The total value of new office schemes granted planning permission doubled on the previous year in the first three months of 2023, construction sector monitor Glenigan has revealed. Rising numbers of approved schemes, totalling £3.5 billion in the first quarter of 2023, has also seen construction … [Read more...]
News for: General Business News
Inflation falls to 8.7%
Inflation fell to 8.7% in April, according to the latest Consumer Price Index figures published today (24th May) by the Office of National Statistics (ONS). The fall, down from 10.1% in March sees the measure of price increases drop back below double figures for the first time since September's … [Read more...]
Landlords see opportunities despite tough economic climate, finds Handelsbanken survey
Despite the economic uncertainty, large portfolio professional landlords are in a confident mood, according to the findings of an independent survey commissioned by Handelsbanken. The Handelsbanken Professional Landlords Survey – based on nationwide research among large UK investors with an … [Read more...]
Government continues sell off of NatWest shares
The UK government has sold a further £1.26 billion of shares in the NatWest banking group, reducing its stake to 38.6%. NatWest, which includes both the NatWest and Royal Bank of Scotland (RBS) high street banks, was brought largely under government control to protect the deposits of UK business … [Read more...]
HMRC urges workers to claim tax refunds of work-related expenses
HMRC is reminding employed workers to make sure they claim a tax refund for any work-related expenses through the government website. It is estimated that 70% of claimants in the 2021-22 tax year missed out on getting the full amount owed due to using an agent to make the claim, rather than … [Read more...]
HMRC late payments interest rates revised following base rate rise
Following the Bank of England’s decision to increase its base interest rate to 4.5%, HMRC has confirmed that interest on late payments will also increase. HMRC interest rates are linked to the Bank of England base rate, and set at the base rate plus 2.5%. Repayment interest is set at the higher … [Read more...]
Bank of England base rate rises by a further 0.25 percentage points
The Bank of England's top economists have agreed a further 0.25 percentage point increase in its base rate of interest, which now stands at 4.5%. The bank's Monetary Policy Committee (MPC) have followed in the footsteps of the US Federal Reserve and the Eurozone's European Central Bank in raising … [Read more...]
Longer lorries to offer £1.4 billion economic boost
Longer lorries are to be permitted on British roads as part of efforts to cut the environmental impact of road emissions and support supply chains, in a move estimated to boost the economy by £1.4 billion. Legislation is being laid today (10th May) to safely roll out lorry trailers up to 2.05 … [Read more...]
New car market continued to grow in April
New car registrations in the UK recorded their ninth consecutive month of growth in April according to the latest data from the Society of Motor Manufacturers and Traders (SMMT). The SMMT found registrations were up 11.6% to reach 132,990 registrations, and reached their highest level since April … [Read more...]
CMA to review the impact of the growing use of AI
The Competition and Markets Authority (CMA) is to review how the development and deployment of AI by businesses could impact on competition and consumer protections. Foundation models, which include large language models and generative artificial intelligence (AI), that have emerged over the past … [Read more...]
Digital Markets, Competition and Consumers Bill introduced to crack down on unfair business practices online
The government has today (25th April) set out new legislation to strengthen consumer protections when using and purchasing goods and services online. The Digital Markets, Competition and Consumers (DMCC) Bill will enhance the role of the UK's Competition and Markets Authority to crack down on … [Read more...]
UK workplaces letting down LGBT+ women, concludes recruiter survey
LGBT+ women are the most unsatisfied group when discussing pay, progression and the workplace in general, according to the findings of a survey by recruitment firm, Robert Walters. In a survey of 6,000 professionals, the recruiter found LGBT+ women are the most likely cohort to be living … [Read more...]
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