Directors’ confidence in the UK economy, already close to its lowest recorded level, has fallen even further after last week’s budget, with hiring and investment expectations dropping to figures last seen during the pandemic. The Institute of Directors’ latest economic confidence index, which measures business leaders’ outlook for the UK economy, stood at –73 in […]
IoD Index Shows Director Optimism Sinks to Near Record Low Read More »
Millions of home workers are set to lose a major financial perk after Labour Chancellor Rachel Reeves confirmed that tax relief for work from home expenses will be removed from next April. The change means employees will no longer be able to reclaim the cost of extra heating, electricity or broadband used while working remotely.
Home Workers Hit as Labour Scraps Tax Relief for Remote Staff Read More »
Millions of low and middle income workers are expected to lose hundreds of pounds in take home pay following Labour Chancellor Rachel Reeves’s decision to freeze income tax thresholds. New analysis from the Resolution Foundation suggests that people earning under £35,000 a year could see between £150 and £200 a year taken from their pay
Millions on Under £35,000 to Lose Hundreds as Tax Threshold Freeze Takes Effect Read More »
Chancellor Rachel Reeves has confirmed a significant rise in the minimum and living wages, with workers aged 18 to 20 set to receive an 8.5 per cent pay increase from April. This will raise the minimum wage for this age group to £10.85 an hour. Meanwhile, school-aged workers between 16 and 17 and apprentices will
Minimum Wage Rise Set to Boost Young Workers, But Economists Warn of Job Risks Read More »
Chancellor Rachel Reeves is preparing to target workers, savers and pensioners in her new budget, introducing more than a dozen tax rises as she attempts to close a £30 billion gap in the public finances. Reeves will argue that the increases are “fair and necessary”, saying they are essential to protect NHS funding and welfare
Middle-Class Families Face Higher Bills Under Reeves’s Budget Read More »
One of Britain’s leading artificial intelligence entrepreneurs has moved his residency to Switzerland, according to new company filings, amid growing concern over the departure of high net worth individuals from the UK. Karim Beguir, the cofounder and chief executive of InstaDeep, the London registered AI firm acquired by BioNTech for up to £562 million two
InstaDeep Founder Karim Beguir Leaves UK for Switzerland Read More »
The UK unemployment rate has climbed to 5% in the three months to September, reaching its highest level since early 2021, according to the Office for National Statistics (ONS). The increase marks a sharper rise than expected, surpassing the 4.9% projected by analysts ahead of the 26 November Budget. It signals that the UK labour
UK Jobless Rate Climbs to 5% in Latest ONS Figures Read More »
More than 60 major employers – including British Airways, Google, Sainsbury’s, and Holland & Barrett have joined forces with the UK government to tackle the growing impact of ill-health on the workforce and economy. The joint initiative, developed in response to Sir Charlie Mayfield’s Keep Britain Working Review, aims to help people stay in work,
Government, Businesses Launch Nationwide Effort to Combat Ill-Health Crisis Read More »
HMRC has collected a record-breaking £4.4 billion in inheritance tax (IHT) between April and September, with receipts up £100 million from the same period last year, a 2.3 per cent increase that signals another bumper year for the Treasury. “The Treasury is on course for another record-breaking year of revenues from IHT,” said Ian Dyall,
Inheritance Tax Hits Record High of £4.4bn — Here’s How to Legally Reduce Your Bill Read More »
The UK economy could gain nearly £47.7 billion a year if unpaid carers were better supported to enter or remain in paid work, according to a major new study that exposes the economic price of locking carers out of the workforce. The research, titled “The Hidden Cost of Unpaid Care: The Economic Price of Locking
Unlocking the Hidden Economy: Supporting Unpaid Carers Could Add £47bn to UK GDP Read More »
