The Consumer Price Index (CPI) rose again 9.1% in May, a further 0.1 percentage point increase on April’s record inflation, the Office of National Statistics (ONS) has revealed. The continued increase in the measure of changes to typical household costs have been driven by increased prices of … [Read more...]
News for: General Business
Number of job vacancies hits record high but pay struggles to keep pace with inflation
The number of job vacancies in March to May 2022 rose to a new record of 1,300,000, according to the latest figures published by the Office of National Statistics (ONS), with regular pay down 2.2% when adjusted for inflation. Despite record high numbers of jobs being advertised by employers, the … [Read more...]
Data protection reform offers innovation boost
The government has set out its plans to reform data protection rules following the UK’s exit from the EU, promising to protect consumers while creating opportunities to boost business through innovation. The Data Reform Bill, set out in this year’s Queen’s Speech aims to bolster data protection … [Read more...]
A fifth of North-west businesses held back by lack of growth funding awareness
Despite high business confidence, nearly a fifth of SMEs in the North-west report they are unaware of growth funding options available to them, according to new research from asset manager and growth capital provider, BOOST&Co. In its 2022 Geared for Growth report, BOOST&Co … [Read more...]
Citation acquires cyber security consultancy
Wilmslow based HR and Health & Safety specialists, The Citation Group, have announced the acquisition of a Lancaster-founded information security consultants, Mitigate Cyber. The acquisition, Citation's third of the year, will enable the group to expand its offering for SMEs to include … [Read more...]
Bank of England raises interest rates to highest level since 2009
The Bank of England has announced a further increase in its base interest rates and issued a stark warning on the UK economy in the near-future. Interest rates have increased by a further 0.25 percentage points to 1%, the highest level since 2009 at the height of the global financial crisis. The … [Read more...]
Reforms planned to better protect shoppers online
Planned reforms to protect shoppers online have been announced that will include banning fake reviews and making it easier for customers to end subscription services. Under new rules proposed, it will become illegal to commission or offer fake reviews. Review sites hosting customer reviews must … [Read more...]
Increased Employment Allowance comes into effect
A £1,000 increase in the Employment Allowance, the amount smaller firms can claim to reduce National Insurance Contributions (NICs), has come into effect from 6th April. The Employment Allowance has risen from £4,000 to £5,000, as announced in the Chancellor’s Spring Statement. The increase is … [Read more...]
Covid-19 insolvency measures lifted as pandemic business support winds down
Temporary insolvency measures put in place during the Covid-19 pandemic will be lifted from 31st March 2022 as the remaining pandemic support schemes are wound down. Measures were introduced as part of the Corporate Insolvency and Governance Act 2020 to limit the impact of Covid-19 related … [Read more...]
Fuel duty cuts and changes to NI threshold among Rishi Sunak’s Spring Statement announcements
Chancellor Rishi Sunak has announced a cut to fuel duty and an increase in the NI payment threshold among measures to ease the impact of the rising cost of living in his Spring Statement, delivered to Parliament on Wednesday 23rd March. Addressing colleagues in the House of Commons, Mr Sunak … [Read more...]
North-west leaders react to 2022 Spring Statement
Business and political leaders across the North-west have largely welcomed measures announced in the 2022 Spring Statement, but also called on the Chancellor to do more to address the rising cost of living. On Wednesday March 23rd, Rishi Sunak announced changes to National Insurance thresholds, … [Read more...]
Chancellor’s Spring Statement expected to address inflation, now at 6.2%
The Office of National Statistics’ (ONS) Consumer Price Index (CPI) has revealed a 6.2% rate of annual inflation, ahead of Chancellor Rishi Sunak's upcoming Spring Statement. The latest ONS data puts inflation at its highest level since 1992, up from last month's previous thirty-year high of … [Read more...]