Decide the rules and then leave them alone for at least 10 years, the government is told October 20, 2016 The boss of a leading financial adviser has made a direct appeal to the government to "simplify and stabilise the UK savings system". Andy Bell, the chief executive of AJ Bell, wrote to both chancellor Philip Hammond and pensions minister Richard Harrington to urge them to set up a new independent pensions tax commission whose recommendations would be set [...]
Record levels of IT investment in 2017? You can bank on it, says report December 19, 2016 The banking sector will up its IT spend to an all-time high in 2017 as the gap between tech-savvy and Luddite lenders widens, according to a report released today. Embracing data and open banking are top priorities for banks the report by consultants Temenos and Capgemini revealed. The focus on technology comes a week after it was [...]
Philip Hammond’s self-employment tax hike marred a refreshingly mundane Budget March 9, 2017 It took just a couple of hours for the chancellor’s Budget to come under heavy fire. He set out changes to Class Four National Insurance contributions, increasing them from 9 per cent to 11 per cent over a couple of years. This breaks a Conservative manifesto pledge ruling out VAT, income tax and NI increases, his [...]
Business growth remains steady as high street has a rosy month, Confederation of British Industry (CBI) data shows December 4, 2016 British businesses enjoyed modest growth in the three months to November, and are expected to maintain the pace into 2017, according to a survey published today. Private sector growth remained steady in the last three months, research from the Confederation of British Industry (CBI) showed, while retailers and consumer-facing companies reported a rise in growth. “The [...]
The average rent in London has reached a record high December 30, 2016 The government may have spent the last few years doing everything in its power to reduce the number of people buying second homes – but that hasn't hurt the capital's rental prices, after new research suggested rents in London reached a record high in November. The Your Move rental index showed average rents in the capital [...]
A Lidl competition: Aldi becomes the highest-paying supermarket in the UK January 5, 2017 Aldi has given its employees a late Christmas present as it unveiled new pay rates this morning – and boasted that the new deal will make it the highest-paying employer in the supermarket sector. The supermarket is known for offering the cheapest groceries in the UK, but is now insisting it won't settle for a [...]
UK government deficit rises more than expected and public sector borrowing continues to grow December 21, 2016 The UK government’s debt and budget deficit both rose in November, as borrowing came in higher than expected. The deficit rose to £12.6bn, with borrowing to fund everyday government spending accounting for £9.9bn, according to data from the Office for National Statistics. The government now owes the private sector almost £1.66 trillion, an increase of [...]
SNP reaction to the Autumn Statement 2015: Chancellor George Osborne’s actions will hurt Scottish business November 26, 2015 As we start to pick over the detail of the Autumn Statement it would be easy for many to think the chancellor has pulled the proverbial rabbit out of the hat – although as one journalist put it yesterday, “his 'rabbit out of the hat' was to shoot the last rabbit". Today’s papers seem to hail [...]
It’s productivity, stupid: The chancellor must be bolder on the greatest threat to living standards March 7, 2017 Whenever a new Budget is in the offing, fiscal policy tends to take centre stage. But while an open and lively debate over the goals of fiscal policy in the coming year is to be welcomed, we should not forget about the economic problems that, lurking in the background, continue to afflict the country. In particular, [...]
Deals from energy providers are rising as Britain’s cheapest rate has gone up £100 in six months January 26, 2017 The cheapest energy deal on the market has risen £100 – 14 per cent – in just six months, new data suggests. An analysis of the market showed the cheapest deal in July 2016 was Iresa's Flex 1 tariff, costing £734 per year. Now, the best deal is Iresa's Flex 4 tariff, which costs £834 per year, found [...]