Small business owner with an hour to spare? Why not apply for a loan? January 5, 2017 Small business owners with an hour to spare can now use it to unlock some extra cash, thanks to a new service offered through Barclays' mobile banking app. The lender has been running a trial version of the service, which allows small business owners to apply for loans up to £25,000, since last November. But from today, [...]
Hammond highlights growing importance of non-EU trade September 12, 2016 Discussions between chancellor Philip Hammond and some of the UK’s biggest exporters focused yesterday on the growing importance of trade with non-EU countries. Hammond hosted representatives from Honda, GlaxoSmithKline, Airbus, and Scotch Whisky Association at Downing Street. UK exports have more than doubled over the last 17 years, with over half of total, making up [...]
Autumn Statement and Spending Review 2015: The verdicts on George Osborne’s proposals November 26, 2015 THE BUSINESS GROUP HEAD CAROLYN FAIRBAIRN, CONFEDERATION OF BRITISH INDUSTRY, DIRECTOR-GENERAL The apprenticeship levy will be a big extra payroll tax on employers and widening the net will hit Britain’s smaller firms. This was a good spending review for longer-term investment in the economy but there’s a sting in the tail in the size and [...]
Hammond hints Britain could lower corporate tax rate January 15, 2017 Britain will be forced to change its economic model if it does not have access to the European market after Brexit, chancellor Philip Hammond has said, responding to questioning on the UK becoming a tax haven in an interview with a German newspaper. A change to the UK's economic model would have to take place for [...]
Autumn Statement 2015: Play George Osborne’s interactive buzzword bingo game November 25, 2015 George Osborne is preparing for a "knock at the door" fiscal update in the space of just a year (that's number four) , and that means we get to play another round of buzzword bingo. The chancellor is really spoiling us. Be prepared for the "long-term economic plan" – again – but will he make a dig at [...]
Stamp duty abolished for first-time buyers on purchases of up to £300,000 November 22, 2017 The government has used the Autumn Budget to abolish stamp duty for first-time buyers on purchases of up to £300,000. First-time buyers will also receive a stamp duty holiday for the first £300,000 on purchases up to £500,000. Read more: Come again? Two-thirds of Nimbys are worried about rising house prices Launching the policy, the [...]
Letting agents expect rents to rise next year December 19, 2016 Eight in ten letting agents think rents will rise next year as a result of chancellor Philip Hammond's decision to ban letting agents' fees for tenants, according to the Association of Residential Letting Agents (ARLA). Hammond's announcement – which was a part of his Autumn Statement at the end of November – has angered both [...]
Autumn Statement 2015: Markets get spooked on political risks – London Report November 25, 2015 Woes in the travel and leisure sectors yesterday dragged down London’s blue-chip FTSE. The index closed down 28.26 points, or 0.5 per cent, at 6,277.23 points, extending the previous session’s losses. Russian President Vladimir Putin added to concerns after a Russian jet was shot down by Turkey on the Syrian border. The Russian leader described the [...]
Autumn Statement 2015: Cuts reduce growth – and could increase the deficit further November 25, 2015 Why do we need to make cuts? Every year in which public sector spending exceeds borrowing increases our level of debt. Therefore, we are told, the government must eliminate the public deficit – the public sector ought to spend less than it receives – in order to begin paying down our debt. Hence, the need [...]
Autumn Statement 2015: Here’s how much was cut from departmental budgets November 25, 2015 Chancellor George Osborne has unveiled the full extent of his cuts to departmental budgets, with some protected and some undergoing extensive cuts. Among other announcements, Osborne detailed how the police will suffer no cuts and while there will be £22bn in efficiency savings across the NHS, there will be £10bn a year increase in real terms [...]