The manufacturing sector has seen business optimism fall sharply, citing rising costs and depressed growth according to the latest Quarterly Industrial Trends Survey from the CBI. The quarterly survey, sponsored by Accenture, found that business optimism fell in April by 9%, the sharpest decline … [Read more...]
News for: General Business News
Pandemic drove UK advertising spending to record high
Advertising spending in the UK reached a record high of £31.9 billion in 2021 as businesses sought to reach customers online following the coronavirus pandemic. The latest figures published in the Advertising Association's UK Advertising’s Adspend Review: The Pandemic Effect report showed the … [Read more...]
New authority announced to recover government money lost to fraud during pandemic
Chancellor of the Exchequer, Rishi Sunak, has announced the creation of a new 'fraud squad' to recover money lost to fraudulent Covid support claims and other criminal targeting public funds. The Public Sector Fraud Authority is expected to launch in July, bringing together data analytics experts … [Read more...]
Research finds Covid-19 has not fundamentally changed the UK labour market
A new analysis of the post-pandemic labour market by the Institute for Fiscal Studies (IFS) has found that the overall mix of vacancies available remains largely unchanged by Covid-19. The IFS found that while there are around 20% more job vacancies than two years ago, there has been no more … [Read more...]
New trade measures announced in support of Ukraine
The UK government has cut tariffs on all goods from Ukraine as part of its economic support of the country's defence against Russian military aggression. The UK has announced the end to all tariffs covered by the existing UK-Ukraine trade deal, in addition to further sanctions on Russia. All … [Read more...]
Reforms planned to clamp down on fake online reviews
Planned reforms to protect people when shopping online have been announced that will include banning fake reviews and making it easier for customers to end subscription services.? Under new roles proposed, it will become illegal to commission or offer fake reviews, while review sites hosting … [Read more...]
New plans to tackle empty high street shops expected in upcoming Queen’s Speech
New plans to tackle empty shops on the high street going unused for over six months are expected to be announced in an upcoming Queen's Speech, according to the Daily Mail newspaper. A government source told the paper that the upcoming Levelling Up and Regeneration Bill will provide the … [Read more...]
Rail tickets go on half price sale for first time
Over a million rail tickets will sold at half price for journeys between 25th April to 27th May in a first-of-its-kind sale, organised by the government and rail operators. The sale, which launches today (19th April), will see up to half price rates available for off-peak tickets nationwide when … [Read more...]
Retail sales and footfall remain low as consumer confidence drops
Year-on-year retail sales fell 0.4% in March with consumer confidence taking its sharpest hit since 2008, according to the latest data from the British Retail Consortium (BRC) and Big Four accountants, KPMG. Despite total sales rising by 3.1% on 2021 figures, like-for-like sales fell compared to … [Read more...]
Major investment in energy generation announced in bid to reduce reliance on imports
The UK government has announced a new British Energy Security Strategy to reduce reliance on imported energy, and increase investment in renewable and low-emission power. The strategy will see 95% of energy generated in the UK come from low carbon sources by 2030, accelerating new wind, solar, … [Read more...]
Hallidays share April financial news including latest economic forecasts
Stockport accountancy firm Hallidays share their round-up of the financial stories this April, including the latest economic forecasts in the wake of interest rate rises and Rishi Sunak's Spring Statement. Chancellor cuts fuel duty in Spring StatementChancellor Rishi Sunak announced a 5p per … [Read more...]
National Minimum and Living Wage rates go up from today
Around 2.5 million people in the UK will receive a pay rise from today (1st April) in line with increased National Minimum and Living Wage rates. Apprenticeship pay rates will also rise. The uplift in wages will see the National Living Wage (for workers aged 23 and above) rise to £9.50 per hour, … [Read more...]
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