Eight-month high for services sector
The UK’s dominant services sector, which makes up more than 70 per cent of gross domestic product (GDP), grew strongly in July, with business activity hitting an eight-month high. Continue reading
House building surges ahead
UK house building grew at its fastest rate in nearly 11 years last month, driven by strong demand for new projects according to the Markit UK Construction Purchasing Managers’ Index (PMI) survey. Continue reading
Factory output still strong
Although the pace of UK factory output slowed in July, it is continuing to enjoy one of its strongest growth periods for 22 years as it steps up to meet strong demand, according to research firm Markit. Continue reading
House price growth slows
House price growth slowed in July offering further evidence that the market has stopped accelerating, although the annual rate of increase is still in double figures. Continue reading
Administrations at lowest level in nine years
Although the number of personal insolvencies rose in the second quarter of this year, the number of firms going into liquidation decreased compared with the same period in 2013, and administrations, company voluntary arrangements and receiverships were also lower than during the same time a year ago.Continue reading
Taxman not turning up to work
As tax collectors go on strike this week over the loss of another 5,000 staff and the closure of 281 local tax offices, critics are letting loose on how HM Revenue & Customs (HMRC) could sharpen up and collect more money for the Treasury. Continue reading
5G in London by 2020
5G internet, which is as much as 250 times faster than 4G and can download an 800 megabyte film in one second, will be available in London by 2020, according to Mayor Boris Johnson. Continue reading
HMRC checking up on SMEs
The number of small and medium-sized enterprises (SMEs) facing detailed checks by HM Revenue & Customs (HMRC) has risen by a third after checks were reintroduced in November 2012, according to a recent study. Continue reading
Economy back at pre-crisis level
The UK economy is finally bigger than it was before the financial crisis started six years ago, growing by 0.8 per cent between April and June, according to official data from the Office for National Statistics (ONS). Continue reading
More than 10 million to be higher rate taxpayers
More than 10 million people will be higher rate taxpayers within two decades as the 40p band becomes the “norm” for millions of middle class workers, according to analysis by the Office for Budget Responsibility (OBR). Continue reading
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