The National Living Wage increase fell short of expectations, moving up only 30p to £7.50 in April 2017 November 23, 2016 The National Living Wage fell short of forecasted expectations. The rate will rise 30p to £7.50 in April 2017, but experts predicted it would rise to £7.60. Chancellor Philip Hammond announced the four per cent increase to wages for over-25s in his Autumn Statement Wednesday. This equals an increase of £500 a year to over a million full-time workers, Hammond said. [...]
Autumn Statement 2016: For all Hammond’s plans the OBR fears UK economic productivity could be weaker after Brexit November 23, 2016 In the Autumn Statement today chancellor Philip Hammond said no other major economy has such a gap between the productivity of its capital and its other cities. He also said the UK lags the US and Germany by a whopping 30 points in productivity. According to Hammond raising productivity is essential for the "high wage, high [...]
Here are the winners and losers from today’s Autumn Statement November 23, 2016 It's been a rough day for the UK's economic forecasts, but the revelations from chancellor Philip Hammond's first Autumn Statement weren't all bad. Here are some of the biggest winners and losers from the speech: Winners Companies will be cheering after Hammond confirmed that he will be cutting corporation tax to 17 per cent by 2020. [...]
Autumn Statement TL;DR? Here’s our at-a-glance guide November 23, 2016 Chancellor Philip Hammond spoke for around an hour while delivering today's Autumn Statement. If you don't have time for that, here's our at-a-glance overview of the announcements you need to know: Economics, public spending and politics The Office for Budget Responsibility (OBR) forecast for growth increased to 2.1 per cent, up from two per cent, for 2016, but [...]
Autumn Statement 2016: Here’s how analysts have reacted to Philip Hammond’s speech November 23, 2016 Here's how analysts have reacted to chancellor Philip Hammond's first – and last – Autumn Statement. National Living Wage hike Guy Stallard, director at KPMG, said: Today’s announcement will see a significant number of workers aged 25 and above get a pay rise of 30p an hour to £7.50 from next April. This may seem [...]
What to expect when you’re expecting the Autumn Statement – here’s what we know so far November 23, 2016 Chancellor Philip Hammond will deliver his first Autumn Statement today – and unlike during the Osborne era, the Treasury has already given a hint of what will be in the speech: Housing Letting agents' fees are in the firing line: Hammond is expected to ban them in an attempt to stop households in private rental [...]
Chancellor Philip Hammond to scrap letting agent fees in today’s Autumn Statement November 23, 2016 Chancellor Philip Hammond will today deliver a package of reforms aimed at raising living standards, including the latest increases for the National Living Wage. But it's not such good news for British landlords, who will suffer a blow with letting agent fees in the firing line. Hammond is expected to ban them, in what the government [...]
From bunnies to Brexit – the government’s fiscal events are about to get a lot more serious November 23, 2016 Help to Buy, the National Living Wage, the New Isa, the Lifetime Isa, a tax on fizzy drinks – the list of George Osborne’s fiscal innovations was, until his departure from Downing Street, seemingly endless. During his time as chancellor, Osborne was especially keen to pull at least one rabbit out of his metaphorical hat [...]
Mitchells & Butlers reports a drop in annual profits citing cost pressures and competition November 22, 2016 Pub and restaurant operator Mitchells & Butlers announced a drop in like-for-like sales as annual profits fell by more than a quarter for the year ended 24 September. The figures Like-for-like sales were down on the whole by 0.8 per cent, but the company is progressing toward growth with a rise of 0.5 per cent the last eight weeks' sales. Like-for-like food volumes [...]
Ending discrimination against families in the tax and benefits system would mark chancellor Philip Hammond as a true radical November 21, 2016 Every now and again we have a radical government that changes the way things are done. Lots of governments try to give the impression of being radical by implementing swathes of new legislation. But really radical governments that change the course of history are rare. In the post-war period, we have only had the 1945 [...]