Budget sparks 13 per cent jump in business insolvencies December 17, 2024 The number of business insolvencies in England and Wales rose 13 per cent in November, as the impact of the Budget continues to hit firms hard. Experts have also warned that things are not going to get better, with April’s looming Employers’ National Insurance increase leaving firms in a “perilous position”. Nearly 2,000 firms went [...]
Strong wage growth kills hopes of interest rate cut December 17, 2024 Analysts have warned that strong wage growth data reported this morning has killed any chance that the Bank of England will cut interest rates later this week. While the central bank had been widely expected to hold interest rates at its Monetary Policy Committee meeting on Thursday, the decision has been cemented by wages rising [...]
UK wages continue to surge as Bank of England set to decide on interest rates December 17, 2024 UK unemployment remained steady over the last three months as wage growth surged over the quarter to October. Unemployment was unchanged at 4.3 per cent for the second straight month during October, data from the Office for National Statistics revealed. The number of people claiming jobless benefits climbed by just 300 in November, beating the [...]
Lies, damned lies and statistics: Why we can’t trust numbers anymore December 17, 2024 If we are serious about reform and achieving economic growth, we must first ensure that our understanding of our country is underpinned by accurate statistics, says Ben Sweetman There are lies, damned lies and statistics, as the saying goes. But robust and reliable data is the foundation of good governance. If we are to have [...]
UK companies cut jobs at fastest rate in nearly 4 years December 16, 2024 The private sector cut jobs at the fastest rate for nearly 4 years in December as firms respond to new tax rules announced in the Budget. The latest S&P Global Flash UK Purchasing Managers’ Index (PMI) found that while the headline figure for business confidence was unchanged from November, thanks to a marginal increase in [...]
Bank of England set to hold interest rates after inflation jump December 16, 2024 The Bank of England is poised to leave interest rates on hold this week after inflation rose more than expected.
UK inflation expected to rise again in fresh blow to Labour December 16, 2024 Official data this week is expected to show inflation moved further away from the Bank of England's two per cent target in November, dealing another blow to the government after a contraction in GDP.
Growth is easier to destroy than to build December 16, 2024 Missions, milestones, foundations and pledges; Keir Starmer has unveiled them all since winning the election in July, but no amount of visionary rhetoric can compel an economy to grow. Since Labour’s election victory the British economy has whimpered to a halt. GDP flatlined in July and achieved a barely perceptible nudge up in August before contracting [...]
Payments regulator in Treasury crosshairs as firms revolt December 16, 2024 As the government hunts for ways to make Britain more competitive, the country's payments regulator has become caught in the crosshairs.
Housing market braces for the New Year rush December 16, 2024 The housing market is getting ready for a big Boxing Day bounce following a seasonal dip in house prices this month. New seller asking prices dropped by 1.7 per cent in December to £360,197, according to Rightmove, but ended the year 1.4 per cent above December last year. Activity remained substantially stronger than the same [...]