According to the Bank of England’s Deputy Governor for Monetary Policy, Sir Charlie Bean, interest rates could return to the pre-recession level of 5 per cent in “the very long term”. Continue reading
New research has revealed that UK consumer confidence in June has risen to its highest level since 2005, climbing by one point this month to +1 from 0 in May and moving into positive territory for the first time in over nine years. Continue reading
According to Business Minister Matthew Hancock, the Small Business, Enterprise and Employment Bill, which was introduced to Parliament this week, contains 142 clauses designed to help small firms “start, grow and thrive”. Continue reading
According to the British Bankers’ Association (BBA), the “heat is coming out of the housing market”, with mortgage approvals, which are used as an indicator of future sales, dropping on a monthly basis. Continue reading
According to a recent survey, self-funding is the most popular form of funding for small businesses, with almost 50 per cent of the firms polled either using their own money or getting help from friends and family, a sharp rise from the 26 per cent who were doing so a year ago. Continue reading
The Confederation of British Industry (CBI) has warned the Bank of England that raising interest rates before next year, which Governor Mark Carney has hinted at, could be a mistake, as the strength of the pound is already causing problems with exports. Continue reading
According to HM Revenue & Customs (HMRC) around 3.5 million people paid too little tax through the Pay As You Earn (PAYE) system in 2013-14, while as many as two million may have paid too much. The average incorrect amount is thought to be around £300. Continue reading
Minutes from the Bank of England’s June Monetary Policy Committee (MCP) meeting show that members voted 9 to 0 in favour of leaving interest rates as they are, at the historic low of 0.5 per cent, but suggest that a rate increase is increasingly likely by the end of the year. Continue reading
House prices increased again across the UK in April, taking them some 9.9 per cent higher in the month than during the same time last year and making the typical price of a home £260,000, 10 times the average salary. Continue reading
Inflation as measured by the Consumer Prices Index (CPI) fell to 1.5 per cent in May, its lowest level in four-and-a-half years and the sixth consecutive month that inflation has been below the Bank of England’s 2 per cent target. Continue reading