Dampened UK Retail Sales fall 1.2% in July 2023 Unfavourable weather conditions have put a damper on retail sales in the United Kingdom, leading to a noticeable change in how people shop. The rain has made shoppers cut back on their spending and turn to online shopping instead. New data from the Office for National … Read more
CPI Inflation figures for June 2023 The Consumer Prices Index including owner occupiers’ housing costs (CPIH), a widely tracked indicator of inflation, recorded an annual increase of 6.4%. This figure marked a distinct deceleration from the previous month’s rate of 7.3% and an even more significant decline from the peak of 9.6% observed merely nine … Read more
Strong June Growth in UK Economy Driven by Extra Bank Holiday Despite economic uncertainties and global challenges, the United Kingdom’s economy surprised many by achieving significant growth of 0.5% in June 2023. This positive outcome was unexpected, especially considering the slight contraction of 0.1% in May 2023. Several factors, including an additional national bank holiday … Read more
£660 Million Northern Powerhouse Investment Fund II Great news for businesses in the North of England! A substantial investment fund, amounting to a whopping £660 million, is on the horizon to bolster the growth and development of small and medium-sized enterprises across the region. The eagerly anticipated Northern Powerhouse Investment Fund II (NPIF II) is … Read more
£400 Million to Support Midlands SMEs in 2024 A big financial boost is on the horizon for businesses in the Midlands. The British Business Bank is getting ready to introduce a £400 million investment fund in early 2024. This fund, known as the Midlands Engine Investment Fund II (MEIF II), is aimed at helping small … Read more
Early Self Assessment Tax Returns Offers Benefits With the deadline for self-assessment tax returns for the 2022 to 2023 tax year approaching on 31 January 2024, HM Revenue and Customs (HMRC) is encouraging taxpayers to consider filing their returns early to secure several advantages. Filing ahead of the deadline can result in more control over … Read more
Bank of England Raises Interest Rates to 5.25% The Bank of England has decided to increase its main interest rate by 0.25 percentage points, making it 5.25%. This move was agreed upon by 6 out of 9 members of the Bank’s Monetary Policy Committee (MPC). The goal is to manage the balance between keeping prices … Read more