The Institute for Fiscal Studies (IFS) has cautioned against implementing tax cuts in the upcoming Budget unless the government can provide clear details on how they will be funded.
Category: News
The latest news affecting small and medium sized (SME) businesses in the UK
First Electric Coach Service to be Trialled in England and Wales
Starting from June 2024, travellers will have the opportunity to experience the first electric coach service between London, Bristol, and Newport in South Wales.
Next Expresses Interest in Acquiring Assets of The Body Shop
Next has shown interest in purchasing assets of The Body Shop, the cosmetics chain currently facing insolvency.
Consumers Show Increased Confidence as Retail Sales Decline Slows
Consumer confidence appears to be on the rise as the balance of retailers reporting falling sales has dropped to its lowest point in ten months, signaling a potential resurgence in spending among Britons.
Budget Giveaways Likely to Be Offset by Record Tax Rises, Warns Think Tank
The Institute for Fiscal Studies (IFS) has cautioned that any tax cuts announced by Chancellor Jeremy Hunt in the upcoming budget are likely to be overshadowed by record tax increases over the course of the current parliament.
Homebase Faces Second Sale in Four Years as Talks with Potential Buyers Emerge
Homebase, the DIY and garden chain, could soon change hands once again as talks with several potential buyers, including The Range and B&M European Value Retail, have emerged.
UK Food Price Inflation Hits Nearly Two-Year Low in February
Amidst tumbling energy costs and a fierce price war among supermarkets, food price inflation in the UK has reached its lowest level in almost two years, offering a respite to households grappling with stretched budgets.
Sir Keir Starmer Advocates ‘Patriotic Economy’ with Focus on Homeownership Boost
Labour leader Sir Keir Starmer has unveiled plans for what he terms a “patriotic economy,” with a primary focus on bolstering home ownership and revitalising communities through the creation of new towns.
North and Midlands to Benefit from £4.7bn Local Transport Fund Following HS2 Northern Leg Cancellation
In a strategic move to redistribute funds and prioritise local transport infrastructure, Prime Minister Rishi Sunak has unveiled plans to allocate £4.7 billion to the North and Midlands regions of England.
Red Sea Shipping Disruption Sends Ripples Through UK Exporters and Manufacturers
Recent disruptions to shipping routes in the Red Sea have reverberated across Britain’s export and manufacturing sectors, with more than half of exporters reporting adverse effects ranging from increased costs to significant delays.
Mid-sized Businesses Face Uphill Battle Amidst Soaring Costs and Economic Uncertainty
As the spectre of inflation and escalating energy bills looms large, mid-sized businesses across the UK find themselves navigating a treacherous economic landscape, with challenges such as securing financing and expanding operations looming large on the horizon.
‘Tourist Tax’ Set to Stay: Spring Budget Unlikely to Reverse Decision
Anticipation for a reversal of the controversial “tourist tax” in the upcoming spring budget is dwindling, with warnings from the financial secretary to the Treasury highlighting the complexities involved in such a move.
Leeds Building Society Trials Ban on New Holiday Let Mortgages in Tourist Hotspots
Leeds Building Society, a prominent UK lender, has embarked on a trial initiative to suspend new holiday-let mortgages in select popular tourist destinations, aiming to address concerns raised by campaigners regarding housing availability in affected areas.
Nationwide Building Society Announces Third Round of Job Cuts Amid Restructuring Plan
Nationwide Building Society, a stalwart of the UK financial landscape, has unveiled plans for a significant restructuring effort, putting over 300 jobs at risk in its latest round of cuts within the past year.
Energy Price Cap in Great Britain to Hit Two-Year Low at £1,690 in April
Great news for households in Great Britain as the energy price cap is set to decrease to £1,690 starting from April, marking its lowest level in two years.
