Pub industry warns Boris Johnson that lockdown measures put ‘hundreds and thousands of jobs’ at risk March 16, 2020 The UK pub industry has tonight written to Prime Minister Boris Johnson warning him that the government’s guidance that members of the public should avoid going to bars and pubs presents the sector with an “existential crisis”. In a letter from British Beer and Pub Association chief executive Emma McClarkin, the industry warned that “thousands [...]
Budget 2020: Government will raise living wage and lift floor for National Insurance March 11, 2020 The chancellor Rishi Sunak said today that the government will raise the national living wage to £10.50 by 2024 and will raise the minimum threshold for National Insurance. In his budget speech Sunak announced a goal of raising the national living wage to two thirds of median earnings by 2024 – which would be equivalent [...]
If the chancellor stands up for small firms, he’ll be standing up for society as a whole March 6, 2020 Ever wondered how much small businesses hand over to the Treasury each year? Try £145bn in corporation tax and VAT alone. Factor in business rates, national insurance contributions, fuel duty, clean air charges and the insurance premium tax, and this big figure becomes, well, astronomical. We small business owners are resilient. We have continued to [...]
Tourism body calls on government to rethink immigration policy February 25, 2020 A trade body representing the UK’s travel and tourism industry has called on the government to rethink its new immigration policy or risk “undermining the business model of many UK companies”. ABTA, the Travel Association, has today released a paper demonstrating the importance of non-UK workers to the UK travel industry which outlines the challenges [...]
UK retail sales jump 1.6 per cent in January after Tory election victory February 20, 2020 UK retail sales excluding fuel jumped the most in almost two years in January, official figures showed today. Retail sales rose excluding fuel 1.6 per cent compared to the month before as the new year got underway, the Office for National Statistics (ONS) said. And retail volumes rose 0.9 per cent to recover from falls [...]
The ‘graduate premium’ is little more than a myth — invest in further education instead February 5, 2020 Universities and their students are seldom out of the news. Ever since Tony Blair pledged to send 50 per cent of 18–21 year olds to university, they have been a persistent topic in political economy. University towns now notoriously favour Labour at the ballot box, often an island of red in a surrounding sea of [...]
Aldi announces pay rise and recruitment drive January 21, 2020 Aldi has announced it will increase the hourly rate paid to in-store staff members and hire more than 3,800 employees this year as it pushes ahead with its UK expansion plans. The budget supermarket said all employees will earn a minimum hourly rate of £9.40, a 30p per hour increase from the previous minimum wage [...]
What do the financial markets hold in store for 2020? January 7, 2020 After the festive break, everyone in the City is slowly settling back into work. The opening week of 2020 has been hectic already, with oil and gold prices rising and stocks falling in reaction to tension in the Middle East. But what else are the financial experts and asset managers keeping an eye on for [...]
UK hotel insolvencies hit five-year high in 2019 January 6, 2020 UK hotel insolvencies hit their highest levels in five years in 2019, rising 60 per cent year on year to hit 144. According to accountants UHY Hacker Young, the slowing UK economy is to blame for the rise, as businesses have been forced to cut back on conferences and corporate away days, a key source [...]
National living wage set to rise over six per cent in 2020 December 31, 2019 Almost three million workers are set to receive a 6.2 per cent pay rise from April, after the government announced plans to raise the national living wage. The raise, which the government says will be “the biggest cash increase ever”, comes as prime minister Boris Johnson seeks yo shore up support from the working class [...]