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Bank of England continues to hold interest rates at 5.25%

Leading economists on the Monetary Policy Committee (MPC) of the Bank of England have once again chosen to hold interest rates at their current 16-year high of 5.25%. Committee members voted 7-2 in favour of keeping rates at 5.25% for at least a further six weeks; the two members voting against … [Read more...]

Inflation slowed to 2% target level in May

The headline rate of inflation slowed to 2% in May, according to latest Consumer Price Index data (CPI) from the Office of National Statistics (ONS). Inflation fell 0.3 percentage points from April's figure of 2.3%, bringing the rate of inflation back down to the Bank of England's target rate and … [Read more...]

UK GDP grew 0.7% in three months to April 2024

The UK economy has experienced quarterly growth of 0.7% in the three months to April 2024, according to the latest GDP data from the Office of National Statistics (ONS). The services sector, the largest part of the economy, was the main contributor to growth, up 0.9% over the three months to … [Read more...]

Fleets and businesses behind May growth in car sales

Purchases of new vehicles by fleets and businesses has driven up new car registrations in May, according to figures released by the Society of Motor Manufacturers and Traders (SMMT). The 1.7% year-on-year growth in registrations in May is the 22nd consecutive monthly increase in car sales, … [Read more...]

King Charles III banknotes enter circulation

The first new polymer banknotes featuring the portrait of King Charles III have begun to enter circulation from 5th June. The King’s image will appear on the front of the £5, £10, £20, and £50 notes, as well as in cameo in the see-through security window. No other changes to the designs or … [Read more...]

Tighter regulations for digital markets become law

The Digital Markets, Competition and Consumers Act has become law after gaining Royal Assent, strengthening consumer protections online. The Act brings in new rules about how businesses communicate pricing in online transactions, as well as regulating subscription contracts for consumers. New … [Read more...]

Prime Minister calls July General Election

Voters in Stockport are being asked to go to the polls once again as Rishi Sunak calls a General Election to take place on 4th July. The announcement ends recent speculation as to when a General Election, due by January 2025, would take place, with the Prime Minister having previously stated one … [Read more...]

Inflation falls further to 2.3%

Inflation has fallen in April to 2.3%, its lowest rate in nearly three years and close to the Bank of England's 2% target, latest data from the Office of National Statistics (ONS) has shown. The ONS Consumer Price Index (CPI) has revealed its headline measure of inflation has fallen to 2.3% in … [Read more...]