to increase, NI-exempt pension threshold scrapped
Income tax and NI thresholds will be frozen while the minimum wage will rise by 50p from April 2026, the chancellor Rachel Reeves said in her Autumn Budget statement today. Reeves announced a series of tax changes in other areas, including salary-sacrificed NI contributions on pensions, as part of measures…
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Mar- 2025 -26 MarchEconomy
Chancellor resists calls for business relief in Spring Statement
Chancellor Rachel Reeves has resisted calls from businesses for relief ahead of the upcoming tax changes this April, as part of her Spring Statement today (26 March). UK businesses had been hopeful the chancellor would raise the relief rate for retail, hospitality, and leisure after cutting it to 40% in…
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20 MarchEconomy
BoE holds interest rates at 4.5%
The Bank of England (BoE) has voted to hold interest rates at 4.5%, having cut the rate last month to its lowest level since June 2023. At its meeting ending on 19 March, the bankโs monetary policy committee (MPC) voted by a majority of 8โ1 to maintain the rate at…
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Feb- 2025 -6 FebruaryEconomy
BoE cuts interest rates to 4.5%
The Bank of England (BoE) has voted to cut interest rates from 4.75% to 4.5%, the lowest level since June 2023, but warned that GDP growth has been โweaker than expectedโ. At its meeting this week, the bankโs monetary policy committee voted by a majority of 7โ2 to reduce the…
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Dec- 2024 -19 DecemberEconomy
BoE holds interest rates at 4.75%
The Bank of England (BoE) has voted to hold interest rates at 4.75%, following a recent hike in both inflation and wage growth. At its meeting this week, the bankโs monetary policy committee voted by a majority of 6โ3 to maintain the current rate. Three members voted to reduce interest…
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Nov- 2024 -15 NovemberEconomy
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…
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Sep- 2024 -19 SeptemberEconomy
BoE holds interest rates at 5%
The Bank of England (BoE) has decided to hold interest rates at 5% this month, having lowered them for the first time in four years in August. The bank voted by a majority of 8-1 to keep the rate the same in a bid to help โsustain growth and employmentโ.…
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13 SeptemberRetailers
Retail industry is overtaxed, says BRC
The British Retail Consortium (BRC) has claimed that the retail industry is overtaxed compared with other sectors of the economy after new research found retail pays 7.4% of all business taxes (ยฃ33bn), a share 1.5 times greater than its share of the overall economy (5% GDP). The BRC said this…
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Aug- 2024 -1 AugustEconomy
BoE cuts interest rates for first time in 4 years
The Bank of England (BoE) has cut interest rates for the first time in four years, with the rate falling to 5%. The bank voted by a majority of 5โ4 to reduce the rate by 0.25 percentage points to 5%, marking the first fall in inflation since March 2020, where…
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Jun- 2024 -20 JuneEconomy
BoE holds interest rates for 7th consecutive month
Interest rates have remained unchanged at 5.25% for the seventh consecutive month, the Bank of England has announced. The bankโs MPC voted by a majority of 7โ2 to maintain the rate, despite inflation hitting its target and falling to 2% in May. UK inflation hit its target for the first…
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