Business leaders from across the North-west and the rest of the UK have shared their reactions to yesterday's Autumn Statement from recently-appointed Chancellor, Jeremy Hunt. In his first Autumn Statement as Chancellor, Jeremy Hunt set out a number of major tax increases and spending cuts across … [Read more...]
News for: General Business News
Inflation up to 40 year high after October energy price rise
The Office of National Statistics (ONS) has published its October Consumer Price Index (CPI), revealing year-on-year inflation has reached 11.1%, its highest level since 1981. Increases to household electricity and gas bills was the main contributor to rising inflation in October, following the … [Read more...]
Bank of England raises interest rates to 3%
The Bank of England Monetary Policy Committee (MPC) has agreed a 0.75 point rise in interest rates, with the base rate now reaching 3%. The uplift is the eighth consecutive interest rate rise and is the single biggest increase in the Bank of England base rate since 1989. The Bank's economists … [Read more...]
CMA updates guidance for businesses advertising on social media
The Competition and Markets Authority (CMA) has published new guidance to make it easier for consumers to identify paid advertising and endorsements on social media. Working alongside the Advertising Standards Authority (ASA), Ofcom, social media companies and content creators, the CMA has … [Read more...]
Construction output not expected to return to growth until 2024
The construction industry is expected to struggle in the face of challenging macroeconomic conditions through to 2024, according to Glenigan's UK Construction Industry Forecast 2023-2024. The industry monitor is predicting construction output will decline by -2% during 2022 and 2023, before a … [Read more...]
Self assessment taxpayers reminded to declare any Covid-19 payments on returns
HMRC is reminding self-assessment taxpayers that they must declare any Covid-19 payments on their 2021-22 tax returns. More than 2.9 million people claimed at least one Self-Employment Income Support Scheme (SEISS) payment up to 5 April 2022. These grants are taxable and should be declared on tax … [Read more...]
£59 billion in assets sitting idle in UK businesses, finds new research
£59 billion could be sitting idle in UK businesses that are holding on to working assets and equipment they no longer need, according to new research commissioned by Ramco. In a survey, conducted by Censuswide for the circular economy specialists, two thirds of respondents representing around 3.7 … [Read more...]
Rishi Sunak appoints new Cabinet
Following his appointment as Prime Minister and Leader of the Conservative Party, Rishi Sunak has begun appointing his new Cabinet and other Ministers. Sunak's appointments see a number of his Cabinet colleagues during Boris Johnson's premiership return to the top table, while figures from the … [Read more...]
Rishi Sunak becomes new Prime Minister
Rishi Sunak has become Prime Minister following Liz Truss' resignation last week and a brief meeting with King Charles III this morning (25th October). Sunak, who served as Chancellor of the Exchequer throughout the Covid-19 pandemic before stepping down in the summer, was the only candidate left … [Read more...]
Construction sector shows modest pipeline recovery despite gloomy outlook
A modest rise in pipeline activity hints that recovery is on the horizon for the construction sector, finds industry insight experts, Glenigan. In the October 2022 edition of their Construction Review, Glenigan found high materials and energy costs, economic and political chaos and ratcheting … [Read more...]
There are 100 days left to complete Self Assessment tax returns
With 100 days to go until the deadline for online returns, HM Revenue and Customs (HMRC) is reminding Self Assessment customers to complete their tax return. Self Assessment customers have until 31 January 2023 to submit their online return for the 2021 to 2022 tax year. Despite this, 66,000 … [Read more...]
Liz Truss resigns as Prime Minister with replacement to be announced by 28th October
Prime Minister Liz Truss has resigned from the post, with the Conservative Party expected to announce her replacement in an accelerated process to conclude by 28th October at the latest. Liz Truss made the announcement at 1.30pm on 20th October outside 10 Downing Street, where she announced her … [Read more...]
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