Network Rail has announced the start of a £45.4 billion five-year rail improvement plan, aimed at improving reliability of the network and ensuring resilience against climate change and more frequent extreme weather. Through to 2029, Network Rail has committed to investing around £2.8 billion in … [Read more...]
News for: General Business News
Women’s pension pots worth half of men’s, finds Handelsbanken
Women significantly lag men in terms of their pensions savings, new research conducted for Handelsbanken Wealth & Asset Management has found. Among women who have a pension, their savings are typically much smaller than their male counterparts’, according to the firm’s latest report, Gender … [Read more...]
Basic tech skills gaps restricting productivity of UK SMEs, finds Sharp
A lack of basic tech skills is having a negative impact on productivity in nearly four in ten firms according to UK research from Sharp. The insights from over 500 UK small and medium sized enterprises (SMEs) see the ability to use everyday tools effectively, such as the Microsoft 365 suite of … [Read more...]
Increase to VAT threshold takes effect
An uplifted VAT threshold of £90,000 has taken effect from 1st April 2024 that is expected to lift 28,000 small businesses out of paying VAT. The £5,000 increase in the threshold was announced in the Spring Budget and puts the UK's VAT threshold at the joint highest level of any OECD … [Read more...]
Low Pay Commission recommends National Living Wage for over-18s
The Low Pay Commission (LPC) has advised the government to take steps towards uplifting minimum pay for those aged 18-20 to bring it in line with the National Living Wage. In its report published on 27th March, the LPC has recommended considering the case for reducing the NLW age of eligibility, … [Read more...]
HMRC halts plans to cut back helpline services
Changes to HM Revenue and Customs’ (HMRC) helpline services are being halted in response to public feedback to its plans, and to trials during 2023. Changes to helpline services aimed at encouraging people to go online first before contacting HMRC via phone or webchat were trialled over the last … [Read more...]
Latest fall sees inflation drop to lowest level in nearly two and a half years
The Office of National Statistics (ONS) has reported that February 2024 saw inflation fall to its lowest since September 2021, with its headline Consumer Price Index (CPI) now at 3.4%. The fall, down 0.6 percentage points on January's figure, has helped largely by a slowdown in food and drink … [Read more...]
Prime Minister announces reforms to boost apprenticeships and support small businesses
Prime Minister Rishi Sunak is to announce a number of reforms to support apprenticeships and small businesses in his speech addressing the Business Connect conference. Among the expected announcements he is set to make in Warwickshire today (18th March) include funding to support more … [Read more...]
John Lewis Partnership announces return to profit
Employee-owned retail group, John Lewis Partnership, has announced a return to profit for the 2023/24 financial year (ended 27th January 2024) in its unaudited annual results. The group, which includes John Lewis Cheadle in Stockport, as well as the Waitrose supermarket chain, has revealed a £120 … [Read more...]
Handelsbanken reveals scale of gender wealth gap in new report
Women in the UK are considerably worse off than their male counterparts, according to new research into the gender wealth gap by Handelsbanken Wealth & Asset Management. Handelsbanken Wealth & Asset Management’s report, ‘Gender and generation: unravelling the wealth gap’, has been … [Read more...]
Chancellor announces range of tax changes in 2024 Budget
Chancellor of the Exchequer, Jeremy Hunt, presented his 2024 Budget to the House of Commons on Wednesday 6th March. Addressing the fellow MPs, the Chancellor outlined improvements made in the economy since taking office in 2022, including a slowing in the rate of inflation from 11% to 4%, but … [Read more...]
Australian pension fund plans further £8 billion investment in UK by 2030
Australian Super, the country's largest pension fund, is expected to invest an additional £8 billion and take its total investment in the UK to £18 billion by 2030. AustralianSuper currently has around £8 billion already invested in the UK, and holds a further £2.5 billion in UK-listed equities, … [Read more...]
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