UK aerospace industry goes stratospheric February 1, 2016 The aerospace industry has increased in value by £3bn in 2015, with a new aircraft ordered on average every four hours and delivered every 6.5 hours globally, according to data from aerospace trade body ADS Group. Production of commercial aircraft in the country is up almost 50 per cent since 2009, as the government faces calls [...]
Chinese New Year 2016: ‘Year of the Monkey’ sales boost expected as London brands race to attract Chinese shoppers February 1, 2016 Despite China's creaking economic slowdown and chaotic markets, London's shops could benefit from a boom in tourists over Chinese New Year. Tax-free incentives, a simplified visa programme and a new generation of shopping-mad millennials are behind the expected increase in Chinese spend, according to international retail specialist Global Blue. Chinese New Year takes place between 8 [...]
MPs on BIS Committee say government “lacks focus” when it comes to tackling low UK productivity February 1, 2016 An influential group of MPs has slammed the government over its efforts to boost Britain’s productivity, saying ministers’ plans “lack focus”. In a new report out today, MPs on the Business, Innovation and Skills (BIS) Committee said the government’s so-called productivity plan, first introduced last summer, “lacks clear, measurable objectives and largely amounts to an [...]
Freelancers feeling good again after government scraps tax plan February 1, 2016 Things are looking up for the UK’s growing freelance community, with confidence rising and a controversial tax plan scrapped. According to a new survey by the Association of Independent Professionals and the Self Employed (IPSE), 35 per cent of freelancers felt confident about their work prospects in the third quarter of 2015, compared with just [...]
ICAEW: Weak business optimism is a bad sign for chancellor George Osborne February 1, 2016 Business confidence has dropped to a three-year low, signalling lower growth and posing a threat to chancellor George Osborne’s budget targets. The Institute of Chartered Accountants in England and Wales’ (ICAEW) confidence index dipped to a score of 11.4 for the start of 2016 – the lowest since early 2013. Lower economic growth can impact [...]
Hotel occupancy up but London loses out as tourists look beyond the capital February 1, 2016 Tourists are giving London the cold shoulder and choosing to stay outside the capital city, driving profits up in the UK’s hospitality sector. The average profit margin of UK hotels rose from 3.5 per cent in 2013/2014 to 4.5 per cent in 2014/2015 according to a new report by finance provider LDF. And for the [...]
How to make a success of your failed New Year’s resolutions February 1, 2016 Were you one of the many workers who, on Monday 4 January, pledged that 2016 would be different? That this would be the year that you master the art of delegation, improve productivity, network in your lunch break and make it home for baby’s bath time? And as we hurtle into February, are you one [...]
Big banks pay big bucks for tech and IT workers February 1, 2016 Big banks are paying big bucks for tech workers, offering more than technology, telecoms or media firms for the in-demand expertise. IT workers are earning over half as much more at banking and financial services firms and more than twice as much as a contractor. The daily rate for developers working full time is £300 in banking, compared [...]
Late tax return? You have the right to appeal a penalty if you have a reasonable excuse, says industry body, as the deadline for self-assessment tax return draws nearer January 31, 2016 With just one hour to go until the deadline for self-assessment tax returns, an industry body has urged those who have a reasonable excuse for not hitting submit by midnight to appeal any late filing penalty they receive. The Low Incomes Tax Reform Group (LITRG) of the Chartered Institute of Taxation (CIOT) has today warned [...]
London airport expansion: Sir Howard Davies, Sir Martin Sorrell, CBI, London First and others hit back at MPs’ request for more economic analysis of airport options January 31, 2016 Business groups have once again urged the government to push ahead with airport expansion, after an influential group of MPs opened the door to further delays by calling for more economic analysis of the costs and benefits of additional runways. In a letter today to chancellor George Osborne, Treasury Committee chair Andrew Tyrie attacked the [...]