The cost of living soared 5.1% in the 12 months leading up to November 2021, up from 4.2% in October, and the highest hike since September 2011. Surging costs of transport and energy were mostly responsible for the rise, which far surpassed forecasts of a 4.7% jump, according to the Office for National Statistics (ONS).…
The Night Time Industries Association, the main trade body representing businesses in the UK’s Night Time Economy, has called on the Government to urgently provide businesses with financial support through… The post The crippled hospitality sector calls for a ‘freeze of VAT at 12.5%’ and ‘to reinstate furlough for first quarter of 2022’ appeared first…
The Mayor of London is today calling on the Government to do more to support businesses who are seeing a significant drop in takings due to fears around the new… The post Sadiq Khan calls on government to support businesses as new variant hits London’s economy appeared first on London Business News | Londonlovesbusiness.com.
The U.K. needs to urgently design its strategic approach and take concrete steps to develop world-beating productivity to drive economic growth and raise living standards, according to new research by… The post UK lacks strategic approach to solve its ‘productivity puzzle’ according to new CIMA research appeared first on London Business News | Londonlovesbusiness.com.
Total tax revenues across the United Kingdom fell by £33.4 billion last year according to the annual revenue statistical release from the Organisation for Economic Co-operation and Development. The… The post Total tax revenues across the UK fell by £33.4bn last year appeared first on London Business News | Londonlovesbusiness.com.
With inflation surging to a 10 year highi, consumers’ financial optimism has taken a hit for a second quarter in a row, according to TransUnion’s latest Consumer Pulse study. In stark contrast… The post Inflation puts brakes on consumer spending, but borrowing remains resolute with buy now, pay later growth continuing appeared first on London Business News…
Christmas Day is rapidly becoming one of the biggest events in retail. Last year, shoppers spent £1bn online on the big day and this year will see that rise to… The post Brits will spend £1.2bn online on Christmas Day, as more people shop online than watch the Queen appeared first on London Business News…
The Bank of England’s (BoE) deputy governor has warned on Monday that inflation could “comfortably exceed” 5% by spring which is when energy bills are to rise even further. Ben… The post By spring inflation could ‘comfortably exceed’ 5% when energy bills are to rise even further appeared first on London Business News | Londonlovesbusiness.com.
The Chancellor, Rishi Sunak’s plans to cut the basic rate of income tax by 2p in 2024/25 is nothing but “smoke and mirrors” as the government makes it first moves… The post Rishi Sunak’s plans to cut the basic rate of income tax is nothing but ‘smoke and mirrors’ appeared first on London Business News…
2022 is likely to see a dramatic rise in personal bankruptcies and asset repossessions across the South East as inflation and interest rates begin to climb and consumers struggle to… The post Expert warns echoes of 1990s as wave of personal insolvencies likely appeared first on London Business News | Londonlovesbusiness.com.
