Covid: £2.5bn business rates debt looms over local councils, new analysis says June 28, 2021 UK firms now owe local councils nearly £2.5bn in unpaid business rates, according to new analysis, as the national debt crisis swells. Countless firms have seen their debt climb higher over the pandemic period, with many businesses stifled by restrictions and forced to shut their doors for several months. As relief, the government has offered [...]
CBI: UK economy to grow 8.2 per cent this year in return to pre-Covid level June 18, 2021 Britain’s economy will bounce back to its pre-Covid level by the end of the year, despite a delay to the end of lockdown restrictions, economists said today. The CBI has upgraded its latest forecast for the UK economy, predicting GDP growth of 8.2 per cent this year, up from a previous forecast of 6 per cent. [...]
Budget 2021: Business rates holiday extended to end of June March 3, 2021 The business rates holiday for retail and hospitality firms will continue until the end of June, the chancellor announced today. Rishi Sunak told the House of Commons that the 100 per cent business rates holiday will be extended for three months. For the remaining nine months of the financial year, business rates will be discounted [...]
Chancellor urged to keep London economy competitive through tax measures in Budget March 1, 2021 Chancellor urged to keep London economy competitive through tax measures in budget
Rishi Sunak to extend business rates relief and furlough February 19, 2021 Rishi Sunak is set to extend business rates relief and the furlough scheme into the summer, offering further support to companies battered by coronavirus restrictions. In his Budget next month the chancellor is expected to announce that the year-long business rates holiday for the retail, hospitality and leisure sectors will continue beyond the previous end-date [...]
London pubs and restaurants face ‘bombshell’ without action on business rates, Khan says February 10, 2021 London pubs, restaurants, shops and other hospitality firms have saved more than £3bn due to the business rates holiday, it was revealed today, as pressure mounted on the government to extend the break. Figures showed that 73,140 retail, leisure and hospitality businesses in the capital had benefited from the business rates holiday during the pandemic [...]
Government should rethink rates holiday as economy kicks back into life February 1, 2021 John Webber is Head of Business Rates at Colliers International News that John Lewis is under pressure to hand back millions of pounds in business rates relief received in this year’s retail rates holiday shows that the Government must re-think the way it uses the rates system to hand out support to businesses.. Last year [...]
UK PMIs: Economy slows more than expected in January January 22, 2021 The UK economy has slowed further than many expected in January, according to the leading economic index. Newly released UK PMI figures show the slowdown has been driven by a collapse in the services side of the economy. The overall PMI figure for January is 40.4, and 38.8 for services – the lowest reading for [...]
Sadiq Khan backs CBI’s calls for furlough extension January 19, 2021 The mayor of London has backed calls from the CBI for further financial support for businesses, saying current deadlines create a "financial cliff edge"
Investments climb back to pre-pandemic levels with cash reserves playing key role January 5, 2021 Despite economic pressures and a recession looming, nearly half of corporates and large SMEs expect business investment to return to pre-crisis levels by the end of this year as business gets back to normal. According to a new survey shared exclusively with City A.M. today, just 16 per cent expect to take three years or [...]