UK inflation: We’re back in the black as inflation moves into positive territory December 15, 2015 UK inflation rose to 0.1 per cent in November, figures by the Office for National Statistics showed today – putting the UK back into positive territory for the first time since July. But analysts were less than optimistic about its ability to stay in the black. The figures showed rises in transport costs and alcohol [...]
UK pensions: What the secondary annuities market means for the five million people currently receiving income from an annuity December 15, 2015 People have much greater freedom and flexibility over their pension since new rules were introduced in April. These new rules allow people over age 55 to take lump sums or income from their pension, although any amounts over and above the tax-free cash sum – which is usually 25 per cent of their pot – are subject [...]
Global business won’t slow down for Christmas: How can businesses use mobile working to make the most of their employees over the holidays? December 15, 2015 As Christmas closes in, we all start to look fondly towards home. For business, ‘tis the season of empty desks, out-of-office emails and manic attempts to complete final tasks as employees rush out to catch the afternoon train. On the other hand, among those left in the office, it’s commonplace to see productivity plummet across [...]
UK wages unlikely to rise next year, think tank warns December 15, 2015 Workers in the UK are unlikely to experience a rise in their wages next year, according to a report by the Resolution Foundation. The think tank said pay will stagnate in 2016, unless productivity is steady and inflation goes up quicker than expected. Their current estimate is a pay increase of just one per cent. [...]
Good news for UK consumers as research reveals food prices are expected to stay frozen in 2016 December 15, 2015 UK food prices will fail to grow again next year in a further boost to consumers, according to a new forecast. Food prices dropped 1.5 per cent in 2014 and are expected to fall again 3.1 per cent this year, Prestige Purchasing, a foodservice supply chain consultant, said today. Annual food price inflation had not been negative [...]
London rents cool off as tenant demand softens December 15, 2015 London rents dropped in November as the market was hit by a seasonal slowdown. Figures published this morning by peer-to-peer mortgage lender Landbay show rents dropping 0.6 per cent compared with October. The monthly drop took annual London rental growth down to 3.1 per cent in November from 4.3 per cent. The dip in rental [...]
The gap between England’s largest cities and neighbouring towns is widening, think tank warns December 15, 2015 A leading independent think tank has warned of a widening divide between England’s largest cities and nearby towns, with three in five towns falling behind their bigger neighbours. A report released today by Demos has identified 21 largest cities and compared their performance with that of two towns closest to each city using 30 different [...]
US growth slowdown may delay second Federal Reserve interest rate hike December 14, 2015 The US economy is contracting this month, according to a survey of businesses, and is likely to prevent the Federal Reserve from raising interest rates quickly next year. The sales managers’ index published today by World Economics dropped to a score of 48.9 for December from 52.4 in November. Any score below 50 indicates a contraction [...]
HMRC officially launches digital Personal Tax Accounts online, with more than a million users to have access by mid-December 2015 December 14, 2015 The taxman is coming to a computer screen near you, after HM Revenue & Customs (HMRC) officially launched its online Personal Tax Accounts (PTA) today. The digital PTAs aim to provide people with a clearer and more real-time picture of their tax situation. More than a million self-assessment taxpayers will have access to their account by [...]
The new National Living Wage will set employers back £804m in direct costs alone December 14, 2015 The National Living Wage will set private sector employers back £804m in direct costs alone, according to findings released today by the Regulatory Policy Committee. The independent verification body discovered that National Living Wage, which will be introduced in April 2016 at an initial rate of £7.20 an hour for those aged 25 and over, [...]