The costs of running a business in London are starting to outweigh the benefits February 28, 2017 The late, great Robin Williams once said: “Spring is nature’s way of saying, ‘Let’s party’.” When the chancellor stands up to deliver the last ever Spring Budget next week, however, small businesses in London are likely to be putting party plans on hold unless Philip Hammond can pull the miraculous business rates “rabbit out of the [...]
One in five small businesses could close or sell up after business rates hike February 27, 2017 One in five small businesses could close down or sell their business after changes to business rates shoot up in April. Many small businesses are preparing to reduce staff costs to offset the rate rises, according to a new survey from the Federation of Small Businesses (FSB). More than half of those surveyed (54 per cent) expect [...]
The UK government’s deficit reaches lowest year-to-date since financial crisis but misses expectations February 21, 2017 Government borrowing recorded the biggest January surplus since 2000 and its lowest year-to-date reading since the financial crisis ahead of chancellor Philip Hammond’s first Budget on 8 March, despite a lower-than-expected monthly surplus. With tax receipts in January traditionally far higher than every other month as self-assessment returns come in, the January surplus of £9.4bn [...]
Improved fiscal outlook for the chancellor as he prepares the Spring Budget February 20, 2017 The Office for Budget Responsibility (OBR) is expected to provide some “fiscal cheer” for the chancellor, with a forecast showing greater growth for the economy and lower borrowing costs. According to the Ernst & Young ITEM Club, forecasted GDP figures for 2017 are expected to be revised upwards, from 1.4 per cent to 1.6 or 1.7 [...]
Industry groups call on chancellor Philip Hammond to cut businesses some slack in the Spring Budget next month February 6, 2017 Businesses large and small are calling on chancellor Philip Hammond to ease the mounting burden on firms in next month's Budget. Business rates, the apprenticeship levy, the national living wage and pensions auto-enrolment are some of the rising costs highlighted by two influential business groups today. In its submission to the Treasury ahead of the Budget [...]
Government should cut business rates if there is a Brexit slowdown says CBI February 6, 2017 The government should be prepared to cut business rates in the event of a Brexit slowdown, says an influential business group, while expressing concerns the apprenticeship levy may not be ready in time. The Confederation of British Industries (CBI) expects growth to slow in 2017 to 1.5 per cent, and wants the government to be [...]
UK firms could face £2,600 in additional employment costs, warns Federation of Small Businesses February 6, 2017 UK small businesses could face £2,600 in additional employment costs, the Federation of Small Businesses has warned. The business lobby group called on UK chancellor Philip Hammond to use the upcoming budget to help small businesses tackle soaring employment costs. In its submission to Hammond ahead of the 8 March budget, the FSB has urged action [...]
HS2 announces CH2M’s European boss Mark Thurston as new chief executive January 26, 2017 HS2 has appointed CH2M's Mark Thurston as its new chief executive. His appointment comes after a five-month hunt, which considered 20 potential candidates working on projects across the globe. Thurston is currently the regional managing director overseeing CH2M's European operations and will take up his new role in the spring (after handing over leadership duties [...]
Cutting the beer duty in the March budget will inspire investment and protect jobs during uncertain times January 11, 2017 The British Beer and Pub Association (BBPA) has called on the government to cut the beer duty to encourage investment, protect jobs and improve confidence in the sector. Beer duty was frozen in the last Autumn Statement, but the BBPA said the industry is struggling: the UK's beer duty is higher than those in other European countries. Now, the BBPA has released [...]
Tui in talks with Swiss firm Kuoni and American companies KKR and Warburg Pincus over Travelopia sale January 8, 2017 Tour operator Tui is in talks with Swiss rival Kuoni and American buyout giants KKR and Warburg Pincus over the sale of a range of travel websites. In September of last year, Europe's biggest tour operator confirmed it had asked Citigroup to find a buyer for specialist holiday arm Travelopia in a deal potentially worth €500-600m (£428m-£514m). [...]